WILMINGTON, Del., Dec. 17, 2019 /PRNewswire/ -- The Chemours
Company (Chemours) (NYSE: CC), a global chemistry company with
leading market positions in titanium technologies, fluoroproducts,
and chemical solutions announced today that to support the market
transition driven by the European Union F-Gas regulation to lower
GWP alternatives and prepare for the next quota phasedown in 2021,
the company will be suspending supply of high GWP refrigerants
R-404A (GWP 3922) and R-507A (GWP 3985) in the European Union
as of January 1, 2020.
The F-Gas Regulation (REGULATION (EU) No 517/2014) mandates
specific prohibitions of use, as outlined in Annex III of the
legislation. As of January 1, 2020,
there will be a prohibition of the use of stationary refrigeration
equipment that contains, or whose functioning relies upon, HFCs
with GWP of 2,500 or more (except equipment intended for
applications designed to cool products to temperatures below
-50°C).
In addition, the regulation reduces the amount of HFCs placed on
the market over a 15-year period with the next quota phasedown
taking effect as of January 1,
2021. This can be achieved by transitioning away from
high-GWP refrigerants such as R-404A and R-507A to lower-GWP
refrigerants such as those in the Opteon™ portfolio. Chemours
offers several options for a smooth and effective transition:
Opteon™ XP40 (R-449A), a solution for the retrofit of existing
equipment, and Opteon™ XL40 (R-454A) and XL20 (R-454C), long-term
sustainable solutions designed for new equipment.
Opteon™ XP40 (R-449A), an A1 class refrigerant with a GWP of
1397 by AR4 measurement, is currently the refrigerant of choice
among leading supermarkets, retailers, contractors, distributors
and end-users in the EU for retrofit. It delivers improved
performance and energy efficiency with a more sustainable
environmental footprint and offering over 65% reduction in GWP
compared to R-404A.
Opteon™ XL40 (R-454A) is a low GWP (239), A2L class,
hydrofluoroolefin (HFO)-based refrigerant with the optimal balance
of properties to replace R-404A in positive displacement, direct
expansion low- and medium temperature commercial and industrial
applications.
Opteon™XL20 (R-454C) with a GWP of 148, is a non-ozone
depleting, A2L hydrofluoroolefin (HFO)-based refrigerant offering
similar performance to R-404A, while enabling end-users to achieve
<150 GWP and allowing higher charge sizes than other Class 3
highly flammable alternatives.
Opteon™ low GWP HFO refrigerants are a portfolio of sustainable
and versatile refrigerants that meet the long-term needs of the
refrigeration, air conditioning, heat pump, and chiller markets.
They have been developed to help meet increasingly stringent global
regulations while maintaining or improving performance compared to
the products they replace, as well as encouraging more sustainable
refrigerant choices and equipment designs to reduce the carbon
footprint of the HVACR industry. Specifically, in Europe, the very low GWP Opteon™ XL
refrigerant portfolio supports the market transitions required by
the F-Gas Regulation and enables customers to select their optimal
solution – considering performance, safety, sustainability, and
total cost of ownership.
For more information on Opteon™ refrigerants, please visit
opteon.com.
About The Chemours Company
The Chemours Company
(NYSE: CC) is a global leader in titanium technologies,
fluoroproducts, and chemical solutions, providing its customers
with solutions in a wide range of industries with market-defining
products, application expertise and chemistry-based innovations.
Chemours ingredients are found in plastics and coatings,
refrigeration and air conditioning, mining, and general industrial
manufacturing. Our flagship products include prominent brands such
as Teflon™, Ti-Pure™, Krytox™, Viton™, Opteon™, Freon™ and Nafion™.
Chemours published its first corporate responsibility commitment
report in 2018, which highlights goals aligned with the United
Nations Sustainable Development Goals. The company has
approximately 7,000 employees and 28 manufacturing sites serving
approximately 3,700 customers in over 120 countries. Chemours is
headquartered in Wilmington,
Delaware and is listed on the NYSE under the symbol CC.
For more information, we invite you to
visit chemours.com or follow us on Twitter
@Chemours or LinkedIn.
Forward Looking Statements
This press release
contains forward-looking statements, within the meaning of the safe
harbor provisions of the U.S. Private Securities Litigation Reform
Act of 1995, that 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 any historical or current fact. The words
"believe," "expect," "will," "anticipate," "plan," "estimate,"
"anticipate," "target," "project," and similar expressions, among
others, generally identify "forward-looking statements" which speak
only as of the date the statements were made. These forward-looking
statements may address, among other things, the outcome or
resolution of any pending or future environmental liabilities,
litigation and other legal proceedings or contingencies,
anticipated future operating and financial performance, business
plans and prospects, transformation plans, cost savings targets and
plans to increase profitability, that 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 which may not be accurate or
realized. Forward-looking statements also involve risks and
uncertainties which are beyond Chemours' control. 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 Securities and
Exchange Commission, including our Annual Report on Form 10-K for
the year ended December 31, 2018.
Chemours assumes no obligation to revise or update any
forward-looking statement for any reason, except as required by
law.
CONTACT:
NEWS MEDIA
David Rosen
Executive and Financial Communications Manager
+1.302.773.2711
media@chemours.com
Melanie Della Corte
Marketing Communication Specialist, EMEA
+41 (0) 79 277 34 65
melanie.dellacorte@chemours.com
INVESTORS
Jonathan Lock
VP, Corporate Development and Investor Relations
+1.302.773.2263
investor@chemours.com
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SOURCE The Chemours Company