WILMINGTON, Del., December 7, 2015 – The Chemours Company (“Chemours”) (NYSE: CC), a global chemical company with leading market positions in titanium technologies, fluoroproducts and chemical solutions, announced today that it is seeing strong acceleration in adoption of Opteon™ XP40 (R-449A) in supermarket and other commercial refrigeration systems.
Opteon™ XP40 is the Chemours flagship low Global Warming Potential (GWP) replacement for R-404A refrigerant. It also provides an excellent direct replacement solution to supermarkets looking for a more sustainable R-22 replacement. Based on current orders and customer product testing, XP40 is on pace to be used in more than 1,000 supermarket systems worldwide by the end of next year.
The growth of Opteon™ XP40 contributes to the estimate Chemours shared in October at the 2015 White House Hydrofluorocarbon Roundtable, that Opteon™ low GWP products will eliminate 300 million CO2 equivalent tons globally by 2025.
Opteon™ XP40 has been approved by major compressor manufacturers and adopted by supermarkets broadly in Europe. It is gaining traction in other regions, including North America and Australia, where pressures on HFCs are mounting. Shortly after its 2014 launch in Europe, Dutch retailer Ahold converted close to 200 of its supermarkets in the Netherlands to Opteon™ XP40, with an estimated reduction of more than 11,000 tons of CO2 every year.
“Customers continue to tell us that they prefer our Opteon™ refrigerants to replace high GWP HFCs such as R-404A because they are direct replacements offering easy and low cost conversion,” said Diego Boeri, global business director, Chemours Fluoroproducts. “With our Opteon™ XP40 refrigerant, customers are seeing improved performance including energy efficiency increases of up to 12 percent as they transition away from their HFC predecessors. This allows equipment owners to reduce their GWP footprint and also to help achieve significant energy savings for each system for which Opteon™ XP40 is adopted.”
The Opteon™ portfolio of fluorochemicals from Chemours represents a breakthrough line of low GWP solutions. They were developed to help meet increasingly stringent global regulations while often maintaining or improving performance compared to incumbent products. Chemours has invested millions of dollars to bring these new products to market and will continue to invest as the need for low GWP solutions grows throughout the world.
Opteon™ XP40 (R-449A) is a nonflammable, low GWP HFO blend with a GWP of 1282 (67 percent reduction over R-404A) and is a close performance match to R-404A and R-507. Lab and field performance testing has demonstrated up to 12 percent energy efficiency gains versus R-404A. XP40 is an ideal solution for retrofit and new systems and is quickly becoming the industry choice to replace 404A and R-22 for supermarket and many other commercial refrigeration systems.
To address the growing need for Opteon™ products, Chemours has significantly increased its capacity of HFO-1234yf. As the world’s capacity leader for HFO-1234yf, Chemours is uniquely positioned to support its customer’s needs of low-GWP products for commercial refrigeration, as well as other applications including mobile air conditioning, foam expansion agents, specialty fluids and propellants.
As the leading industry supplier of more environmentally sustainable refrigerants, foams and aerosol propellants, Chemours is consistently investing in the development of new products to help meet the growing demand throughout the world. The company and its suppliers will continue to evaluate opportunities to bring online additional capacity of these more sustainable, high-performance products that serve a wide range of applications.
For more information, visit us at opteon.com.
About The Chemours Company
The Chemours Company (NYSE: CC) helps create a colorful, capable and cleaner world through the power of chemistry. Chemours 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 oil refining operations and general industrial manufacturing. Our flagship products include prominent brands such as Teflon™, Ti-Pure™, Krytox™, Viton™, Opteon™ and Nafion™. Chemours has approximately 8,400 employees across 36 manufacturing sites serving more than 5,000 customers in North America, Latin America, Asia-Pacific and Europe. Chemours is headquartered in Wilmington, Delaware and is listed on the NYSE under the symbol CC. For more, information please visit chemours.com or follow Chemours on Twitter at @chemours.
This press release contains forward-looking statements, which often may be identified by their use of words like "plans," "expects," "will," "believes," "intends," "estimates," "anticipates" or other words of similar meaning. These forward-looking statements address, among other things, our anticipated future operating and financial performance, business plans and prospects, transformation plans, resolution of environmental liabilities, litigation and other contingencies, plans to increase profitability, our ability to pay or the amount of any dividend, and target leverage 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 not guarantees of future performance and are based on certain assumptions and expectations of future events which may not be realized. The matters discussed in these forward-looking statements also are subject to risks, uncertainties and other factors that could cause actual results to differ materially from those projected, anticipated or implied in the forward-looking statements as further described in the "Risk Factors" section of the information statement contained in the registration statement on Form 10 and other filings made by Chemours with the Securities and Exchange Commission. Chemours undertakes no duty to update any forward-looking statements.
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Global Marketing Communications Consultant