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Chart Industries’ IPSMR® Process Technology Delivers First LNG at New Fortress Energy’s Fast LNG Project

Written by Customer Service on . Posted in Public Companies.

ATLANTA, July 22, 2024 (GLOBE NEWSWIRE) — Chart Industries, Inc. (NYSE: GTLS) (“Chart”), a leading global solutions provider to clean energy and industrial gas markets, announces that its Integrated Pre-Cooled Single Mixed Refrigerant (“IPSMR®”) process technology delivered First LNG at New Fortress Energy Inc.’s (NASDAQ: NFE) (“NFE”) initial Fast LNG (“FLNG”) asset located offshore Altamira, Mexico. With this significant milestone, FLNG establishes itself as the fastest large-scale LNG project ever developed.

NFE’s proprietary Fast LNG design is the first of its kind, pairing the latest advancements in Chart’s modular liquefaction technology with jack up rigs or similar offshore infrastructure to enable a faster deployment schedule than traditional liquefaction facilities. With a production capacity of 1.4 MTPA in a single train, or approximately 70 TBtus, FLNG will play a pivotal role in supplying low-cost, clean LNG to NFE’s downstream terminal customers.

“We appreciate our long-standing partnership with Chart Industries who played a pivotal role in our offshore development in Altamira,” said Wes Edens, Chairman and CEO of New Fortress Energy. “First LNG represents a transformative moment for NFE and the industry as a whole, and reaffirms our position as a fully integrated leader in the global LNG market.”

“We are proud to support NFE and the industry with our modular liquefaction technology and all mission critical equipment, including brazed aluminum heat exchangers, cold boxes and air coolers,” stated Jill Evanko, Chart’s CEO and President. “We congratulate NFE for this success of First LNG, and we look forward to further supporting the industry with our modular, adaptable, resilient and cost-effective technology and products.”

About Chart Industries

Chart Industries, Inc. is a 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.

Investor Contact:

John Walsh
VP, Investor Relations
1-770-721-8899
john.walsh@chartindustries.com

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