Chart Industries Inc. has announced the completion of an investment in Transform Materials in the amount of US$25 million for 5% of its equity.
Transform Materials is a sustainable chemical technology company that uses microwave plasma to convert natural gas into acetylene and hydrogen. Its highly selective, cost-effective, net-carbon-negative process converts the methane in natural gas into high-value products suitable for direct use or downstream reactions.
“We transform methane into acetylene and hydrogen, critical precursors for the synthesis of high-value chemical end products, without using traditional techniques that form carbon dioxide. That means we can meet important future needs of the petrochemical industry without creating harmful greenhouse gases,” said David Soane Ph.D., Chairman of Transform Materials. “An important benefit of our technology is that it repurposes the carbon that methane – a potent greenhouse gas – contains, so that it doesn’t enter the atmosphere. We saw immediately how Chart’s process chemicals and hydrogen technologies can help us deliver clean, high-purity hydrogen and acetylene to our customers at scale.”
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