UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) April 26, 2019
CHART INDUSTRIES, INC.
(Exact name of registrant as specified in its charter)
| Delaware | 001-11442 | 34-1712937 | ||
| (State of other jurisdiction of incorporation or organization) |
(Commission File Number) |
(I.R.S. Employer Identification No.) | ||
| 3055 Torrington Drive Ball Ground, Georgia |
30107 | |||
| (Address of principal executive offices) | (ZIP Code) | |||
Registrant’s telephone number, including area code: (770) 721-8800
NOT APPLICABLE
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 7.01 | Regulation FD Disclosure. |
On April 26, 2019, Chart Industries, Inc. (“Chart”) issued a press release announcing the release of its next generation IPSMR®+ process technology for LNG. A copy of Chart’s press release is furnished herewith as Exhibit 99.1 and is incorporated herein by reference.
All information in the press release is furnished and shall not be deemed “filed” with the Securities and Exchange Commission for purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise be subject to the liability of that Section, and shall not be deemed to be incorporated by reference into any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits.
| Exhibit |
Description | |
| 99.1 | Press release issued by Chart, dated April 26, 2019. | |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Chart Industries, Inc. | ||||||
| Date: April 26, 2019 | ||||||
| By: | /s/ Jillian C. Evanko | |||||
| Jillian C. Evanko | ||||||
| President and Chief Executive Officer | ||||||
Exhibit 99.1
Chart Industries Announces IPSMR®+ Process Technology for LNG
Houston, Texas – April 26, 2019 - Chart Industries, Inc. (NASDAQ: GTLS), a leading diversified global manufacturer of highly engineered equipment for the industrial gas and energy industries, announced the release of IPSMR®+ process technology, which builds upon our IPSMR® process. The additional features of IPSMR®+ will further lower power consumption, reduce plant emissions and lower plant cost per ton. Chart’s IPSMR®+ delivers industry leading project economics by producing more LNG while reducing plant capital cost.
In the new age of LNG modular midscale solutions, Chart’s IPSMR® process has been adopted by EPCs, Project Developers, and validated by both National and International Oil Companies. Specifically, IPSMR®, along with our industry proven brazed aluminum heat exchangers, Core-in-Kettle® heat exchangers and our Hudson air cooled heat exchangers, will be utilized on multiple mid-scale export terminal projects.
Today, we are announcing our next generation of liquefaction technology, IPSMR®+. The technology builds on our single mixed refrigerant design and adds a pre-cooling step. Chart’s IPSMR®+ process provides as much as 8% increased efficiency over IPSMR®. Chart’s less complicated method for pre-cooling IPSMR® requires approximately 25% less plot space than conventional pre-cooled liquefaction technologies, independent of which rotating equipment is utilized. In addition to broadening our mid-scale offering, with the additional efficiency, capacity and cost benefits, IPSMR®+ is an excellent choice for baseload LNG plants using multiple identical liquefaction trains.
“At our customers’ requests to continue developing innovative technology solutions using industry standard and proven equipment, Chart is pleased to be offering IPSMR®+ which is an enhancement of our successful IPSMR® process technology. IPSMR®+ has been evaluated by two international oil companies who have compared our own process and other technologies and determined it continues to be the most efficient,” said Jill Evanko, Chart Industries’ Chief Executive Officer. “We are proud of our equipment and processes which serve a broad set of applications and can be customized to what works best for the operator and our partners in each project.”
For more information, click here:
http://ir.chartindustries.com/
Contact:
| Jillian Evanko |
| Chief Executive Officer 630-418-9403 |
| jillian.evanko@chartindustries.com |
Certain statements made in this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning the Company’s business plans, products and technology. future orders and customer requirements, business trends, and other information that is not historical in nature. Forward-looking statements may be identified by terminology such as “may,” “will,” “should,” “could,” “expects,” “anticipates,” “believes,” “projects,” “forecasts,” “outlook,” “guidance,” “continue,” or the negative of such terms or comparable terminology.
Forward-looking statements contained in this presentation or in other statements made by the Company are made based on management’s expectations and beliefs concerning future events impacting the Company and are subject to uncertainties and factors relating to the Company’s operations and business environment, all of which are difficult to predict and many of which are beyond the Company’s control, that could cause the Company’s actual results to differ materially from those matters expressed or implied by forward-looking statements. Factors that could cause the Company’s actual results to differ materially from those described in the forward-looking statements include those found in Item 1A (Risk Factors) in the Company’s most recent Annual Report on Form 10-K filed with the SEC, which should be reviewed carefully. The Company undertakes no obligation to update or revise any forward-looking statement.