Chart Industries

What Chart Industries does

Chart Industries, Inc. (NYSE: GTLS) is a publicly traded, U.S.-incorporated (Delaware) industrial manufacturer headquartered in Ball Ground, Georgia, with approximately 10,000 employees, 65 manufacturing locations, and over 50 service centers worldwide. Founded in 1992 by brothers Charles and Arthur Holmes and built on cryogenic engineering heritage dating to the 1859 founding of John Marston Ltd and the 1941 invention of the brazed aluminum heat exchanger (BAHX) at Trane, the company designs and manufactures highly engineered process technologies and equipment for the storage, transport, liquefaction, and distribution of gas and liquid molecules across LNG, hydrogen, helium, industrial gases, carbon capture, mining, water treatment, and data center applications.

The company's product architecture rests on three interconnected pillars: (1) cryogenic tank solutions including bulk storage tanks, MicroBulk systems (Perma-Cyl®, Orca™), ISO containers, cryogenic transport trailers, and the world's largest shop-built jumbo cryogenic tanks (1,700 m³) produced at the Teddy2 facility in Theodore, Alabama; (2) heat transfer systems including brazed aluminum heat exchangers (BAHX), air-cooled heat exchangers, LNG liquefaction plants using the proprietary IPSMR® process, hydrogen and helium liquefiers, turboexpanders, and specialty heat exchangers; and (3) rotating and compression equipment, primarily through the 2023 acquisition of Howden, which provides fans, blowers, screw and reciprocating compressors, steam turbines, and mine ventilation/cooling systems. Differentiated technology platforms include IPSMR® for modular mid-scale LNG, Cryogenic Carbon Capture™ (CCC), and CiCi® small-scale carbon capture (acquired with Earthly Labs). Digital offerings are limited to Howden Uptime monitoring, Ventsim DESIGN, Pumpsim, and Engineering Suite simulation tools.

Chart operates an enterprise field sales motion targeting large-scale LNG, industrial gas, and energy transition projects, supplemented by exclusive distribution partnerships (Ratermann Manufacturing for North American MicroBulk, PFAS Guard for water treatment) and an aftermarket service network across 50+ service centers. Revenue is generated primarily through quote-based capital equipment sales, aftermarket parts and service, and equipment leasing (5-year US sales leases and European rentals/finance leases). Customer segments are anchored in Energy/LNG and Industrial Gas markets, with secondary exposure to hydrogen, carbon capture, healthcare, mining, and water treatment. The company has grown substantially through acquisitions—including Howden ($4.4 billion, 2022/2023), Hudson Products ($410 million, 2017), Air-X-Changers ($592 million, 2019), and VRV—and is itself now subject to a $13.6 billion all-cash acquisition by Baker Hughes, announced July 2025 and expected to close mid-2026.

Name

Chart Industries

Legal name

Chart Industries, Inc.

Website

https://chartindustries.com

Company type

Public

Founded year

1992

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Chart Industries designs and manufactures cryogenic equipment, heat transfer systems, and rotating/compression equipment for LNG, hydrogen, industrial gases, carbon capture, and mining applications, serving global enterprise customers across energy, industrial gas, and clean infrastructure markets.

Ownership category

akta.pro rank

Product category

Cryogenic Process Equipment

NAICS

Power Boiler and Heat Exchanger Manufacturing (332410), Pump and Compressor Manufacturing (33391), Engine, Turbine, and Power Transmission Equipment Manufacturing (3336), Metal Tank (Heavy Gauge) Manufacturing (332420), Ventilation, Heating, Air-Conditioning, and Commercial Refrigeration Equipment Manufacturing (33341), Heating Equipment (except Warm Air Furnaces) Manufacturing (333414)

SIC

Heating Equipment, Except Electric & Warm Air Furnaces (3433), Pumps & Pumping Equipment (3561), Industrial & Commercial Fans & Blowers & Air Purifing Equip (3564), Engines & Turbines (3510), Refrigeration & Service Industry Machinery (3580), Sheet Metal Work (3444)

akta.pro primary industry

Heat Transfer Equipment (Heat Exchangers, Boilers, Condensers) (IMAHAEAC)

akta.pro secondary industries

Cryogenic Liquids & Distribution (IMAEACAK), Cryogenic Logistics (LN2 Dry Shippers, -150°C) (HLAGAMAB), Gas Processing Plant Equipment & Skids (Separators, Heat Exchangers, Turboexpanders) (EUAAABAH), Pump & Compressor Packages (Skids, Booster Sets) (IMAHANAG)

Keywords

• Cryogenic equipment
• LNG liquefaction
• Heat transfer systems
• Industrial gas handling
• Rotating compression equipment

