Hudson Technologies Joins Cool Coalition
October 05 2023 - 9:16AM
Hudson Technologies, Inc. (NASDAQ: HDSN), a leading provider of
innovative and sustainable refrigerant products and services to the
Heating, Ventilation, Air Conditioning, and Refrigeration industry
– and one of the nation’s largest refrigerant reclaimers – today
announced that the Company has joined the Cool Coalition, a global
multi-stakeholder network that connects a wide range of key
participants from government, cities, international organizations,
businesses, finance, academia, and civil society groups to
facilitate knowledge exchange, advocacy and joint action towards a
rapid global transition to efficient and climate-friendly
cooling.
The Cool Coalition was
assembled by the United Nations Environment Programme (UNEP) with
the belief that a unified effort of governments, cities,
businesses, and civil society that share the objective of advancing
efficient, climate-friendly cooling will be more effective in
bringing about change than any of us acting alone. The organization
has over 100 partners including 23 countries, and works around
three key pillars of advocacy, action and knowledge exchange under
the recognition that ensuring the transition to efficient,
climate-friendly cooling for all is fundamental for climate action
and sustainable development. The Cool Coalition promotes a
cross-sectoral approach to meet the cooling needs of both
industrialized and developing countries through urban form, better
building design, energy efficiency, renewables, and thermal storage
as well as phasing down HFCs.
According to the Cool Coalition, “Around 30
percent of the world’s population is exposed to life-threatening
temperatures for at least 20 days a year, and heat waves already
lead to 12,000 deaths worldwide. These numbers will increase as the
planet warms. Lack of cooling kills, but so does providing
inefficient cooling and cooling that heightens global warming. Cool
Coalition members are collaborating on science, policy, finance,
and technology to meet growing demands for cooling comprehensively,
all aimed at raising climate ambition in the context of the
Sustainable Development Goals while complementing the global goals
of the Kigali Amendment to the Montreal Protocol and the Paris
Climate Agreement.” The organization’s mission also aligns to
promote the HFC reduction goals set by the United States via the
passage of the American Innovation and Manufacturing Act.
Brian F. Coleman, President and Chief Executive
Officer of Hudson Technologies, commented, “Hudson’s commitment to
supporting the circular economy for refrigerants and environmental
stewardship is a fundamental element of our operations. Joining the
Cool Coalition is a natural fit, complementing our goal to
accelerate the global transition to efficient and climate-friendly
cooling alternatives. Hudson has proven success providing
environmentally sustainable solutions for all cooling needs -- from
the initial sale of refrigerant through recovery, reclamation, and
reuse as well as through our portfolio of servicing options which
help promote peak operating performance of equipment through energy
efficiency and emergency HVAC system repair, as well as refrigerant
end-of-life management and carbon credit development. We look
forward to working with the members of the Cool Coalition to
advance efficient, effective and sustainable cooling practices and
products to ease and accelerate the transition to greener cooling
systems and refrigerants.”
About Hudson Technologies
Hudson Technologies, Inc. (the “Company”) is a
leading provider of innovative and sustainable refrigerant products
and services to the Heating, Ventilation, Air Conditioning, and
Refrigeration industry. For nearly three decades, we have
demonstrated our commitment to our customers and the environment by
becoming one of the first in the United States and largest
refrigerant reclaimers, through multimillion dollar investments in
the plants and advanced separation technology required to recover a
wide variety of refrigerants and restoring them to
Air-Conditioning, Heating, and Refrigeration Institute standard for
reuse as certified EMERALD Refrigerants™. The Company's products
and services are primarily used in commercial air conditioning,
industrial processing and refrigeration systems, and include
refrigerant and industrial gas sales, refrigerant management
services consisting primarily of reclamation of refrigerants and
RefrigerantSide® Services performed at a customer's site,
consisting of system decontamination to remove moisture, oils and
other contaminants. The Company’s SmartEnergy OPS® service is a
web-based real time continuous monitoring service applicable to a
facility’s refrigeration system and other energy systems. The
Company’s Chiller Chemistry® and Chill Smart® services are also
predictive and diagnostic service offerings. As a component of the
Company’s products and services, the Company also generates carbon
offset projects.
Safe Harbor Statement under the Private
Securities Litigation Reform Act of 1995
Statements contained herein which are not
historical facts constitute forward-looking statements. Such
forward-looking statements involve a number of known and unknown
risks, uncertainties and other factors which may cause the actual
results, performance or achievements of the Company to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. Such factors include, but are not limited to,
changes in the laws and regulations affecting the industry, changes
in the demand and price for refrigerants (including unfavorable
market conditions adversely affecting the demand for, and the price
of, refrigerants), the Company's ability to source refrigerants,
regulatory and economic factors, seasonality, competition,
litigation, the nature of supplier or customer arrangements that
become available to the Company in the future, adverse weather
conditions, possible technological obsolescence of existing
products and services, possible reduction in the carrying value of
long-lived assets, estimates of the useful life of its assets,
potential environmental liability, customer concentration, the
ability to obtain financing, the ability to meet financial
covenants under existing credit facilities, any delays or
interruptions in bringing products and services to market, the
timely availability of any requisite permits and authorizations
from governmental entities and third parties as well as factors
relating to doing business outside the United States, including
changes in the laws, regulations, policies, and political,
financial and economic conditions, including inflation, interest
and currency exchange rates, of countries in which the Company may
seek to conduct business, the Company’s ability to successfully
integrate any assets it acquires from third parties into its
operations, the impact of the current COVID-19 pandemic, and other
risks detailed in the Company's 10-K for the year ended December
31, 2022 and other subsequent filings with the Securities and
Exchange Commission. The words "believe", "expect",
"anticipate", "may", "plan", "should" and similar expressions
identify forward-looking statements. Readers are cautioned
not to place undue reliance on these forward-looking statements,
which speak only as of the date the statement was made.
Investor Relations
Contact:John Nesbett/Jennifer BelodeauIMS Investor
Relations (203) 972-9200jnesbett@institutionalms.com |
Company
Contact:Brian F. Coleman, President & CEOHudson
Technologies, Inc.(845) 735-6000bcoleman@hudsontech.com |
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