Chart Industries has acquired water cleantech company BlueInGreen.
The US cryogenic equipment manufacturer yesterday (3rd Nov) said it had completed the acquisition for a purchase price of $20m in cash at closing (subject to customary adjustments).
As a result of the acquisition, Chart’s equipment and BlueInGreen’s technology will create solutions to efficiently deliver dissolved oxygen, carbon dioxide and ozone into water results in a full dissolution package for water treatment.
The Chart and BlueInGreen solutions will be offered either through a Treatment-as-a-Service (“TaaS”) contract, capital sale, or a combination thereof via a la carte services, further building out our repair, service and leasing business.
In a statement, Chart said that its LNG products and hydrogen offering, coupled with BlueInGreen’s approach, uniquely positions the company to support the increasing infrastructure buildout where water treatment facilities are accompanying clean energy power sources.
Jill Evanko, CEO and President of Chart, said, “In addition to this being a natural fit for us, we gain an experienced management team full of engineering and industry experts who are committed to staying with the business.”
“Chris Milligan, CEO of BlueInGreen, will run the combined water treatment business and work closely with our global commercial and engineering teams as we further penetrate water treatment projects in both domestic and international markets.”
“This is yet another step in our ability to leverage the unique opportunity that Chart has with hydrogen, LNG, and water working together to address sustainability, power and water needs.”
Chris Milligan, CEO of BlueInGreen, added, “We are thrilled to join Chart Industries’ portfolio of proven technologies and iconic brands. This partnership pairs BlueInGreen’s expertise with Chart’s global footprint, allowing for enhanced integration, increased response time and a more robust service fleet as we collectively bridge the gap between industrial gas and water markets.”
“While we are far from our start-up days, our services, our technology, our team and our mission at BlueInGreen have not changed. We will always be BIG. But with Chart’s wealth of knowledge, relationships and resources, BIG just got a lot bigger.”