Irving-based Flowserve Corporation (NYSE: FLS) has entered an agreement with Georgia-based energy company Chart Industries, Inc. (NYSE: GTLS) to support the growth of hydrogen as an alternative fuel source, according to a news release.
As part of the partnership, Flowserve will acquire in-process research and development for Chart’s liquid hydrogen fueling pump and will be the sole manufacturer and supplier once commercial production begins.
“We understand that hydrogen represents a significant opportunity in helping the world reduce carbon emissions, and one of the first steps in creating a sustainable hydrogen value chain is to innovate and commercialize hydrogen technologies,” Scott Rowe, president and CEO of Flowserve, said in the release.
Chart will also use its liquid hydrogen pumps to fuel cell vehicles including trucks, cars and buses.
“Chart is proud to be recognized as a leader in the clean energy transition by providing technology, equipment and services related to the Nexus of Clean — including clean power, clean water, clean food and clean industrials,” Jillian Evanko, CEO of Chart Industrie, said in the release. “By partnering with a global flow control leader like Flowserve, we can accelerate the adoption of hydrogen infrastructure utilizing both teams’ core expertise.”
According to the release, more than 100 liquid hydrogen fueling systems are planned to be put into operation over the next five years in California, Australia, and South Korea.
Flowserve Corp. was founded in 1997. The company produces and engineers industrial pumps and flow management services.
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