Chart investment in Stabilis Energy

Chart Industries announced yesterday a strategic investment in Stabilis Energy, Inc. of up to $7 million for up to 9% of common equity. The transaction is scheduled to close within the next thirty days subject to both parties meeting certain closing conditions. The actual investment and ownership will be determined by an agreed upon formula at closing.

Stabilis Energy is a provider of small-scale LNG production, distribution and fueling services in North America. Stabilis has delivered over 200 million gallons of LNG through more than 20,000 truck deliveries during its 15-year operating history. Stabilis and Chart together built a 100,000 LNG gallon per day liquefier in Texas, with the intended purpose to service multiple end markets, including energy, industrial, mining, and Mexican exports. Chart supplied the liquefaction train, storage, gas pre-treatment, and truck loading facilities.

“We are pleased to announce this strategic investment in Stabilis Energy,” said Jill Evanko, Chief Executive Officer of Chart. “We look forward to providing equipment and process to Stabilis and other customers as they expand in the small-scale and utility-scale LNG market. We expect over $650 million of opportunity in this market for our products in the next three years.”