Hudson Technologies
Becomes an ENERGY STAR® Service and
Product Provider Partner
Launches Energy System Optimization Program to Identify
Inefficiencies and
Provide Energy Saving Solutions
PEARL RIVER,
N.Y. – March 3, 2005 –
Hudson Technologies, Inc. (Nasdaq: HDSN), a leading
refrigerant services company, today announced that it has become an
ENERGY STAR® Service and Product Provider Partner. ENERGY STAR is a
voluntary program run by the U.S. Environmental Protection Agency
(“EPA”).
Hudson will now
begin offering its Performance Optimization services, designed to
improve the operating efficiency of refrigeration systems, under the
ENERGY STAR banner to industrial and commercial companies.
Chief Executive Officer
Kevin Zugibe,
P.E., commented, “As an ENERGY STAR Service and Product Provider
Partner, we will combine Hudson’s unique offerings and experienced
staff with the significant resources developed by the EPA for this
program. Our goal will be to help industrial and commercial
entities identify energy-efficient solutions that provide
significant savings while protecting the environment.”
Hudson’s Performance Optimization program is a unique and innovative
system for improving the efficiency of industrial and commercial
refrigeration systems. The program, for which Hudson was awarded a
patent in 2003, uses a computer model to determine component as well
as overall chiller systems efficiency. Hudson then integrates the
Performance Optimization program with its proprietary
RefrigerantSide® Services to improve the operations of its
customers’ refrigeration systems.
“We believe the potential market for our Performance Optimization
offering is huge,” Mr. Zugibe stated. “DOE statistics show that the
commercial and industrial sectors together consume more than 66% of
total electricity usage and 56% of total energy usage in the U.S,
with more than $19 billion spent annually just for cooling costs.
Even a reduction of 1% of these sectors’ energy usage for cooling
would produce annual energy saving of more than $190 million. In
our initial applications of this offering, the Company has already
identified over $1 million in potential energy savings. We believe
Hudson’s
services can help achieve significant savings for our customers,
thus helping achieve the ENERGY STAR goal of energy conservation.”
Hudson’s decision to become an ENERGY STAR Service and Product
Provider Partner is the Company’s most recent step to apply the
power of technology to solve the increasingly complex problems of
industrial and commercial users of refrigeration and air
conditioning systems while protecting the environment. Since its
formation in 1991, and with the development of the Company’s
patented ZugiBeast®, Hudson has cleaned tens of millions of pounds
of ozone-depleting substances, thereby preventing their release into
the environment. Its RefrigerantSide® Services offering, introduced
in 1999, provides fast, on-site decontamination services through
Hudson’s superior engineering and chemistry capabilities. In 2004,
Hudson recruited the considerable talent and experience of Riyaz
Papar, PE, CEM, who is serving as Director of Energy Assets and
Optimization and spearheading the commercial deployment of its
Energy System Optimization offering.
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 can be utilized while the customer’s
system continues to operate. In addition, the company sells
refrigerants and provides traditional recovery and reclamation
services to the commercial and industrial air conditioning and
refrigeration markets.
ENERGYSTAR
is a dynamic government/industry partnership that offers businesses
and consumers energy-efficient solutions, making it easy to save
money while protecting the environment for future generations. In
1992 the EPA introduced ENERGY STAR as a voluntary labeling program
designed to identify and promote energy-efficient products to reduce
greenhouse gas emissions. In 1996, EPA partnered with the U.S.
Department of Energy for particular product categories. The ENERGY
STAR label is now on major appliances, office equipment, lighting,
home electronics, and more. EPA has also extended the label to cover
new homes and commercial and industrial buildings.
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
and other risks detailed in the Company’s other 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
Brian F. Coleman, President & COO
Lippert/Heilshorn & Associates
Hudson Technologies, Inc.
(212) 838-3777
(845) 735-6000
hfried@lhai.com
bcoleman@hudsontech.com
