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Chemours and TC Energy Collaborate on the Development of Two Clean Hydrogen Production Facilities in West Virginia
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The Chemours Company (NYSE: CC) and TC Energy (NYSE: TRP) have signed a memorandum of understanding (MOU) to develop two hydrogen production facilities in West Virginia. This initiative is aligned with their participation in the Appalachian Regional Clean Hydrogen Hub (ARCH2) and aims to support decarbonization efforts. The facilities will utilize electrolysis technology and Chemours' Nafion ion exchange membranes. A non-binding off-take agreement is planned for the hydrogen produced, with excess supply available for nearby commercial users. Chemours emphasizes how this project aligns with their greenhouse gas reduction goals, while TC Energy aims to enhance clean energy production capabilities in the region.
Positive
Strategic MOU between Chemours and TC Energy to develop clean hydrogen production facilities.
Utilization of American-manufactured proton exchange membrane electrolysers.
Supports participation in the Appalachian Regional Clean Hydrogen Hub (ARCH2).
Alignment with Chemours’ greenhouse gas reduction goals.
Negative
None.
The agreement supports the companies’ participation in the Appalachian Regional Clean Hydrogen Hub (ARCH2) and further decarbonization efforts
WILMINGTON, Del.--(BUSINESS WIRE)--
The Chemours Company (“Chemours”) (NYSE: CC), a global chemistry company, and TC Energy, a leader in the responsible development and reliable operation of North American energy infrastructure, have executed a memorandum of understanding (MOU) for the potential development of two electrolysis-based hydrogen production facilities at or near Chemours’ Washington Works and Belle manufacturing sites in West Virginia. The MOU supports the companies’ participation in and goals of the Appalachian Regional Clean Hydrogen Hub (ARCH2) in West Virginia.
The agreement covers the companies’ interest in developing, constructing, and operating clean hydrogen production facilities and associated infrastructure. The proposed development includes using established proton exchange membrane (PEM) electrolysers manufactured in America and utilizing Chemours’ NafionTM ion exchangemembranes.
Under the terms of the MOU, a non-binding off-take agreement for hydrogen produced by the project would be executed, supporting the facility demands of Chemours. Additionally, hydrogen produced in excess of the off-take agreement would be stored and available for loading and shipment to nearby merchant users.
“As West Virginia’s largest chemical manufacturer, we’re excited by the potential these clean hydrogen production facilities can offer to the State through ARCH2, as well as furthering the decarbonization of our operations,” said Jonathan Lock, Senior Vice President, Chief Development Officer at Chemours. “Working with TC Energy, we’ve conducted hydrogen blend testing at our Washington Works and Belle sites, demonstrating the feasibility of feeding a hydrogen-natural gas blend fuel to existing fired boiler equipment. We look forward to moving these potential projects forward as part of the U.S. Department of Energy’s call for regional clean hydrogen hub submissions alongside the State and seeing how they can assist us in reaching our bold greenhouse gas reduction goal.”
“At TC Energy, we take a customer-driven approach to developing and executing energy solutions,” said Corey Hessen, Executive Vice President and President, Power & Energy Solutions at TC Energy. “This relationship with Chemours is an excellent example of putting that commitment into effect – serving their green hydrogen demand. With our long history of operating critical infrastructure in West Virginia, we are excited to develop new clean energy production opportunities and to forge a strong relationship with Chemours.”
Responsibility and collaboration are two core company values at TC Energy and Chemours. As the companies continue to progress under the agreement, they will engage community stakeholders to share updates and information.
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 are sold under prominent brands such as Ti-Pure™, Opteon™, Freon™, Teflon™, Viton™, Nafion™, and Krytox™. The company has approximately 6,600 employees and 29 manufacturing sites serving approximately 2,900 customers in approximately 120 countries. Chemours is headquartered in Wilmington, Delaware and is listed on the NYSE under the symbol CC.
We’re a team of 7,000+ energy problem solvers working to move, generate and store the energy North America relies on. Today, we’re taking action to make that energy more sustainable and more secure. We’re innovating and modernizing to reduce emissions from our business. And, we’re delivering new energy solutions – from natural gas and renewables to carbon capture and hydrogen – to help other businesses and industries decarbonize too. Along the way, we invest in communities and partner with our neighbours, customers and governments to build the energy system of the future.
TC Energy’s common shares trade on the Toronto (TSX) and New York (NYSE) stock exchanges under the symbol TRP. To learn more, visit us at TCEnergy.com.
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 regulationsin 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 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, including general economic conditions, have affected or may affect 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 such as through strikes, labor disruptions or other events, 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 Annual Report on Form 10-K for the year ended December 31, 2022. Chemours assumes no obligation to revise or update any forward-looking statement for any reason, except as required by law.
NEWS MEDIA
Thom Sueta Director, Corporate Communications, Chemours
+1.302.773.3903
media@chemours.com
Stone Grissom / Reid Fiest media@tcenergy.com
+1.403.920.7859 or 800.608.7859
Source: The Chemours Company
FAQ
What is the MOU between Chemours and TC Energy about?
The MOU involves the development of two electrolysis-based hydrogen production facilities in West Virginia, supporting clean energy initiatives.
How does the MOU support the Appalachian Regional Clean Hydrogen Hub (ARCH2)?
The MOU aligns Chemours and TC Energy's efforts with ARCH2's goals for regional clean hydrogen production.
What technology will be used in the hydrogen production facilities?
The facilities will utilize proton exchange membrane (PEM) electrolysers manufactured in the U.S., along with Chemours' Nafion TM ion exchange membranes.
What are the potential benefits of this agreement for Chemours and TC Energy?
This collaboration aims to enhance clean energy production, support decarbonization efforts, and fulfill Chemours' greenhouse gas reduction targets.
