Chart Industries, Inc. - GTLS STOCK NEWS

Chart Industries, Inc. (GTLS) has appointed Joe Brinkman as the new Vice President and Chief Financial Officer, effective October 1, 2021. Brinkman succeeds Scott Merkle, who is set to retire on October 1, 2022, and will assist in the transition. Brinkman has a 23-year history at Chart, previously serving as Vice President and General Manager of Industrial Gas Products. His responsibilities will include financial reporting and global sourcing. CEO Jill Evanko emphasized the strength of the leadership team and the importance of succession planning.

Chart Industries (NYSE: GTLS) has received a U.S. Department of Energy (DOE) funding award of $4,999,875 to develop its Sustainable Energy Solutions Cryogenic Carbon Capture™ (CCC) technology at a cement plant in Missouri. This initiative aims to capture over 95% of CO2 emissions, enhancing their existing relationship with the DOE. The project highlights the company's leadership in carbon capture technology, which was recently acknowledged by MIT and Exxon as a competitive solution. Chart anticipates a $6 billion addressable market by 2030.

Chart Industries, Inc. (GTLS) has scheduled a conference call for October 21, 2021, at 9:30 a.m. ET to discuss third quarter 2021 financial results. The earnings release will be issued prior to market open on the same day. Participants can join the call by dialing (877) 312-9395 in the U.S. or (970) 315-0456 internationally. A replay will be available on the investor relations website starting at 12:30 p.m. ET on October 21 until October 28. Chart Industries is a leading global manufacturer in the Energy and Industrial Gas markets.

Chart Industries, Inc. (NYSE: GTLS) has been awarded the Emissions Reductions Champion – Organization of the Year at Gastech 2021 in Dubai. This accolade recognizes organizations implementing effective strategies for emissions reductions. Chart has achieved a 30% reduction target for carbon emissions by 2030, with a reported 6% decrease in GHG intensity and 9% reduction in Scope 1 and Scope 2 emissions in 2020. The company continues to focus on clean energy transitions, contributing significantly to LNG production and diesel reduction in power generation.

Chart Industries (GTLS) has partnered with FLSmidth to implement advanced carbon capture technology aimed at reducing CO2 emissions from cement production, which contributes 7-8% of global emissions. The initiative focuses on adapting Chart’s Cryogenic Carbon Capture™ (CCC) technology for the cement industry, targeting over a 90% reduction in carbon emissions at half the cost of existing methods. This collaboration is expected to leverage FLSmidth's extensive industry knowledge to accelerate the commercialization of CCC technology and support the industry's transition towards net-zero emissions.

Chart Industries (GTLS) has increased its ownership in HTEC Hydrogen Technology & Energy Corporation from 15.6% to 25%. This follows an initial investment in December 2020 and comes as Chart partners with I Squared Capital, which now holds 35% of HTEC. The combined stake of 60% aims to bolster HTEC's capabilities in green hydrogen production and fueling infrastructure. The investment is timely, given Canada's commitment to clean energy, enhancing Chart's position in a growing market. The existing Memorandum of Understanding (MOU) between Chart and HTEC continues to facilitate commercial relations.

Chart Industries (NYSE: GTLS) has acquired AdEdge Holdings for $40 million, expanding its water treatment capabilities. AdEdge specializes in technologies that remove contaminants, including PFAS and PFOS, contributing to a growing market projected to reach $5 billion by 2030. This acquisition will enhance Chart's offerings and is expected to add $35-40 million in revenue and $0.11-0.16 EPS in 2022. The integration is positioned to strengthen Chart's focus on sustainable solutions amid increasing regulatory demands.

The Board of Directors of Chart Industries (NYSE: GTLS) has appointed three new independent directors: Paula Harris, Linda Harty, and Roger Strauch. This expands the board to nine members, with four directors being female and five diverse. Harris brings over 34 years of oilfield services experience with Schlumberger, focusing on environmental sustainability. Harty has extensive financial expertise from roles at Medtronic and Cardinal Health. Strauch, chairman of The Roda Group, specializes in early-stage climate change technologies. These appointments aim to enhance governance and strategic growth.

Chart Industries has launched a new division, ChartWater™, aimed at enhancing its water treatment solutions by leveraging its engineering expertise. This development follows the acquisition of BlueInGreen in November 2020, which is set to boost its market presence in the water treatment sector. With an estimated total addressable market (TAM) of $700 million currently and $2.3 billion projected by 2030, ChartWater™ aims to integrate water treatment with clean energy goals, emphasizing the critical relationship between energy production and water consumption.