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NEWS RELEASE Chart Industries Acquires Water Treatment Company , AdEdge 2021-08-30 ATLANTA , Aug. 30 , 2021 ( GLOBE NEWSWIRE ) Chart Industries , Inc. ( " Chart " ) ( NYSE : GTLS ) today announced the acquisition of AdEdge Holdings , LLC ( " AdEdge " ) , a water treatment technology and solution provider specializing in the design , development , fabrication and supply of water treatment solutions , specialty medias , legacy and innovative technologies that remove a wide range of contaminants from water . The equity purchase was completed for a purchase price of $ 40 million in cash at closing ( subject to customary adjustments ) and further details are included in the supplemental presentation at the end of this release . Chart recently announced the formation of ChartWater ™ , a division within Specialty Products that offers an elite portfolio of proven , innovative water treatment solutions . AdEdge will join BluelnGreen ( " BIG " ) , which Chart acquired in November 2020 , in Chart's full solution offering of water treatment and desalination technology options that couple with Chart's water treatment equipment . In addition to over 20 specific targeted contaminants , AdEdge provides solutions for the removal of perfluorinated alkylated substances ( PFAS ) , perfluorooctane sulfonic acid ( PFOS ) , and other persistent organic compounds which , historically , have been challenging to treat . These organic compounds , commonly referred to as " forever chemicals , " are known for their resistance to environmental degradation through chemical , biological , and photolytic processes , which can bioaccumulate with potential adverse impacts on human health and the environment . AdEdge brings complementary technology to BIG's processes , as well as congruency of our brands , culture , and the common focus on sustainably - driven innovation to provide essential solutions to the world's water challenges . " AdEdge is a perfect fit for ChartWaterTM , " said Chart's CEO and President Jill Evanko . " Its technologies , solutions , and expertise strengthen Chart's position in the growing water treatment space as we continue to invest in sustainable solutions for a wide variety of industries and applications . We intend to offer AdEdge's solutions for PFAS and PFOS removal , in a containerized package , using our Treatment - as - a - Service ( TaaS ) business model . " The growing water market represents a 2030 total addressable market ( TAM ) size of $ 5.0 billion for Chart technology and products , which doubled as the result of the AdEdge acquisition and the growing regulatory 1