Chart Industries has signed an exclusive letter of intent to acquire Utah-based Sustainable Energy Solutions (SES).
Founded in 2018, SES prides itself in its Cryogenic Carbon Capture™ (CCC) technology which eliminates most emissions from fossil fuels while enabling better use of intermittent renewables through grid-scale energy storage.
Chart today (15th Dec) said that by coupling SES’s CCC technology with its air-cooled heat exchangers, brazed aluminium heat exchangers, IPSMR® refrigeration/liquefaction system and cryogenic storage and transport equipment, they can create a one-stop full solution option for those looking for integrated technology and equipment.
In addition to expanding Chart’s carbon capture equipment portfolio, the transition will also build upon the sustainability trends and interlinkages between clean energy, clean water, clean food and clean industrial applications.
By combining its expertise with SES, Chart hopes to expand its capabilities and addressable markets in the following areas:
- Small-scale through utility-scale energy storage combined with carbon capture solutions.
- Carbon capture integrated with LNG liquefaction processes and equipment for energy storage.
- Road, rail, and water transport equipment, and onsite storage options for liquid CO2 generated through CCC.
- Utilisation of captured CO2 for pH adjustment and water stability related to water treatment.
The deal is expected to close in the next 30 days, subject to execution of definitive transaction documentation, for $20m in cash and an associated earn-out.
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.