WILMINGTON, Del., Nov. 17, 2015 /PRNewswire/ -- The Chemours Company ("Chemours") (NYSE: CC), a global chemical company with leading market positions in titanium technologies, fluoroproducts and chemical solutions, announced today that, along with its partner Changshu 3F Zhonghao, it has broken ground on the world's first full-scale production facility for HFO-1336mzz in Changshu, Jiangsu Province, China. This site, expected to begin production mid-year 2017, will provide increased capacity of low global warming potential (GWP) foam expansion agents and refrigerants.
Foam expansion agents based on HFO-1336mzz, sold by Chemours as Formacel™ 1100, offer excellent environmental properties across a variety of applications, including appliances, spray foam and board stock. Formacel™ 1100 offers a range of benefits to help Chemours customers meet their long-term environmental needs. In addition to its zero ozone depletion potential (ODP) and an extremely low global warming potential (GWP) of less than two, this product can further reduce energy consumption and greenhouse gas emissions with better thermal insulation performance than incumbent products. Formacel™ 1100 also offers superior stability compared to other olefin-based blowing agents, and its shelf life of up to 12 months allows customers to use the product with confidence over an extended period.
HFO-1336mzz is a preferred technology for many Opteon™ refrigerants due to its unique attributes of having low GWP, non-flammability, high efficiency and thermal stability. Chemours is actively developing several new refrigerant fluids based on HFO-1336mzz technology for a variety of applications, including traditional chiller systems and the emerging arena of waste heat recovery using technologies such as high temperature heat pumps and organic rankine cycles. These fluids are showing promising results in customer lab and field trials.
"Breaking ground for our new HFO-1336mzz production facility paves the way for Chemours to add still more capacity to our industry-leading supply of products based on HFO technology," said Thierry F.J. Vanlancker, president, Chemours Fluoroproducts. "The Changshu facility shows our continued commitment to meeting the needs of our customers for high performance, environmentally friendly solutions that enable them to meet growing regulatory and sustainability demands."
"HFO technologies represent a clear path towards reducing greenhouse gases while also enhancing performance," added Diego Boeri, global business director Chemours Fluorochemicals. "In many cases our customers tell us they see an increase in their products' efficiency when they use our HFO-based solutions. We are proud to manufacture these breakthrough products and expect to continue to add capacity as our customers increasingly transition to our new low GWP solutions."
As the leading industry supplier of more environmentally sustainable foams, refrigerants and aerosol propellants, Chemours has invested hundreds of millions of dollars to offer customers new products with no ozone depletion and low global warming potential. The company and its suppliers have plans to invest hundreds of millions more in the next five years 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 and Formacel.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.
Forward-Looking Statements 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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