Chart recently announced the completion of an expanded investment in HTEC( Hydrogen Technology & Energy Corporation). The investment expands Chart’s ownership to a total of 25% of HTEC’s capital stock on a fully-diluted basis. As part of the expanded ownership, Chart partnered with I Squared Capital, an independent global infrastructure investment managing firm, which acquired 35% of HTEC’s capital stock on a fully-diluted basis in this transaction.
This investment provides HTEC with significant capital to fund new green hydrogen production projects and to expand its hydrogen fueling station portfolio serving both the light-duty and heavy-duty markets.
“It capitalizes HTEC well to address near term opportunities where Chart can benefit as a core supply partner, while also providing flexibility to further consolidate our ownership position in a high-growth hydrogen business with significant Canadian presence and customer base,” stated Jill Evanko, Chart’s CEO.