VRV Group

What VRV Group does

VRV Group (legal entity VRV Srl) is a Milan, Italy-based industrial equipment manufacturer founded in 1956 and operating as a wholly-owned subsidiary of Chart Industries (NYSE: GTLS). The company designs and fabricates cryogenic storage, transport, and vaporization systems for liquefied industrial gases — nitrogen (LIN), oxygen (LOX), argon (LAR), carbon dioxide (LCO2), nitrous oxide (LN2O), hydrogen (LH2), and LNG — as well as specialty heat transfer and pressure-containing equipment (reactors, columns, drums, separators, shell-and-tube heat exchangers) for refining, petrochemical, and fertilizer applications. Core product lines include the Eagle and Zenith vacuum-insulated cryogenic tank series (3,000L to 1,000,000L), the Ulysses semi-trailer and rigid tanker mobile units (2,000L to 67,000L), MicroBulk CRYOCYL systems, vaporizers (30 to 2,500 Nm3/hr), ISO containers, vacuum insulated pipe, and the DynaLNG dual-nozzle LNG/bio-LNG dispenser. Manufacturing is split between Ornago (Milan) for engineering, the Energy & Chemicals center of excellence, and Sri City (India) for large-scale fabrication, including a record 735 KL liquid nitrogen tank.

VRV operates as an enterprise field sales organization, selling custom engineered-to-order capital equipment via direct RFQ and email inquiry channels into industrial gas companies, energy and LNG operators, petrochemical/refining complexes, aerospace/space research entities, and healthcare/medical oxygen providers. Pricing is quote-based with multi-year contract cadence; the company also generates recurring revenue through the European Cryogenic Aftersales Service network (servicing, refurbishments, spare parts, leasing), a Type C inspection body for metrological verification under ISO/IEC 17020, and Chart University technical training. Its go-to-market is fully integrated with Chart Industries' global manufacturing footprint (US, Europe, China) and aftermarket infrastructure.

The competitive position rests on broad multi-standard certification (EN, ASME, PED, TPED, ADR, GOST, US-DOT), proprietary vacuum-insulation technology, and capital-intensive fabrication capability (e.g., 185-ton tanks, 46m length). The strategic backdrop is being reshaped by Baker Hughes' July 2025 announced acquisition of Chart Industries, which would place VRV inside a much larger energy technology portfolio.

Name

VRV Group

Legal name

VRV Srl

Website

https://vrv.com

Company type

Private

Founded year

1956

Operating status

Operating

Headcount range

51–100 employees

Short description

VRV Group, a Chart Industries subsidiary founded in 1956 in Milan, Italy, designs and manufactures cryogenic storage tanks, mobile units, vaporizers, and specialty heat transfer equipment for industrial gas, LNG/energy, petrochemical, and aerospace customers from facilities in Italy and India.

Ownership category

akta.pro rank

Product category

Cryogenic Industrial Equipment Manufacturing

NAICS

Ventilation, Heating, Air-Conditioning, and Commercial Refrigeration Equipment Manufacturing (3334), Power Boiler and Heat Exchanger Manufacturing (332410), Air-Conditioning and Warm Air Heating Equipment and Commercial and Industrial Refrigeration Equipment Manufacturing (333415)

SIC

Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip (3585), Refrigeration & Service Industry Machinery (3580)

akta.pro primary industry

Gas Handling Equipment & Storage (Cylinders/Tanks/Valves) (IMAEACAL)

akta.pro secondary industries

Heat Transfer Equipment (Heat Exchangers, Boilers, Condensers) (IMAHAEAC), Chemical Processing Equipment (Reactors, Mixers, Agitators) (IMAHAEAA), Industrial Gases (Compressed/Cryogenic) Bulk Transport (TLADALAE)

Keywords

• Cryogenic storage tanks
• Industrial gas equipment
• Pressure vessel manufacturing
• Vacuum insulated tanks
• Heat transfer equipment

Headquarters

HQ city

Milano

HQ country

Italy

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Cryogenic Equipment Manufacturing and Sales: Revenue generated from the design, engineering, manufacturing and sale of cryogenic storage tanks, mobile units (tankers, trailers), vaporizers, and specialty heat transfer equipment. Products include standardized lines (Eagle, Zenith) and custom engineered-to-order solutions. Capital equipment sales with long sales cycles targeting industrial gas companies, energy companies, and petrochemical facilities.
2. Aftermarket Services and Parts: Comprehensive after-sales service including servicing, repairs, refurbishments, spare parts and leasing through Chart's European network of Cryogenic Aftersales Service centers. Includes Cryotek Services and Cryogenic Aftersales Service offerings.
3. Inspection and Certification Services: Type C inspection body services for verification and conformity of measurement systems mounted on tankers and trailers of vehicles transporting liquid air gases, LNG and other liquefied gases. Includes periodic metrological checks.
4. Technical Training Services: Chart University provides technical training events combining classroom, practical and site learning for handling and operating cryogenic gases and equipment with maximum efficiency and safety.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

VRV Group designs, engineers, and manufactures cryogenic storage tanks, mobile transport units (tankers and trailers), vaporizers, and microbulk systems for the storage, distribution, and vaporization of liquefied industrial gases (LIN, LOX, LAR, LCO2, LN2O, LH2, LNG). The company also produces custom-engineered specialty heat transfer and pressure-containing equipment (reactors, columns, drums, heat exchangers, separators) for the refining, petrochemical, and fertilizer industries. Manufacturing is conducted in Italy and India, serving industrial gas companies, energy operators, petrochemical facilities, aerospace customers, and healthcare providers.

