Packed with acquisitions, record-breaking financial results and exciting projects, 2021 has undoubtably been an important year for Chart Industries as it continues to find ways to better serve its global customer base and keep up with new market trends.
Headquartered in Georgia, US, the company is a “molecule agnostic” provider of cryogenic process technologies and equipment for the industrial gas and clean energy, clean water, clean food and clean industrials end markets.
Offering a wide range of equipment for the industrial gases market, including bulk tanks, microbulk tanks, trailers, vaporizers, meters and much more, Chart continues to develop its customer base and offer new innovations to keep up with trends.
Here, in the next instillment of gasword’s 12 Days of Content series, we exclusively speak to Jill Evanko, CEO of President of Chart Industries, to find out just what a year it has been for the manufacturer and what it has planned for 2022.
GW: Thank you for taking the time to talk to us today, Jill. Hydrogen has undoubtably been a huge focus for Chart Industries this year, with the company having inked numerous deals to accelerate a clean energy future. Can you tell us more about some of these key projects and why these are so significant?
Jill Evanko (JE): While we have been designing and manufacturing hydrogen equipment for over 56 years, it has only been since the middle of 2020 that it garnered broader focus beyond the space industry.
We are well positioned in the hydrogen value chain with a very broad menu of options – whether hydrogen liquefaction process, or hydrogen tanks, LH2 trailers, gaseous hydrogen trailers, components, heat exchangers, etc.
Through the first nine months of 2021, we booked just under $200m of hydrogen orders – amazing growth and really demonstrates the future of clean energy will involve hydrogen. Our larger projects are for hydrogen liquefaction plants, which is really important as it is the first part of the value chain – making hydrogen more broadly available from a production perspective.
We view the hydrogen value chain in three parts – production, storage & transport and end use – and we do not nor will not produce or own the molecule – just provide the process and equipment to the operators that want to do that.
GW: What have been some other key focuses for the company this year?
JE: Being molecule agnostic and focused on our core cryogenic capabilities allows us to serve multiple high growth end markets with the same equipment. We have focused on leveraging our existing portfolio and adding technologies and equipment to round it out for full solutions for what I refer to as “the nexus of clean” – clean power, clean water, clean food and clean industrials. For example, we were really excited to add AdEdge Water technologies to our portfolio this year, as we believe clean water is very important globally… and while currently a smaller portion of our total revenues than some other specialty markets, water treatment orders are set for a record 2021!
GW: Throughout 2021, Chart has also announced and completed many acquisitions. Can you tell us about some of these transactions and why they’re so important for the company?
JE: Earlier this month, we officially welcomed our newest “clean” addition to the Chart family, Earthly Labs and founder/CEO Amy George!
The acquisitions that we have done over the past 12 months not only bring full solution offerings to our customers (as well as the option to just buy equipment from our “a la carte” menu of choices) but also, we are very proud of the fact that the founders/CEOs of the companies Chart has acquired over the past 12 months all have stayed at Chart to help us grow our nexus of clean solutions.
These six founders/CEOs are an amazing combination of talented, entrepreneurial people… Andy Baxter (SES, carbon capture), Rick Hessinger (Cryo Technologies, helium and hydrogen liquefaction), Danny Mascari (L.A. Turbine, specialty expanders), Rich Cavagnaro and Greg Gilles (AdEdge Water Technologies, water treatment), and now, Amy George (Earthly Labs, carbon capture for food, beverage, agriculture…. With more markets to be announced soon!). Not only do they bring additional technology and products for our customers, but they also bring new innovative ideas and how we will see, for example, hydrogen and water work together, or carbon capture with food and beverage – what a unique combination of offerings and people.
GW: What does Chart have planned for 2022?
JE: We are very excited about 2022 – continuing to deliver on-time, quality products while taking advantage of the macro tailwinds in our markets, including our expectation that we see some of the big LNG projects move to final investment decision.
GW: And finally, in the spirit of the time of year and the theme of this series, if you could make one Christmas wish for the industrial gases industry, what would it be and why?
JE: That our industrial remains focused on safety and innovation. Our industry is leading the transition to cleaner and greener molecules and the way to get to the carbon emission reduction targets for both the public and private sector are through being innovative but doing so safely.