The investment provides HTEC with significant capital to fund new green hydrogen production projects and to expand its hydrogen fuelling station portfolio serving both the light-duty and heavy-duty markets. HTEC currently has 17 hydrogen fuelling stations operating or in development in Canada and the United States today.
Chart is a global manufacturer of liquefaction and cryogenic equipment serving multiple applications in the energy and industrial gas end markets, including hydrogen.
ISQ is an independent global infrastructure investment manager focusing on clean energy, utilities, telecom and transport in the Americas, Europe, and Asia.
This investment expands Chart’s ownership of HTEC to 25 percent and provides ISQ a 35 percent holding. HTEC’s original shareholders and employees will retain a 40 percent ownership in the company.
“This is an exciting day for our company, HTEC’s great shareholders, and partners – new and old! Chart and ISQ’s investment will help to expand our capacity to deliver hydrogen supply solutions in support of the global clean energy transition,” says Colin Armstrong, HTEC’s President and CEO.
“This signals both Chart’s and ISQ’s growing confidence in HTEC’s people, products, and technology – and reinforces our conviction that hydrogen plays a critical role on the path to net zero.”