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.