WILMINGTON, Del., Nov. 10, 2021 /PRNewswire/ -- The Chemours Company ("Chemours") (NYSE: CC), a global chemistry company with leading market positions in Titanium Technologies, Thermal & Specialized Solutions, Advanced Performance Materials, and Chemical Solutions, today announced a new production line dedicated to the expansion of its non-ozone depleting, low global warming potential (GWP) hydrofluoroolefin (HFO) platform – Opteon™ 1150, chemically referred to as HFO-1336mzzE. The new production line in the plant located in El Dorado, Arkansas will open before the January 1, 2022 initial 10% phase down of CO2 equivalents as outlined by the American Innovation and Manufacturing (AIM) Act in the United States. With the startup of the line, Chemours is now accepting orders for Opteon™ 1150 from customers globally.
"We are excited to begin production of Opteon™ 1150 and bring our customers another high-performing HFO solution that empowers them to make their products more environmentally sustainable," said Alisha Bellezza, president of Thermal & Specialized Solutions at Chemours. "This technology will be critical across multiple industries to comply with global regulations to transition to low GWP technology while maintaining the high performance our customers are accustomed to from Chemours. The addition of Opteon™ 1150 also referred to as HFO-1336mzzE, into our Foam Blowing Agents portfolio gives our customers more options and more control of their formulations."
Opteon™ 1150 joins Opteon™ 1100 in the Chemours portfolio of non-flammable foam blowing agents made with HFO technology offering high performance in foam blowing applications—as well as zero ozone depletion potential (ODP), and low GWP. This most recent innovation by Chemours demonstrates its sustainability commitment to companies, industries, and communities by providing environmentally sustainable and energy efficient products to meet the changing regulatory landscape globally. When used as a gaseous blowing agent in spray foam, its low boiling point is an ideal blending component that allows the formulator to have more precise application control and superior aged R-values, higher yields, and a wider application window.
With the unique physical properties of HFO-1336mzzE, Chemours expects that this material will contribute to solving some of the industry's most difficult challenges in stationary refrigeration and heat pump applications, propellants in aerosol and fire protection products, and as replacements in dielectric insulating and etchant gas applications. These applications require new and innovative solutions that are more sustainable to the environment.
Additional product information is available at opteon.com.
About The Chemours Company
The Chemours Company (Chemours or the Company) (NYSE: CC) is a global leader in Titanium Technologies, Thermal & Specialized Solutions, Advanced Performance Materials, and Chemical Solutions 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, mining and oil and gas. Our flagship products include prominent brands such as Ti-Pure™, Opteon™, Freon™, Nafion™, Krytox™, Teflon™, and Viton™. In 2019, Chemours was named to Newsweek's list of America's Most Responsible Companies. The company has approximately 6,500 employees and 30 manufacturing sites serving approximately 3,300 customers in approximately 120 countries. Chemours is headquartered in Wilmington, Delaware and is listed on the NYSE under the symbol CC.
Forward Looking Statements
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. These statements are not guarantees of future performance. Forward-looking statements also involve risks and uncertainties that are beyond Chemours' control. In addition, the current COVID-19 pandemic has significantly impacted the national and global economy and commodity and financial markets, which has had and we expect will continue to have a negative impact on our financial results. The full extent and impact of the pandemic is unknown and to date has included extreme volatility in financial and commodity markets, a significant slowdown in economic activity, and increased predictions of a global recession. The public and private sector response has led to significant restrictions on travel, temporary business closures, quarantines, stock market volatility, and a general reduction in consumer and commercial activity globally. Matters outside our control have affected our business and operations and may or may continue to limit travel of employees to our business units domestically and internationally, adversely affect the health and welfare of our personnel, significantly reduce the demand for our products, hinder our ability to provide goods and services to customers, cause disruptions in our supply chains, adversely affect our business partners 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 September 30, 2021 and in our Annual Report on Form 10-K for the year ended December 31, 2020. Chemours assumes no obligation to revise or update any forward-looking statement for any reason, except as required by law.
SVP, Chief Development Officer
Media Relations and Financial Communications Manager
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SOURCE The Chemours Company