Chart Industries recently completed the acquisition of the Theodore, Alabama cryogenic trailer and hydrogen trailer (transport) assets of Worthington Industries.
This acquisition includes ownership of the Theodore, Alabama manufacturing site, all trailer-related intellectual property, manufacturing capabilities, equipment and repair backlog. The facility has approximately 300,000 square feet under roof adjacent to the Port of Mobile, and the associated employees will join the Chart team.
Chart explained that this acquisition will produce strong synergies by combining Chart’s deep knowledge of cryogenics and liquid hydrogen storage and handling with the Theodore operation’s expertise and experience in the packaging and assembly of liquid hydrogen trailers.
Expected Chart hydrogen-related revenue from this facility in 2021 is $15 to $20 million with upside potential to $30 million in 2021.