Benzinga | Oct 7, 2021 03:09PM EDT

Chart Industries Secures US DOE Funding For SES Cryogenic Carbon Capture Technology

* Chart Industries, Inc. (NYSE:GTLS) has been notified of its U.S. Department of Energy funding award for Sustainable Energy Solutions (SES) Cryogenic Carbon Capture (CCC) technology. The DOE funding for this project is ~$5 million.

* With the funding, the company's team intends to design, build, commission, and operate an engineering-scale CCC process at Central Plains Cement Company LLC's cement plant in Sugar Creek, Missouri. Central Plains Cement is a wholly-owned subsidiary of Eagle Materials Inc. (NYSE:EXP).

* Also Read: Chart Industries, FLSmidth Collaborate On Carbon Capture Technology

* Price Action: GTLS shares are trading higher by 3.26% at $195.79.