Small-scale LNG is a key aspect of the global LNG infrastructure buildout, as these smaller liquefaction plants serve specific uses such as marine bunkering, fuel for over the road transport, gas-LDC peak storage and power generation.
Chart Industries, Inc. has announced a strategic investment in Stabilis Energy, Inc. of up to $7 million for up to 9 percent of common equity.
Stabilis and Chart together built a 100,000 LNG gallon per day liquefier in Texas, with the intended purpose to service multiple end markets, including energy, industrial, mining, and Mexican exports. Chart supplied the liquefaction train, storage, gas pre-treatment, and truck loading facilities, which contributed to the record production levels of the plant.
“We are pleased to announce this strategic investment in Stabilis Energy,” said Jill Evanko, Chief Executive Officer of Chart. “We look forward to providing equipment and process to Stabilis and other customers as they expand in the small-scale and utility-scale LNG market. We expect over $650 million of opportunity in this market for our products in the next three years.”
“Stabilis welcomes Chart Industries as a shareholder,” commented James Reddinger, President and Chief Executive Officer of Stabilis. “As a global market leader in LNG production equipment and process systems, we appreciate Chart’s confidence in us. This transaction better positions Stabilis to pursue our North American small-scale LNG growth strategy, which is currently focused on plant development opportunities in the United States and Mexico.”
James continued: “Chart’s investment will increase our publicly traded float and total shares outstanding, thereby helping Stabilis meet its NASDAQ listing requirements. Furthermore, the investment will reduce our financial leverage and give us a stronger balance sheet to support our growth plans.”
For more information visit www.chartindustries.com
