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Chart Industries acquires Cryogenic Gas Technologies

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Hydrocarbon Engineering,

Chart Industries has announced the acquisition of Cryogenic Gas Technologies, Inc. for US$55 million in cash.

Cryo Technologies produces custom engineered process systems to separate, purify, refrigerate, liquefy and distribute high value industrial gases such as hydrogen, helium, argon and hydrocarbons with design capabilities for cold boxes for hydrogen and helium use. The distribution systems Cryo Technologies supplies are located within the helium and hydrogen liquefaction facilities and are inclusive of trailer loading systems, which facilitates the first step in product distribution.

CT Founder and President Rick Hessinger, along with the entire CT team will stay with Chart and continue to be located in their offices in Allentown, Pennsylvania, US.

“We could not be more excited to welcome Rick and the Cryo Technologies team into the Chart family,” stated Jill Evanko, Chart’s CEO and President. “Their world class, differentiated cryogenic engineering expertise, global project experience in hydrogen and helium liquefaction coupled with our process technologies, brazed aluminium heat exchanger and cold box manufacturing capabilities creates the only multi-molecule full-solution liquefaction and equipment offering in the world.”

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