CLEVELAND, June 24, 2013 (GLOBE NEWSWIRE) -- Chart Industries, Inc. (Nasdaq:GTLS), today announced the release of a device that can be added or retrofitted to Chart LNG vehicle fuel systems which ensures compatibility with fuel stations optimized for various engine technologies, including Spark Ignition ("SI") and Compression Ignition diesel engines with both Indirect ("CI-IDI") and Direct ("CI-DI") Injection. Previously, LNG fuel stations were required to deliver LNG at two different pressures and saturation temperatures to support SI and CI-IDI, as well as CI-DI, engines, driving fuel station infrastructure complexity and cost. Most engines require comparatively low pressure and utilize a Chart developed system that delivers fuel from the station to the vehicle typically above 100 psi and a related saturation temperature of -200 o F. This enables a simplified vehicle fuel system, which does not require additional complexity, such as an on-board vehicle pump to deliver fuel to the engine. Diesel engines with CI-DI use fuel systems with on-board pumps that operate better with colder fuel. Offloading and dispensing unsaturated colder fuel through a fuel station delivers LNG to the vehicle at typically less than 60 psi and a related fuel saturation temperature of -215 o F. Chart provides fuel station designs which effectively deliver both fuel saturation conditions. Chart's new on-board vehicle "Cold-Fuel Pressure Builder" ("CPB") is designed to accept cold fuel (saturated at less than 60 psi) and consistently support most engine pressure requirements. The CPB, together with existing Chart LNG vehicle fuel systems, will work safely and reliably and with minimized chance of venting during both vehicle operation and refuelling. This feature enables simplified fuel station design and reliable SI engine operation independent of LNG fuel station capability. A CPB equipped Chart LNG vehicle fuel system will operate just as it does now when it receives saturated LNG (typically above 100 psi) from a fuel station. If it receives lower pressure (and saturation temperature) cold fuel from the fuel station, the CPB automatically raises the pressure (and temperature) of the vehicle fuel tank to reliably meet the engine's pressure requirements.
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.
Chart is a leading independent global manufacturer of highly engineered equipment used in the production, storage and end-use of hydrocarbon and industrial gases. The majority of Chart's products are used throughout the liquid gas supply chain for purification, liquefaction, distribution, storage and end-use applications, the largest portion of which are energy-related. Chart has domestic operations located across the United States and an international presence in Asia, Australia and Europe.For more information, click here: http://ir.chartindustries.com/
CONTACT: Michael F. Biehl Executive Vice President, Chief Financial Officer and Treasurer 216-626-1216 email@example.com or Kenneth J. Webster Vice President, Chief Accounting Officer and Controller 216-626-1216 firstname.lastname@example.org