Benzinga | Sep 9, 2021 04:38PM EDT

Chart Industries, FLSmidth Collaborate On Carbon Capture Technology

* FLSmidth (OTC:FLIDY) has signed an agreement with Chart Industries, Inc. (NYSE:GTLS) to implement advanced carbon capture technology to reduce CO2 emissions from cement production.

* This collaboration will adapt and commercialize Chart's Cryogenic Carbon Capture (CCC) for customers in the cement industry.

* CCC is a post-combustion technology developed by Sustainable Energy Solutions (SES), a Chart company.

* Working with Chart, FLSmidth will accelerate the commercialization of CCC and optimize the design of the technology for the cement industry.

* The aim is to reduce over 90% of carbon emissions from industrial sources at half the cost and energy of current carbon capture processes.

* Price Action: GTLS shares closed higher by 0.1% at $191.58 on Thursday.