Chart Industries today (15th Dec) confirmed it has acquired a 15% stake in Hydrogen Technology & Energy Corporation (HTEC) and executed a binding commercial Memorandum of Understanding (MoU) with the company.
Based in Vancouver, HTEC designs, builds, and operates hydrogen fuel supply solutions to support the deployment of hydrogen fuel cell electric vehicles. With existing refuelling stations in British Columbia, Quebec and Alberta, the investment further supports Chart’s clean energy focus.
In conjunction with the investment, the signed MoU will further help Chart gain access to new customers and regions. Sharing the MoU details today, the liquefaction and cryogenic equipment manufacturer said it established commercial collaboration and an equipment supply agreement, through which it will now supply HTEC projects.
Opening doors to HTEC’s strong customer base, including Shell, 7 Eleven, Toyota and Hyundai, along with solid relationships with Canadian governments, the MoU and investment helps to expand Chart’s equipment presence.
Commenting on the investment, Jill Evanko, Chart’s CEO and President, said, “This investment in and commercial agreement with HTEC is yet another step in expanding our high-growth products and businesses within Chart, specifically clean energy and specialty products and markets.
“We are excited to have a more significant presence in Canada, a country with a federal government as well as provincial governments committing substantial funding to boosting the hydrogen fuel sector including a National Hydrogen Strategy to be released before year-end.”
Colin Armstrong, HTEC’s President and CEO, added, “Strategic collaborations, like the one we’re thrilled to be announcing today with Chart, have been a critical part of our company’s evolution.”
“We are proud to work with Chart and are excited about the range of products they offer that will play a key role in the global push towards more sustainable energy systems.”
gasworld will publish an exclusive interview with Jill Evanko in December, as part of our A Christmas Twist: The 12 Days of Content series. Look out for it on the website later this month.