Chemours and Honeywell Partner With Authorities in the European Union to Stop Illegal Refrigerant Imports in Greece

The Chemours Company (“Chemours”) (NYSE: CC), a global chemistry company with leading market positions in Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials, and Honeywell (NASDAQ: HON), today announced they have engaged with the Interagency for Market Control of the Hellenic Ministry of Development (DIMEA), the Hellenic Police, and Hellenic Customs to stop illegal fluorinated gas (F-gas) refrigerants from entering the European Union (EU) at the Greek border. Approximately 15.6 tons of suspected unauthorized refrigerants including R-1234yf used as an automotive refrigerant were seized, tested, and determined to infringe valid patents or deemed illegal in the European Union, according to Greek officials. These illegal products will be safely destroyed before year-end 2023 in a process that protects workers as well as the planet.

Chemours collaborated with Honeywell in the operation to protect the Intellectual Property (IP) of refrigerant innovations owned by both companies and to detect and confiscate illegal F-gases. These efforts are part of an ongoing commitment by Chemours and Honeywell to not only protect IP, but to defend people, businesses, communities and the planet against the ramifications of illegal import activities. As phasedowns of hydrofluorocarbons (HFCs) progress in the EU, United States, and elsewhere, black market activities of refrigerants are expected to increase exponentially, driving authorities and companies like Chemours and Honeywell to collaborate on educating invested parties as well as strengthening enforcement efforts to deter illegal trade of HFCs.

“Chemours stands strong in our responsibility to the customers and industries we serve, as well as achieving global climate goals, to protect the IP of our refrigerant products and work with credible resources to prevent illegal trade,” said Joe Martinko, interim president of Thermal & Specialized Solutions at Chemours. “F-gases play a pivotal role in Europe’s decarbonization goals through a variety of critical industries that rely on low-global warming potential (GWP) heating and cooling solutions. There is much at stake from the use of illegal products and the damage it can have on the supply chain. Moreover, illegals sabotage regional, national, and global efforts to ensure a sustainable, healthy planet. The more unregulated volumes of product that enter the market, the greater the delay in meeting climate objectives.”