HUDSON
TECHNOLOGIES AND EOS CLIMATE ANNOUNCE NEW ALLIANCE OPENING THE WAY
TO MARKET BASED SOLUTIONS TO CLIMATE CHANGE
Pearl River, NY
– February 22, 2010 –
Hudson
Technologies, Inc. (NASDAQ: HDSN), a leading distributor and
reclaimer of refrigerants as well as a provider of proprietary
on-site decontamination services for large comfort and process
cooling systems, announced today that it has formed an alliance with
EOS Climate, Inc. (“EOS Climate”) to develop and deliver permanent
greenhouse gas (“GHG”) emissions reductions to the evolving carbon
market.
Kevin Zugibe,
Chairman and CEO stated: “We believe this alliance with EOS Climate
will help us utilize a new protocol recently approved by the Climate
Action Reserve’s (“CAR”) Board, to generate high quality emissions
reductions through the destruction of ozone depleting substances
(“ODS”), such as Chlorofluorocarbons (“CFCs”), that have been phased
out of production. Ozone depleting substances are also potent
greenhouse gases and preventing their release provides significant
environmental and climate benefits. Hudson’s deep experience and
knowledge of the refrigerant market, coupled with EOS Climate's
expertise in greenhouse gas projects provides both companies a route
to carbon market revenues while driving permanent, scalable
emissions reductions.”
“We are excited
by our new alliance with EOS Climate and look forward to working
with them to promote responsible ‘end of life’ handling of ODS from
older, inefficient equipment. Hudson is a leading refrigerant
reclaimer and has always looked for solutions to grow our business
while fostering best environmental practices. This opportunity for
the destruction and monetization of CFCs is a natural extension of
our effort to protect the environment and complements our existing
business, and in the future will likely expand to include
Hydrofluorocarbons, which are also high global warming gases, as
their mandated phase outs are expected to occur over the next twenty
years.”
EOS Climate CEO
Joe Madden commented, “We have developed an integrated system of
market leaders at each step of the supply chain to ensure a regular
supply of high quality emissions reductions to meet the growing
demand in North America. Hudson is an important partner for us, with
their record of delivery, reliability and expertise.”
“EOS Climate's
ODS destruction methodology served as the springboard for CAR's
final protocol. The CAR protocol, coupled with the Hudson/EOS
alliance, brings the U.S. one step closer to the development of a
market-based mechanism to address the climate change impacts
associated with ODS. Absent a quantifiable and verifiable
market-based mechanism, these gases would otherwise be released to
the atmosphere, the equivalent to millions of tons of CO2. The new
CAR protocols, and alliances like ours with Hudson, we believe will
mobilize projects and accelerate the move to more advanced
technologies while leveraging financing from GHG markets
domestically and worldwide,” added Madden.
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 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.
ABOUT EOS CLIMATE
Based in San
Francisco, EOS Climate has built a transparent and comprehensive
system to collect and destroy ODS. This system enables EOS to
deliver high quality emissions reductions to the voluntary and
regulated carbon markets in the near term. The system includes:
leading authorship of the CAR methodology, strategic partnerships
with leading domestic suppliers ensuring access to ODS; and
technology partners ensuring projects are executed effectively and
highly verifiable emissions reductions are delivered quickly.
Through its extensive network of partners and suppliers, EOS Climate
offers rapid project execution, permanent emissions reduction,
transparency, and readily monitored and verifiable offsets. For more
information, visit
www.eosclimate.com.
