Chart Industries, Inc. (NYSE: GTLS) announced the expansion of its partnerships with McPhy Energy, SA (“McPhy”) and Larsen & Toubro (“L&T”) to advance the development of clean energy solutions.
Chart Industries and McPhy collaborate on hydrogen opportunities
Chart Industries is a world leader in the design and manufacture of highly specialized equipment for a variety of applications in the clean energy and industrial gas markets.
The partnership between L&T and McPhy focuses on thegreen hydrogen market, where McPhy is exclusively licensing its pressurized alkaline cell technology to L&T for cell manufacturing, including future product enhancements. L&T plans to establish a gigawatt-scale cell manufacturing facility based on McPhy’s technology, compatible with the requirements of the U.S. and other markets. Howden, a long-time partner of L&T, has a joint manufacturing facility in Hazira, India, for axial fans and hair heaters.
Chart Industries has already established a commercial memorandum of understanding (“MOU”) with McPhy to collaborate on hydrogen-related opportunities. As well as to work on the scaling up of hydrogen production, storage, transport and refueling projects in all the regions concerned. Through Chart’s commercial agreement with McPhy, Chart will provide hydrogen-related processes and equipment for these applications, including hydrogen compression and liquefaction.
Tripartite partnership is likely to have a significant impact on the global hydrogen market
This extended partnership with McPhy and L&T will enable Chart Industries to further penetrate the Indian market and support the decarbonization of the country by accelerating the hydrogen economy. With Chart’s hydrogen equipment capabilities, including compression via the Howden acquisition, combined with McPhy’s expertise in electrolysis plant design and manufacturing, and L&T’s strong local presence, this three-way partnership is likely to have a significant impact on the global hydrogen market.
Chart Industries is committed to excellence in environmental, social and corporate governance (ESG) issues for both the company and its customers. With more than 25 locations worldwide, from the United States to Asia, Australia, India, Europe and South America, the company maintains accountability and transparency to its team members, suppliers, customers and communities.
Indeed, the partnership between Chart Industries, McPhy and Larsen & Toubro marks an important step in the development of clean and sustainable energy solutions. The partnership leverages the unique expertise of each company to drive the development and deployment of innovative technologies for the hydrogen economy.
