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The Chemours Company - CC STOCK NEWS

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The Chemours Company (NYSE: CC) is a global leader in the chemical industry, focusing on the innovative application of chemistry to shape markets, redefine industries, and enhance everyday life. Spun off from DuPont's performance chemicals businesses, Chemours is renowned for its expertise in Titanium Technologies, Fluoroproducts, and Chemical Solutions. The company excels in providing tailor-made solutions across various sectors, including coatings, plastics, refrigeration, air conditioning, and more.

One of Chemours' standout contributions is the Ti-Pure™ technology, which offers superior paint formulations that cover more surface area with less effort. Similarly, the Opteon™ YF refrigerants for automotive air conditioning systems demonstrate the company's commitment to sustainability, with a global warming potential that is 99.9% lower than traditional refrigerants like HFC-134a. Another groundbreaking product is the Teflon EcoElite™ finish, a renewably sourced, non-fluorinated fabric treatment that provides durable water repellency using 60% renewably sourced materials.

Chemours operates through three primary segments: Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials. The Titanium Technologies segment, which generates the majority of the company's revenue, is a major producer of TiO2 pigment. This premium white pigment is essential for various applications, providing whiteness, brightness, opacity, and durability.

Geographically, Chemours derives a significant portion of its revenue from North America, but its reach is global. The company is continually involved in transformative projects and strategic partnerships to foster growth and innovation. For instance, Chemours has been actively participating in events like CERAWeek, where it engages with industry leaders, policymakers, and innovators to discuss energy transition and the role of hydrogen in this field.

Recently, Chemours has made significant strides in the hydrogen economy. At CERAWeek 2024, the company discussed ways to reduce hydrogen costs and accelerate the transition to clean energy. Chemours is a leading global supplier of ionomers and membranes for proton exchange membrane (PEM) electrolysis and is heavily involved in the U.S. DOE Regional Clean Hydrogen Hub initiative.

The company is also addressing the energy demands of data centers, which are crucial for our increasingly digital economy. Chemours showcased its two-phase immersion cooling (2-PIC) technology at CERAWeek, which significantly reduces energy and water use in data centers. This innovation underlines Chemours' commitment to sustainability and efficiency.

By continually pushing the boundaries of what chemistry can achieve, Chemours stands as a beacon of innovation, sustainability, and excellence in the chemical industry.

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The Chemours Company (NYSE: CC) has announced the schedule for its third quarter 2024 financial results release and conference call. The company plans to issue its financial results before the market opens on Monday, November 4, 2024. Following this, Chemours will host a conference call at 8:00 a.m. Eastern Standard Time on the same day to discuss the results.

The call will be open to the public and accessible via a live webcast. Interested parties can find the webcast link and accompanying slides on the investors.chemours.com website. For those unable to attend the live event, a webcast replay will also be made available on the same investor relations website.

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Chemours' Chief Sustainability Officer, Amber Wellman, emphasizes the importance of partnerships in creating a more sustainable world. The company's sustainability strategy is organized around four pillars: Environmental Leadership, Innovation & Sustainable Solutions, Community Impact, and Greatest Place to Work.

Key highlights include:

  • 52% reduction in Scope 1 and 2 GHG emissions since 2018
  • 48% of revenue from products contributing to UN SDGs
  • $5.6 million in community grants awarded in 2023
  • 15 global regions certified as Great Place to Work®

Chemours is strengthening partnerships to accelerate progress, such as collaborating with the Wildlife Habitat Council and participating in the Clean Hydrogen Partnership. The company remains committed to its 2030 sustainability goals and continues to seek ways to improve performance and increase impact.

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Chemours CEO Denise Dignam reaffirms the company's commitment to sustainability in the face of challenges. The company has made significant progress towards its Corporate Responsibility Commitment goals, focusing on improving lives, powering progress, and protecting the planet. Chemours is integrating sustainability into business decisions and actions across the organization.

