Given Chart's cryogenic focus, implying LNG, and the fact that "GTLS" probably stood for Gas to Liquids at the IPO, one would guess little interest in gas phase NG storage. However, Chart is making huge margins on their cryogenic LNG tanks for heavy trucks, and may well want to cover the high-pressure CNG tank side of the business as well. I could definitely see it happening. QTWW's tank business is a jewel.
I think that you've brought up a very good point about GTLS (Chart).. I never considered the possibility of a buy out by them, but it could make a lot of lot term sense. It would position them in not only the CNG market, but also the Hydrogen marketplace (with QTWW's 10K psi tanks). I have not forgotten that aspect of QTWW's tech.. High pressure, High Strength/Safety, and High capacity tanks..
And one day we'll be looking at CNG in the rear view mirror, and looking at Hydrogen powered vehicles.
Let's look at this way.. Sure.. QTWW has some debt liabilities due to Zephyr. But I seem to recall that all of these non-core assets have been effectively written off. That means there's a potential Tax Loss carry forward value to QTWW.
I think we're going to see Zephyr sold off this fall.. It's just going to be a matter of the price.
The naysayers were trying to convince us that QTWW's backlog was lagging. I think the most recent news decisively put that issue to rest. DECISIVELY!! And I expect more such orders in coming months.
I expected that we'd see more activity in the CNG tank market by this fall, based upon the comments from WPRT and others related to CNG engine manufacturing for big trucks. Tanks are a long-lead item in this market. We're going to be able to gauge the market interest for CNG trucks by measuring the number of CNG/LNG tank sales in coming months and years. So that makes QTWW, in part, a leading indicator for the overall CNG vehicle market.
So does an acquisition of QTWW make some sense? Sure.. but I was betting on WPRT, or maybe 3M. But the more prospective bidders, the better. Nothing better than a acquisition bidding war for we shareholders.
The debt burden will be an issue for and aquisition, but given developing IP, I don't rule it out.
Still, I don't think it would be Chart to take them out, as they work the other end of the sector. My expectation is still on one of the others in the tank biz. Luxfer, 3M, etc, seeking to add Type 4 tanks and/or gain access to key clients. Or in the NGV sector, Westport or back to the arms of $FSYS.