GTLS - Chart Industries invests Euro30M in McPhy Energy for hydrogen business

Chart Industries ([[GTLS]] +2.1%) announces strategic investment of €30M in McPhy Energy (MPHYF), resulting in ~4.3% stakes in McPhy capital post completion of its €150M capital offering.McPhy specializes in zero-carbon hydrogen production and distribution equipment. In August, it announced a 1 MW McLyzer electrolyzer production project (400 kg/day) that will supply two McPhy fueling stations.Chart and McPhy also executed a commercial memorandum of understanding to stimulate new hydrogen demand for their respective equipment and solutions globally."We are excited about our next step in partnering with global leaders for a full hydrogen value chain offering, from production through end use construction,” says Chart’s CEO & President Jill Evanko. The company expects $1.1B addressable market for its hydrogen technology by 2023. See view full presentation, here.Previously: Chart Industries acquires Worthington Industries' Theodore (Oct. 13)

For further details see:

Chart Industries invests €30M in McPhy Energy for hydrogen business