WILMINGTON, Del., Sept. 22, 2016 /PRNewswire/ -- The Chemours
Company (Chemours) (NYSE: CC), a global chemistry company with
leading market positions in titanium technologies, fluoroproducts
and chemical solutions, announced today that it has increased the
expected greenhouse gas reduction provided by its Opteon™ portfolio
by over 8 percent. The company now expects that its low global
warming potential (GWP) product line will eliminate an estimated
325 million tons CO2 equivalent by 2025 on a global
basis.
This new announcement comes in support of today's call from
global leaders of over 100 countries to amend the Montreal Protocol
in order to accelerate the phasedown of hydrofluorocarbons (HFCs).
The proposed amendment would include an early first reduction step
for Article 2 countries and an early freeze date for Article 5
countries.
"Chemours fully supports the continued effort to reduce the use
and emissions of high GWP HFCs," said Paul Kirsch, president of
Chemours Fluoroproducts. "We believe that our portfolio of Opteon™
low GWP solutions provides the industry with a clear path forward
when it comes to transitioning to more sustainable alternatives,
without reducing performance."
The Opteon™ portfolio of fluorochemicals from Chemours
represents a breakthrough line of low GWP solutions. Based on
hydrofluoro-olefin technologies such as HFO-1234yf and
HFO-1336MzzZ, the portfolio was developed to help meet increasing
global HFC regulations while maintaining or improving performance
compared to incumbent products. Chemours has commercialized Opteon™
products for use in automotive air conditioning, stationary and
transport refrigeration and chillers. The company also has a
development pipeline of additional Opteon™ solutions for stationary
air conditioning, foam blowing agents and waste heat recovery.
Chemours recently announced two major investments in the large
scale manufacturing of Opteon™ products. In May of 2016, the
company announced that it will invest hundreds of millions of
dollars over the next three years to construct a new HFO-1234yf
plant in Corpus Christi, Texas,
with expected start-up in the second half of 2018. In November of
2015, the company also officially broke ground on the world's first
full-scale production facility for HFO-1336mzzZ, with expected
production beginning mid-year 2017. These investments will
provided increased capacity for low GWP refrigerants and blowing
agents, allowing Chemours to provide its customers with the
solutions they need to meet the changing regulations within the
industry.
For more than 85 years the fluorochemicals business within
Chemours has provided innovative refrigeration and foam blowing
solutions to meet changing customer needs. Opteon™ low GWP products
are the latest innovation, offering a long-term solution for our
customers along with drastically reduced impact to the environment.
The global adoption of Opteon™ products represents a clear path
toward moving the world away from HFCs, which have high global
warming potential.
For more information visit us at Opteon.com.
About The Chemours Company
The Chemours Company (NYSE:
CC) helps create a colorful, capable and cleaner world through the
power of chemistry. Chemours is a global leader in titanium
technologies, fluoroproducts and chemical solutions, providing its
customers with solutions in a wide range of industries with
market-defining products, application expertise and chemistry-based
innovations. Chemours ingredients are found in plastics and
coatings, refrigeration and air conditioning, mining and oil
refining operations and general industrial manufacturing. Our
flagship products include prominent brands such as Teflon™,
Ti-Pure™, Krytox™, Viton™, Opteon™ and Nafion™. Chemours has
approximately 8,000 employees across 35 manufacturing sites serving
more than 5,000 customers in North
America, Latin America,
Asia-Pacific and Europe. Chemours is headquartered in
Wilmington, Delaware and is listed
on the NYSE under the symbol CC. For more information please
visit chemours.com or follow Chemours on Twitter at
@chemours.
Forward-Looking Statements
This press release contains
forward-looking statements, which often may be identified by their
use of words like "plans," "expects," "will," "believes,"
"intends," "estimates," "anticipates" or other words of similar
meaning. These forward-looking statements address, among other
things, our anticipated future operating and financial performance,
business plans and prospects, transformation plans, resolution of
environmental liabilities, litigation and other contingencies,
plans to increase profitability, our ability to pay or the amount
of any dividend, and target leverage that are subject to
substantial risks and uncertainties that could cause actual results
to differ materially from those expressed or implied by such
statements. Forward-looking statements are not guarantees of future
performance and are based on certain assumptions and expectations
of future events which may not be realized. The matters discussed
in these forward-looking statements also are subject to risks,
uncertainties and other factors that could cause actual results to
differ materially from those projected, anticipated or implied in
the forward-looking statements, as further described in our filings
with the Securities and Exchange Commission, including our annual
report on Form 10-K for the fiscal year ended December 31, 2015. Chemours undertakes no duty to
update any forward-looking statements.
CONTACT:
MEDIA:
Andrew
Abloeser
Global Marketing Communications
Consultant
+1.302.773.4502
andrew.abloeser@chemours.com
INVESTORS:
Alisha
Bellezza
Treasurer & Director of Investor
Relations
+1.302.773.2263
investor@chemours.com
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SOURCE The Chemours Company