WILMINGTON, Del., Oct. 17, 2016 /PRNewswire/ -- The Chemours Company (Chemours) (NYSE: CC), a global chemistry company with leading market positions in titanium technologies, fluoroproducts and chemical solutions, commends the Parties to the Montreal Protocol for the critical United Nations agreement to address climate change potential. Paul Kirsch, president, Chemours Fluoroproducts, said the following today regarding the agreement.
"Chemours congratulates the United Nations for its agreement to amend the Montreal Protocol to address high global warming potential hydrofluorocarbons (HFCs) and wishes to recognize the tireless efforts of the United States Delegation consisting of the US EPA and US State Department.
"The Montreal Protocol has been hailed as the world's most effective climate treaty by reducing CO2 equivalent emissions nearly twenty times more than the initial commitment period of the Kyoto Protocol.
"Chemours recognizes the need for concerted action to avoid significant growth in greenhouse gas emissions, including those associated with the use of HFCs in different applications. The Protocol provides a proven, consistent, and well understood framework that allows the global community to greatly reduce greenhouse gas emissions while ensuring that consumers and businesses experience a smooth transition to newer, more sustainable products.
"Many of the governments of the world, including the European Union, Canada, Japan, South Korea, Australia, and United States, have already started efforts to reduce the use of HFCs, which have high global warming potential. Coordinating these efforts will provide a much more effective model. Such efforts are increasingly possible due to the availability of viable, cost-effective options that help deliver significant reductions in direct and indirect greenhouse gases through superior energy efficiency.
"That is why Chemours has already commercialized our Opteon™ product line for use in applications such as refrigeration, air conditioning, foam insulation and waste heat recovery. It is critical that all stakeholders work to meet sustainability goals while ensuring cost-effective solutions and without limiting global trade.
"Chemours has invested hundreds of millions of dollars in the development of hydrofluoroolefin (HFO)-based alternatives and blends with low global warming potential. Such alternatives can replace products with high-global warming potential, while providing the same critical benefits to customers and consumers.
"Automakers globally are rapidly converting to use of HFO-1234yf (Opteon™ YF) for new vehicle air conditioning systems. Chemours expects at least 24 million vehicles to be on the road using HFO-1234yf by the end of 2016, with an estimated 50 million vehicles using it by the end of 2017.
"Air conditioning and refrigeration equipment manufacturers are developing equipment that can use the new alternatives and companies are reformulating foams and other products with the new HFO-based alternatives. In addition to lowering the potential global warming impact of products and applications, these new solutions from Chemours offer additional benefits such as increased energy efficiency.
"As Chemours announced last month, we estimate that use of our HFO-based solutions will achieve a reduction of 325 million CO2 ton equivalents by 2025. Our Opteon™ product line is the key to this reduction, and will be instrumental to enabling further reductions that would be achieved through a Montreal Protocol amendment."
For More Information Visit 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 8,000 employees across 35 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 our filings with the Securities and Exchange Commission, including our annual report on Form 10-K for the fiscal year ended December 31, 2015. Chemours undertakes no duty to update any forward-looking statements.
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SOURCE The Chemours Company