Senate ratification elevates U.S. commitment to the health of the planet and establishes strong foundations for competitive advantage across multiple American businesses and industries
WILMINGTON, Del.–(BUSINESS WIRE)–$CC–The Chemours Company (“Chemours”) (NYSE: CC), a global chemistry company with leading market positions in Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials, commends the U.S. Senate for ratifying the Kigali Amendment to the Montreal Protocol. The U.S. joins approximately 140 other parties that have joined the international agreement to decrease the production and consumption of hydrofluorocarbons (HFCs) by more than 80% over the next 30 years.
Global implementation of the HFC phasedown called for by the American Innovation & Manufacturing (AIM) Act and the Kigali Amendment would address a contributor to climate change, avoiding up to 0.5 degrees Celsius in temperature increases by 2100. In addition, the U.S. ratification of the Kigali Amendment will extend the benefits of the AIM Act, which Chemours has endorsed, further advancing sustainability initiatives as well as providing competitive advantages for U.S. companies and products in the global marketplace.
“The U.S. Senate’s ratification of the Kigali Amendment is another significant step forward for our country, our planet, and companies such as Chemours that have long been committed to providing the leadership and innovation necessary to allow society to operate in the most healthy, comfortable, and environmentally responsible way possible,” said Alisha Bellezza, President, Thermal & Specialized Solutions at Chemours. “From driving global sustainability goals forward, to empowering U.S. employment, manufacturing, and trade that will support a vibrant economy, this ratification offers advantages on many levels that are integral to the refrigeration, air conditioning, foam blowing agent, and other industries. Chemours is dedicated to helping the industries and communities we serve navigate regulatory and market changes in ways that best support their businesses and lives.”
Chemours has been consistent in its support of the orderly global phasedown of HFCs, which delivers environmental and economic benefits as nations continue to take important steps to address climate change. To support its customers and the planet, Chemours has invested over one billion dollars in its Opteon™ branded portfolio of low global warming potential (GWP) hydrofluoroolefin (HFO) and HFO-blend thermal management technology.
The company has invested more than one billion dollars in product innovation, manufacturing assets, and downstream product and application development enabling Chemours’ customers and value chain partners to successfully transition to more sustainable solutions in their respective applications. Most recently, Chemours announced a new $80 million capacity expansion project at its facility in Texas to support customers’ growth and a sustainable future. The investment, along with on-going de-bottlenecking projects, will further increase site production capacity of Opteon™ YF (HFO-1234yf) by approximately 40%.
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 include 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.
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