GenH2 And Chart Industries Execute MoU For Hydrogen Liquefaction Systems
Collaboration will Meet Growing Liquid Hydrogen Demand for Clean Energy Transition
Titusville, FL. and Atlanta, GA /PRNewswire/ - GenH2, an industry leader in hydrogen infrastructure solutions, and Chart Industries (NYSE: GTLS) ("Chart"), a leading global engineering design and manufacturer of highly engineered equipment servicing multiple applications in the clean energy and industrial gas markets, have formed a strategic partnership to jointly market and distribute small-scale hydrogen liquefaction technologies globally. Included in the agreement are collaboration on global sales and marketing opportunities, equipment manufacturing and supply, and the deployment of GenH2's 1,000 kg/day hydrogen liquefier.
Demand for distributed hydrogen infrastructure has grown significantly and the supply of liquid hydrogen remains low or non-existent in some geographies. GenH2's 1000 Kg/day solution will allow for the deployment of a scalable, modular distributed infrastructure that breaks geographic constraints.
According to the details of the MOU, GenH2 will incorporate Chart equipment into their liquefaction systems, inclusive of storage, heat exchangers, and other key components. In addition to its global footprint, Chart also has 60 years of experience manufacturing hydrogen equipment that leads the industry in performance and quality. "In a market where supply chain concerns are rampant, this strategic partnership will allow us to meet our growing order list," said Greg Gosnell, President and CEO of GenH2.
The GenH2 flagship 1 TPD liquefaction system offers 1,000 kg/day of pure para hydrogen using technology that is optimized for performance and efficiency. The small footprint of the system was intended to be deployed at the point of demand, providing the user with flexibility and control over their energy source. This partners well as a complement to Chart's larger H2 liquefaction capabilities and allows Chart to focus on expanding larger-scale solutions and GenH2 to focus on small, distributed liquefaction systems.
Additionally, the two companies will collaborate to continue to develop industry relationships across the full hydrogen value chain as well as pursue new customers where opportunities exist. Gosnell added, "Our new partnership with Chart will allow GenH2 to accelerate its market expansion plans into new territories. "
"Partnering with GenH2 on technology and equipment is a positive for the industry in furthering hydrogen liquefaction options of all scales and for a variety of applications," stated Jill Evanko, Chart's CEO. "We are excited to collaborate with GenH2 to bring these innovative solutions to market in a safe and efficient manner."
The agreement follows GenH2's recent introduction of its GenH2 LS20 Mobile Liquid Hydrogen System, an end-to-end liquefication system that functions both as a stationary unit, or on a trailer for mobile use. As a complete system, the LS20 can liquefy, store, and dispense liquid hydrogen.
For more information, please visit www.DiscoverHydrogen.com.
GenH2 is a technology leader in hydrogen infrastructure systems for advanced clean energy. GenH2 solutions will allow for safe liquefaction, storage, and distribution of liquid hydrogen. The company will focus on mass-producing light-scale equipment to speed infrastructure buildout and make hydrogen accessible for everyday use around the globe. The Titusville, Florida-headquartered technology team includes former NASA researchers and developers who possess decades of experience researching, engineering, and building hydrogen solutions. Learn more about GenH2 at www.DiscoverHydrogen.com
About Chart Industries
Chart Industries (NYSE: GTLS) is a leading global manufacturer of highly engineered equipment servicing multiple applications in the clean 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. We are committed to excellence in environmental, social and corporate governance (ESG) issues both for our company as well as our customers. With over 25 global locations from the United States to Asia, Australia, India, Europe and South America, we maintain accountability and transparency to our team members, suppliers, customers and communities. To learn more, visit www.ChartIndustries.com.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, our expectations regarding the demand for liquid hydrogen, our ability to meet that demand, and our plans for expansion. These forward-looking statements are based on our current expectations, assumptions, estimates and projections about our business and the industry in which we operate, and involve known and unknown risks, uncertainties and other factors that may cause our actual results to be materially different from any future results expressed or implied by these statements. Factors that could cause actual results to differ materially from our expectations include, but are not limited to, changes in demand for liquid hydrogen, competition in the industry, and slower than anticipated growth and market acceptance of these technologies and solutions or unanticipated challenges with the timing or technical specifications underlying the development of the technologies and solutions. We undertake no obligation to update any forward-looking statements to reflect events or circumstances after the date they were made, except as required by applicable law.
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