Chart Industries and fuel cell manufacturer Plug Power Inc. executed a master supply agreement for Chart to supply liquid hydrogen storage and transport equipment to Plug and its subsidiaries. In conjunction with the agreement, Chart received $7.8 million of equipment orders from Plug that are booked in the third quarter of 2020.
Chart’s position in the hydrogen value chain.
Plug Power uses 40 tons of liquid hydrogen per day. Plug Power is well-positioned in the industry with capabilities in generation, liquefaction and distribution of hydrogen fuel, complementing its position in the design, construction, and operation of more than 100 customer-facing hydrogen fueling stations.
Chart also said it was close to executing a formal joint development agreement and entity with one of its key hydrogen customers which will focus on developing first-of-a-kind liquid hydrogen fueling applications.
This agreement builds upon Chart’s 50 plus years of experience designing and manufacturing hydrogen equipment for storage, transport and power applications as well as the customer’s multi-station infrastructure in the United States for the expansion of fuel cell vehicles.
Chart also said that its ISO containers for LNG applications continue to see increasing and heightened demand, with a 30 September 2020 receipt of the second leasing order from New Fortress Energy for ISO containers totaling $7.7 million.
The first order of a similar size was booked in July 2020.