Chart Industries and ABB Execute Commercial and Development Agreement For Standardizing Control Packages and Instrumentation ...
May 07 2021 - 8:00AM
Chart Industries, Inc. (“Chart”) (NYSE: GTLS), a leading
diversified global manufacturer of highly engineered equipment for
the industrial gas and clean energy industries today signed a
Development and Commercial Memorandum of Understanding (“MOU”) with
ABB, Inc. (“ABB”) (NYSE: ABB), a leading global technology company
providing control system and electrical equipment to support
Chart’s modular offerings for liquefied natural gas, hydrogen,
biogas, water treatment and CO2 Capture projects.
Chart and ABB have complementary offerings and
share a passion for clean energy, water and industrial
applications. Our partnership is modularizing solutions in key
emerging segments to drive down cost and minimize risks. As part of
the MOU, ABB will develop standard modular controls, automation,
power supply and telecoms solutions for (but not limited to) the
following Chart offerings:
-
Hydrogen and natural gas liquefaction plants where there is
significant electrical content
-
Transform Materials’ plants, a sustainable chemical company with a
patented net-carbon-negative process to cost-effectively produce
high purity acetylene and hydrogen
-
BlueInGreen water treatment dissolution skids
-
Carbon capture plants
“The combination of our extensive process
technology and equipment offering for standardized, modular, and
short lead-time small-scale solutions will be further bolstered by
this work with ABB, whose long history and experience in
instrumentation, controls, power supply and automation technologies
will help bring our offering to the next level,” stated Jill
Evanko, Chart’s CEO and President.
Brandon Spencer, President of ABB Energy
Industries added “Sustainability is at the center of our
collaboration with Chart Industries. Our partnership brings
together Chart Industries’ process knowledge and technology with
ABB’s extensive experience in automation and power, resulting in
innovative solutions and reduced cost. Ultimately, our goal is to
support the commercial viability of these emerging segments.”
About Chart Industries,
Inc.
Chart Industries, Inc. is a leading independent
global manufacturer of highly engineered equipment servicing
multiple applications in the Energy and Industrial Gas
markets. Our 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.
About ABB, Inc.
ABB (ABBN: SIX Swiss Ex)
is a leading global technology company that energizes the
transformation of society and industry to achieve a more
productive, sustainable future. By connecting software to its
electrification, robotics, automation and motion portfolio, ABB
pushes the boundaries of technology to drive performance to new
levels. With a history of excellence stretching back more than 130
years, ABB’s success is driven by about 105,000 talented employees
in over 100 countries. www.abb.com
FORWARD-LOOKING STATEMENTS
Certain statements made in this press release
are forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements include statements concerning the Company’s business
plans, including statements regarding pending acquisitions,
completed acquisitions, cost synergies and efficiency savings,
objectives, future orders, revenues, margins, earnings or
performance, liquidity and cash flow, capital expenditures,
business trends, governmental initiatives, including executive
orders and other information that is not historical in
nature. Forward-looking statements may be identified by
terminology such as "may," "will," "should," "could," "expects,"
"anticipates," "believes," "projects," "forecasts," “outlook,”
“guidance,” "continue," “target,” or the negative of such terms or
comparable terminology.
Forward-looking statements contained in this
press release or in other statements made by the Company are made
based on management's expectations and beliefs concerning future
events impacting the Company and are subject to uncertainties and
factors relating to the Company's operations and business
environment, all of which are difficult to predict and many of
which are beyond the Company's control, that could cause the
Company's actual results to differ materially from those matters
expressed or implied by forward-looking statements. Factors
that could cause the Company’s actual results to differ materially
from those described in the forward-looking statements
include: the Company’s ability to successfully integrate
recent acquisitions and achieve the anticipated revenue, earnings,
accretion and other benefits from these acquisitions; risks
relating to the recent outbreak and continued uncertainty
associated with the coronavirus (COVID-19) and the other factors
discussed in Item 1A (Risk Factors) in the Company’s most recent
Annual Report on Form 10-K filed with the SEC and Quarterly Reports
on Form 10-Q, which should be reviewed carefully. The Company
undertakes no obligation to update or revise any forward-looking
statement.
For more information, click here:
http://ir.chartindustries.com/
Investor Relations Contact – Chart
Industries:
Wade Suki, CFADirector of Investor
Relations832-524-7489wade.suki@chartindustries.com
Media Contact –ABB:
Tori Browntori.brown@admiralassociates.co.uk+447847626247
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