Headquarters

HQ city

Ball Ground

HQ country

United States

HQ region

North America

Offices9 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Infrastructure

Revenue model

1. Equipment Manufacturing and Sales: Sale of cryogenic equipment, heat exchangers, tanks, trailers, and process systems for LNG, hydrogen, industrial gases, and specialty applications
2. Aftermarket Parts and Services: Replacement components, repair services, and field services through Chart Parts and service centers globally
3. Equipment Leasing: Sales lease options up to 10-year term in the US, and short/long-term recurring rentals in Europe for cryogenic equipment including tanks, trailers, and LNG fueling stations
4. Modular LNG Solutions: Project-based modular liquefaction plants and integrated process technology solutions for LNG export facilities

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

Chart Industries designs, manufactures, and services highly engineered cryogenic equipment, heat transfer systems, and rotating/compression equipment for the clean energy and industrial gas markets. The company's portfolio spans bulk cryogenic tanks, microbulk storage, LNG liquefaction plants, hydrogen and helium liquefiers, brazed aluminum heat exchangers, air-cooled heat exchangers, turboexpanders, fans, compressors, and carbon capture systems, supported by a global aftermarket service and parts network.

Product overview

Chart Industries is a diversified industrial manufacturer offering a comprehensive portfolio of highly engineered equipment and solutions for clean energy and industrial gas markets. The company's product architecture consists of three interconnected pillars: (1) Cryogenic Tank Solutions covering storage, transport, and distribution of liquefied gases including LNG, hydrogen, helium, nitrogen, oxygen, argon, and CO2; (2) Heat Transfer Systems including brazed aluminum heat exchangers (BAHX), air-cooled heat exchangers, LNG liquefaction plants, turboexpanders, and specialty heat exchangers; and (3) Rotating & Compression equipment via the acquired Howden brand, encompassing fans, compressors, blowers, and mine ventilation/cooling systems. The portfolio spans from small-scale MicroBulk tanks and portable liquid cylinders to massive modular LNG liquefaction plants and jumbo cryogenic tanks. Key technology differentiators include the proprietary IPSMR® liquefaction process, Cryogenic Carbon Capture (CCC™), CiCi small-scale carbon capture (from Earthly Labs), and digital solutions like Ventsim DESIGN mine ventilation simulation and Howden Uptime monitoring. The company operates 64 global manufacturing locations and over 50 service centers across the US, Europe, China, Australia, India, and South America.

Differentiator

Problem solved

Functional benefit

Brands

• ChartWater: Water treatment solutions brand leveraging core engineering, manufacturing expertise and global footprint to bring innovative water treatment solutions to market.
• Nexus of Clean
• CiCi
• IPSMR
• Cooler By Design

Products and services

• LNG Liquefaction Plants Modular LNG liquefaction plants incorporating Chart specialty heat exchangers, designed to reduce cost, schedule, and complexity of large LNG projects and facilitate shale gas exports.
• Cryogenic Tanks Bulk cryogenic storage tanks for liquefied gases including LNG, liquid nitrogen, oxygen, argon, CO2, helium, and hydrogen in various capacities for industrial, medical, and energy applications.
• MicroBulk Storage Systems Compact bulk gas storage and delivery systems (Perma-Cyl®, Orca™) for industrial, medical, and specialty gas customers, enabling efficient on-site gas supply with automatic delivery and inventory management.
• Brazed Aluminum Heat Exchangers (BAHX) Plate-fin heat exchangers used in LNG liquefaction, air separation, petrochemical processing, and other cryogenic applications. Chart is a leading global manufacturer with major facilities in La Crosse, Wisconsin.
• Air Cooled Heat Exchangers Heat exchangers (Hudson Products, Air-X-Changers, Smithco, Hammco brands) used for cooling in oil and gas, power generation, chemical processing, and other industrial applications.
• Hydrogen Liquefiers Cryogenic equipment for liquefying hydrogen for use in clean energy applications, transportation fuel, and industrial processes.
• Helium Liquefiers Cryogenic liquefaction systems for helium, used in semiconductor manufacturing, healthcare, aerospace, and quantum computing applications.
• Turboexpanders Turboexpander equipment (L.A. Turbine brand) used in LNG, hydrogen, and helium liquefaction, and industrial gas applications for power generation and gas cooling.
• Vaporizers Industrial vaporizers for converting liquid gases back to gaseous form, used in LNG terminals, industrial gas distribution, and healthcare applications.
• Small Scale LNG Compact LNG solutions including fueling stations, regasification units, and transport systems for distributed LNG applications in transportation, remote power, and industrial sectors.
• LNG Fueling Stations

Quantifiable outcome

• 270,000 tons of CO2 emissions prevented through LNG deliveries via ISO containers since 2014
• +1 more outcomes

