Praxair Acquires Acoustic Technology Assets Of Chart Industries
DANBURY, Conn., April 19, 2001 -- Praxair, Inc. (NYSE: PX) has acquired the assets and licenses of Chart Industries, Inc. (NYSE: CTI) related to acoustic heat engines and acoustic refrigerators. Assets acquired by Praxair include pilot plants, commercial demonstration equipment, exclusive patent rights, licenses and development programs. Two Chart employees have joined Praxair. Terms of the transaction were not disclosed.
Acoustic heat engines convert thermal energy into sound waves. Acoustic refrigerators, also known as pulse tube coolers, use sound waves to produce refrigeration. Pulse tube coolers are particularly effective for low-temperature applications since they have no moving parts in the low-temperature region. The combination of an acoustic heat engine and pulse tube cooler has the potential to substantially reduce low-temperature refrigeration costs and further improve reliability. Applications include industrial gas production and liquefaction, natural gas processing and superconductor cooling.
Refrigeration and energy conversion are core technologies for Praxair, used in the production of atmospheric gases and in customer processes. This acquisition strengthens Praxair’s existing refrigeration-development program. Its commercialization will improve productivity and lower costs in Praxair’s industrial gases business while enabling new business opportunities in the future.
The U.S. Department of Energy's National Energy Technology Laboratory Office of Fuels and Energy Efficiency has co-funded both thermo-acoustic technology development led by the Los Alamos National Laboratory as well as the prototype demonstration and validation previously conducted by Chart Industries. DOE's Office of Science funds fundamental thermo-acoustic research and development at Los Alamos. Praxair will continue to work with these agencies to commercialize thermo-acoustic technology.
Praxair also has signed an agreement with CFIC, Inc. to manufacture electro-acoustic drives, cryocoolers and compressors under license, for use and sale by both Praxair and CFIC. Electro-acoustic drives can be used as an alternative to thermo-acoustic engines for generation of sound waves in pulse tubes. CFIC is a closely-held corporation based in Troy, New York. The company is dedicated to commercialization of resonant power conversion using its proprietary drives and thermo-acoustic technology in cryogenics, microgeneration, refrigeration and gas compression. More information is available at www.cficinc.com.
Chart Industries, Inc., with 2000 sales of $325.7 million, manufactures standard and custom-built industrial process equipment primarily for low-temperature and cryogenic applications. Headquartered in Cleveland, Ohio, Chart Industries has domestic operations in 14 states and international operations in Australia, China, Czech Republic, England, Germany and Singapore. More information is available on the Internet at www.chart-ind.com.
Praxair is the largest industrial gases company in North and South America, and one of the largest worldwide, with 2000 sales of $5 billion. The company produces, sells and distributes atmospheric and process gases, and high-performance surface coatings. Praxair products, services and technology bring productivity and environmental benefits to a wide variety of industries, including aerospace, food and beverage, healthcare, semiconductor materials, steel, chemicals and refining, metal fabrication, water treatment, glass and others. More information can be found on the Internet at www.praxair.com.
Acoustic heat engines convert thermal energy into sound waves. Acoustic refrigerators, also known as pulse tube coolers, use sound waves to produce refrigeration. Pulse tube coolers are particularly effective for low-temperature applications since they have no moving parts in the low-temperature region. The combination of an acoustic heat engine and pulse tube cooler has the potential to substantially reduce low-temperature refrigeration costs and further improve reliability. Applications include industrial gas production and liquefaction, natural gas processing and superconductor cooling.
Refrigeration and energy conversion are core technologies for Praxair, used in the production of atmospheric gases and in customer processes. This acquisition strengthens Praxair’s existing refrigeration-development program. Its commercialization will improve productivity and lower costs in Praxair’s industrial gases business while enabling new business opportunities in the future.
The U.S. Department of Energy's National Energy Technology Laboratory Office of Fuels and Energy Efficiency has co-funded both thermo-acoustic technology development led by the Los Alamos National Laboratory as well as the prototype demonstration and validation previously conducted by Chart Industries. DOE's Office of Science funds fundamental thermo-acoustic research and development at Los Alamos. Praxair will continue to work with these agencies to commercialize thermo-acoustic technology.
Praxair also has signed an agreement with CFIC, Inc. to manufacture electro-acoustic drives, cryocoolers and compressors under license, for use and sale by both Praxair and CFIC. Electro-acoustic drives can be used as an alternative to thermo-acoustic engines for generation of sound waves in pulse tubes. CFIC is a closely-held corporation based in Troy, New York. The company is dedicated to commercialization of resonant power conversion using its proprietary drives and thermo-acoustic technology in cryogenics, microgeneration, refrigeration and gas compression. More information is available at www.cficinc.com.
Chart Industries, Inc., with 2000 sales of $325.7 million, manufactures standard and custom-built industrial process equipment primarily for low-temperature and cryogenic applications. Headquartered in Cleveland, Ohio, Chart Industries has domestic operations in 14 states and international operations in Australia, China, Czech Republic, England, Germany and Singapore. More information is available on the Internet at www.chart-ind.com.
Praxair is the largest industrial gases company in North and South America, and one of the largest worldwide, with 2000 sales of $5 billion. The company produces, sells and distributes atmospheric and process gases, and high-performance surface coatings. Praxair products, services and technology bring productivity and environmental benefits to a wide variety of industries, including aerospace, food and beverage, healthcare, semiconductor materials, steel, chemicals and refining, metal fabrication, water treatment, glass and others. More information can be found on the Internet at www.praxair.com.
