Chart Industries and Hylium Industries Sign Memorandum of Understanding for Supply of Liquid Hydrogen Trailers in the Republic of Korea
Chart Industries (NYSE: GTLS) has signed a Memorandum of Understanding with Hylium Industries to establish a joint venture focused on producing liquid hydrogen trailers in South Korea. The agreement includes a purchase order for three trailers, which will be designed and manufactured under Hylium's oversight, ensuring compliance with local regulations. CEO Jill Evanko emphasized the collaboration's potential to advance clean energy initiatives, while Hylium's CEO expressed optimism about enhancing Korea's hydrogen economy through this partnership.
- Formation of a joint venture with Hylium Industries to manufacture liquid hydrogen trailers
- Purchase order for three trailers, indicating initial demand
- Collaboration enhances Chart's presence in the growing hydrogen market in Korea
- None.
ATLANTA and REPUBLIC OF KOREA, Dec. 02, 2021 (GLOBE NEWSWIRE) -- Chart Industries, Inc. (NYSE: GTLS), a leading diversified global manufacturer of highly engineered equipment for the industrial gas and clean energy industries and Hylium Industries, Inc. (“Hylium”), a leading liquid hydrogen technology company in the Republic of Korea, have signed a Memorandum of Understanding (“MOU”) to establish a joint venture and associated supply agreement to design and produce liquid hydrogen trailers for the Republic of Korea. Included in the execution of the MOU, Hylium placed a purchase order for three liquid hydrogen trailers. Through the agreement, the trailers will be designed and produced for sale in the Republic of Korea through Hylium including obtaining and maintaining all applicable government certifications, approvals, and registrations required.
“We are pleased to partner with Hylium, a well-respected leader in hydrogen in Korea,” stated Jill Evanko, Chart’s CEO and President. “Our companies’ shared mission of bringing clean energy solutions to the world will be furthered by applying Chart’s decades of experience of designing and building hydrogen trailers with Hylium’s Korean presence and experience in the region’s operations, certifications and commercial opportunities.”
“It is my great pleasure to partner with Chart Industries, Inc., one of the global leaders in hydrogen technologies. We believe this partnership will not only contribute to Korea’s hydrogen economy, but also help foster stronger ties between the two countries for carbon free clean environment. We are excited to see what this partnership will bring,” stated Seo Young Kim, the CEO of Hylium Industries, Inc.
About Chart Industries, Inc.
Chart Industries, Inc. is a leading independent global manufacturer of highly engineered equipment servicing multiple applications in the Energy and Industrial Gas markets. Our unique product portfolio is used in every phase of the liquid gas supply chain, including upfront engineering, service and repair. Being at the forefront of the clean energy transition, Chart is a leading provider of technology, equipment and services related to liquefied natural gas, hydrogen, biogas and CO2 Capture amongst other applications. We are committed to excellence in environmental, social and corporate governance (ESG) issues both for our company as well as our customers. With over 25 global locations from the United States to Asia, Australia, India, Europe and South America, we maintain accountability and transparency to our team members, suppliers, customers and communities. To learn more, visit www.chartindustries.com.
About Hylium Industries, Inc.
Hylium Industries, Inc. was established in 2014 as a Korea Institute of Science and Technology’s (KIST) venture company and is the first independent manufacturer of liquid hydrogen technologies in Korea. Hylium’s product portfolio spans across liquid hydrogen storage, transportation, liquefaction and refueling technologies, as well as liquid hydrogen drones and hydrogen safety devices. Hylium and its strategic business partners and suppliers can pave the way as global leaders in building the hydrogen economy. With our innovative technology, we aim to become a leading player in the global hydrogen industry and ongoing paradigm shift towards addressing climate change. To learn more, visit www.hylium-industries.com.
For more information, click here:
http://ir.chartindustries.com/
Investor Relations Contact – Chart Industries:
Wade Suki, CFA
Director of Investor Relations
832-524-7489
wade.suki@chartindustries.com
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