Can a $13.6B Merger Supercharge the Hydrogen Race?

Baker Hughes’ $13.6B purchase of Chart Industries boosts its role in hydrogen and clean energy systems

15 Oct 2025

Baker Hughes announced a $13.6 billion all-cash acquisition of Chart Industries on July 29, marking one of its largest strategic moves into the clean energy sector. The deal combines Baker Hughes’ energy infrastructure portfolio with Chart’s expertise in cryogenics and gas-handling systems, positioning the merged company to deliver more integrated solutions across hydrogen, liquefied natural gas, and other decarbonization technologies.

Hydrogen remains a central focus of the merger. Analysts said scaling the hydrogen economy will depend on technologies that connect production, storage, and distribution, areas where Chart has established technical strength. By uniting those capabilities with Baker Hughes’ industrial footprint, the company aims to create a more cohesive system for developing and operating hydrogen infrastructure. In a company statement, Baker Hughes’ leadership described the acquisition as a foundation for "low-carbon technologies to scale at industrial pace."

The transaction comes amid a period of transition for the U.S. clean energy market. Federal hydrogen programs and incentives are still evolving, and some policy analysts have cautioned that delays or funding adjustments could affect project timelines. To offset such uncertainties, energy companies are pursuing vertical integration strategies designed to reduce dependence on external suppliers and regulatory cycles.

The merger also reflects a broader trend toward consolidation in the energy technology sector. As demand grows for turnkey, interoperable systems, larger firms are expanding into equipment, infrastructure, and services to meet the needs of industrial and commercial clients. For developers and project operators, this integration could simplify procurement and accelerate deployment, though success will depend on how effectively the two companies align their operations and culture.

While execution risks remain, the strategic intent is evident. The Baker Hughes and Chart Industries merger signals a deliberate push to build comprehensive infrastructure for multiple decarbonization pathways. If the integration proceeds as planned, it could shape the competitive landscape of the clean energy industry in the years ahead.