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NEWS RELEASE Chart Industries Acquires 5 % Ownership of Transform Materials and Signs Strategic Commercial Hydrogen MOU 2021-03-31 ATLANTA , March 31 , 2021 ( GLOBE NEWSWIRE ) -- Chart Industries Inc. ( " Chart " ) ( NSYE : GTLS ) , a leading global manufacturer of liquefaction and cryogenic equipment serving multiple applications in the clean energy and industrial gas end markets , including hydrogen , today announced the completion of an investment in Transform Materials ( " Transform " ) in the amount of $ 25 million for 5 % of its equity . Transform Materials is a sustainable chemical technology company that uses microwave plasma to convert natural gas into acetylene and hydrogen . Its highly selective , cost - effective , net - carbon - negative process converts the methane in natural gas into high - value products suitable for direct use or downstream reactions . " We transform methane into acetylene and hydrogen , critical precursors for the synthesis of high - value chemical end products , without using traditional techniques that form carbon dioxide . That means we can meet important future needs of the petrochemical industry without creating harmful greenhouse gases , " said David Soane Ph.D. , Chairman of Transform Materials . " An important benefit of our technology is that it repurposes the carbon that methane - a potent greenhouse gas - contains , so that it doesn't enter the atmosphere . We saw immediately how Chart's process chemicals and hydrogen technologies can help us deliver clean , high - purity hydrogen and acetylene to our customers at scale . " In conjunction with this strategic investment , Chart and Transform also executed a binding commercial Memorandum of Understanding ( " MOU " ) . The MOU establishes the commercial collaboration and equipment supply arrangements for Chart to supply Transform projects . Transform Materials ' process has already been adopted via a global licensing agreement with DSM Nutritional Products Ltd. ( " DSM " ) , who plans to utilize the patented Transform technology to produce certain vitamins , carotenoids , and nutritional ingredients . In addition to DSM , Transform has multiple other commercial pipeline opportunities this year in both North America and Europe . Given this level of interest , Transform expects to begin construction of two or three plants in the next 12 months . The investment and commercial supply agreement with Transform will help facilitate 1