Chart Industries Awarded Order for Hydrogen Liquefier, Liquid Hydrogen Transports and ISO Containers from Element Resources

ATLANTA, March 18, 2024 (GLOBE NEWSWIRE) -- Chart Industries, Inc. (NYSE: GTLS) (“Chart”), a leading global solutions provider to clean energy and industrial gas markets, announces an order from Element Resources Inc (“Element”) for its Lancaster Clean Energy Center (LCEC), a major renewable green hydrogen production facility located in the City of Lancaster, California.

At the LCEC, Element will produce over 20,000 tons of renewable green hydrogen annually through its first phase, making it one of the largest green hydrogen projects in the state.   The LCEC, which is targeted to begin commercial operations in 2026, will operate off-grid, using dedicated photo voltaic (PV) solar to power Element’s electrolyzers to produce zero-emission, renewable hydrogen.   The increased hydrogen production capacity will serve the growing demand for clean mobility fuels as well as clean energy for manufacturing.

Element Resources is purchasing hydrogen liquefaction plants from Chart, utilizing Chart’s hydrogen refrigeration technology, cold box design, and the associated rotating equipment.   This order above includes Chart’s supply of the hydrogen liquefaction system, liquid hydrogen storage tanks, and trailer loadout bays as well as liquid hydrogen transports and ISO Containers.   Hydrogen compression for storage, distribution and heavy duty fueling is also included in this order.

“Element is pleased to have reached an agreement with Chart Industries for the hydrogen handling equipment and systems downstream of the electrolyzers through loading for distribution, we are pleased to have a supplier that designs, engineers and builds in-house essentially all of the hydrogen liquefaction, storage and handling equipment which significantly simplifies the procurement, construction and operation of the plant and facilities,” stated Steve Meheen, Element Resources CEO.

“We are proud to be a partner to Element Resources as they execute on their strategic global buildout in the hydrogen industry,” stated Jill Evanko, Chart’s CEO and President.   “Chart’s complete suite of hydrogen offerings is helping Element Resources drive the energy transition forward.”

Forward Looking Statements

Certain statements made in this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning the Company’s business plans, products and technology. future orders and customer requirements, business trends, and other information that is not historical in nature. Forward-looking statements may be identified by terminology such as “may,” “will,” “should,” “could,” “expects,” “anticipates,” “believes,” “projects,” “forecasts,” “outlook,” “guidance,” “continue,” or the negative of such terms or comparable terminology.

Forward-looking statements contained in this presentation or in other statements made by the Company are made based on management’s expectations and beliefs concerning future events impacting the Company and are subject to uncertainties and factors relating to the Company’s operations and business environment, all of which are difficult to predict and many of which are beyond the Company’s control, that could cause the Company’s actual results to differ materially from those matters expressed or implied by forward-looking statements. Factors that could cause the Company’s actual results to differ materially from those described in the forward-looking statements include those found in Item 1A (Risk Factors) in the Company’s most recent Annual Report on Form 10-K filed with the SEC, which should be reviewed carefully. The Company undertakes no obligation to update or revise any forward-looking statement.

About Chart Industries, Inc.

Chart Industries, Inc. is an independent global leader in the design, engineering, and manufacturing of process technologies and equipment for gas and liquid molecule handling for the Nexus of Clean™ - clean power, clean water, clean food, and clean industrials, regardless of molecule. The company’s unique product and solution portfolio across stationary and rotating equipment is used in every phase of the liquid gas supply chain, including engineering, service and repair and from installation to preventive maintenance and digital monitoring. Chart is a leading provider of technology, equipment and services related to liquefied natural gas, hydrogen, biogas and CO2 capture amongst other applications. Chart is committed to excellence in environmental, social and corporate governance (ESG) issues both for its company as well as its customers. With 64 global manufacturing locations and over 50 service centers from the United States to Asia, Australia, India, Europe and South America, the company maintains accountability and transparency to its team members, suppliers, customers and communities. To learn more, visit www.chartindustries.com

About Element Resources

Element Resources Inc. is a development company focused on the production of 100% Green Hydrogen. Based in Houston, TX, Element supports its numerous California initiatives from its San Diego office. The company’s key personnel have over 100 years’ energy sector development experience. Element selectively invests in hydrogen-related technologies that enable production of zero carbon fuel and holds patents for large capacity, low-cost underground hydrogen storage and advanced, lower-cost hydrogen electrolyzer catalysts. For more information on this project or Element Resources, please email info@elementresources.com.

Investor Relations Contact – Chart Industries:

John Walsh
VP, Investor Relations
770-721-8899
john.walsh@chartindustries.com

Media Contact - Element Resources

Avery Barnebey
Chief Financial Officer
abarnebey@elementresources.com
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