Chart Industries, Inc. - GTLS STOCK NEWS

Chart Industries and Reliance Industries have co-founded the India H2 Alliance (IH2A), aimed at developing a hydrogen economy in India. The alliance, comprising global energy leaders, focuses on blue and green hydrogen production, storage, and transport applications. IH2A will collaborate with the government to formulate a National Hydrogen Policy and establish large-scale hydrogen projects and a national funding initiative. This coalition seeks to reduce hydrogen costs and create a local supply chain to achieve India's net-zero carbon goals, complementing renewable energy strategies.

Plug Power, Chart Industries, and Baker Hughes announced their intentions to invest a total of €260 million in the FiveT Hydrogen Fund. This fund aims to raise €1 billion for developing clean hydrogen infrastructure, crucial for addressing climate change and supporting the energy transition to net-zero emissions. Plug Power will contribute €160 million while Chart Industries and Baker Hughes will each commit €50 million. The Fund focuses on financing projects in hydrogen production, storage, and distribution, promising robust returns and sustainability benefits.

Plug Power, Chart Industries, and Baker Hughes are set to be cornerstone investors in the FiveT Hydrogen Fund, aimed at advancing clean hydrogen infrastructure. Plug Power will invest €160 million ($200 million), while Chart and Baker Hughes will each contribute €50 million ($60 million). The Fund aspires to raise €1 billion from various investors and will exclusively finance projects in clean hydrogen production, storage, and distribution. This collaboration emphasizes the increasing importance of hydrogen in the energy transition and the potential for significant environmental impact.

Chart Industries, Inc. (NYSE: GTLS) has scheduled a conference call for April 22, 2021, at 9:30 a.m. ET to discuss its first quarter 2021 financial results. Earnings will be released prior to market open on the same day. Participants can join by dialing (877) 312-9395 in the U.S. or (970) 315-0456 outside the U.S., using Conference ID 1269077. A webcast will also be available on the company's investor relations website.

A replay will be accessible from 12:30 p.m. ET, April 22, until 12:30 p.m. ET, April 29.

Chart Industries (GTLS) has made a strategic $25 million investment for a 5% equity stake in Transform Materials, a sustainable chemical company specializing in microwave plasma technology for converting natural gas into acetylene and hydrogen. This partnership includes a binding commercial agreement aimed at leveraging Chart's technology for enhancing clean hydrogen production. Transform aims to initiate construction of two to three plants within the year, signaling potential multi-million dollar opportunities for Chart across global markets in the clean energy sector.

Chart Industries (GTLS) announced a significant order from Plug Power (PLUG) for two 15-ton per day liquefaction plants, part of Plug Power's first-of-a-kind green hydrogen generation network in the U.S. The liquefaction plants will use Chart’s advanced technology and are set to be operational by the end of 2022, supporting Plug Power's aim to produce 1,000 tons of green hydrogen globally by 2028. This partnership highlights the increasing demand for hydrogen solutions, aligning with the clean energy transition.

Chart Industries (NYSE: GTLS) has received a Notice to Proceed for engineering work on New Fortress Energy’s (NASDAQ: NFE) 1.4 MTPA LNG offshore liquefaction project. The project, valued at $47 million, is expected to complete by the end of 2022, featuring Chart's patented ISPMR® process technology and other essential equipment. CEO Jill Evanko expressed excitement about this unique partnership, highlighting NFE's leadership in clean energy.

Chart Industries reported a robust Q4 and full-year 2020, achieving a record backlog of $810 million and generating $60.2 million in net cash from operations. The company recorded total sales of $312.4 million in Q4, leading to a 178% increase in diluted earnings per share to $1.28. Full-year guidance for 2021 estimates revenue between $1.32 billion and $1.38 billion, with adjusted EPS anticipated at $3.50 to $4.00. The company completed four acquisitions, contributing to expected double-digit revenue growth while maintaining a strong cost structure.

Chart Industries announced the acquisition of Cryogenic Gas Technologies for $55 million in cash. Cryo Technologies specializes in custom-engineered systems for industrial gases like hydrogen and helium. This acquisition is expected to add approximately $30 million in revenue and boost non-diluted earnings per share by $0.15 to $0.20 for Chart in 2021. The combined expertise will enhance Chart's capacity in the hydrogen and helium markets, creating a unique full-solution supplier in liquefaction and storage.