PEARL RIVER, NY – JUNE 13, 2016 – Hudson Technologies, Inc. (NASDAQ: HDSN) announced that it recently participated in the first American Carbon Registry (ACR) project to generate Verified Emission Reductions (VERs), more commonly known as carbon offset credits, from the reclamation and reuse of hydrofluorocarbon (HFC) refrigerants. Hudson, the leading reclaimer in the U.S., with its reclamation technology also operating in other geographies around the world, offers sustainable solutions enabling the HVAC industry to transition away from the use of ozone depleting or potentially high global warming refrigerants and reduce harmful emissions to the atmosphere.
The ACR protocol is designed to provide financial incentive to encourage companies to utilize reclaimed refrigerant in place of virgin gas and it provides the means to quantify the environmental benefit of doing so. The use of reclaimed HFCs provides an immediate action to reduce HFC emissions and helps reduce the reliance on virgin refrigerants in advance of any HFC virgin production phase-out.
Addressing a Huge Environmental Concern
The global warming power of most HFC refrigerants is thousands of times greater than carbon dioxide, with the EPA warning that the global warming impact of certain refrigerants is estimated to be up to 4,000 times that of carbon dioxide. In excess of 15% of world energy consumption is related to refrigeration and air conditioning. Left unrestricted, HFC emissions could rise to as much as 19% of carbon dioxide emissions by 2050. A phase-down of virgin HFC production, supported by the use of reclaimed refrigerants, will avoid releasing the equivalent of 100 billion tons of carbon dioxide into the atmosphere and will prevent more than 0.5°C of warming by 2050, according to an October 2015 report by the Lawrence Berkeley National Laboratory.
Reclamation is Critical to the Orderly Phase-Out of Environmentally Harmful Refrigerants; Hudson Plays Pivotal Role as Nation’s Largest Reclaimer
Reclamation enables a smooth transition to climate-friendly technologies by significantly decreasing the amount of ozone depleting and greenhouse gases released into the atmosphere. Moreover, reclamation incentivizes and encourages responsible refrigerant management practices that prevent the venting of refrigerant to the atmosphere, which is the harmful aspect of these products. Since the Company’s inception, the emissions prevented by the re-use of Hudson’s reclaimed and recycled refrigerants is estimated to be equivalent to the annual carbon emissions of over 10 million cars.
Kevin Zugibe, Chairman and CEO of Hudson Technologies, stated, “We are pleased to once again lead our industry in the direction of alternative sustainable solutions for servicing the refrigerant aftermarket. Not only are reclaimed refrigerants equivalent to virgin refrigerants when it comes to quality, performance and cost, but the environmental benefits from their use can now be quantified under the new ACR protocol. As a leading provider of reclaimed refrigerants, we are focused on doing our part to curb the emission of greenhouse gases by promoting our reclamation capabilities and the environmental benefits of using reclaimed refrigerants.
“Our reclamation technology may be applied to all refrigerants in use today in both the U.S. and around the globe, as well as next generation refrigerants yet to reach the marketplace. With our reclamation capabilities, we are well positioned to meet the servicing needs of the industry while continuing our long-term commitment to providing solutions that protect the environment,” Mr. Zugibe concluded.