GTLS - Chart Industries to acquire Sustainable Energy Solutions for $20M in cash and an associated earn-out.

Chart Industries (GTLS) has signed an exclusive letter of intent to acquire Sustainable Energy Solutions for $20M in cash and an associated earn-out.The deal is expected to close in the next 30 days. The acquisition will not make any material impact to 2021 outlook.Following the transaction, the company's total addressable market for carbon and direct air capture will expand from $400M to $600M in the near-term.The company also announced the completion of an investment in HTEC Hydrogen Technology & Energy Corporation of C$20M for 15.6% of its capital stock on a fully-diluted basis.

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Chart Industries to acquire Sustainable Energy Solutions for $20M in cash and an associated earn-out.