WOODCLIFF LAKE, N.J., Oct. 05, 2023 (GLOBE NEWSWIRE) — Hudson Technologies, Inc. (NASDAQ: HDSN), a leading provider of innovative and sustainable refrigerant products and services to the Heating, Ventilation, Air Conditioning, and Refrigeration industry – and one of the nation’s largest refrigerant reclaimers – today announced that the Company has joined the Cool Coalition, a global multi-stakeholder network that connects a wide range of key participants from government, cities, international organizations, businesses, finance, academia, and civil society groups to facilitate knowledge exchange, advocacy and joint action towards a rapid global transition to efficient and climate-friendly cooling.
The Cool Coalition was assembled by the United Nations Environment Programme (UNEP) with the belief that a unified effort of governments, cities, businesses, and civil society that share the objective of advancing efficient, climate-friendly cooling will be more effective in bringing about change than any of us acting alone. The organization has over 100 partners including 23 countries, and works around three key pillars of advocacy, action and knowledge exchange under the recognition that ensuring the transition to efficient, climate-friendly cooling for all is fundamental for climate action and sustainable development. The Cool Coalition promotes a cross-sectoral approach to meet the cooling needs of both industrialized and developing countries through urban form, better building design, energy efficiency, renewables, and thermal storage as well as phasing down HFCs.
According to the Cool Coalition, “Around 30 percent of the world’s population is exposed to life-threatening temperatures for at least 20 days a year, and heat waves already lead to 12,000 deaths worldwide. These numbers will increase as the planet warms. Lack of cooling kills, but so does providing inefficient cooling and cooling that heightens global warming. Cool Coalition members are collaborating on science, policy, finance, and technology to meet growing demands for cooling comprehensively, all aimed at raising climate ambition in the context of the Sustainable Development Goals while complementing the global goals of the Kigali Amendment to the Montreal Protocol and the Paris Climate Agreement.” The organization’s mission also aligns to promote the HFC reduction goals set by the United States via the passage of the American Innovation and Manufacturing Act.
Brian F. Coleman, President and Chief Executive Officer of Hudson Technologies, commented, “Hudson’s commitment to supporting the circular economy for refrigerants and environmental stewardship is a fundamental element of our operations. Joining the Cool Coalition is a natural fit, complementing our goal to accelerate the global transition to efficient and climate-friendly cooling alternatives. Hudson has proven success providing environmentally sustainable solutions for all cooling needs — from the initial sale of refrigerant through recovery, reclamation, and reuse as well as through our portfolio of servicing options which help promote peak operating performance of equipment through energy efficiency and emergency HVAC system repair, as well as refrigerant end-of-life management and carbon credit development. We look forward to working with the members of the Cool Coalition to advance efficient, effective and sustainable cooling practices and products to ease and accelerate the transition to greener cooling systems and refrigerants.”
About Hudson Technologies
Hudson Technologies, Inc. (the “Company”) is a leading provider of innovative and sustainable refrigerant products and services to the Heating, Ventilation, Air Conditioning, and Refrigeration industry. For nearly three decades, we have demonstrated our commitment to our customers and the environment by becoming one of the first in the United States and largest refrigerant reclaimers, through multimillion dollar investments in the plants and advanced separation technology required to recover a wide variety of refrigerants and restoring them to Air-Conditioning, Heating, and Refrigeration Institute standard for reuse as certified EMERALD Refrigerants™. The Company’s products and services are primarily used in commercial air conditioning, industrial processing and refrigeration systems, and include refrigerant and industrial gas sales, refrigerant management services consisting primarily of reclamation of refrigerants and RefrigerantSide® Services performed at a customer’s site, consisting of system decontamination to remove moisture, oils and other contaminants. The Company’s SmartEnergy OPS® service is a web-based real time continuous monitoring service applicable to a facility’s refrigeration system and other energy systems. The Company’s Chiller Chemistry® and Chill Smart® services are also predictive and diagnostic service offerings. As a component of the Company’s products and services, the Company also generates carbon offset projects.
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Statements contained herein which are not historical facts constitute forward-looking statements. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, but are not limited to, changes in the laws and regulations affecting the industry, changes in the demand and price for refrigerants (including unfavorable market conditions adversely affecting the demand for, and the price of, refrigerants), the Company’s ability to source refrigerants, regulatory and economic factors, seasonality, competition, litigation, the nature of supplier or customer arrangements that become available to the Company in the future, adverse weather conditions, possible technological obsolescence of existing products and services, possible reduction in the carrying value of long-lived assets, estimates of the useful life of its assets, potential environmental liability, customer concentration, the ability to obtain financing, the ability to meet financial covenants under existing credit facilities, any delays or interruptions in bringing products and services to market, the timely availability of any requisite permits and authorizations from governmental entities and third parties as well as factors relating to doing business outside the United States, including changes in the laws, regulations, policies, and political, financial and economic conditions, including inflation, interest and currency exchange rates, of countries in which the Company may seek to conduct business, the Company’s ability to successfully integrate any assets it acquires from third parties into its operations, the impact of the current COVID-19 pandemic, and other risks detailed in the Company’s 10-K for the year ended December 31, 2022 and other subsequent filings with the Securities and Exchange Commission. The words “believe”, “expect”, “anticipate”, “may”, “plan”, “should” and similar expressions identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made.
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