Some Recent Developments
In April 2020, Chart Industries has been awarded a design study for hydrogen fuel cells by a naval architect researching hydrogen propulsion through fuel cells for a variety of medium and large ships. Chart holds over 500 liquid hydrogen references, specialist know-how and in-depth hydrogen risk mitigation experience, and therefore it was selected for this kind of project. It will give Chart Industries one more opportunity to show its expertise and to boost its credibility in the market.
In February 2020, Chart Industries, Inc. signed a Letter of Cooperation with ExxonMobil India LNG Limited, an affiliate of ExxonMobil, and Indian Oil Corporation focused on pioneering virtual pipelines to accelerate gas access in India. Virtual pipelines deliver liquefied natural gas by road, rails and waterways not connected by physical pipelines. This opens up company for several cryogenic applications, helping the demand for equipments required for it.
In May 2020, Linde announced that it has started up the first of two new high-purity nitrogen generators in Shanghai, China, as part of a 20-year contract to supply ultra-high purity industrial gases to GTA Semiconductor. The second generator is expected to come on stream by 2022. The new plant is located in the Shanghai Lingang Industrial Zone, one of the largest industrial parks in Shanghai. Linde will supply GTA Semiconductor's US$5.1 billion wafer fabrication plant with ultra-high purity gases such as nitrogen, oxygen, argon, carbon dioxide, as well as compressed dry air (CDA). This will also create demand for cryogenic equipments, giving it a boost in that region.
To request a sample copy or view summary of this report, click the link below: http://www.grandviewresearch.com/industry-analysis/cryogenic-equipment-market
In November 2019, Washington-based BioLife Solutions Inc. bought Custom Biogenic Systems. Inc., a Bruce Township-based cryogenics equipment supplier for $11 million I cash and $4 million in common stock. The deal gives BioLife a new revenue source and technology as the firm aims to build its cryopreservation capabilities and hit $100 million in revenue.
In April 2019, Cardiff based Cryo Storage Solutions secured the final tranche of a £150,000 funding round to complete development of a new cryogenic, low temperature sample storage facility. Cryo Storage Solutions offers a range of cryogenic and -80 degrees celsius storage, disaster recovery and product or risk management services. They hold the exclusive Cryotherm distribution agreement for both the UK and Eire, allowing them to supply high end cryogenic equipment, Dewars, Bio-banks and SiVL Pipework systems. This investment will enable the company to complete its Human Tissue Authority license, meeting increasing demand for high quality cryogenic storage from hospitals, medical research organisations and others, leading to more demand for the cryogenic equipments in the market.
In November 2018, the technology company The Linde Group was awarded a contract from Chinese chemical and energy company Inner Mongolia Huineng Coal Chemical Co Ltd to supply a mid-scale LNG plant near Beinichuan in Inner Mongolia. The Linde Engineering group became responsible for engineering, procurement and site services for the LNG plant with a nameplate capacity of 750,000 tons of liquefied natural gas per annum. The plant’s technology was based on Linde’s proprietary LIMUM process, a multi-stage mixed refrigerant process that provides best-in-class energy efficiency, and proprietary core cryogenic heat exchangers. This deal became an important deal, as it helped Linde group in establishing itself in that region.
In November 2018, Chart Industries, Inc. announced that it completed the acquisition of VRV S.r.l. and its subsidiaries. VRV is a diversified multinational corporation with highly automated, purpose-built facilities for the design and manufacture of pressure equipment serving the Cryogenic and Energy & Petrochemical end markets. This acquisition helped Chart Industries to gain more expertise and technology to expand its own business in new regions.
In January 2018, Chart Industries, Inc. announced the acquisition of Skaff Cryogenics & Cryo-Lease, LLC. Skaff provides quality repair service and remanufacturing of cryogenic and liquefied natural gas storage tanks and trailers. Skaff also maintains a portfolio of cryogenic storage equipment that is leased to customers for temporary and permanent needs. Customers include major gas suppliers, as well as a variety of smaller distributors and end users. This acquisition of Skaff expands Chart’s direct regional presence for service and aftermarket support in the Northeast United States. This is a very strategic expansion for Chart, as they drive to bring more value to their customers.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
No comments:
Post a Comment