The agreement supports the companies’
participation in the Appalachian Regional Clean Hydrogen Hub
(ARCH2) and further decarbonization efforts
The Chemours Company (“Chemours”) (NYSE: CC), a global chemistry
company, and TC Energy, a leader in the responsible development and
reliable operation of North American energy infrastructure, have
executed a memorandum of understanding (MOU) for the potential
development of two electrolysis-based hydrogen production
facilities at or near Chemours’ Washington Works and Belle
manufacturing sites in West Virginia. The MOU supports the
companies’ participation in and goals of the Appalachian Regional
Clean Hydrogen Hub (ARCH2) in West Virginia.
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The agreement covers the companies’ interest in developing,
constructing, and operating clean hydrogen production facilities
and associated infrastructure. The proposed development includes
using established proton exchange membrane (PEM) electrolysers
manufactured in America and utilizing Chemours’ NafionTM ion
exchange membranes.
Under the terms of the MOU, a non-binding off-take agreement for
hydrogen produced by the project would be executed, supporting the
facility demands of Chemours. Additionally, hydrogen produced in
excess of the off-take agreement would be stored and available for
loading and shipment to nearby merchant users.
“As West Virginia’s largest chemical manufacturer, we’re excited
by the potential these clean hydrogen production facilities can
offer to the State through ARCH2, as well as furthering the
decarbonization of our operations,” said Jonathan Lock, Senior Vice
President, Chief Development Officer at Chemours. “Working with TC
Energy, we’ve conducted hydrogen blend testing at our Washington
Works and Belle sites, demonstrating the feasibility of feeding a
hydrogen-natural gas blend fuel to existing fired boiler equipment.
We look forward to moving these potential projects forward as part
of the U.S. Department of Energy’s call for regional clean hydrogen
hub submissions alongside the State and seeing how they can assist
us in reaching our bold greenhouse gas reduction goal.”
“At TC Energy, we take a customer-driven approach to developing
and executing energy solutions,” said Corey Hessen, Executive Vice
President and President, Power & Energy Solutions at TC Energy.
“This relationship with Chemours is an excellent example of putting
that commitment into effect – serving their green hydrogen demand.
With our long history of operating critical infrastructure in West
Virginia, we are excited to develop new clean energy production
opportunities and to forge a strong relationship with
Chemours.”
Responsibility and collaboration are two core company values at
TC Energy and Chemours. As the companies continue to progress under
the agreement, they will engage community stakeholders to share
updates and information.
About The Chemours Company
The Chemours Company (NYSE: CC) is a global leader in Titanium
Technologies, Thermal & Specialized Solutions, and Advanced
Performance Materials providing its customers with solutions in a
wide range of industries with market-defining products, application
expertise and chemistry-based innovations. We deliver customized
solutions with a wide range of industrial and specialty chemicals
products for markets, including coatings, plastics, refrigeration
and air conditioning, transportation, semiconductor and consumer
electronics, general industrial, and oil and gas. Our flagship
products are sold under prominent brands such as Ti-Pure™, Opteon™,
Freon™, Teflon™, Viton™, Nafion™, and Krytox™. The company has
approximately 6,600 employees and 29 manufacturing sites serving
approximately 2,900 customers in approximately 120 countries.
Chemours is headquartered in Wilmington, Delaware and is listed on
the NYSE under the symbol CC.
For more information, we invite you to visit chemours.com or
follow us on Twitter @Chemours or LinkedIn.
About TC Energy
We’re a team of 7,000+ energy problem solvers working to move,
generate and store the energy North America relies on. Today, we’re
taking action to make that energy more sustainable and more secure.
We’re innovating and modernizing to reduce emissions from our
business. And, we’re delivering new energy solutions – from natural
gas and renewables to carbon capture and hydrogen – to help other
businesses and industries decarbonize too. Along the way, we invest
in communities and partner with our neighbours, customers and
governments to build the energy system of the future.
TC Energy’s common shares trade on the Toronto (TSX) and New
York (NYSE) stock exchanges under the symbol TRP. To learn more,
visit us at TCEnergy.com.
Forward-Looking Statements
This press release contains forward-looking statements, within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934, which involve
risks and uncertainties. Forward- looking statements provide
current expectations of future events based on certain assumptions
and include any statement that does not directly relate to a
historical or current fact. The words "believe," "expect," "will,"
"anticipate," "plan," "estimate," "target," "project" and similar
expressions, among others, generally identify "forward- looking
statements," which speak only as of the date such statements were
made. These forward-looking statements may address, among other
things, the outcome or resolution of any pending or future
environmental liabilities, the commencement, outcome or resolution
of any regulatory inquiry, investigation or proceeding, the
initiation, outcome or settlement of any litigation, changes in
environmental regulationsin the U.S. or other jurisdictions that
affect demand for or adoption of our products, anticipated future
operating and financial performance for our segments individually
and our company as a whole, business plans, prospects, targets,
goals and commitments, capital investments and projects and target
capital expenditures, plans for dividends or share repurchases,
sufficiency or longevity of intellectual property protection, cost
reductions or savings targets, plans to increase profitability and
growth, our ability to make acquisitions, integrate acquired
businesses or assets into our operations, and achieve anticipated
synergies or cost savings, all of which are subject to substantial
risks and uncertainties that could cause actual results to differ
materially from those expressed or implied by such statements.
Forward-looking statements are based on certain assumptions and
expectations of future events that may not be accurate or realized.
These statements are not guarantees of future performance.
Forward-looking statements also involve risks and uncertainties
that are beyond Chemours' control. In addition, the COVID-19
pandemic has significantly impacted the national and global economy
and commodity and financial markets, which has had and we expect
will continue to have a negative impact on our financial results.
The full extent and impact of the pandemic is still being
determined and to date has included significant volatility in
financial and commodity markets and a severe disruption in economic
activity. The public and private sector response has led to travel
restrictions, temporary business closures, quarantines, stock
market volatility, and interruptions in consumer and commercial
activity globally. Matters outside our control, including general
economic conditions, have affected or may affect our business and
operations and may or may continue to hinder our ability to provide
goods and services to customers, cause disruptions in our supply
chains such as through strikes, labor disruptions or other events,
adversely affect our business partners, significantly reduce the
demand for our products, adversely affect the health and welfare of
our personnel or cause other unpredictable events. Additionally,
there may be other risks and uncertainties that Chemours is unable
to identify at this time or that Chemours does not currently expect
to have a material impact on its business. Factors that could cause
or contribute to these differences include the risks, uncertainties
and other factors discussed in our filings with the U.S. Securities
and Exchange Commission, including in our Annual Report on Form
10-K for the year ended December 31, 2022. Chemours assumes no
obligation to revise or update any forward-looking statement for
any reason, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20230419005199/en/
INVESTORS Jonathan Lock SVP, Chief Development Officer,
Chemours +1.302.773.2263 investor@chemours.com Kurt Bonner Manager,
Investor Relations, Chemours +1.302.773.0026 investor@chemours.com
Gavin Wylie / Hunter Mau Investor relations, TC Energy
investor_relations@tcenergy.com +1.403.920.7911 or 800.361.6522
NEWS MEDIA Thom Sueta Director, Corporate Communications,
Chemours +1.302.773.3903 media@chemours.com Stone Grissom / Reid
Fiest media@tcenergy.com +1.403.920.7859 or 800.608.7859
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