GenH2 and Chart Industries Execute MoU for Hydrogen Liquefaction Systems
March 08 2023 - 6:00AM
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.
About GenH2GenH2 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 IndustriesChart 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 StatementThis 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.
GenH2 Contact:Sue Magi - VP
Marketing561-350-0887Sue@genh2.com
Chart Industries Contact:John Walsh – VP of
Investor Relations770-721-8899john.walsh@chartindustries.com
Chart Industries (NYSE:GTLS)
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