Chart Industries and I Squared Capital’s Investment in HTEC

Kirkland & Ellis advised I Squared Capital, while Winston & Strawn advised Chart on the transaction.

I Squared Capital executed its investment into HTEC Hydrogen Technology & Energy Corporation (HTEC) alongside its partner Chart Industries, Inc. (Chart) (NYSE: GTLS). Together, Chart and I Squared Capital own 60 percent of HTEC.

HTEC designs, builds and operates hydrogen infrastructure to support the increasing hydrogen demand landscape, including hydrogen fuel cell electric vehicles. This investment by I Squared Capital and Chart provides HTEC with significant capital to fund new green hydrogen production projects and to expand its hydrogen fueling station portfolio serving both the light-duty and heavy-duty markets. 

Chart Industries, Inc. is a leading independent global manufacturer of highly engineered equipment servicing multiple applications in the Energy and Industrial Gas markets. 

I Squared Capital is an independent infrastructure investor with over $30 billion in assets under management and specializing in sourcing, managing, and building global infrastructure platforms in North America, Europe, Latin America and Asia. 

The Kirkland team was led by corporate partners John Pitts (Picture) and Kyle Watson and associate Maggie Hoffman; derivatives partner Scott Gordon; capital markets partner Julian Seiguer; debt finance partner Lucas Spivey; restructuring partner Brian Schartz and associate Zach Manning; and tax partner David Wheat.

Involved fees earner: Scott Gordon – Kirkland & Ellis; Maggie Hoffman – Kirkland & Ellis; Zachary Manning – Kirkland & Ellis; John Pitts – Kirkland & Ellis; Brian Schartz – Kirkland & Ellis; Julian Seiguer – Kirkland & Ellis; Lucas Spivey – Kirkland & Ellis; Kyle Watson – Kirkland & Ellis; David Wheat – Kirkland & Ellis;

Law Firms: Kirkland & Ellis;

Clients: I Squared Capital Advisors, LLC;

Author: Martina Bellini