Chart Industries, Inc. and Crane Company Successfully Test a New Liquid Hydrogen Valve
10 Mai 2023 - 1:00PM
Chart Industries, Inc. (“Chart”, NYSE: GTLS) and Crane Company
(“Crane”, NYSE:CR) have successfully tested a new cryogenic valve
designed and built by Crane for liquid hydrogen applications. This
is the first valve launched from Crane’s CRYOFLO™ line of
bellow seal vacuum jacketed globe valves, designed and tested by
Crane, with final validation, review, and testing conducted by
Chart. Final testing was conducted at Chart’s one-of-a-kind liquid
hydrogen test facility in New Prague, MN, USA, leveraging Chart’s
60 years of experience with hydrogen equipment and the facility’s
availability of the extremely cold cryogenic liquid for testing.
Liquid hydrogen is over 100 degrees Fahrenheit colder than liquid
nitrogen, and significantly colder than the temperature limit of
most cryogenic valves.
The testing confirms that Crane’s CRYOFLO liquid
hydrogen valve design can operate safely and reliably at extremely
low temperatures, while supporting best-in-class high-flow rates at
low-pressure drop as designed. Notably, CRYOFLO is the first valve
Chart has successfully completed a liquid hydrogen endurance test
in a high-cycle application. Testing included installing Crane’s
valve in a validation system provided by Chart that flowed liquid
hydrogen through the valve at varying operating temperatures and
pressures. The valve successfully endured well over 5,000
open/close cycles at a pressure of 150 psig/10 bar, and it required
no adjustments or maintenance during the test. In addition, the
Crane CRYOFLO has completed cryogenic certification and endurance
testing per MSS-SP-134 standards and qualified the size range from
½-2” at 300 psi working pressure.
Chart is quickly developing new hydrogen
equipment solutions and expanding production capacity for existing
products to meet the needs of the growing hydrogen energy market.
Cryogenic valves are an integral part of every one of these
products, whether in Chart’s hydrogen liquefaction equipment and
cold boxes, transport trailers, storage tanks, fuel cell vehicle
fuel stations, onboard fuel tanks, or any other end-use system.
Valves must be resistant to leaks, reliable to operate, and
minimize impact on process performance.
Crane is successfully accelerating the
development a full line of cryogenic valves and accessories to
address critical market problems including leakage, heat
dissipation, and reliability in the liquefaction, storage and
transportation of hydrogen and other cryogenic gases. Crane is also
investing in a new state-of-the-art facility in Conroe, TX where it
plans to build all of its Cryogenic and Hydrogen products while
providing best-in-class customer service, quality and delivery. The
qualification of the CRYOFLO bellow seal globe valves by Chart
completes the technical approval of the product which is now in
production and available to serve the hydrogen market globally.
About Chart Industries,
Inc.Chart Industries, Inc. is an independent global leader
in the design, engineering, and manufacturing of process
technologies and equipment for gas and liquid molecule handing for
the Nexus of Clean™ - clean power, clean water, clean food, and
clean industrials, regardless of molecule. The company’s unique
product and solution portfolio across stationary and rotating
equipment is used in every phase of the liquid gas supply chain,
including engineering, service and repair and from installation to
preventive maintenance and digital monitoring. 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 its company
as well as its customers. With over 48 global manufacturing
locations and 41 service centers from the United States to Asia,
Australia, India, Europe and South America, the company maintains
accountability and transparency to its team members, suppliers,
customers, and communities. To learn more, visit
www.chartindustries.com
About Crane CompanyCrane
Company has delivered innovation and technology-led solutions for
customers since its founding in 1855. Today, Crane is a leading
manufacturer of highly engineered components for challenging,
mission-critical applications focused on the aerospace, defense,
space and process industry end markets. The Company is comprised of
two strategic growth platforms, Aerospace & Electronics and
Process Flow Technologies, as well as the Engineered Materials
segment. Crane has approximately 7,000 employees in the Americas,
Europe, the Middle East, Asia and Australia. For more information,
visit www.craneco.com.
FORWARD LOOKING
STATEMENTSCertain statements made in this press release
are forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements include statements concerning Chart and Crane’s business
plans, including statements regarding objectives, future orders,
business trends, fuel cell technology growth opportunities and the
related commercialization opportunities using liquid hydrogen fuel
systems, 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," “target,” or the negative of such terms or comparable
terminology.
Forward-looking statements contained in this
press release or in other statements made by Chart and Crane are
made based on management's expectations and beliefs concerning
future events impacting the collaborative business venture of the
two companies and are subject to uncertainties and factors relating
to the their respective operations and business environment, all of
which are difficult to predict and many of which are beyond either
company’s control, that could cause the actual results to differ
materially from those matters expressed or implied by
forward-looking statements. Factors that could cause the Chart and
Crane’s actual results to differ materially from those described in
the forward-looking statements include: the ability of both parties
to successfully implement and commercialize the heavy-duty hydrogen
fuel system joint development; and market acceptance of this fuel
system and other clean energy product offerings; continued
volatility in raw materials and supply; and risks relating to the
outbreak and continued uncertainty associated with the coronavirus
(COVID-19) and the related disruptions to Chart and Crane’s
operations. The parties undertake no obligation to update or revise
any forward-looking statement
Investor Relations Contact – Chart
Industries:
John WalshVice President, Investor
Relations470-367-04343john.walsh@chartindustries.com
Investor Relations Contact – Crane Company
Jason D. FeldmanVice President, Treasury & Investor
Relations203-363-7329investors@craneco.com
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