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Chemours and BOHN Collaborate to Innovate the Cold Food Chain, Launching the First Low GWP Solution in the Americas Based on A2L Technology
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Rhea-AI Summary
The Chemours Company (NYSE: CC) has partnered with Bohn de Mexico to incorporate low global warming potential (GWP) refrigerants into its new line of Ecoflex refrigeration units. The refrigerants, including Opteon™ XL40, XL20, and XL10, align with the industry's shift toward sustainability and compliance with environmental regulations. This collaboration will enhance the efficiency and affordability of refrigeration solutions while supporting Bohn's sustainability goals. Chemours is also expanding its Opteon™ production capacity to meet rising demand.
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Partnership with Bohn de Mexico supports sustainability goals through adoption of low GWP refrigerants.
Expansion of Opteon™ production capacity by approximately 40% to meet growing demand.
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Bohn de Mexico adopts new Opteon™ XL40, Opteon™ XL20, and Opteon™ XL10 refrigerants for its BOHN Ecoflex commercial refrigeration equipment
WILMINGTON, Del.--(BUSINESS WIRE)--
The Chemours Company ("Chemours") (NYSE: CC), a global chemical company with market-leading positions in Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials, announced an alliance with Bohn de Mexico, a leading commercial and industrial refrigeration equipment technology and manufacturing company with a presence in the Latin American region. As part of the alliance, Bohn de Mexico will adopt the non-ozone depleting (ODP) and low global warming potential (GWP) refrigerants, Opteon™ XL20 (R-454 C), Opteon™ XL40 (R-454A), and Opteon™ XL10 (R-1234yf) for its new line of BOHN Ecoflex condensing units.
"Today, users in the refrigeration industry demand efficient and affordable solutions that comply with current environmental regulations and support them in meeting their sustainability goals," said Miguel Escamilla, Chemours' Opteon™ Refrigerants Development Leader for Mexico CAC and the Andean region. "The transition to the use of low GWP refrigerants is one of the trends that will define the present and future sustainability of the HVACR industry in Mexico and the world. We are excited to provide Bohn de Mexico with our Opteon™ XL refrigerant solutions for their new line of Ecoflex refrigeration systems."
The Opteon™ XL refrigerant line offers very low GWP solutions that fit perfectly with Bohn de Mexico's new generation of Ecoflex equipment that provide cutting-edge technological innovations for optimal energy efficiency of refrigeration systems, as well as help the company meet its sustainability goals. This new equipment will enable an easier transition to sustainable technologies by reducing the need for high investment, operating costs for conversion, and adjustment to all store sizes and refrigeration requirements.
"BOHN is a leader in innovation, quality, service, and customer focus. Every day we innovate using state-of-the-art refrigeration technology, such as the adoption of Chemours' Opteon™ XL refrigerants. At the same time, we support the world to enjoy the benefit of cold in a sustainable way," commented Eloy Espinosa, Director of Engineering and Quality at BOHN.
The frozen food chain also needs an extensive and reliable spare parts supply network. The failure of a component or refrigerant for a few hours can lead to huge losses. The partnership between BOHN and Chemours will also ensure the availability of replacement products at the various locations where the systems will be installed, leveraging Chemours' network of authorized distributors that already supply traditional fluids.
In addition, Chemours continues to invest in the expansion of its Opteon™ production capacity to help meet growing cold chain demand. When Chemours opened its Corpus Christi, Texas facility in June 2019, it more than tripled the company's Opteon™ capacity, making it one of the largest HFO-1234yf production facilities in the world, a distinction it will maintain with its recently announced expansion project. The investment, along with ongoing debottlenecking projects, will further increase Opteon™ capacity by approximately 40%.
From transportation to food vending to air conditioning, Opteon™ refrigerants offer the optimal balance of performance, environmental sustainability, safety, and cost in many downstream industries and applications. These products were developed to meet stringent global environmental regulations while maintaining or improving performance compared to the current products they replace. A recognized leader in the manufacture and supply of sustainable, low GWP hydrofluoroolefins (HFO), Chemours continues to invest in and meet the needs of its customers as they continue to transition to low GWP refrigerants.
About The Chemours Company
The Chemours Company (NYSE: CC) is a global leader in Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials 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, and oil and gas. Our flagship products include prominent brands such as Ti-Pure™, Opteon™, Freon™, Teflon™, Viton™, Nafion™, and Krytox™. The company has approximately 6,400 employees and 29 manufacturing sites serving approximately 3,200 customers in approximately 120 countries. Chemours is headquartered in Wilmington, Delaware and is listed on the NYSE under the symbol CC.
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 still being determined and to date has included significant volatility in financial and commodity markets and a severe disruption in economic activity. The public and private sector response has led to travel restrictions, temporary business closures, quarantines, stock market volatility, and interruptions in consumer and commercial activity globally. Matters outside our control have affected our business and operations and may or may continue to hinder our ability to provide goods and services to customers, cause disruptions in our supply chains, adversely affect our business partners, significantly reduce the demand for our products, adversely affect the health and welfare of our personnel 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 September 30, 2022 and in our Annual Report on Form 10-K for the year ended December 31, 2021. Chemours assumes no obligation to revise or update any forward-looking statement for any reason, except as required by law.
NEWS MEDIA
Cassie Olszewski Media Relations and Financial Communications Manager
+1.302.219.7140
media@chemours.com
Source: The Chemours Company
FAQ
What is the significance of Chemours' partnership with Bohn de Mexico?
Chemours' partnership with Bohn de Mexico allows the incorporation of low GWP refrigerants in Ecoflex refrigeration units, supporting sustainability and compliance with environmental regulations.
What refrigerants are being adopted by Bohn de Mexico?
Bohn de Mexico is adopting Opteon™ XL40, XL20, and XL10 refrigerants for its Ecoflex refrigeration systems.
How much is Chemours increasing its Opteon™ production capacity?
Chemours is increasing its Opteon™ production capacity by approximately 40% to meet growing demand.
What market trends does Chemours' alliance with Bohn de Mexico reflect?
The alliance reflects a trend toward environmentally friendly refrigeration solutions that comply with sustainability goals and regulations.
