House & Home
House and Home
House and Home 
Mon, January 26, 2009
Hudson Technologies Announces New Refrigerant Reclamation Program Designed to Maximize Supply for Upcoming HCFC Phase Out
PEARL RIVER, N.Y.--([ BUSINESS WIRE ])--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, has announced the introduction of the Hudson Platinum Program to assist customers in maximizing the recovery and reclamation of HCFC refrigerants.
The Company's Platinum Program is a full-service program, at one all inclusive price, that customizes the reclamation and recycling process to accommodate each customer's requirements. Through Hudson's cylinder handling and reclamation facility in Champaign, Illinois, the Platinum Program offers customers reclamation, cylinder maintenance and repackaging and return of HCFCs. In addition, under the program, a customer can sell used refrigerants back to Hudson.
Kevin Zugibe, Chairman and CEO stated, "In the near-term our industry will feel the effects of new regulations that will accelerate the phase out of HCFC refrigerants, which currently represent over 60% of the refrigerant aftermarket. Effective January 1, 2010, EPA regulations will reduce the supply of new HCFC refrigerants by more than 60% from the current level of supply. Despite this reduction, the servicing demand for existing HCFC refrigerant systems will continue due to the long service life of those cooling systems. Based on the latest EPA projections, and its proposed allowance rule, it is expected that on January 1, 2010 the servicing demand will exceed the available supply of new HCFC refrigerants by approximately 20%. Reclaimed refrigerant will therefore be essential to ensure adequate supply of refrigerant to service these systems. Our new reclamation program assists our customers in meeting their HCFC supply needs and provides an avenue for them to sell their used refrigerant back to us to be reclaimed and returned into the market. Based on the feedback from our customers in 2008, we believe the Platinum Program will drive growth in our reclamation business."Hudson's Platinum Reclamation Program is available immediately.
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 ].
Safe Harbor Statement under the Private Securities Litigation Act of 1995
Statements contained herein, which are not historical facts constitute forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, but are not limited to, changes in the markets for refrigerants (including unfavorable market conditions adversely affecting the demand for, and the price of refrigerants), the Company's ability to source refrigerants, regulatory and economic factors, seasonality, competition, litigation, the nature of supplier or customer arrangements which become available to the Company in the future, adverse weather conditions, possible technological obsolescence of existing products and services, possible reduction in the carrying value of long-lived assets, estimates of the useful life of its assets, potential environmental liability, customer concentration, the ability to obtain financing and other risks detailed in the Company's periodic reports filed with the Securities and Exchange Commission. The words "believe", "expect", "anticipate", "may", "plan", "should" and similar expressions identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made.