WILMINGTON, Del., July 16, 2019 /PRNewswire/ -- The Chemours Company (Chemours) (NYSE: CC), a global chemistry company with leading market positions in fluoroproducts, titanium technologies, and chemical solutions, announced today that Axima Refrigeration France, a company of ENGIE Axima, a leading contractor in HVAC, refrigeration and fire protection, and headquartered in Paris, has chosen to partner with Chemours to evaluate the use and future adoption of Opteon™ XL low global warming potential (GWP) hydrofluoroolefin (HFO) refrigerants in commercial refrigeration before the next European F-Gas HFC cap and phasedown in 2021. As a first step towards the reduction of CO2 quota, Axima Refrigeration France has already adopted Opteon™ XP40 (R-449A) for retrofitting existing R-404A systems.
The collaboration between Chemours and Axima Refrigeration France around the future adoption of Opteon™ XL refrigerant aims at providing the commercial refrigeration market with long-term solutions under the F-Gas regulation that have a low environmental impact while ensuring performance, safety, reliability, and cost-efficiency. Both companies are committed to jointly investigate the use of A2L refrigerants in commercial refrigeration and support the transition by performing trials and developing case studies, as well as best practices they will be jointly delivering through training.
The recent adoption of Opteon™ XP40 (R-449A) by Axima Refrigeration France is the first step towards this transition and enables the company to ensure its customers business continuity. Opteon™ XP40 (A1 class refrigerant) is currently the refrigerant of choice among leading supermarkets, retailers, contractors, distributors and end-users in the EU for retrofit, delivering improved performance and energy efficiency with a more sustainable environmental footprint, and offering over 65% reduction in GWP compared to R-404A.
"Our two companies share the same objective to help the commercial refrigeration market prepare for the 2021 HFC phasedown that will reduce the available CO2 quota by 55%," says Diego Boeri, vice-president, Chemours Fluorochemicals. "Axima's strategy to select refrigerants below 1500 GWP such as Opteon™ XP40 for retrofits, and below 150 GWP such as Opteon™ XL for new equipment, demonstrates the key role that Opteon™ plays today and in the future to meet the needs of the commercial refrigeration sector," he added.
"Axima Refrigeration is engaged for over 20 years now in developing innovative and more sustainable refrigeration systems to comply with its refrigerant policy, and its societal and environmental responsibilities," says Laurent Meykuchel, CEO, Axima Refrigeration France. "With our ILICO2 program promoting the use of energy efficient refrigerants with GWP Gases less than 150 like Opteon™ XL, Axima refrigeration fully aligns with the global strategy of Engie that is to drive the market towards a Zero Carbon Transition."
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.
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, 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, business plans, prospects, targets, goals and commitments, capital investments and projects, plans for dividends or share repurchases, sufficiency or longevity of intellectual property protection, cost 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, and our outlook for net sales, Adjusted EBITDA, Adjusted EPS, Free Cash Flow, Effective Tax Rate, and Return on Invested Capital (ROIC), 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. These statements are not guarantees of future performance. Forward-looking statements also involve risks and uncertainties that 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 U.S. Securities and Exchange Commission, including in 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.
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