Chart Industries, BNG Clean Fuel Ink MOU For Hydrogen Equipment Supply

Chart Industries Inc GTLS and BNG Clean Fuel Corporation (BNG) have executed a Memorandum of Understanding (MOU) for hydrogen equipment supply. The financial terms were not disclosed.
Under the MOU, Chart will supply the hydrogen liquefaction process technology, associated equipment as well as a series of hydrogen fuelling stations.
Also, the companies will collaborate to develop further industry relationships with customers in the end-use industries.
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.
Price Action: GTLS shares are trading higher by 2.24% at $117.50 on the last check Wednesday.