Product overview

VRV Group, a division of Chart Industries, offers a comprehensive portfolio of cryogenic industrial products and systems. The core offerings include the Eagle cryogenic tank series (vacuum insulated standard tanks from 3,000 to 80,000 litres) and Engineered-to-Order custom tanks (up to 1,000,000 litres), complemented by mobile transport solutions (Ulysses Semi-Trailers and Rigid Tankers), MicroBulk CRYOCYL systems, and Vaporizers. The Zenith vertical tank series represents a re-engineered line for European markets. Supporting infrastructure includes ISO Containers, Vacuum Insulated Pipe, and LNG Fueling Stations with the DynaLNG dispenser. The Energy & Chemicals group provides specialty heat transfer equipment including reactors, separators, and shell-and-tube heat exchangers for petrochemical and refining applications. Products span liquid gas storage (nitrogen, oxygen, argon, CO2, nitrous oxide, hydrogen, LNG), distribution, vaporization, and fueling, with engineering and manufacturing facilities in Italy and India.

Differentiator

Problem solved

Functional benefit

Brands

• Eagle: VRV's range of vacuum insulated Standard Cryogenic Tanks designed to provide the lowest life-cycle costs. Available in both vertical and horizontal orientation with capacities from 3,000 to 80,000 litres and pressures of 18 to 37 bar.
• Ulysses Semi-Trailer
• CRYOCYL
• Zenith
• DynaLNG

Products and services

• Eagle Cryogenic Tanks Vacuum insulated standard cryogenic tanks available in vertical and horizontal orientation with capacities from 3,000 to 80,000 litres and pressures from 18 to 37 bar, designed for low lifecycle cost storage of liquefied gases (LIN, LOX, LAR, LCO2, LN2O, LH2, LNG) for industrial gas companies and energy operators.
• Engineered-to-Order Cryogenic Tanks Custom engineered cryogenic tanks with capacities from 80,000 to 1,000,000 liters for specialized large-scale industrial applications, including aerospace and global industrial gas customers.
• Ulysses Semi-Trailer Cryogenic transport trailer available in 4 versions (stainless steel, aluminum, bi-metallic aluminum/stainless steel, carbon steel/stainless steel) with capacities from 2,000 to 67,000 litres, compliant with EN 13530/TPED, ASME, GOST, ADR, and US-DOT standards for intermodal road transport of liquefied gases.
• Rigid Tankers Cryogenic transport tankers with stainless steel inner vessel and choice of carbon or stainless steel outer vessel, capacities from 6,000 to 20,000 litres, compliant with TPED and ADR standards.
• Vaporizers Vaporization systems for LIN, LOX, LAR, LCO2, LN2O and LNG with flow rates from 30 to 2,500 Nm3 per hour and pressure range from 40 to 400 bar, designed to PED 97/23/EC or ASME codes.
• MicroBulk CRYOCYL Systems High pressure cryogenic tanks for LIN, LOX, LAR, LCO2, LN2O and LNG with capacities from 230 to 10,000 litres, pressure range from 16 to 37 bar, featuring stainless steel vessels with multi-layer and high vacuum super-insulation.
• ISO Containers Intermodal containers and transportable tanks for bulk liquids worldwide, enabling safe and efficient distribution of liquid gases by road, rail, and sea.
• Zenith Storage System Re-engineered vertical cryogenic tank series for the European market with lowest lifecycle costs, improved performance, and wider operating range for liquid gases, with greater standardization built at both Decin and Ornago facilities.
• DynaLNG Dispenser Dual nozzle dispenser for safe, fast, and reliable fueling of LNG and bio-LNG vehicles, engineered and built by Chart in India.
• LNG Fueling Stations Fueling stations for LNG and hydrogen vehicle fleets, ranging from small privately owned operations to public stations.
• Vacuum Insulated Pipe Vacuum insulated pipe delivering thermal efficiency more than 10 times better than traditional foam insulated pipe for cryogenic liquid transport.
• Specialty Heat Transfer and Process Equipment Custom engineered specialty heat transfer and pressure containing products including reactors, drums, separators, columns, and shell and tube heat exchangers serving the refining, petrochemical, and fertilizer industries, featuring high pressures, high temperatures, and exotic metallurgy.
• Cryogenic Aftersales Service Comprehensive after-sales service including servicing, repairs, refurbishments, spare parts, and leasing through Chart's European network of Cryogenic Aftersales Service centers for cryogenic equipment customers.
• Cryotek Services Specialized cryogenic services and support offering within Chart's aftermarket portfolio.
• Chart Parts Spare parts distribution and support for cryogenic equipment.
• Chart University Technical Training Technical training events combining classroom, practical, and site learning for handling and operating cryogenic gases and equipment with maximum efficiency and safety.
• Type C Inspection Body Services Periodic verification and conformity assessment services for measurement systems mounted on tankers and trailers of vehicles transporting liquid air gases, LNG, and other liquefied gases, operated through Chart VRV in Italy per ISO/IEC 17020 standards.

