WILMINGTON, Del., May 27, 2021 /PRNewswire/ -- The Chemours
Company has been selected by Johnson Controls, the global leader in
smart, healthy and sustainable buildings, to provide Opteon™ XL41
(R-454B) as the future refrigerant solution for their ducted
residential and commercial HVAC products, as well as its air-cooled
scroll chiller applications. This decision supports Johnson
Controls sustainability goals in transitioning away from the use of
high global warming potential (GWP) refrigerants, such as R-410A,
reinforcing their commitment to addressing climate change and
lowering customers' emissions. Chemours is a recognized leader in
providing sustainable, low GWP refrigerant solutions - driving
commercial readiness and the adoption of next-generation
refrigerants in the HVACR industry.
Opteon™ XL41 is a low GWP (AR4: 466), non-ozone depleting
refrigerant that offers a 78% reduction in GWP while improving
energy efficiency and lowering charge size when compared to R-410A.
This refrigerant offers manufacturers the ability to achieve their
long-term carbon dioxide (CO2) emission reduction goals
and requires minimal design modifications due to its similar
operating temperature and pressure to R-410A. Opteon™ XL41 provides
the optimal balance of performance, safety and longevity for future
air conditioning applications.
"We are excited to assist Johnson Controls with meeting their
customer needs by providing them a next-generation refrigerant
solution that offers a lower GWP and improved energy efficiency for
their future residential and commercial HVAC applications, as well
as its air-cooled scroll chillers," said Alisha Bellezza, President of Thermal &
Specialized Solutions at Chemours. "Chemours is dedicated to
partnering with our customers and the broader HVACR community with
technologies that help achieve their sustainability goals while
minimizing environmental impact to support the phase down of
hydrofluorocarbons (HFC) in the United
States."
Future regulatory requirements on CO2 emission
reduction will stimulate the transition to lower GWP refrigerants.
Opteon™ XL41 has the lowest EPA SNAP1 approved GWP for
unitary applications of all ASHRAE classified A2L (low-toxicity,
mild flammability) refrigerants in the HVAC industry today - much
lower than the pending 750 GWP limits being proposed. It is
compatible with plastic and elastomer materials and POE oil that
will minimize working capital design changes and enable an easier
transition from a R-410A platform.
"After evaluating several low-GWP alternatives on a variety of
performance and market metrics, such as safety, capacity,
efficiency, reliability, availability and longevity, we've
determined R-454B, sold by The Chemours Company as Opteon™ XL41, to
be the best-in-class low-GWP refrigerant," said Katie McGinty, vice president and chief
sustainability, government and regulatory affairs officer, Johnson
Controls. "This decision reinforces our continued commitment to
developing solutions that help transform the environments where
people live, work, learn and play, and advances our goal of helping
our customers achieve a 16% reduction in emissions by 2030."
This decision was made as the HVAC industry is preparing to
phase out high-GWP refrigerants, which are now being formally
addressed by the Environmental Protection Agency (EPA) through the
recently passed American Innovation and Manufacturing (AIM)
Act2.
Chemours has been collaborating with industry partners to
develop sustainable solutions that provide the performance today
demands to achieve the goals of tomorrow. As part of the transition
to support the regulatory mandates to phase down HFCs, Chemours
will continue to offer cutting-edge technologies, education and
ongoing training to value chain partners and the HVACR
community.
1 Lowest GWP rating of EPA SNAP approved
alternatives as of the publishing of this notice.
2 https://www.epa.gov/climate-hfcs-reduction/aim-act
About The Chemours Company
The Chemours Company
(Chemours or the Company) (NYSE: CC) is a global leader in Titanium
Technologies, Thermal & Specialized Solutions, Advanced
Performance Materials, and Chemical Solutions providing its
customers with solutions in a wide range of industries with
market-defining products, application expertise and chemistry-based
innovations. We deliver customized solutions with a wide range of
industrial and specialty chemicals products for markets, including
coatings, plastics, refrigeration, and air conditioning,
transportation, semiconductor and consumer electronics, general
industrial, mining and oil and gas. Our flagship products
include prominent brands such as Ti-Pure™, Opteon™, Freon™,
Nafion™, Krytox™, Teflon™, and Viton™. In 2019, Chemours was named
to Newsweek's list of America's Most Responsible Companies. The
company has approximately 6,500 employees and 30 manufacturing
sites serving approximately 3,300 customers in approximately 120
countries. Chemours is headquartered in Wilmington, Delaware and is listed on the NYSE
under the symbol CC.
For more information, we invite you to
visit chemours.com or follow us on
Twitter @Chemours or LinkedIn.
Forward-Looking Statements
This press release
contains forward-looking statements, within the meaning of Section
27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934, which involve risks and uncertainties.
Forward-looking statements provide current expectations of future
events based on certain assumptions and include any statement that
does not directly relate to a historical or current fact. The words
"believe," "expect," "will," "anticipate," "plan," "estimate,"
"target," "project" and similar expressions, among others,
generally identify "forward-looking statements," which speak only
as of the date such statements were made. These forward-looking
statements may address, among other things, the outcome or
resolution of any pending or future environmental liabilities, the
commencement, outcome or resolution of any regulatory inquiry,
investigation or proceeding, the initiation, outcome or settlement
of any litigation, changes in environmental regulations in the U.S.
or other jurisdictions that affect demand for or adoption of our
products, anticipated future operating and financial performance
for our segments individually and our company as a whole, business
plans, prospects, targets, goals and commitments, capital
investments and projects and target capital expenditures, plans for
dividends or share repurchases, sufficiency or longevity of
intellectual property protection, cost reductions or savings
targets, plans to increase profitability and growth, our ability to
make acquisitions, integrate acquired businesses or assets into our
operations, and achieve anticipated synergies or cost savings, all
of which 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 based on certain assumptions and expectations of future events
that may not be accurate or realized. These statements are not
guarantees of future performance. Forward-looking statements also
involve risks and uncertainties that are beyond Chemours' control.
In addition, the current COVID-19 pandemic has significantly
impacted the national and global economy and commodity and
financial markets, which has had and we expect will continue to
have a negative impact on our financial results. The full extent
and impact of the pandemic is unknown and to date has included
extreme volatility in financial and commodity markets, a
significant slowdown in economic activity, and increased
predictions of a global recession. The public and private sector
response has led to significant restrictions on travel, temporary
business closures, quarantines, stock market volatility, and a
general reduction in consumer and commercial activity globally.
Matters outside our control have affected our business and
operations and may or may continue to limit travel of employees to
our business units domestically and internationally, adversely
affect the health and welfare of our personnel, significantly
reduce the demand for our products, hinder our ability to provide
goods and services to customers, cause disruptions in our supply
chains, adversely affect our business partners or cause other
unpredictable events. Additionally, there may be other risks and
uncertainties that Chemours is unable to identify at this time or
that Chemours does not currently expect to have a material impact
on its business. Factors that could cause or contribute to these
differences include the risks, uncertainties and other factors
discussed in our filings with the U.S. Securities and Exchange
Commission, including in our Quarterly Report on Form 10-Q for the
quarter ended March 31, 2021 and in
our Annual Report on Form 10-K for the year ended December 31, 2020. Chemours assumes no obligation
to revise or update any forward-looking statement for any reason,
except as required by law.
CONTACT:
NEWS MEDIA
Cassie Olszewski
Media Relations and Financial Communications Manager
+1.302.219.7140
media@chemours.com
INVESTORS
Jonathan Lock
VP, Corporate Development and Investor Relations
+1.302.773.2263
investor@chemours.com
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SOURCE The Chemours Company