PEARL RIVER, NY – JANUARY 10, 2013 – Hudson Technologies, Inc. (NASDAQ: HDSN), reports that the United States Environmental Protection Agency (EPA) has revised and extended the “No Action Assurance” issued in January 2012 to importers and producers of Hydrochlorofluorocarbon-22 (HCFC-22). With this revision, and until the issuance of a final rule, the EPA has reduced the amount of HCFC-22 that can be manufactured and/or imported in 2013 to 39 million pounds. This action provides for a greater reduction than as set forth in the EPA’s proposed rule which provides for minimum allowances of 45 million pounds for 2013. EPA increased the reduction for 2013 to accommodate for potential recoupment allowances claimed to have been lost by certain allowance holders under the EPA’s 2009 Rule. We believe that the final rule, which should cover the periods, 2012, 2013 and 2014, will provide at least 6 million more pounds of allowances for 2013.
Kevin Zugibe, Chairman and Chief Executive Officer commented,
“We are very pleased that the EPA’s No Action Assurance has reduced allowances essentially in line with our expectations. Initially, the 39 million pounds is below the minimum level of 45 million pounds set forth in the EPA’s proposed rule covering 2013. We believe it is likely that the final rule, which we expect to see sometime in 2013, will provide for the production or importation of at least 45 million pounds of R-22 for 2013, as compared to 55 million pounds for 2012. We are pleased that the EPA continues to make progress toward the complete phase out of HCFC-22. With EPA’s issuance of this revised No Action Assurance, we believe we will continue to see growth in the reclamation market, with recovered refrigerants filling the supply gap that is created with the limitation of virgin R-22 production.”
A copy of the EPA’s No Action Assurance can be found at: