Hudson Technologies Announces Strategic Alliance with Lennox International Inc.
Hudson Technologies, Inc. (NASDAQ: HDSN) has partnered with Lennox International Inc. (NYSE: LII) to supply certified reclaimed refrigerants, aligning efforts to meet CARB Regulation Order requirements for AC equipment manufacturers. This exclusive supply agreement emphasizes sustainability and compliance with environmental regulations.
Brian F. Coleman, CEO of Hudson, highlighted the company's commitment to reclaiming refrigerants and reducing greenhouse gas emissions, while Lennox aims to support its customers by using sustainable cooling solutions.
- Hudson Technologies will be the exclusive supplier of certified reclaimed refrigerants to Lennox, expanding its market reach.
- The partnership aligns with sustainability efforts, promoting the recovery and reuse of refrigerants, which may enhance brand reputation.
- None.
WOODCLIFF LAKE, N.J., Aug. 01, 2022 (GLOBE NEWSWIRE) -- Hudson Technologies, Inc. (NASDAQ: HDSN), a leading provider of innovative and sustainable refrigerant products and services to the Heating, Ventilation, Air Conditioning, and Refrigeration industry – and one of the nation’s largest refrigerant reclaimers – and Lennox International Inc. (NYSE: LII), a global leader in energy-efficient climate-control solutions, today announced they have entered into an agreement to align their efforts to meet the CARB Regulation Order for Certified Reclaimed Refrigerant Use Requirements for Manufacturers of AC Equipment. Under the agreement, Hudson will be the exclusive supplier of certified reclaimed refrigerants to Lennox for the aftermarket support of their residential HVAC systems.
Brian F. Coleman, President and Chief Executive Officer of Hudson Technologies, commented, “Hudson continues to lead the way in sustainability, and we are focused on supporting our industry partners in their efforts to ensure compliance with regulations around the use of reclaimed refrigerant and the transition to more environmentally friendly gases. We are pleased to partner with Lennox through this strategic alliance, which illustrates our joint commitment to increasing the recovery, reclamation and reuse of refrigerants, as well as fostering activities which reduce greenhouse gas emissions, create economic incentives for return of used refrigerants and support the circular economy.”
“Driving innovation excellence in our products, services, and operations is at the core of our business strategy and embedded into our processes,” added Eric Zito, Director, Sustainability and Product Lifecycle of Lennox International Inc. “This partnership with Hudson will assist us in supporting the aftermarket refrigerant needs of our customers through the use of reclaimed refrigerant, a practice that aligns with our unwavering commitment to reducing environmental impact.”
About Hudson Technologies
Hudson Technologies, Inc. is a leading provider of innovative and sustainable refrigerant products and services to the Heating Ventilation Air Conditioning and Refrigeration industry. For nearly three decades, we have demonstrated our commitment to our customers and the environment by becoming one of the first in the United States and largest refrigerant reclaimers through multimillion dollar investments in the plants and advanced separation technology required to recover a wide variety of refrigerants and restoring them to Air-Conditioning, Heating, and Refrigeration Institute standard for reuse as certified EMERALD Refrigerants™. The Company's products and services are primarily used in commercial air conditioning, industrial processing and refrigeration systems, and include refrigerant and industrial gas sales, refrigerant management services consisting primarily of reclamation of refrigerants and RefrigerantSide® Services performed at a customer's site, consisting of system decontamination to remove moisture, oils and other contaminants. The Company’s SmartEnergy OPS® service is a web-based real time continuous monitoring service applicable to a facility’s refrigeration systems and other energy systems. The Company’s Chiller Chemistry® and Chill Smart® services are also predictive and diagnostic service offerings. As a component of the Company’s products and services, the Company also generates carbon offset projects.
About Lennox International
Lennox International Inc. (NYSE: LII) is a global leader in energy-efficient climate-control solutions. Dedicated to sustainability and creating comfortable and healthier environments for our residential and commercial customers while reducing their carbon footprint, we lead the field in innovation with our air conditioning, heating, indoor air quality, and refrigeration systems. Lennox International stock is listed on the New York Stock Exchange and traded under the symbol LII. Additional information on Lennox International is available at www.lennoxinternational.com
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
Statements contained herein which are not historical facts constitute forward-looking statements. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, but are not limited to, changes in the laws and regulations affecting the industry, changes in the demand and price for refrigerants (including unfavorable market conditions adversely affecting the demand for, and the price of, refrigerants), the Company's ability to source refrigerants, regulatory and economic factors, seasonality, competition, litigation, the nature of supplier or customer arrangements that become available to the Company in the future, adverse weather conditions, possible technological obsolescence of existing products and services, possible reduction in the carrying value of long-lived assets, estimates of the useful life of its assets, potential environmental liability, customer concentration, the ability to obtain financing, the ability to meet financial covenants under existing credit facilities, any delays or interruptions in bringing products and services to market, the timely availability of any requisite permits and authorizations from governmental entities and third parties as well as factors relating to doing business outside the United States, including changes in the laws, regulations, policies, and political, financial and economic conditions, including inflation, interest and currency exchange rates, of countries in which the Company may seek to conduct business, the Company’s ability to successfully integrate any assets it acquires from third parties into its operations, the impact of the current COVID-19 pandemic, and other risks detailed in the Company's 10-K for the year ended December 31, 2021 and other subsequent filings with the Securities and Exchange Commission. The words "believe", "expect", "anticipate", "may", "plan", "should" and similar expressions identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made.
| Investor Relations Contact: John Nesbett/Jennifer Belodeau IMS Investor Relations (203) 972-9200 jnesbett@institutionalms.com | Company Contact: Brian F. Coleman, President & CEO Hudson Technologies, Inc. (845) 735-6000 bcoleman@hudsontech.com |
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