GTLS - FuelCell Energy Chart Industries sign MoU on decarbonization hydrogen tech

2023-05-22 12:58:23 ET

FuelCell Energy ( FCEL ) and Chart Industries ( NYSE: GTLS ) said Monday they signed a memorandum of understanding to collaborate on decarbonization and hydrogen technologies ; the stocks trade +7.8% and +2.3% respectively.

The two companies said they will develop opportunities to combine complementary strengths in delivering reliable carbon dioxide capture for use or sequestration, and generation and storage of gaseous or liquefied hydrogen.

The combination "will holistically address customer needs for hydrogen and CO2 liquefaction, compression, storage, beverage-grade CO2, and transport," FuelCell energy ( FCEL ) CEO Jason Few said, citing the food and beverage industry as an example, "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."

More on FuelCell Energy:

• Financial and valuation comparison to sector peers
• Analysis: FuelCell Energy: Carbon Capture Progress With Exxon Mobil Unlikely To Move The Needle
• Stock price return: Down 14% YTD, down 38.5% in the past 12 months

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