Chart Industries Inc. has agreed to acquire Utah-based Sustainable Energy Solutions Inc. (SES) for $20 million in cash in a deal that would allow it to expand into carbon capture for liquefied natural gas (LNG) producers.


Atlanta-based Chart said this week it has signed a letter of intent to acquire SES, but added that the deal is expected to close in the next 30 days after a definitive agreement is reached. The deal also includes an associated earn-out for SES to net more if certain conditions are met. 

The deal comes as the fossil fuel industry is facing increasing scrutiny to limit its impacts on the climate. SES develops sustainability solutions for the energy industry and its Cryogenic Carbon Capture (CCC) technology would allow Chart to expand its market opportunities in...