Germany’s Cryomotive GmbH, a green-tech start- up and Chart Industries Inc. (NYSE: GTLS), a leading global manufacturer of liquefaction and cryogenic equipment, have announced the completion of a strategic partnership. The partnership will enable Cryomotive to leverage its proprietary technology jointly with Chart’s established position in the refuelling and hydrogen station market.
Cryomotive’s CcH2 technology (CRYOGAS) aims to decarbonise long-haul commercial vehicles while keeping the range and fuelling times similar to diesel powered vehicles and reaching parity in costs of ownership before 2030.
Cryomotive’s CcH2 CRYOGAS technology offers a range of 1000 km with a refuelling time of 10 minutes for green hydrogen to long-haul heavy-duty commercial vehicles.
Chart is also acquiring a minority share of Cryomotive.
Dr. Tobias Brunner, Cryomotive’s Managing Director and CEO, says: “We are excited to welcome Chart as a first strategic partner for Cryomotive to join our technology platform and strengthen our partner network in Europe, USA and worldwide.”
Dr. Christiane Heyer, Cryomotive’s Managing Director and CFO, adds: “This investment by Chart embedded in a commercial and support agreement will enable us to speed up Cryomotive’s development of CRYOGAS technology and to join forces on preparing a
roll-out of CRYOGAS refueling stations. We are now intensifying our discussion with additional investors as the financing round continues.”
By 2025 Cryomotive is expecting to deliver the first commercially produced products ready for a fast and steadily growing worldwide market.