Named customers2 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature8 records

Partnerships

Five partnerships are on record, tiered major_contract, major_acquisition, strategic and standard.

• Bechtel Energymajor_contractStrategic or Co-development Partner · 6 October 2025Chart selected by Bechtel Energy for supply of air-cooled and brazed aluminum heat exchangers for a US LNG project. This represents a significant project award for Chart's equipment.
• Baker Hughesmajor_acquisitionStrategic or Co-development Partner · 29 July 2025Chart Industries (parent company of VRV) announced acquisition by Baker Hughes (NASDAQ: BKR). This is a major strategic transaction that would bring VRV's cryogenic and specialty equipment capabilities under Baker Hughes' energy technology portfolio.
• LNG Alliance Pte LtdstrategicStrategic or Co-development Partner · 11 July 2025LNG Alliance Pte Ltd selected Chart technology and modular solution for LNG export terminal infrastructure. Chart provides LNG equipment and modular solutions for the project.
• PFAS Guard, LLCstandardChannel Partner/ Reseller/ Distributor · 3 July 2025ChartWater (a Chart Industries brand) appointed as exclusive distributor for PFAS Guard, LLC water treatment technologies.
• RatermannstrategicChannel Partner/ Reseller/ Distributor · 16 January 2025Chart Industries signed a strategic North American distribution partnership with Ratermann for distribution of Chart products in North America.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Fives Group (Pillard brand): Fives' cryogenics and gas processing division (including former Pillard) supplies cryogenic heat exchangers, cold boxes, and process equipment for air separation, LNG, and petrochemical applications. Comparable in custom engineered equipment and serves overlapping customers.
• INOX India: Indian cryogenic equipment manufacturer producing vacuum insulated storage tanks, ISO containers, vaporizers, and LNG/hydrogen fueling equipment. Most direct head-to-head competitor to VRV, particularly for the India-built product line serving global industrial gas majors.
• Cryostar (Air Liquide subsidiary): Cryogenic pumps, turboexpanders, and vaporization systems for industrial gas and LNG. Direct competitor to VRV in cryogenic fluid handling equipment, with strong installed base across European industrial gas customers.
• Nikkiso Cryogenic Industries: Nikkiso's cryogenic division produces cryogenic pumps, vaporizers, and LNG regasification equipment. Direct competitor in cryogenic fluid handling and gas processing with global manufacturing footprint.
• Hangzhou Hangyang: Chinese manufacturer of large air separation units, cryogenic storage tanks, and LNG equipment. Direct competitor on large-scale cryogenic tanks for industrial gas and LNG applications, particularly on Asia-Pacific and cost-sensitive projects.
• Taylor-Wharton International: Manufacturer of cryogenic storage tanks, dewars, and bulk gas supply equipment. Direct competitor in standard cryogenic bulk tanks and microbulk solutions, particularly in North America and Europe.
• Wessington Cryogenics: UK-based cryogenic tank and vessel manufacturer producing vacuum insulated tanks and bespoke cryogenic pressure vessels. Comparable niche player in custom engineered-to-order cryogenic equipment for European industrial gas and research customers.

Broad incumbents

• Chart Industries: Parent company of VRV and itself a global leader in cryogenic equipment, heat transfer, and hydrogen/lng solutions. As the parent, it both owns and competes with VRV; comparable across virtually all cryogenic storage, transport, and heat transfer product lines.
• Linde Engineering: Engineering division of Linde plc, supplying air separation plants, hydrogen and LNG plants, and proprietary heat exchangers (e.g., COLD, MCR). Competes with VRV in custom process and heat transfer equipment for the same large industrial gas customers.
• Air Products (Process Gas Equipment): Industrial gas major with captive engineering that designs and supplies cryogenic process equipment, heat exchangers, and LNG liquefaction technology. Overlaps with VRV as both a major customer and a competing equipment supplier in hydrogen and LNG.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/vrvgroup
• YouTubeyoutube.com/user/ChartIndustries
• Facebookfacebook.com/ChartInd
• LinkedInlinkedin.com/company/27725?trk=tyah
• Instagraminstagram.com/chart_industries

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about VRV Group