Wilmington, Delaware –(Business Wire)– The Chemours Company (“Chemours”) (NYSE: CC), a global chemical company with market leadership in titanium technology, thermal and specialty solutions, and advanced performance materials, today announced plans to invest $200 million to increase capacity and provide advanced technology for its industry-leading Nafion™ ion exchange materials to support the hydrogen economy. Accelerating climate ambitions and energy challenges are driving demand for hydrogen and fuel cell technologies. Chemours’ investment will support growing demand for clean hydrogen using water electrolyzers, flow battery energy storage, and converting hydrogen to power future fuel cell vehicles.
“The hydrogen economy is at a critical juncture, driven by government and industry investment and the long-term trend towards carbon neutrality, and investment is needed to support our strategic partners in achieving these ambitious goals. Our Nafion™ membrane technology is at the heart of hydrogen power generation, storage and use,” said Denise Dignam, president of Chemours Advanced Performance Materials.”Building on more than 50 years of experience, this planned new investment will further support the growth of Chemours partners, the overall hydrogen economy, and position Chemours as a major industry player. ”
Investments will be focused on the Nafion™ ion exchange material technology platform, whose chemistry can help generate clean hydrogen from water electrolysis for a hydrogen economy. Nafion™ proton exchange membranes are used in fuel cells to instantly convert hydrogen into electricity, enabling zero-emission fuel cell-powered fleets of trucks, buses, trains and cars. Nafion™ ion exchange materials enable flow batteries to store excess renewable energy and convert it back into electricity, helping to solve the challenges of renewable energy intermittency.
Chemours is committed to leadership in responsible manufacturing, and this investment in capacity will help achieve its goal of transforming the company’s product portfolio into products that contribute to the United Nations Sustainable Development Goals (UN SDGs). Chemours is evaluating potential locations for investments in the U.S. and Europe based on applicable regulatory frameworks, and is particularly interested in supporting the local communities in which it operates.
Visit https://www.chemours.com/en/industries-applications/energy for more information.
About The Chemours Company
The Chemours Company (NYSE: CC) is a global leader in titanium technology, thermal and specialty solutions, and advanced performance materials, serving a variety of industries through market-defining products, application expertise, and chemistry-based innovation customers provide solutions. We provide custom solutions for a broad range of industrial and specialty chemical products for markets such as coatings, plastics, refrigeration and air conditioning, transportation, semiconductor and consumer electronics, general industrial, and oil and gas. Our flagship products include well-known brands such as Ti-Pure™, Opteon™, Freon™, Teflon™, Viton™, Nafion™ and Krytox™. The company has approximately 6,400 employees and 29 production sites serving approximately 3,200 customers in approximately 120 countries. Headquartered in Wilmington, Delaware, Chemours is listed on the New York Stock Exchange under the symbol CC.
For more information, we invite you to visit chemours.com or follow us on Twitter @Chemours or LinkedIn.
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