LNG

US LNG equipment-maker Chart Industries said it received orders for its ISO containers for LNG applications with a second leasing order from Latin American and Caribbean project New Fortress Energy.

At the same time, Atlanta, Georgia-based Chart is expanding its liquid hydrogen and LNG businesses with strategic agreements.

Chart said the value of the latest New Fortress contract totaled $7.7 million.

“The first order of a similar size was booked in July 2020, and we look forward to our continued relationship with New Fortress as they execute their vision,” said chart.

“As a reminder, we see double digit near-term growth in our repair, service and leasing business, and continue to expect growing demand for LNG equipment for infrastructure,” stated the company.

Chart also completed the divestiture of its cryobiological products business, MVE Biological Products, to Cryoport Inc., headquartered in Brentwood, Tennessee, for $320M in cash.

In other activities, Chart and Plug Power Inc., based in Latham, New York state, executed a master supply agreement for Chart to deliver liquid hydrogen storage and transport equipment to Plug and its subsidiaries.

“We are excited about this agreement between two strong and experienced companies in the hydrogen value chain,” said Chart.

“In conjunction with the agreement, Chart received $7.8M of equipment orders from Plug that are booked in the third quarter of 2020,” it added.

Plug Power is a leader within the US hydrogen economy, using 40 tons of liquid hydrogen per day.

“Plug Power is well-positioned in the industry with capabilities in generation, liquefaction and distribution of hydrogen fuel, complementing its industry-leading position in the design, construction, and operation of more than 100 customer-facing hydrogen fueling stations,” explained Chart.

Char stated that it was close to executing a formal joint development agreement and entity with one of its key hydrogen customers which will focus on developing first-of-a-kind liquid hydrogen fueling applications.

“This agreement builds upon Chart’s 50-plus years of experience designing and manufacturing hydrogen equipment for storage, transport and power applications as well as our customer’s multi-station infrastructure in the United States for the expansion of fuel cell vehicles,” it explained.

“Timing this agreement with the California Energy Commission’s September 2020 grant funding for multi-year, multiple hydrogen fuel stations, the future of a scalable fueling infrastructure is accelerating,” added Chart.