Chart Industries (GTLS) Bank of America Global Industrials Conference 2025 summary

Business evolution and market positioning

• Diversified from cryogenics to a broad portfolio including LNG, hydrogen, helium, water treatment, and carbon capture technologies.

• About a third of revenue now comes from aftermarket service and repair, expected to grow at high single digits to 10%.

• Molecule-agnostic approach enables flexibility to serve various end markets, including data centers and energy transition sectors.

• Flexible manufacturing with 64 global sites and 50 service centers supports agility and regional supply chain resilience.

• Continuous improvement initiatives focus on throughput, margin expansion, and consistent free cash flow generation.

LNG, process technology, and end market trends

• Booked $80 million in air cooler orders for data centers in 2024, with a $500 million addressable opportunity over three years.

• IPSMR process technology is gaining traction, used in major projects like Cheniere Corpus Christi and New Fortress Energy, delivering above-nameplate capacity.

• Recent wins include Woodside Louisiana LNG Phase Two and a master agreement with ExxonMobil.

• LNG portfolio is less reliant on large projects, with more frequent mid-sized orders and growing global opportunities, especially in Southeast Asia and Africa.

• Aftermarket services, including new fan designs and LTSAs, are expanding, supporting installed base and infrastructure.

Hydrogen, carbon capture, and specialty markets

• Record hydrogen activity in Europe, with commercialization accelerating; U.S. projects advance mainly with private funding.

• Two cryogenic carbon capture technologies serve both small-scale (Earthly Labs) and large-scale (CCC/SES) applications, with growing traction in cement, lime, and biogas.

• Partnerships in carbon capture, such as with Bloom Energy and GCC, are expanding.

• Space exploration is a growing market, with strong momentum in cryogenic tanks and heat exchangers for private launches and satellite deployment.

• Data center market targeted with air-cooled heat exchangers, leveraging existing product portfolio and new commercial hires.