The Chemours Company (Chemours), a global chemistry company with leading market positions in Titanium Technologies, Fluoroproducts and Chemical Solutions, applauds the 116th Congress in its recent passing of the bipartisan American Innovation and Manufacturing Act (AIM Act), which was signed into law by President Donald Trump as part of the year-end Omnibus package on December 27th. Once enacted, the AIM Act is expected to deliver $38 billion in economic benefit to the US by 2027, create new jobs, and provide an orderly nation-wide phase down of hydrofluorocarbons (HFCs) in use today across multiple industries.
In support of the phase down, Chemours has developed and commercialized a portfolio of low global warming potential (GWP) solutions leveraging hydrofluoroolefin (HFO) technology. These Opteon™ branded products, in addition to existing low GWP HFCs, will enable our customers and value chain partners in refrigeration, air conditioning, foam blowing agents, and other segments to transition to more sustainable solutions in their respective applications.
“Chemours has been consistent in our support of orderly HFC phase down actions globally. We are pleased that Congress, with bi-partisan support in both the Senate and the House, believed the provisions of the AIM Act can deliver environmental and economic benefits as the United States continues to take important steps to address climate change. We look forward to working with the Biden Administration in 2021 to bring the AIM Act to life and to working with policy makers on both sides of the aisle to continue to advance and apply American innovation, manufacturing and leadership to help create a cleaner world,” said Mark Vergnano, President & CEO.
The Opteon™ portfolio has been developed to meet global regulations while maintaining or improving performance compared to the products they replace and reducing the carbon footprint of the specific application. By the year 2025, Chemours estimates that its low GWP products will eliminate an estimated 325 million tons of carbon dioxide equivalents on a global basis. This reduction would be equivalent to 69 million passenger cars being driven in one year, or the annual energy use for 37 million homes.
“The initial stages of transition away from high GWP HFCs to our low GWP solutions are already underway in some parts of the world and in pockets of the US due to state-led activity. Now with a consistent federal framework, our customers will be able to plan transitions with confidence, and our commercial and operations teams are ready to support this ramp-up of activity,” said Alisha Bellezza, Vice President of Chemours Fluorochemicals.
Chemours has invested hundreds of millions of dollars in research and development, manufacturing assets, and downstream product and application development with low GWP, HFO technology, and remains committed to the ongoing development needs of customers through the HFC phase down in the US and globally.