Chemours Supports Local Community with Sustainable, Low-GWP Opteon™ XP10 Refrigerant

Rhea-AI Summary

The Chemours Company (NYSE: CC) contributed to a sustainable refrigeration system at Gem City Market in Dayton, Ohio, aimed at addressing food deserts. The innovative system, designed by Emerson and built by Hussmann, utilizes Opteon™ XP10 refrigerant, which boasts low global warming potential (GWP) and high energy efficiency. This initiative supports low-income communities by offering eco-friendly solutions. The partnership highlights Chemours' commitment to sustainability and community support, with an 85% reduction in GWP compared to traditional refrigerants.

Positive

• Donation of Opteon™ XP10 refrigerant supports sustainable refrigeration and community health.
• Partnership with Emerson and Hussmann enhances technological advancement in low-income areas.
• Opteon™ XP10 offers an 85% reduction in GWP compared to traditional refrigerants.

Negative

• None.

WILMINGTON, Del., May 12, 2021 /PRNewswire/ -- The Chemours Company (Chemours) (NYSE: CC), a global chemistry company with leading market positions in Titanium Technologies, Thermal & Specialized Solutions, Advanced Performance Materials, and Chemical Solutions, was recently recognized for its donation to an innovative, sustainable refrigeration system installed in Gem City Market - a newly opened community co-op that supports the elimination of a food desert in downtown Dayton, Ohio. Food deserts are defined as regions with a 20% or greater poverty rate and where a third or more of the residents live more than one mile from retail outlets selling healthy and affordable food.  As part of the system architecture designed by Emerson at the Helix Innovation Center and built by Hussmann, Opteon™ XP10 (R-513A) was chosen as the refrigerant solution providing the best overall balance of performance, efficiency, safety, and cost.

Gem City Market was built, and is owned by, the Dayton community with member-owners and loyal customers being vital to the market's success. Chemours, Emerson and Hussmann donated the refrigeration equipment as part of a collaborative effort to offer a sustainable solution for the community. 

Opteon™ XP10 (R-513A) is a sustainable, low global warming potential (GWP), non-ozone depleting (ODP) refrigerant offering long-term environment benefits and system improvements over other refrigerant options such as R-404A, CO² (R-744), hydrocarbons, and R-134a.  The non-flammable, low toxicity refrigerant has unique thermodynamic properties enabling high energy efficiency for both low (frozen food) and medium (produce, dairy, meat) temperature applications.  

"The opportunity to support the Gem City Market co-op is a great example of our commitment to help address the issues affecting low income communities around the nation, while offering solutions that help reduce carbon emissions," stated Joseph Martinko, Sr. Business Director, Americas, Thermal & Specialized Solutions

The store will utilize an innovative system architecture developed by Emerson known as the Copeland scroll booster.  Donations to Gem City Market included assembly components and ten, low temperature booster systems from Emerson, an assembled refrigeration system from Hussmann, and low-GWP (AR4 631), Opteon™ XP10 refrigerant from Chemours.

Utilizing a single, low-GWP refrigerant throughout the entire store helps maintain a simple and more cost-effective system over its lifetime.  Opteon™ XP10 offers an 85% reduction in GWP compared to R-404A, a legacy refrigerant that would typically be used for a food retail application like this.

"Eliminating food deserts and ensuring everyone has access to fresh high-quality food is a basic human right.  Partnerships with companies like Emerson and Hussmann allow us to not only support the community but grant access to next generation technologies that will help the Gem City Market remain compliant and minimize operating costs long term," said Charles Allgood, Refrigerants Technology Leader at Chemours. 

Opteon™ XP10 offers an environmentally and economically sustainable solution for this new state-of-the-art architecture from Emerson and Hussmann enabling a highly efficient refrigeration system for Gem City Market.  The reduced energy usage will pay dividends for decades to come in the form of lower electrical bills, which can represent a large percentage of a store's overall operating costs. 

For more information, please visit opteon.com.

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 
Thomas Sueta
Director, Corporate Communications
+1.302.773.3903
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

FAQ

What is the significance of Chemours' donation to Gem City Market?

Chemours donated Opteon™ XP10 refrigerant for a sustainable refrigeration system to help eliminate food deserts in Dayton, Ohio.

How does Opteon™ XP10 compare to traditional refrigerants?

Opteon™ XP10 has an 85% lower global warming potential than traditional refrigerants like R-404A.

What are the benefits of the refrigeration system at Gem City Market?

The system improves energy efficiency and reduces carbon emissions while supporting access to fresh, affordable food.

When was Chemours' contribution to Gem City Market announced?

The donation was announced on May 12, 2021.

What is the stock symbol for Chemours?

Chemours is listed on the NYSE under the symbol CC.