Fort Capital acts as Financial Advisor to HTEC

Transaction Details

Fort Capital Partners is pleased to announce its role as financial advisor to HTEC.

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HTEC Hydrogen Technology & Energy Corporation (“HTEC” or the “Company”) has announced the completion of a $20 million financing (the “Investment”) with Chart Industries, Inc. (Nasdaq:GTLS) (“Chart”), a leading global manufacturer of liquefaction and cryogenic equipment for the energy and industrial gas markets. In addition to the Investment, Chart and HTEC have entered into a binding commercial Memorandum of Understanding (MOU). The MOU establishes how the companies will collaborate to develop, improve, and expand both HTEC and Chart’s initiatives in the emerging hydrogen energy market.

The Investment will support HTEC’s capacity to meet growing market demand for hydrogen production, distribution, and fueling-station solutions. It also opens up opportunities for HTEC to expand its technology and infrastructure offerings into new markets and jurisdictions.

“This investment in and commercial agreement with HTEC is yet another step in expanding our high-growth products and businesses within Chart, specifically clean energy and specialty products and markets,” stated Jill Evanko, Chart’s CEO and President.  “We are excited to have a more significant presence in Canada, a country with a federal government as well as provincial governments committing substantial funding to boosting the hydrogen fuel sector including a National Hydrogen Strategy to be released before year-end.”

“Strategic collaborations, like the one we’re thrilled to be announcing today with Chart, have been a critical part of our company’s evolution,” says Colin Armstrong, HTEC’s President and CEO. “We are proud to work with Chart and are excited about the range of products they offer that will play a key role in the global push towards more sustainable energy systems.”

Fort Capital Partners acted as advisor to HTEC in the evaluation and execution of capital raising alternatives, including the Chart Investment, and Blake, Cassels & Graydon LLP served as legal counsel to the Company.

ABOUT HTEC

HTEC is unlocking the potential of hydrogen to reduce climate change and air pollution.  The company designs, builds and operates hydrogen fuel supply solutions to support the deployment of hydrogen fuel cell electric vehicles. Partnering with government, industrial gas companies, key equipment suppliers, automotive original equipment manufacturers (OEMs), Light and Heavy Duty vehicle fueling operators, hydrogen fuel cell manufacturers and conventional energy companies, HTEC is delivering safe, reliable, convenient, sustainable, and low-cost hydrogen to customers and consumers, how, when and where they need it.

ABOUT CHART INDUSTRIES

Chart Industries, Inc. is a leading independent global manufacturer of highly engineered equipment servicing multiple applications in the Energy and Industrial Gas markets.  Chart’s unique product portfolio is used in every phase of the liquid gas supply chain, including upfront engineering, service, and repair. Being at the forefront of the clean energy transition, Chart is a leading provider of technology, equipment and services related to liquefied natural gas, hydrogen, biogas, and CO2 Capture amongst other applications. Chart is committed to excellence in environmental, social, and corporate governance (ESG) issues both for the company and its customers.  With over 25 global locations from the United States to Asia, Australia, India, Europe and South America, Chart maintains accountability and transparency to its team members, suppliers, customers, and communities.