HUDSON
TECHNOLOGIES RECOVERS 37% IN ANNUAL
ENERGY SAVINGS AT FACILITY OF FORTUNE® 50 COMPANY
Hudson
Has Provided its Unique Products, Services and Expertise to 54
of the Fortune® 500, including 15 of the Fortune 50
Pearl River, New
York – December 9, 2005 -- Hudson Technologies, Inc. (Nasdaq: HDSN), a
leading refrigerant services company specializing in proprietary
on-site decontamination services for large comfort and process
cooling systems, today announced that some of the world’s largest
companies have engaged Hudson to provide them with the company’s
patented and proprietary RefrigerantSide® Services, high-speed
refrigerant recovery and reclamation services, reactive emergency
response services and refrigerant sales.
"Fifty-four of the Fortune Top 500 companies, including 15 of the
Fortune 50, have utilized some or all of
Hudson’s unique products, services and expertise. That such a high
percentage of these global, highly competitive companies turn to
Hudson Technologies validates our expertise and offerings. As we
continue to service the emergency response and reactive needs of our
customers, we have begun to introduce to them the benefits of
predictive and preventative maintenance services for their
refrigeration systems,” said Kevin Zugibe, Chairman and CEO, Hudson
Technologies. “We believe that we are now observing a sea change
away from existing reactive maintenance in favor of more predictive
and preventative maintenance practices in order to achieve
significantly reduced annual operating and energy costs. As energy
costs continue to rise, businesses must find ways to reduce energy
consumption to simply maintain existing profit margins. We believe
that our services can provide our customers with savings that
outpace the hike in energy costs.”
Recently, one Fortune 50 company, which had relied on Hudson's
expertise with refrigerants and large refrigeration systems, engaged
Hudson to find solutions for optimizing the
performance of a
large refrigeration system at one of its facilities. Hudson
Technologies assembled actual operating data from the system and,
utilizing Hudson's innovative and patented analysis models to
evaluate the system’s mechanical and chemical components, was able
to identify specific inefficiencies and remedial actions, which,
upon completion, would result in as much as $1.2 million in annual
savings, representing a 37% reduction in annual energy costs.
“For more than 15 years, Hudson Technologies has been pioneering
new and effective technologies and solutions in the cooling
industry,” continued Mr. Zugibe. “While we have achieved a number
of significant milestones, we look forward to being in the forefront
of shifting the cooling industry from primarily a largely reactive
maintenance paradigm to one of preventative and predictive
maintenance. We believe that an industry wide focus on preventing
and predicting problems could save hundreds of millions of dollars
from the current $35 billion annual energy costs incurred in the
U.S. by large comfort and process cooling systems.”
Hudson's
milestones include:
-
The third
quarter of 2005 marked nine consecutive quarters of positive
growth over previous year.
-
Hudson has 12
equipment and process patents or patents-pending, making Hudson
one of the industry’s leading innovators.
-
Became an ENERGY STAR® Service and Product Provider Partner
offering the company’s Performance Optimization services, designed
to improve the operating efficiency of refrigeration systems,
under the ENERGY STAR banner to industrial and commercial
companies.
-
Since its
inception, Hudson has reclaimed more than 40 million pounds of
refrigerants that might otherwise have been destroyed or released
into the environment.
-
Twelve years
after its invention,
Hudson
believes that its patented Zugibeast® is still the fastest
refrigerant reclamation machine in the world.
-
Expanded its
technology service offerings via its relationship with The BOC
Group (NYSE:BOX) to countries outside the US.
-
Created what
Hudson believes to be the industry’s first integrated mechanical
and chemical analysis model, dubbed ChillSMART™, which yields
highly accurate predictive and preventative maintenance
recommendations that can result in significant savings.
About ChillSMART™
Hudson
has developed ChillSMART™ predictive and preventative maintenance
services that evaluate the health of a cooling system with in-depth
analysis of the system’s chemical and mechanical components.
Through the use of proprietary computer models and detailed
engineering, Hudson provides system specific recommendations to
reduce energy costs, increase the system’s efficiency and correct
problems that if left untreated can lead to system failure.
About Hudson
Hudson is
a leading provider of innovative solutions to recurring problems
within the refrigeration industry. Hudson’s proprietary
RefrigerantSide® Services 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.
Contact:
Eric Anderson
Coltrin & Associates
212-221-1616 ext.117
eric_anderson@coltrin.com
David Olsen
Coltrin & Associates
212-221-1616 ext.118
david_olsen@coltrin.com
