NHL and Chemours Announce Multiyear Partnership Renewal, Expanding Successful Collaboration on Sustainable Solutions for Community Rinks Across North America

Rhea-AI Summary

Chemours has renewed its multiyear partnership with the NHL, extending collaboration on sustainable refrigerant solutions for ice rinks. Started in 2018, this partnership focuses on providing Opteon™ refrigerants to replace high GWP refrigerants, addressing environmental compliance as U.S. regulations phase out substances like HCFC-22. The renewal will also foster STEM education through a middle school program. The initiative aims to improve rink infrastructure sustainability across North America, supporting community rinks while promoting values like integrity and teamwork.

Positive

• Renewal of partnership with NHL enhances brand visibility and commitment to sustainability.
• Transitioning approximately 200 rinks to Opteon™ refrigerants contributes to environmental compliance.
• Partnership supports STEM education, aligning with corporate social responsibility objectives.

Negative

• None.

NEW YORK and TORONTO, Oct. 6, 2021 /PRNewswire/ -- The National Hockey League® (NHL) and The Chemours Company ("Chemours") (NYSE: CC), a global chemistry company with leading positions in Titanium Technologies, Thermal & Specialized Solutions, Advanced Performance Materials and Chemical Solutions, announced today their multiyear renewal of a partnership that started in 2018 and continues to provide education, technical support, innovation and sustainable solutions with Opteon™ refrigerants to support the NHL's commitment to ensuring all levels of hockey thrive for future generations. In addition, the partnership will expand beyond ice rinks and into the classroom via support of Chemours' middle school partnership program to inspire the next generation of STEM professionals, while fostering values core to both organizations, such as integrity, respect, courage, teamwork, perseverance, and acceptance.

With this partnership renewal, both organizations are building on the strong foundation of successful outreach to community and professional ice rinks alike, providing environmentally and economically sustainable refrigerant solutions to an aging rink infrastructure across North America that has historically been heavily dependent on ozone depleting or high global warming potential (GWP) refrigerants such as HCFC-22 and HFC blend R-507. 

In the initial term of the partnership and through collaboration with mechanical contractors, design engineers and equipment manufacturers, approximately 200 community, university and professional rinks, including The SAP Center, home of the San Jose Sharks® in California, and Ball Arena, home of the Colorado Avalanche®, have successfully transitioned to Opteon™ refrigerants. This collaborative approach between the NHL and Chemours has encouraged taking a more holistic view of rink and facilities management that goes beyond a simple comparison of refrigerant fluids and encompasses total system emissions and life cycle costs of facility operations.

The extension of the term of the partnership comes at a critical time, when U.S. regulatory changes require the phase-out of the production and import of high GWP refrigerants, such as HCFC-22, as part of the passage of the AIM Act. Now, more than ever, community rink owners and operators need to be well informed on changing environmental regulations, and consider several factors when selecting refrigerants and refrigeration systems to create the perfect sheet of ice, including equipment age, installation cost, ongoing maintenance cost, safety, performance and energy efficiency of a new system.

The partnership furthers the NHL's commitment to address barriers to the sport through environmental, financial and social sustainability in the community rink infrastructure. The NHL's environmental sustainability platform – NHL Green – continues to promote accessibility and sustainability throughout hockey, particularly as the League is focused on growing the game across North America and by providing broader exposure of the game to more diverse audiences and players of all ages and demographics at the grassroots level.

For more information, please visit www.optforbetter.com/nhl. 

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. 

About the NHL

The National Hockey League (NHL), founded in 1917, consists of 32 Member Clubs. Each team roster reflects the League's international makeup with players from more than 20 countries represented, all vying for the most cherished and historic trophy in professional sports – the Stanley Cup. Every year, the NHL entertains more than 670 million fans in-arena and through its partners on national television and radio; more than 191 million followers - league, team and player accounts combined - across Facebook, Twitter, Instagram, Snapchat, TikTok, and YouTube; and more than 100 million fans online at NHL.com. The League broadcasts games in more than 160 countries and territories through its rightsholders including ESPN, Turner Sports and NHL Network in the U.S.; Sportsnet and TVA Sports in Canada; Viaplay in the Nordic Region; Yandex in Russia; and CCTV and Tencent in China; and reaches fans worldwide with games available to stream in every country.  Fans are engaged across the League's digital assets on mobile devices via the free NHL App; across nine social media platforms; on SiriusXM NHL Network Radio; and on NHL.com, available in nine languages and featuring unprecedented access to player and team statistics as well as every regular-season and playoff game box score dating back to the League's inception, powered by SAP. NHL Original Productions and NHL Studios produce compelling original programming featuring unprecedented access to players, coaches and League and team personnel for distribution across the NHL's social and digital platforms.

The NHL is committed to building healthy and vibrant communities using the sport of hockey to celebrate fans of every race, color, religion, national origin, gender identity, age, sexual orientation, and socio-economic status. The NHL's Hockey Is For Everyone initiative reinforces that the official policy of the sport is one of inclusion on the ice, in locker rooms, boardrooms and stands. The NHL is expanding access and opportunity for people of all backgrounds and abilities to play hockey, fostering more inclusive environments and growing the game through a greater diversity of participants. To date, the NHL has invested more than $100 million in youth hockey and grassroots programs, with a commitment to invest an additional $5 million for diversity and inclusion programs over the next year.

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 June 30, 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 

NHL and the NHL Shield are registered trademarks and NHL Green name and logo are trademarks of the National Hockey League. NHL and NHL team marks are the property of the NHL and its teams.   © NHL 2021. All Rights Reserved.

 

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SOURCE The Chemours Company

FAQ

What is the new partnership between Chemours and the NHL?

Chemours has renewed its multiyear partnership with the NHL to provide sustainable refrigerant solutions for ice rinks.

What refrigerants is Chemours providing to the NHL?

Chemours is providing Opteon™ refrigerants as part of its partnership with the NHL.

How many rinks have transitioned to Opteon™ refrigerants?

Approximately 200 community, university, and professional ice rinks have transitioned to Opteon™ refrigerants.

When was the partnership between Chemours and the NHL originally started?

The partnership between Chemours and the NHL started in 2018.

What educational initiative is Chemours involved in with the NHL?

Chemours is expanding its partnership to support a middle school program aimed at inspiring the next generation of STEM professionals.

What regulatory changes are influencing Chemours’ partnership with the NHL?

U.S. regulatory changes require the phase-out of high GWP refrigerants, influencing the need for sustainable solutions.