Named customers6 records

Segments8 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• Pulsar Helium Inc.coreStrategic or Co-development Partner · 1 March 2026Letter of Intent signed in March 2026 for Chart to supply integrated CO2 capture and helium liquefaction facility for Pulsar's Topaz Project in Minnesota, where drilling confirmed helium concentrations of up to 14.5%.
• Kathairos SolutionscoreTechnology or Integration · 19 February 2026Partnership where Chart's MicroBulk system provides continuous nitrogen supply for Kathairos' liquid nitrogen system that eliminates methane emissions from pneumatic devices at remote oil and gas well sites. The live tracker shows over 850,000 metric tons of CO2 equivalent emissions abated.
• Ratermann ManufacturingcoreChannel Partner/ Reseller/ Distributor · 16 January 2026North American distribution partnership making Ratermann the exclusive distributor for Chart's complete line of industrial MicroBulk and portable liquid cylinder tanks. The partnership is designed to strengthen inventory availability, shorten lead times, and expand technical support for independent industrial gas distributors.
• European Trucking FleetsminorChannel Partner/ Reseller/ Distributor · 3 September 2025Chart delivered the largest liquefied biogas refueling station in continental Europe in Kallhäll, Sweden, serving European trucking fleets with sustainable fuel solutions.
• LNG Alliance Pte LtdcoreStrategic or Co-development Partner · 11 July 2025Strategic collaboration where LNG Alliance selected Chart IPSMR® process technology and modular liquefaction solution for its Amigo LNG export facility with 7.8 MTPA capacity in Guaymas, Sonora, Mexico.
• PFAS Guard, LLCminorChannel Partner/ Reseller/ Distributor · 3 July 2025ChartWater appointed as exclusive distributor of PFAS Guard's patent-pending PFAS treatment systems, marking a significant expansion of water treatment solutions.
• Flowserve CorporationminorStrategic or Co-development Partner · 4 June 2025Chart Industries and Flowserve originally announced a $19 billion all-stock merger agreement on June 4, 2025. The deal was terminated on July 29, 2025 when Chart accepted Baker Hughes' superior offer. Flowserve received a $266 million termination payment.
• Bloom EnergycoreStrategic or Co-development Partner · 18 February 2025Carbon capture partnership to provide near zero-carbon power solutions for data centers and manufacturers. Bloom's high-temperature fuel cell technology produces CO2-rich exhaust that Chart processes into outputs ready for utilization and sequestration.

Scale indicators10 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Air Liquide: Global industrial gas leader with significant in-house engineering and cryogenic equipment manufacturing for LNG, hydrogen, and helium. Overlaps with Chart on cryogenic tanks, hydrogen liquefiers, and gas distribution equipment.
• Linde PLC: Linde holds the #2 position in cryogenic tanks at 14% global share (vs Chart at 17%) and is a leading industrial gas supplier that also manufactures cryogenic equipment. Direct overlap with Chart across LNG, hydrogen, and industrial gas storage/distribution.
• Air Products and Chemicals: Major industrial gas and hydrogen player with proprietary LNG and hydrogen liquefaction technology. Competes directly with Chart in heat exchangers, cryogenic tanks, and modular hydrogen/LNG process systems.
• Mitsubishi Heavy Industries: Leading LNG liquefaction plant EPC and turbomachinery provider. Competes directly with Chart's IPSMR® modular LNG solution and L.A. Turbine turboexpanders in mid- and large-scale LNG project bids.
• Atlas Copco: Global industrial compressor, blower, and vacuum equipment manufacturer. Directly comparable to Chart's Howden division in rotating and compression equipment for mining, oil & gas, and industrial process applications.
• Flowserve Corporation: Major flow and pump manufacturer originally agreed to a $19B all-stock merger with Chart before Baker Hughes outbid. Competes with Chart/Howden in industrial pumps, compressors, and process equipment for energy and process industries.
• Ingersoll Rand: Diversified industrial manufacturer of compressors, blowers, and vacuum equipment serving oil & gas, mining, and process industries. Direct competitor to Howden's rotating equipment portfolio and aftermarket service business.
• Sulzer: Swiss industrial engineering company manufacturing pumps, process equipment, and rotating machinery for oil & gas, power, and water. Comparable to Chart across pumps/compressors and select cryogenic process equipment.
• Alfa Laval: Global specialist in heat transfer, separation, and fluid handling equipment, including brazed plate heat exchangers used in cryogenic and process applications. Direct peer to Chart's BAHX and air-cooled heat exchanger business.

Broad incumbents

• Baker Hughes Company: Larger energy technology incumbent and currently Chart's acquirer in a pending $13.6B transaction. Overlaps broadly across turbomachinery, process technology, LNG, and hydrogen, and will become Chart's parent company upon close.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/ChartInd
• YouTubeyoutube.com/user/ChartIndustries
• Facebookfacebook.com/ChartInd
• LinkedInlinkedin.com/company/27725
• Instagraminstagram.com/chart_industries

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries24 records

Funding overview

Funding rounds7 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A19 records

Investments4 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Chart Industries