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chart-acquires-5-stake-in-transform-materials-signs-hydrogen-mou
chart-acquires-5-stake-in-transform-materials-signs-hydrogen-mou

Chart acquires 5% stake in Transform Materials; signs hydrogen MoU

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Chart Industries has made yet another move in the emerging hydrogen economy, having yesterday (31st March) completed a $25m investment in Transform Materials for a 5% equity stake.

Based in Florida, Transform Materials uses a highly selective, cost-effective, net-carbon-negative process converts the methane in natural gas into high-value products suitable for direct use or downstream reactions

In addition to the investment, the companies have also inked a Memorandum of Understanding (MoU) to establish a commercial collaboration and equipment supply agreements, through which Chart with supply Transform projects.

“We transform methane into acetylene and hydrogen, critical precursors for the synthesis of high-value chemical end products, without using traditional techniques that form carbon dioxide. That means we can meet important future needs of the petrochemical industry without creating harmful greenhouse gases,” said David Soane, Chairman of Transform Materials.

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