How Better Chemistry Catalyzes Decarbonization

Rhea-AI Summary

Chemours is positioning itself at the forefront of the clean hydrogen revolution, potentially cutting 7 gigatons of carbon dioxide emissions annually by 2050. It aims to reduce hydrogen production costs from over $5 to $1 per kilogram by 2032 through strategic partnerships and a $200 million investment in Nafion™ production. With a commitment to achieving a 60% greenhouse gas reduction by 2030 and generating 50% of revenue from sustainable products by 2030, Chemours has logged $6.3 billion in sales for 2021. The advancements in materials science are set to enhance efficiencies across multiple industries.

Positive

• Invested $200 million in Nafion™ to enhance green hydrogen production.
• Partnerships with the US Department of Defense and others to lower hydrogen costs to $1/kg by 2032.
• Committed to a 60% reduction in greenhouse gas emissions by 2030.
• Aiming for 50% of revenue from sustainable products by 2030.
• Logged $6.3 billion in sales for 2021.

Negative

• Current hydrogen production costs exceed $5 per kilogram, hindering adoption.

NORTHAMPTON, MA / ACCESSWIRE / March 20, 2023 / In the near future, clean hydrogen, or hydrogen produced with very low or zero carbon emissions, could be one of the most viable replacements for fossil fuels. By 2050, it could cut 7 gigatons of carbon dioxide (CO₂) annually, about 20% of human-generated CO₂ emissions. In addition, it could help with net-zero transitions for steel, petrochemical, and fertilizer manufacturing, plus the heavy-duty trucking, aviation, railroad, and shipping industries.

However, the expense of producing green hydrogen, more than $5 per kilogram, is hindering widespread adoption. The Wilmington, Del.-based chemistry company Chemours is helping change that.

In October 2022, Chemours dedicated $200 million to expand its offering of Nafion™, a membrane material at the center of water electrolyzers. This membrane material enables green hydrogen energy production, energy storage in flow batteries, and hydrogen conversion to power fuel cell vehicles.

Chemours also partnered with the U.S. Department of Defense, the University of Delaware, Plug Power, and the U.S. Department of Energy's National Renewable Energy Laboratory to advance research to slash green hydrogen costs to $1 per kilogram by 2032.

"Materials science is at the heart of amazing things happening in the world, from climate and clean energy technology to advanced electronics, all of which allow for a more sustainable future," says Chemours president and CEO Mark Newman.

Beyond these developments, the company is stepping up research and development for fluoropolymers and fluoroelastomers, such as Teflon™ and Viton™, used for weatherproofing wind turbines, solar panel wiring insulation, and lithium-ion batteries to improve the materials' efficiencies in cold temperatures. Then there's the $80 million initiative to expand Opteon™, its low global warming potential refrigerant line used for chilling food and pharmaceuticals and for cooling buildings and automobiles. Similarly, advances with its titanium dioxide pigment, Ti-Pure™, are supporting reduced material usage, improved energy efficiency, and circularity across applications-from paint and plastics to solar panels and building materials.

For its own 2050 net-zero commitment, Chemours pledged a 60% greenhouse gas reduction by 2030 and is seeking SBTi approval on science-based targets for its Scope 1, 2, and 3 carbon emissions. The company, which logged $6.3 billion in sales for 2021, has committed to generating 50% or more of its revenue from products that contribute to the UN Sustainable Development Goals by 2030.

Chemours is less than three percentage points away from that revenue goal, and Newman believes these developments will push it over the line. "A society that embraces science and innovation is a society that is equipped to meet any challenge," says Newman. "That's why at Chemours, we believe in our collective ability to create a better world through the power of our chemistry."

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SOURCE: The Chemours Company

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FAQ

What is Chemours' goal for green hydrogen production costs by 2032?

Chemours aims to reduce green hydrogen production costs to $1 per kilogram by 2032.

How much did Chemours invest in Nafion™ for green hydrogen production?

Chemours dedicated $200 million to expand its Nafion™ production.

What are Chemours' greenhouse gas reduction targets for 2030?

Chemours committed to a 60% reduction in greenhouse gas emissions by 2030.

What was Chemours' sales figure for 2021?

Chemours logged $6.3 billion in sales for 2021.

What percentage of Chemours' revenue does it aim to generate from sustainable products by 2030?

Chemours aims to generate 50% or more of its revenue from sustainable products by 2030.