Chart Industries and Wolf Carbon Solutions expand MOU on Carbon Capture Utilization and Storage Projects along Mt. Simon Hub System to include Howden Equipment

Rhea-AI Summary

Chart Industries (NYSE: GTLS) has expanded its Memorandum of Understanding with Wolf Carbon Solutions U.S. LLC to jointly develop projects utilizing Chart's Sustainable Energy Solutions (SES) Cryogenic Carbon Capture (CCC) technology. This collaboration aims to implement carbon capture along Wolf's Mt. Simon Hub carbon pipeline system, which connects Cedar Rapids, Iowa, to central Illinois. The initiative is designed to capture carbon emissions from various industrial sources, promoting decarbonization efforts in sectors like refineries and power generation. Both companies will leverage additional equipment from Howden to enhance carbon capture capabilities and expand CO2 emitter coverage across the U.S.

Positive

• Expansion of MOU with Wolf Carbon Solutions to utilize advanced carbon capture technology.
• Collaboration targets the first CO2 pipeline with carbon capture capabilities in a key industrial area.
• Support for decarbonization in multiple sectors, enhancing potential market for Chart's technology.

Negative

• None.

ATLANTA, April 13, 2023 (GLOBE NEWSWIRE) -- Chart Industries, Inc. (“Chart”) (NYSE: GTLS), a leading diversified global manufacturer of highly engineered equipment and technologies for the industrial gas and clean energy industries, is pleased to announce the expansion of their existing Memorandum of Understanding (“MOU”) with Wolf Carbon Solutions U.S. LLC (“Wolf”). Wolf is an affiliate of Wolf Midstream, a $4 billion multi-asset energy infrastructure organization based in Calgary, Alberta.

Through the cooperation agreement, both companies will jointly identify, develop, pursue, and execute projects using Chart’s Sustainable Energy Solutions (“SES”) Cryogenic Carbon Capture (“CCC”) technology at mutually agreed upon host sites located along Wolf’s recently announced Mt. Simon Hub carbon pipeline system. The proposed Mt. Simon Hub will run from Cedar Rapids, Iowa, to central Illinois. Carbon that would otherwise be emitted into the atmosphere will be captured via Chart CCC™ technology and transported, stored, and permanently sequestered in the proposed Mt. Simon Hub carbon capture, transport, and sequestration system.

This would be the first CO2 pipeline with carbon capture utilization and storage (CCUS) capabilities in this highly industrial region of the United States and would support decarbonization in refineries, cement, steel, lime, power, and many other industries. These various industrial sources of carbon emissions are ideal candidates for deploying SES and CCC technology for post-combustion carbon capture.  

“Chart is a proven leader in cryogenic technologies,” stated Nick Noppinger, Senior VP of Corporate Development. “Capture tech is an evolving industry that is critical to global decarbonization efforts, and Chart is at the forefront with its cryogenic carbon capture technology. Wolf looks forward to leveraging Chart’s technology and experience to expand the Mt Simon Hub and develop additional carbon infrastructure opportunities across the U.S.”

In addition to CCC technology for post-combustion carbon capture, the parties will also work together to utilize additional rotating equipment manufactured by Howden for CCUS applications. Howden provides flue gas boosters for various CCUS technologies (including amine treating units and others), compressors for energy efficiency in the regeneration of amine treating units, rotating adsorption machines, and CO2 compressors.

“We are extremely pleased to expand our relationship with Wolf Carbon Solutions, US, LLC both from leveraging our carbon capture solutions and now, with this MOU expansion, inclusive of utilizing Howden’s flue gas boosters for CCUS technologies, compressors for energy efficiency, rotating adsorption machines, and CO2 compressors,” stated Jill Evanko, Chart’s CEO and President. “Together with Wolf, we will work to expand coverage of CO2 emitters in more regions to support Wolf’s national strategic growth initiatives, inclusive of Wolf’s CO2 distribution and transportation services.”

By leveraging both CCC and Howden carbon capture solutions, the Parties will work together to expand coverage of CO2 emitters to support Wolf’s national strategic growth initiatives for CO2 distribution and transportation services. This will include both high-purity CO2 emitters in addition to lower-concentration post-combustion CO2 emissions sources.

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. The company’s 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. Chart is committed to excellence in environmental, social and corporate governance (ESG) issues both for its company as well as its customers. With over 25 global locations from the United States to Asia, Australia, India, Europe and South America, the company maintains accountability and transparency to its team members, suppliers, customers and communities. To learn more, visit www.chartindustries.com

About Wolf Carbon Solutions

Wolf Carbon Solutions US LLC (Wolf) is a private company backed by Canada Pension Plan Investment Board (CPP Investments). Wolf is an affiliate of Wolf Midstream, a $4 billion multi-asset energy infrastructure organization based in Calgary, Alberta. The company is committed to transforming the future of carbon reduction through the development of world-scale CO2 infrastructure. Wolf Midstream owns and operates the Alberta Carbon Trunk Line (“ACTL”). ACTL infrastructure includes CO2 conditioning and compression, and one of the world’s largest capacity CO2 pipelines where captured CO2 is currently being used for enhanced oil recovery with future access to the Wolf Midstream sequestration hub currently under development. The ACTL system has safely captured three million tons of CO2 since the system began operations in 2020.

Chart Industries Investor Relations Contact:

John Walsh
VP, Investor Relations
1-770-721-8899
john.walsh@chartindustries.com

Wolf Carbon Solutions Contact:
Nicholas Noppinger
Sr VP, Corporate Development
917-716-6679
nick.noppinger@wolfcarbonsolutions.com

FAQ

What does the expanded MOU between Chart Industries and Wolf Carbon Solutions involve?

The expanded MOU focuses on joint projects utilizing Chart's Cryogenic Carbon Capture technology along Wolf's Mt. Simon Hub pipeline system.

When was the MOU expansion between Chart Industries and Wolf Carbon Solutions announced?

The MOU expansion was announced on April 13, 2023.

What is the significance of the Mt. Simon Hub for carbon capture?

The Mt. Simon Hub is notable for being the first CO2 pipeline with carbon capture utilization and storage capabilities in a major industrial region.

How will Chart and Wolf Carbon Solutions enhance carbon capture efforts?

They will leverage both Chart’s CCC technology and additional equipment from Howden to expand CO2 emitter coverage across the U.S.

What industries will benefit from the carbon capture collaboration?

Industries such as refineries, cement, steel, and power generation will benefit from this collaboration.