Chemours Announces $200 Million Investment to Expand Capacity and Technology in Response to Growing Global Demand for Hydrogen Solutions
The Chemours Company ("Chemours") (NYSE: CC), a global chemistry company with leading market positions in Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials, today announced a planned $200 million investment to increase capacity and advance technology for its industry-leading Nafion ion exchange materials to support the Hydrogen Economy. Accelerated climate ambitions and energy challenges have fast-tracked demand for hydrogen power and fuel cell technology. Chemours’ investment will support growing market demand for clean hydrogen generation using water electrolyzers, energy storage in flow batteries, and hydrogen conversion to power fuel cell vehicles of the future.
"Fueled by government and industrial investment and carbon-neutral secular trends, the Hydrogen Economy is at a critical juncture, and investment is needed to support our strategic partners to deliver against those ambitious goals. Our Nafion membrane technology is the heart of hydrogen power generation, storage, and use,” said Denise Dignam, President of Advanced Performance Materials at Chemours. "Built on more than 50 years of experience, this planned new investment will further support the growth of Chemours’ partners, the overall Hydrogen Economy, and positions Chemours as a major industry player."
The investment will focus on the Nafion ion exchange materials technology platform, whose chemical properties can help generate clean hydrogen from water electrolysis enabling the Hydrogen Economy. Nafion proton exchange membranes are used in fuel cells to convert hydrogen to power instantly, making fleets of zero-emission fuel cell-powered trucks, buses, trains, and cars a reality. And Nafion ion exchange materials enable flow batteries to store excess renewable energy and convert it back to electricity, helping to solve the challenge of renewable power intermittency.
Chemours is committed to leadership in responsible manufacturing, and this capacity investment will contribute to its goal of shifting the company’s product portfolio to offerings that contribute to achieving the United Nations Sustainable Development Goals (UN SDGs). Chemours is evaluating potential locations in the United States and Europe for the investment in accordance with applicable regulatory frameworks and is particularly interested in supporting the local communities where they operate.