Worthington Industries introduces ThermaGuard™ hydrogen cylinders, a new solution for transporting and storing high-pressure hydrogen gas

Rhea-AI Summary

Worthington Industries (NYSE:WOR) has launched ThermaGuard hydrogen cylinders, designed for efficient hydrogen fuel transportation and storage. The new cylinders, built with aerospace-grade materials, can operate at temperatures up to 250°F, eliminating the need for costly hydrogen pre-chilling. This innovation allows for faster filling times (10-15 minutes) and significant reductions in fuel costs (up to $2.00 per kg). ThermaGuard cylinders contribute to sustainability by enhancing the hydrogen supply chain and supporting zero-emission mobility solutions.

Positive

• Faster filling times for hydrogen cylinders, reducing fill time from 25-45 minutes to 10-15 minutes.
• Potential savings of $0.22 – $2.00 per kg by eliminating hydrogen pre-chilling costs.
• Reduction of capital expenditure by up to $500,000 by avoiding chilling equipment costs.
• Extended cylinder lifespan due to no need for replacement if chilling equipment malfunctions.

Negative

• None.

COLUMBUS, Ohio, Feb. 03, 2021 (GLOBE NEWSWIRE) -- Worthington Industries, Inc. (NYSE:WOR) today announced the release of ThermaGuard™ hydrogen cylinders, a new product optimized to meet the unique needs of hydrogen fuel. Meticulously developed using Worthington’s aerospace-grade standards, ThermaGuard hydrogen cylinders are proven to be a more efficient means of transporting and storing high-pressure hydrogen gas.

“Today is an exciting day as we introduce ThermaGuard hydrogen cylinders to the market,” said John H. McConnell II, director of North American High-Pressure Cylinders for Worthington Industries. “Our extensive cross-market experience and research and development of high-pressure composite cylinders has led to a product that enables our customers to extend capacity for hydrogen fuel transportation with faster filling, longer cylinder life and lower equipment and fuel costs. These cylinders will provide sustainable vehicle powertrain and infrastructure developers new opportunities to unlock savings within the hydrogen supply chain.”

ThermaGuard hydrogen cylinders are developed with advanced composite materials and are warranted for their service life at 250 degrees Fahrenheit (121 C) operating temperature. This eliminates the need for hydrogen pre-chilling, and cylinder replacement is not necessary when chilling equipment malfunctions or otherwise goes out of calibration. Older composite cylinder designs are limited to operating temperatures of 185 degrees Fahrenheit (85 C), requiring hydrogen to be pre-chilled to protect cylinders from overheating. Chilling hydrogen is expensive and slows the filling process.

ThermaGuard cylinders will help fuel cell and hydrogen powertrain developers and hydrogen refueling stations with:

• Faster filling: ThermaGuard hydrogen cylinders make faster filling a reality by using aerospace-grade composite materials that have a higher temperature rating and an aluminum liner to prevent significant cylinder temperature increases. Without hydrogen pre-chilling, heavy duty vehicles, like Class 8 trucks and transit buses equipped with ThermaGuard hydrogen cylinders, can be filled in 10-15 minutes versus 25-45 minutes.
• Reduced fuel costs: Hydrogen pre-chilling increases the dispensed cost of hydrogen by $0.22 – $2.00 per kilogram depending on the filling parameters. ThermaGuard hydrogen cylinders can eliminate this extra operating cost.
• Reduced capital expenditure: Hydrogen chilling equipment can have a capital cost of $250,000 – $500,000 depending on the fill station operating parameters. ThermaGuard hydrogen cylinders eliminate these capital expenses.
• Reduced range anxiety: ThermaGuard hydrogen cylinders can meet or exceed SAE J2601 objectives for completeness of fill, without hydrogen pre-chilling.
• Extended life cylinders: Chilling equipment and temperature sensors are prone to failure and are difficult to keep running continuously. Should chilling equipment fail, ThermaGuard hydrogen cylinders do not need replaced after being exposed to high temperatures. ThermaGuard hydrogen cylinders have passed 10,000-cycle fill and vent testing.
  

ThermaGuard hydrogen cylinders are designed to capture, contain and use hydrogen with service pressures ranging from 248–700 bar (3,600–10,150 psi) for usage as motor vehicle fuel containers and in mobile pipeline applications for zero-emission and sustainable mobility solutions.

About Worthington Industries
Worthington Industries (NYSE:WOR) is a leading industrial manufacturing company delivering innovative solutions to customers that span many industries including transportation, construction, industrial, agriculture, retail and energy. Worthington is North America’s premier value-added steel processor and producer of laser welded products; and a leading global supplier of pressure cylinders and accessories for applications such as fuel storage, water systems, outdoor living, tools and celebrations. The Company’s brands, primarily sold in retail stores, include Coleman®, Bernzomatic®, Balloon Time®, Mag Torch®, Well-X-Trol®, General®, Garden-Weasel®, Pactool International® and Hawkeye™. Worthington’s WAVE joint venture with Armstrong is the North American leader in innovative ceiling solutions.

Headquartered in Columbus, Ohio, Worthington operates 51 facilities in 15 states and seven countries, sells into over 90 countries and employs approximately 7,500 people. Founded in 1955, the Company follows a people-first philosophy with earning money for its shareholders as its first corporate goal. Relentlessly finding new ways to drive progress and practicing a shared commitment to transformation, Worthington makes better solutions possible for customers, employees, shareholders and communities.

Safe Harbor Statement
The Company wishes to take advantage of the Safe Harbor provisions included in the Private Securities Litigation Reform Act of 1995 (the “Act"). Statements by the Company relating to its ability to increase market participation, expand and integrate capacity, increase efficiencies and reduce lead time, achieve growth in general and in specific markets, and other statements which are not historical information constitute "forward looking statements" within the meaning of the Act. All forward-looking statements are subject to risks and uncertainties which could cause actual results to differ from those projected. Factors that could cause actual results to differ materially include risks described from time to time in the Company's filings with the Securities and Exchange Commission, including those related to COVID-19 and the various actions taken in connection therewith, which could also heighten other risks.

SONYA L. HIGGINBOTHAM
VP, CORPORATE COMMUNICATIONS AND BRAND MANAGEMENT
614.438.7391 | sonya.higginbotham@worthingtonindustries.com

MARCUS A. ROGIER
TREASURER AND INVESTOR RELATIONS OFFICER
614.840.4663 | marcus.rogier@worthingtonindustries.com

200 Old Wilson Bridge Rd. | Columbus, Ohio 43085
WorthingtonIndustries.com

 

FAQ

What are ThermaGuard hydrogen cylinders by Worthington Industries?

ThermaGuard hydrogen cylinders are a new product designed for the efficient storage and transportation of hydrogen fuel, allowing for faster filling and reduced costs.

How do ThermaGuard cylinders improve hydrogen filling times?

ThermaGuard cylinders can be filled in 10-15 minutes due to their high temperature rating, eliminating the need for hydrogen pre-chilling.

What are the financial benefits of using ThermaGuard hydrogen cylinders?

These cylinders can save users up to $2.00 per kg by removing the costs associated with hydrogen pre-chilling and up to $500,000 in capital expenditures for chilling equipment.

What is the operational temperature of ThermaGuard hydrogen cylinders?

ThermaGuard cylinders operate efficiently at temperatures up to 250°F (121°C), surpassing older models that are limited to 185°F (85°C).

What is the significance of the launch date for ThermaGuard hydrogen cylinders?

The launch on February 3, 2021, marks an important advancement in hydrogen fuel technology, potentially enhancing the hydrogen supply chain.