Chart Industries, Inc. - GTLS STOCK NEWS

Chart Industries, Inc. (GTLS) reported a record $447.9 million in orders for Q2 2021, driving total backlog to $1,083.9 million. Q2 sales reached $322.0 million, up 11.6% sequentially and 11.2% year-over-year. Adjusted EPS increased 88% year-to-date. The company completed the acquisition of L.A. Turbine and anticipates 2021 revenue of $1.38 billion to $1.43 billion, raising 2022 revenue outlook to $1.60 billion to $1.70 billion. Demand is expected to grow across various sectors, including hydrogen and LNG, amidst strategic investments in innovative technologies.

Hyzon Motors and Chart Industries have announced a partnership aimed at developing a liquid hydrogen-powered heavy-duty commercial vehicle with a range of up to 1,000 miles. This collaboration seeks to revolutionize long-haul trucking by utilizing liquid hydrogen, which offers a denser, lighter storage alternative compared to gaseous storage. The project aims to reduce hydrogen infrastructure costs and the number of refueling stations needed, paving the way for a hydrogen-based transport industry and potentially impacting aviation and marine transport as well.

Hyzon Motors and Chart Industries (NYSE: GTLS) have partnered to develop a liquid hydrogen-powered heavy-duty commercial vehicle targeting a range of up to 1,000 miles. This innovation aims to overcome storage limitations of gaseous hydrogen, allowing for greater payload capacity and fewer refueling stations. The collaboration leverages Chart’s expertise in liquid hydrogen equipment and Hyzon’s hydrogen fuel cell technology, streamlining infrastructure needs and potentially transforming hydrogen transport in trucking, aviation, and other sectors.

Chart Industries (GTLS) announced the acquisition of L.A. Turbine for $80 million in cash. This acquisition enhances Chart's capabilities in turboexpander design and manufacturing, crucial for applications such as hydrogen liquefaction and carbon capture. L.A. Turbine's expertise is expected to contribute significantly to Chart’s financial growth, with projected revenue increases of $40-$50 million and an EPS boost of $0.20-$0.30 in 2022. The total addressable market for Chart's specialty products expands by $350 million, highlighting the strategic importance of this acquisition.

Chart Industries, Inc. (GTLS) will hold a conference call on July 22, 2021, at 9:30 a.m. ET to discuss its Q2 2021 financial results, which will be released before market opening that day. Participants can join via telephone or access the call through a webcast on the investor relations site. A replay will also be available following the call. Chart Industries is a leading manufacturer in the Energy and Industrial Gas markets, providing essential equipment for the clean energy transition.

Chart Industries (GTLS) has secured a significant order for a large-scale helium liquefaction plant from a top independent oil and gas producer in Russia. The order includes equipment supply, commissioning, and startup, with the project reflecting the synergy of Chart's capabilities and recent acquisition of Cryo Technologies. Equipment deliveries are expected by the end of 2022, and commissioning is set for 2023. This order marks the third hydrogen/helium liquefier secured by Chart in 2021, indicating a robust market presence.

TECO 2030 ASA and Chart Industries (GTLS) have signed a three-year Memorandum of Understanding to develop onboard carbon capture solutions for ships using Cryogenic Carbon Capture technology. This collaboration aims to enable ships to capture and store CO₂ emissions, helping the maritime industry comply with environmental legislation and achieve decarbonization goals set by the International Maritime Organization (IMO). The captured CO₂ can be stored or utilized in various industries, promoting sustainability in shipping.

Chart Industries (GTLS) has completed a $5 million minority investment in Earthly Labs, a leader in small-scale carbon capture technology. This partnership includes a commercial Memorandum of Understanding to enhance Earthly Labs' CO2 capture capabilities, particularly for craft breweries and other industrial users. Chart's investment aims to increase the carbon capture market size from $600 million to $800 million, driven by demand for affordable CCUS solutions. The collaboration is expected to accelerate innovation and growth in the carbon capture sector.

Chart Industries (GTLS) announced a €6.5 million minority investment in Cryomotive GmbH, a green-tech startup focusing on clean hydrogen storage and refueling technology. This strategic partnership includes a commercial agreement aimed at leveraging Cryomotive’s proprietary CcH2 CRYOGAS technology to decarbonize long-haul commercial vehicles. The global market for fuel cell-powered vehicles is projected to exceed 700,000 units by 2035 in Europe and China. Chart's investment increases its addressable market for hydrogen applications by $100 million over the next five years.