PEARL RIVER, NY – MARCH 28, 2013 – Hudson Technologies, Inc. (NASDAQ: HDSN), announced that the Environmental Protection Agency (EPA) issued its Final Rule on March 27 pertaining to allowances for virgin HCFC (R-22) for 2013 and 2014 and the previously noted recoupment allowances. The Final Rule provides for virgin R-22 allowances of 63 million pounds in 2013 and 51 million pounds in 2014.
Kevin Zugibe, Hudson’s Chairman and CEO, stated,
“The EPA’s issuance of a final rule has provided certainty to our industry regarding 2013 and 2014 and the clarity needed to fully implement our growth strategy. While the final rule provides for more allowances than the EPA’s 2013 no action assurance letter, we continue to believe that the aftermarket demand for R-22 exceeds the total allowances and that reclaimed R-22 will bridge the supply and demand gap. Lastly, we look forward to the EPA’s issuance next year of its rule for the period 2015 through 2019 and the ultimate phase-out of virgin R-22 by December 31, 2019.”
The final rule will become effective on the date of publication in the Federal Register. A pre-publication copy of the rule is available at http://www.epa.gov/ozone/title6/phaseout/2012-2014HCFCs_web.pdf