HUDSON TECHNOLOGIES
GRANTED PATENT FOR
PERFORMANCE MONITORING AND OPTIMIZATION SYSTEM
New System Offers Significant Energy Savings for Commercial and
Industrial Users
PEARL RIVER,
N.Y. – March 4, 2003 – Hudson Technologies, Inc. (Nasdaq: HDSN),
a leading refrigerant services company, has been granted a patent by
the U.S. Patent and Trademark Office for its Performance Monitoring
and Optimization system, a new and unique system for measuring,
modifying and improving the efficiency of industrial and commercial
chillers and refrigeration systems. This system, when integrated
with Hudson’s patented Zugibeast® and other proprietary equipment,
can deliver significant improvements to chiller system efficiency
and increase system capacity.
“Performance Monitoring and Optimization has the potential to
produce significant savings for industrial and commercial customers,
not only on their annual energy bills, but also on maintenance and
unscheduled downtime,” said Kevin J. Zugibe, Chairman and Chief
Executive Officer. “This patent increases the protection of our
valuable intellectual property and is an important milestone in the
roll-out of our performance monitoring and optimization service
offering, which began last year.”
“Based on our experience working with thousands of chillers, we
believe that there are commercial and industrial refrigeration
systems throughout the U.S. whose owners could realize substantial
savings through the use of our services. The Company estimates that,
nationwide, electric power consumption from refrigerant equipment
costs more than $15 billion annually. Air conditioning systems alone
account for up to one-third of the energy costs of most commercial
buildings.”
The Performance Monitoring and Optimization program is an integrated
computer software package that accurately models each customer’s
specific refrigeration system and determines component as well as
overall system efficiency. It provides real-time monitoring and
modeling of a refrigeration/chiller system’s operating conditions.
This model provides a picture into the true operation of a system,
while allowing Hudson Technologies – at times in conjunction with
the refrigeration mechanic – to fine tune the optimum values for
specific operating parameters. Until now, the actual effect on
performance of some of these parameters could not be determined.
This real-time system enhances Hudson’s position as an ongoing and
invaluable resource to refrigeration/chiller system operators and
mechanics.
About Hudson Technologies
Hudson Technologies, Inc., is a leading provider of innovative
solutions to recurring problems within the refrigeration industry.
Hudson’s proprietary RefrigerantSide® Services, which are provided
through a nationwide network of service depots, increase operating
efficiency and energy savings, and remove moisture, oils and other
contaminants frequently found in the refrigeration circuits of large
comfort cooling and process refrigeration systems. Performed at a
customer’s site as an integral part of an effective scheduled
maintenance program or in response to emergencies, RefrigerantSide®
Services offer significant savings to customers due to their ability
to be completed rapidly and at higher purity levels, and can be
utilized while the customer’s system continues to operate. In
addition, the company sells refrigerants and provides traditional
reclamation services to the commercial and industrial air
conditioning and refrigeration markets. For further information on
Hudson, please visit the company’s web site at
www.hudsontech.com.
Safe Harbor Statement under the Private Securities Litigation Act
of 1995
Statements contained herein, which are not historical facts
constitute 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 markets for refrigerants (including unfavorable market
conditions adversely affecting the demand for, and the price of
refrigerants), regulatory and economic factors, seasonality,
competition, litigation, the nature of supplier or customer
arrangements which 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 and other risks detailed in the
company’s periodic reports filed 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.
Investor Relations Contacts:
Company Contact:
Harriet Fried/John Nesbett
Brian F. Coleman, President & COO
Lippert/Heilshorn & Associates
Hudson Technologies, Inc.
(212) 838-3777
(845) 735-6000
hfried@lhai.com
bcoleman@hudsontech.com
