FuelCell Energy, Inc. (NASDAQ:FCEL) and Chart Industries, Inc. ((“Chart”, NYSE:GTLS) signed a Memorandum of Understanding (MOU) to develop opportunities to combine the companies’ complementary strengths in delivering reliable and efficient carbon dioxide (CO2) capture for use or sequestration, as well as generation and storage of gaseous or liquified hydrogen. FuelCell Energy brings its expertise in manufacturing two high-temperature electrochemical fuel cell energy platforms for decarbonizing power and producing hydrogen, while Chart is a leading global manufacturer of highly engineered equipment in the Nexus of Clean, which includes CO2 and hydrogen compression and liquefaction, and equipment for the entire supply chains of both molecules.
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“Chart brings a wealth of technologies and capabilities to support every phase of the liquid gas supply chain that are complementary to FuelCell Energy’s systems. We believe the combination of Chart and FuelCell Energy technology will holistically address customer needs for hydrogen and CO2 liquefaction, compression, storage, beverage-grade CO2, and transport,” said Jason Few, CEO of FuelCell Energy. “For example, in the food and beverage industry where access to beverage-grade CO2 is critical for operations but often in short supply, we believe our combined strengths will help the sector with consistent pricing, availability and quality,” added Few.
“FuelCell Energy’s technology strength in hydrogen production and carbon capture is not only a key opportunity in the marketplace but also aligned with the values and sustainability goals we hold at Chart,” said Jillian Evanko, CEO of Chart Industries, Inc. “There is a strong opportunity to collaborate on our technologies while helping customers to impact how carbon dioxide is utilized, stored, or sequestered and enabling the safe and reliable distribution and use of hydrogen, a vital fuel for the energy transition,” concluded Evanko.
