CORRECTING and REPLACING To Meet Growing Customer Needs for Thermal Management Solutions, Chemours Announces at the 2023 AHR Expo Its Intention to Bring Next Generation Refrigerants to Market for Qualification in 2025

As a leader in thermal management innovation for more than 90 years, Chemours provides a roadmap for meeting today’s needs and tomorrow’s opportunities with new product development.

Second paragraph, first sentence of release dated February 6, 2023, should read: ...classified as none or mildly-flammable refrigerants. (instead of ...classified as low-flammability (A2L) refrigerants.)

The updated release reads:

TO MEET GROWING CUSTOMER NEEDS FOR THERMAL MANAGEMENT SOLUTIONS, CHEMOURS ANNOUNCES AT THE 2023 AHR EXPO ITS INTENTION TO BRING NEXT GENERATION REFRIGERANTS TO MARKET FOR QUALIFICATION IN 2025

As a leader in thermal management innovation for more than 90 years, Chemours provides a roadmap for meeting today’s needs and tomorrow’s opportunities with new product development.

The Chemours Company (“Chemours”) (NYSE: CC), a global chemistry company with leading market positions in Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials, today announced its roadmap for next-generation thermal management solutions at the 2023 AHR Expo. This three-horizon plan includes commercial product adoption, new blend development collaboration, and next-generation product development—all of which are currently underway.

Horizon one, commercial product adoption, includes continuing the company’s commitment to supporting the adoption of its current product offerings including its Opteon™ XL and XP series of zero ozone depletion potential (ODP), low global warming potential (GWP) refrigerants, which offer the optimal balance of performance, sustainability, cost, and are classified as none or mildly-flammable refrigerants. Horizon two is focused on collaborations with customers to identify the most promising development blends with lower-GWPs to meet the coming phase downs and to support Chemours’ already robust portfolio of ultra-low GWP products such as Opteon™ YF.

Building upon the performance, safety, and sustainability profile of its Opteon™ portfolio, horizon three is the investment in the development of next-generation thermal management solutions. Chemours expects this novel fluorinated technology to balance critical properties from GWP to flammability to degradation profile and performance to meet customer needs and the evolving regulatory landscape. It is the company’s intention to have these innovative and sustainable solutions available for customer qualification in 2025.

“We are committed to fluorine chemistry and its power to enable world-changing technologies, and we believe that continued innovation will allow us to meet our customers’ need to create highly-efficient systems that consume less energy,” said Alisha Bellezza, President of Thermal & Specialized Solutions at Chemours. “We have always innovated in this space, first with Freon™ and more recently, we invented Opteon™ YF, a game-changing refrigerant solution that accelerates global sustainability initiatives. As we move forward, I am confident that we will continue our track record of developing novel solutions that strike the most advantageous balance of performance and environmental sustainability.”

Chemours’ deep knowledge of chemistry and technical capabilities allow the company to work hand in hand with customers to develop solutions to their toughest technical problems and enable the creation of products that meet market demand for more sustainable solutions.

Chemours will spotlight its Opteon™ portfolio at the 2023 AHR Expo at booth C-6425 at the Expo in Atlanta, Georgia, from Feb. 6-8, 2023.

About The Chemours Company

The Chemours Company (NYSE: CC) is a global leader in Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials 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, and oil and gas. Our flagship products are sold under prominent brands such as Ti-Pure™, Opteon™, Freon™, Teflon™, Viton™, Nafion™, and Krytox™. The company has approximately 6,400 employees and 29 manufacturing sites serving approximately 3,200 customers in approximately 120 countries. Chemours is headquartered in Wilmington, Delaware and is listed on the NYSE under the symbol CC.

For more information, we invite you to visit chemours.com or follow us on Twitter @Chemours or LinkedIn.

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 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 still being determined and to date has included significant volatility in financial and commodity markets and a severe disruption in economic activity. The public and private sector response has led to travel restrictions, temporary business closures, quarantines, stock market volatility, and interruptions in consumer and commercial activity globally. Matters outside our control, including general economic conditions, have affected or may affect our business and operations and may or may continue to hinder our ability to provide goods and services to customers, cause disruptions in our supply chains such as through strikes, labor disruptions or other events, adversely affect our business partners, significantly reduce the demand for our products, adversely affect the health and welfare of our personnel 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, 2022 and in our Annual Report on Form 10-K for the year ended December 31, 2022. Chemours assumes no obligation to revise or update any forward-looking statement for any reason, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230306005004/en/