WILMINGTON, Del.--(BUSINESS WIRE)--May 25, 2023--
The Chemours Company (“Chemours”) (NYSE: CC), a global chemistry company with leading market positions in Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials, today announced a capacity investment in its low global warming potential (GWP) Opteon™ 1100 foam blowing agent and Opteon™ SF33 specialty fluid. The expansion will triple capacity of the ultra-low GWP, hydrofluoroolefin (HFO) solution, enabling customers and value chain partners to meet the escalating demand for sustainable and efficient HFO-1336mzzZ-based fluids.
Chemours has entered into an agreement with Zhejiang Juhua Group, Ltd. to produce the additional volume of HFO-1336mzzZ. Chemours expects startup to begin in late 2025, followed by full-scale production in early 2026.
“Our customers utilize Opteon™ 1100 and Opteon™ SF33 to deliver superior performance in a variety of critical applications. Chemours is excited to meet the growing business needs of our customers with low GWP products that support the health and sustainability of our planet,” said Joseph Martinko, President of Thermal & Specialized Solutions at Chemours. “As consumers and regulators around the globe seek step-change reductions in CO 2 emissions, access to this technology will contribute to achieving both sustainability and performance targets across construction, electronics, appliance, critical cleaning, carrier fluid, and many other applications.”
Chemours offers a portfolio of products based on HFO-1336mzzZ that are more environmentally friendly than non-HFO alternatives. These products offer added benefits of thermal and shelf-life stability, nonflammability, low boiling point, and formulation flexibility. Moreover, the chemical formulation provides foam producers with additional insulation value, more precise application control and a wider application window.
Zhejiang Juhua Group, Ltd. engages in the production and sales of fluorochemical materials, fine fluorochemicals, basic chemicals, fertilizers and pesticides, and other chemical related products.
Additional product information is available at opteon.com.
For more information, we invite you to visit chemours.com or follow us on Twitter @Chemours or LinkedIn.
About The Chemours Company
The Chemours Company (NYSE: CC) is a global leader in Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials 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, and oil and gas. Our flagship products are sold under prominent brands such as Ti-Pure™, Opteon™, Freon™, Teflon™, Viton™, Nafion™, and Krytox™. The company has approximately 6,400 employees and 29 manufacturing sites serving approximately 3,200 customers in approximately 120 countries. Chemours is headquartered in Wilmington, Delaware and is listed on the NYSE under the symbol CC.
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, such as full year guidance relying on models based upon management assumptions regarding future events that are inherently uncertain. These statements are not guarantees of future performance. Forward-looking statements also involve risks and uncertainties that are beyond Chemours' control. Matters outside our control, including general economic conditions and the COVID-19 pandemic, have affected or may affect our business and operations and may or may continue to hinder our ability to provide goods and services to customers, cause disruptions in our supply chains such as through strikes, labor disruptions or other events, adversely affect our business partners, significantly reduce the demand for our products, adversely affect the health and welfare of our personnel 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 March 31, 2023 and in our Annual Report on Form 10-K for the year ended December 31, 2022. Chemours assumes no obligation to revise or update any forward-looking statement for any reason, except as required by law.
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