Key points include:

  • Advancing sustainable innovations and reducing operational impact
  • Partnering with stakeholders to address global challenges
  • Investing in emissions control technologies and reducing energy and water consumption
  • Setting ambitious environmental goals and promoting greater circularity
  • Renewing commitment to the Ten Principles of the United Nations Global Compact

Dignam emphasizes that responsible manufacturing is crucial, and Chemours continues to be an environmental leader in the industry. The company's 2023 Sustainability Report details milestones achieved and outlines future sustainability efforts.

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Chemours has been recognized by the U.S. Department of Energy for achieving its emissions reduction goal as part of the Better Climate Challenge. The company has reduced scope 1 and scope 2 greenhouse gas emissions by 58% through decarbonization efforts across its U.S. operations. This achievement aligns with Chemours' 2030 Sustainability Goals and its participation in the DOE's Better Climate Challenge and Better Plants Challenge.

Dr. Amber Wellman, Chemours' Chief Sustainability Officer, expressed pride in surpassing the goal ahead of schedule and emphasized the company's commitment to sustainability. The DOE's Better Buildings Initiative, which includes these challenges, has helped partners save nearly $22 billion in energy costs and avoid over 220 million metric tons of greenhouse gas emissions. Chemours is recognized as a market leader in setting portfolio-wide emissions reduction goals and sharing strategies with others.

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Chemours is playing a important role in advancing the electric vehicle (EV) revolution through innovative chemistry solutions. The company's products enhance EV performance, sustainability, and manufacturing efficiency:

1. Advanced fluoropolymers in battery production accelerate manufacturing and eliminate hazardous solvents.

2. High-performing fluoroelastomers and fluoropolymers improve durability in critical parts like cables, seals, and gaskets.

3. Low global warming potential fluorinated gases enable cabin comfort, battery cooling, and extended driving ranges.

4. Advanced lubricants and fluoropolymers reduce vibration and noise, enhancing ride quality.

Chemours' Battery Innovation Center focuses on developing novel battery technologies to further improve EV performance and sustainability.

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Chemours (NYSE: CC) has developed a low global warming potential (GWP) refrigerant retrofit approach for the automotive aftermarket. This innovative solution will allow older vehicles to easily and cost-effectively transition from the legacy R-134a refrigerant to the climate-friendly Opteon™ YF (R-1234yf) refrigerant. The retrofit procedure is designed to be simple and safe for vehicle owners and service technicians.

Opteon™ YF, developed to replace R-134a in new mobile HVAC systems, is currently used in 250 million light-duty vehicles. By 2025, Chemours expects its Opteon™ portfolio to eliminate an estimated 325 million tons of carbon dioxide equivalent. This retrofit approach is a significant step in supporting global climate targets and regulations, especially considering the millions of vehicles still using R-134a.

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Chemours, a global leader in performance chemistry, has released its 2023 Sustainability Report, showcasing progress in resource efficiency and circularity. A key highlight is the international F-gas Lifecycle Program launched by its Thermal & Specialized Solutions business. This initiative aims to advance the recovery, reclaim, and reuse of fluorinated gases across Chemours' product portfolios, including Opteon™, Freon™, and FM-200™.

The program supports Chemours' commitment to a circular economy and aligns with UN Sustainable Development Goals. It also contributes to net zero objectives through emission reduction. Joe Martinko, President of Thermal & Specialized Solutions, emphasized the program's importance in reducing emissions throughout the product lifecycle. F-gases offer advantages over 'natural' alternatives, as they can be recovered, reclaimed, and reused across multiple applications, maximizing resource efficiency and minimizing waste.

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Chemours has opened its new Chemours Battery Innovation Center (CBIC) at the Chemours Discovery Hub in Newark, Delaware. This multi-million-dollar facility is designed to support the testing and scaling of next-generation battery technologies for hybrid and electric vehicles (EVs). The CBIC aims to enable more sustainable, cost-effective, energy-efficient, and high-performing batteries.

The center will leverage Chemours' expertise to drive innovation in partnership with customers, focusing on scaling production of more sustainable, high-performance lithium-ion batteries. It features state-of-the-art equipment and data analytics capabilities for predictive modeling to help EV manufacturers adopt novel battery manufacturing technology.

