PEARL RIVER, NY – October 6, 2020 – Hudson Technologies, Inc. (NASDAQ: HDSN), the nation’s largest refrigerant services provider and largest reclaimer of refrigerant, and Bluesource, the nation’s leading carbon offset developer and retailer, today announced they are teaming up to scale Greenhouse Gas (“GHG”) emission reductions associated with HFC refrigerants.
HFC refrigerants are found in many cooling applications throughout the country, including residential HVAC systems, automobiles, supermarkets, and large commercial buildings. Due to the availability of inexpensive virgin HFCs from overseas, and absent any other formal incentives, HFC refrigerants have historically had a low level of reclamation when compared to other refrigerant types. Hudson and Bluesource firmly believe there is an opportunity to quickly and cost-effectively reclaim HFC refrigerants far beyond current reclaim levels. Through this partnership, Hudson and Bluesource will work together initiating carbon projects to develop and market high quality, voluntary carbon offsets resulting from the reclamation of HFC refrigerants across the country using the American Carbon Registry’s Certified Reclaimed HFC Refrigerants protocol. Executed in advance of any regulatory requirements, these projects encourage the acceleration of GHG emission reductions from the refrigerant industry, which Project Drawdown (a leading Climate Change Solutions Non-profit) identified as one of the top solutions to address global climate change.
Brian F. Coleman, President and Chief Executive Officer of Hudson Technologies commented, “Hudson was founded on a commitment to sustainability, and we are excited to team with Bluesource to lead the way in driving growth in the HFC refrigerants reclamation market and advance our contributions to the circular economy.”
Jonathan Stack, Hudson’s Director of Sustainability added, “For every pound of HFC that is reclaimed, an equal quantity of newly manufactured refrigerant no longer needs to be produced. By displacing the production of new HFCs, these projects are designed to reduce GHG emissions throughout the life of the HFCs, by reusing what is already in existence in the marketplace including in the manufacturing, transport, and service industries.”
“Bluesource is very excited to partner with Hudson Technologies to bring these impactful projects and credits to our clients. Many companies rely on HFC gasses to cool their offices and vehicles or to transport their products, meaning that these carbon projects create reductions directly tied to company operations,” said Benjamin Massie, Vice President of Environmental Markets for Bluesource.
About Bluesource: Bluesource is a climate action partner for private and public companies, nonprofits and government, having pioneered creative solutions to the climate crisis since 2001. With deep expertise across environmental technologies and markets and more than 200 projects in the United States and Canada, Bluesource is a leader in voluntary, compliance and pre-compliance carbon, renewable energy attribute, renewable natural gas, and energy efficiency markets. Bluesource empowers organizations to take their next step toward environmental action.