Chart Industries and BNG Clean Fuel Execute Memorandum of Understanding for Hydrogen Liquefaction and Equipment Supply
January 04 2023 - 7:00AM
Chart Industries, Inc. (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 and BNG Clean Fuel Corporation (“BNG”), a private
company focused on the delivery of scalable infrastructure
solutions for the production, storage, and delivery of hydrogen
fuel to the power, marine, rail, oil & gas, mining, and
transportation industries, announced their executed Memorandum of
Understanding (“MOU”) for Chart to supply the hydrogen liquefaction
process technology, associated equipment as well as a series of
hydrogen fuelling stations. Additionally, the companies will
collaborate to develop further industry relationships with
customers in the end-use industries described above to utilize
BNG’s "hub, spoke and wheel model" facilities for hydrogen
production, virtual pipeline networks, bulk cargo shipping, and
fuel dispensing stations.
BNG is focused first on their DenverH2 pilot hub with dual-22
ton per day capacity hydrogen liquefaction facilities, a centrally
located storage terminal, 10 liquid hydrogen stations, tankers and
mobile fuelling equipment which will be provided by Chart. While no
orders have been booked at Chart related to this MOU or project,
they are anticipated to be booked in 2023 and 2024 for both the
equipment and process technology scope.
“In partnering with Chart Industries, BNG has aligned with a
recognized global leader in the manufacturing of the
highest-quality equipment in the industry. This relationship will
help solidify our capitalization efforts and attract additional key
partners to ensure the success of our first hydrogen hub and
rapidly develop other planned regional markets,” said Eliot Barton,
CEO of BNG Clean Fuel.
“BNG is taking a pragmatic approach to scaling of the hydrogen
economy, with a focus on the hub and spoke model starting in North
America,” stated Jill Evanko, Chart’s CEO and President. “This MOU
brings Chart’s extensive technology and equipment experience to the
project. We look forward to supporting BNG’s endeavors to deliver
another option to the hydrogen end-use market.”
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 manufacturing
locations from the United States to China, 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 BNG Clean Fuel Corporation (BNG)BNG is a
privately held Delaware Corporation based in Aurora, CO. BNG is
focused on the development of a scalable infrastructure solution
for the production, storage, and delivery of hydrogen fuel to high
horsepower Industries including power, marine, rail, oil & gas,
mining, and transportation markets throughout North America. The
company plans to build a series of "hub, spoke and wheel model"
facilities with hydrogen production, virtual pipeline networks,
bulk cargo shipping, and fuel dispensing stations. BNG is currently
involved in the development of several regional multi-station pilot
hubs in the United States to help accelerate investment and
buildout according to the Paris Agreement of Net Zero Carbon 2050.
To learn more about BNG please visit www.bngcleanfuel.com
Contacts: BNG Clean Fuel
CorporationEliot BartonFounder &
CEO1-720-503-8325eliot.barton@bngcleanfuel.com
Chart Industries, Inc.John WalshVP, Investor
Relations1-770-721-8899john.walsh@chartindustries.com
Chart Industries (NYSE:GTLS)
Historical Stock Chart
From Apr 2024 to May 2024
Chart Industries (NYSE:GTLS)
Historical Stock Chart
From May 2023 to May 2024