WILMINGTON, Del., Sept. 27, 2016 /PRNewswire/ -- The Chemours Company (Chemours) (NYSE: CC), a global chemistry company with leading market positions in titanium technologies, fluoroproducts and chemical solutions, announced today that the Dutch retailing group Ahold has successfully completed its plan to retrofit over 175 supermarkets across the Netherlands to Opteon™ XP40. This new low global warming potential (GWP) refrigerant from Chemours helped Ahold to reduce its CO2 emissions by over 57,000 tons per year without increasing their abatement cost, defined as the amount which has to be invested to save one ton of CO2.
Ahold began the project in September of 2014 as part of their self-imposed program to dramatically cut their CO2 emissions by 20 percent relative to 2008 levels by 2015. The decision to transition their refrigeration systems to Opteon™ XP40 was made after an initial trial in which the new refrigerant was shown to provide a distinctly higher energy efficiency than the previously used R-407F and R-507A.
Ahold and their consultants, P.W. Vlaskamp B.V. Refrigeration Consultancy, Dordrecht, recently ran a series of tests to determine the effectiveness of the retrofit to Opteon™ XP40. The results showed that retrofitting their refrigeration systems to Opteon™ XP40 provided an eight percent boost in energy efficiency, which helped contribute to the 57,000 ton reduction in emissions. It was also determined that due to the lack of abatement costs, the entire capital expenditure of the retrofit would pay for itself in under five years, with further financial gains being made as the systems continue to run.
"To see these results has completely validated our decision to retrofit to Opteon™ XP40," said M.M.A. de Rooij from Ahold. "We knew that XP40 would provide the environmental benefits as a low GWP refrigerant, but the cost savings and return on investment made it so that we could meet the increasing regulations while actually improving the performance of our refrigeration systems."
"The results of the retrofit show that Opteon™ XP40 is the optimal low GWP replacement for commercial refrigeration systems," said Diego Boeri, vice president Chemours Fluorochemicals. "We appreciate the opportunity to collaborate with Ahold on this project and we continue to see many other major supermarkets following their lead."
Opteon™ XP40 (R-449A), the Chemours flagship non-flammable (A1) replacement for R-404A refrigerant, is approved by major equipment compressor manufacturers and has already seen widespread global adoption since commercialization in 2014. XP40 provides a 65% reduction in GWP over R-404A, while improving R-404A system energy efficiency up to 12%. As a result of XP40's strong performance in the field, and based on current orders and customer product testing, Chemours recently announced that XP40 is on pace to be used in over 1,000 supermarket and commercial refrigeration systems worldwide by the end of 2016.
The Opteon™ portfolio of refrigerants from Chemours represents a breakthrough line of low GWP solutions. They were developed to help meet increasing global HFC regulations while 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 in new products and additional capacity as the need for low GWP solutions grows throughout the world.
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 8,000 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