Hudson Technologies Enters Into Licensing Agreement With Chemours
Hudson Technologies, Inc. (NASDAQ: HDSN) has entered into a licensing agreement with The Chemours Company to sell Hudson reclaimed refrigerants under the Freon™ brand name. This agreement allows Hudson to market legacy reclaimed refrigerant products using the Freon™ brand alongside their Emerald Refrigerants™ brand. The partnership aims to promote sustainable refrigerant solutions amid the industry's phase down and phase out of refrigerants.
Hudson Technologies can now market its reclaimed refrigerants under the well-respected Freon™ brand name, enhancing visibility and credibility.
The licensing agreement with The Chemours Company reflects Hudson's commitment to offering high-quality sustainable refrigerant options to customers.
The partnership with Chemours highlights Hudson's leadership in developing sustainable refrigerant products and practices within the industry.
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WOODCLIFF LAKE, N.J., May 06, 2024 (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 – today announced that it has entered into a licensing agreement with The Chemours Company. By the terms of the agreement, Hudson may now sell Hudson reclaimed refrigerants under Freon™ R-11, Freon™ R-12, Freon™ R-123 and Freon™ R-22 and use the Freon™ brand name in its marketing materials related to these products.
Brian F. Coleman, President and Chief Executive Officer of Hudson Technologies commented, “Hudson has enjoyed a longstanding relationship with Chemours and we’re very pleased to have this opportunity to use their well-respected Freon™ brand for the marketing of certain legacy reclaimed refrigerant products in addition to our Emerald Refrigerants™ brand of HFC refrigerants. As our industry navigates the phase down and phase out of refrigerants it is important that our customers are aware of the availability of high-quality reclaimed options. Freon™ is a recognized and respected brand that we believe will bring heightened visibility to our reclaimed products and promote the use of our sustainable refrigerant solutions.”
Doug Westerhoff, Americas Sales Director at Chemours stated, “Chemours and Hudson have been pioneers in developing sustainable refrigerant products and practices. We’re proud to partner with Hudson to deliver reclaimed Freon™ refrigerants to the market and supporting both lifecycle refrigerant management and the long-term transition to next generation products through the AIM Act."
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.
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, and other risks detailed in the Company's 10-K for the year ended December 31, 2022 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: | Company Contact: |
| John Nesbett/Jennifer Belodeau | Brian F. Coleman, President & CEO |
| IMS Investor Relations | Hudson Technologies, Inc. |
| (203) 972-9200 | (845) 735-6000 |
| jnesbett@imsinvestorrelations.com | bcoleman@hudsontech.com |
