The CPB, combined with the Chart LNG vehicle fuel system, minimizes emissions and reduces the higher cost associated with alternative LNG fuel systems requiring cold fuel. In addition, the CPB maintains all the current features and benefits of Chart's existing LNG vehicle fuel system, such as extended hold time and elimination of venting or fugitive methane emissions during refuelling.
"Chart created the LNG system solution of optimized fuel stations and on-board fuel systems that has proven to be simple and reliable and minimizes the risk of methane emissions. The new CPB further facilitates reliable, low cost implementation benefiting fuel station owners, vehicle manufacturers and fleet operators," stated Tom Carey, Chart D&S Group President. "Chart's key customers, both fuel station operators and truck manufacturers, believe this is the right solution to address immediate challenges."
Certain statements made in this news release are or imply forward-looking statements, such as statements concerning business plans, objectives, market trends, future revenue, performance, and other information that is not historical in nature. These statements are made based on Chart's expectations concerning future events and are subject to factors and uncertainties that could cause actual results to differ materially, such as cyclicality of product markets and vulnerability of markets to economic downturns, a delay or reduction in customer purchases, competition, fluctuations in energy prices or changes in government energy policy, reliance on availability of key supplies and services, Chart's ability to protect its intellectual property and successfully continue technical innovation, and economic, political, business and market risks associated with international operations. For a discussion of these and additional factors that could cause actual results to differ from forward-looking statements, see Chart's filings with the Securities and Exchange Commission, including Item 1A (Risk Factors) in Chart's most recent Annual Report on Form 10-K. Chart undertakes no obligation to update or revise any forward-looking statement.