The company broadened its H2 portfolio with a 5 percent equity stake in Transform Materials.
Chart Industries has been making a number of different forms of hydrogen technology investment of late. Most recently, it closed March by completing a $25 million purchase of a 5 percent equity stake in Transform Materials.
Transform is a Florida-based company that uses net-carbon-negative gas conversion processes.
Transform Materials’ process is highly selective and cost effective, converting the methane within natural gas into high-value direct use or downstream reaction products through the use of net-carbon-negative processes. Chart Industries’ hydrogen technology investment into the Florida company is seen as reflection of Chart’s rising interest in H2.
Chart already offers a range of different services targeting the H2 market. They likely view this most recent acquisition as another step into this promising and growing market.
“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,” said Transform Materials Chair David Soane.
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