This investment aligns with Chemours' commitment to advancing the clean energy transition and accelerating the electric future through the application of advanced chemistry and material science knowledge.

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Amprius Technologies (NYSE: AMPX), a leader in next-generation lithium-ion batteries, has appointed Tony Satterthwaite as an independent director to its Board of Directors, effective August 13, 2024. Satterthwaite, a transportation industry veteran with over 30 years of global power generation experience, will also join the Board's Compensation Committee. He brings valuable expertise in building brands and addressing customer needs across power generation, EV, and broader transportation markets.

Satterthwaite is currently a Senior Vice President at Cummins, Inc. and serves on the boards of IDEX , The Chemours Company, and the National Association of Manufacturers. This appointment follows his election to Amprius' Advisory Council in September 2023. Concurrently, Mary Gustanski has stepped down from the Amprius Board, effective August 12, 2024. The board will maintain seven directors, with six being independent.

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Chemours (NYSE: CC) has opened the Chemours Battery Innovation Center (CBIC) at its Discovery Hub in Newark, Delaware. This multi-million-dollar facility is designed to support the testing and scaling of next-generation battery technologies for hybrid and electric vehicles (EVs). The CBIC aims to enable more sustainable, cost-effective, and high-performing batteries.

The center leverages Chemours' expertise to drive innovation in partnership with customers, focusing on scaling production of more sustainable, high-performance lithium-ion batteries (LiBs). It features state-of-the-art equipment and data analytics capabilities for predictive modeling, helping EV manufacturers adopt novel battery manufacturing technology.

Chemours' Teflon™ fluoropolymer binders are highlighted as vital in developing solvent-free battery electrode manufacturing, which could lead to more cost-effective and energy-efficient vehicles.

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FAQ

What is the current stock price of The Chemours Company (CC)?

The current stock price of The Chemours Company (CC) is $17.54 as of December 23, 2024.

What is the market cap of The Chemours Company (CC)?

The market cap of The Chemours Company (CC) is approximately 2.6B.

What does The Chemours Company specialize in?

Chemours specializes in Titanium Technologies, Fluoroproducts, and Chemical Solutions, providing customized chemical solutions for various industries.

What are some of Chemours' notable products?

Notable products include Ti-Pure™ for paint formulations, Opteon™ YF refrigerants for automotive air conditioning, and Teflon EcoElite™ fabric treatment.

How does Chemours contribute to sustainability?

Chemours contributes to sustainability through environmentally friendly products like Opteon™ YF refrigerants and Teflon EcoElite™, as well as projects aimed at reducing hydrogen costs and energy use in data centers.

What is Ti-Pure™ technology?

Ti-Pure™ technology enables superior paint formulations that cover more area with less paint and effort, enhancing efficiency and performance.

How does Chemours support the hydrogen economy?

Chemours is a leading supplier of ionomers and membranes for PEM electrolysis and engages in initiatives like the U.S. DOE Regional Clean Hydrogen Hub to advance clean energy.

What is the significance of Chemours' two-phase immersion cooling (2-PIC) technology?

2-PIC technology drastically reduces energy and water use in data centers, promoting efficiency and sustainability.

Where does Chemours generate most of its revenue?

Chemours generates the majority of its revenue from its Titanium Technologies segment and derives significant revenue from North America.

What recent events has Chemours participated in?

Chemours has actively participated in CERAWeek, engaging in discussions about energy transition, hydrogen economy, and data center efficiency.

What are Chemours' core business segments?

Chemours' core business segments are Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials.

What makes Chemours a leader in the chemical industry?

Chemours' innovative approach to chemistry, commitment to sustainability, and transformative product offerings make it a leader in the chemical industry.

The Chemours Company

NYSE:CC

CC Rankings

CC Stock Data

2.60B
148.31M
0.72%
82.93%
4.87%
Specialty Chemicals
Chemicals & Allied Products
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United States of America
WILMINGTON