Published on 30 May 2024 on Zacks via Yahoo Finance

Chart Industries (GTLS) Secures Compression Order in Portugal

Chart Industries, Inc. GTLS recently secured an order from Repsol to provide its advanced Howden hydrogen compression solutions for the expansion project of Repsol’s Sines industrial complex in Portugal.GTLS’ shares decreased 1.5% yesterday, ending the trading session at $152.86.Headquartered in Madrid, Spain, Repsol is a leading manufacturer and distributor of various petrochemical products that ranges from basic petrochemicals to derivatives. This includes several types of recyclable polyolefins, with a high degree of differentiation.

Inside the Headlines

Repsol’s expansion project at its Sines industrial complex involves the construction of two polypropylene and polyethylene plants with an investment of €657m. These plants will use solar-powered green electrolytic hydrogen to produce polymeric materials. Notably, the polymeric materials will be 100% recyclable and used in pharmaceutical, food and automotive industries.Per the deal, Chart Industries will supply two diaphragm compressors that will ensure consistent delivery of high-pressure hydrogen for the production of polymeric materials.