The Chemours Company praised Congress for passing the American Innovation and Manufacturing Act (AIM Act), which was signed into law by President Donald Trump as part of the year-end Omnibus package.
Chemours is based in Wilmington and has a research center at the University of Delaware STAR Campus.
The AIM Act is expected to deliver $38 billion in economic benefit to the US by 2027, create new jobs, and provide an orderly nation-wide phase down of hydrofluorocarbons in use across multiple industries.
Chemours has developed a portfolio of low global warming potential solutions leveraging hydrofluoroolefin (HFO) technology.
“Chemours has been consistent in our support of orderly HFC phase down actions globally. We are pleased that Congress, with bi-partisan support in both the Senate and the House, believed the provisions of the AIM Act can deliver environmental and economic benefits as the United States continues to take important steps to address climate change. We look forward to working with the Biden Administration in 2021 to bring the AIM Act to life and to working with policy makers on both sides of the aisle to continue to advance and apply American innovation, manufacturing and leadership to help create a cleaner world,” said Mark Vergnano, Chemours CEO.
By 2025, Chemours estimates that its low GWP products will eliminate an estimated 325 million tons of carbon dioxide equivalents on a global basis. This reduction would be equivalent to 69 million passenger cars being driven in one year, or the annual energy use for 37 million homes.
Chemours has invested hundreds of millions of dollars in research and development, manufacturing assets, and downstream product and application development with low GWP, HFO technology, and remains committed to the ongoing development needs of customers through the HFC phase down in the US and globally.
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The low HFO technology has not been universally praised, with the Glasgow-based Caesar Rodney Institute, among the organizations claiming costs are high and benefits are less than those promoted by companies like Chemours.