GTLS - Chart Industries buys 5% stake in Transform Materials signs commercial MoU

Chart Industries (GTLS) acquires a 5% interest in sustainable chemical technology company Transform Materials for $25M, and signs a binding commercial MoU for commercial collaboration and equipment supply arrangements for Chart to supply Transform projects.Transform Materials uses microwave plasma to convert natural gas into acetylene and hydrogen via a net carbon-negative process that converts the methane in natural gas into high-value products suitable for direct use or downstream reactions.Transform's process has been adopted via a global licensing agreement with DSM Nutritional Products Ltd., with "multiple other commercial pipeline opportunities" this year in North America and Europe.Chart Industries' entry into the hydrogen market is "a big deal for Mr. Market," but the stock is overpriced, Long Player says in a neutral analysis posted recently on Seeking Alpha.

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Chart Industries buys 5% stake in Transform Materials, signs commercial MoU