Chemours Officially Launches Operations as Part of Joint Venture With BWT and FUMATECH, Meeting Demand in Mobility Applications Critical to Global, Sustainable Hydrogen Economy

Rhea-AI Summary

Chemours Company has received regulatory approvals to launch operations at its joint venture with BWT FUMATECH Mobility GmbH. The joint venture, named THE Mobility F.C. Membranes Company GmbH - A BWT Chemours Company, will focus on manufacturing fuel cell and humidifier membranes for mobility applications. Chemours and BWT FUMATECH have over 85 years of experience in fuel cell innovation.

Positive

• Chemours and BWT FUMATECH have received regulatory approvals to launch operations at their joint venture, THE Mobility F.C. Membranes Company GmbH - A BWT Chemours Company.
• The joint venture will manufacture fuel cell and humidifier membranes for mobility applications.
• Chemours and BWT FUMATECH have over 85 years of experience in fuel cell innovation.
• The joint venture aims to meet the demand for membranes critical to scaling the global hydrogen economy.
• Chemours' Nafion™ ion exchange membranes are fundamental to the hydrogen economy and will be used in creating industry-leading end-product membranes.
• THE Mobility F.C. Membranes Company will supply fuel cell and humidifier membranes globally, supporting the transition to green, hydrogen-powered transportation.

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• None.

WILMINGTON, DE / ACCESSWIRE / June 7, 2023 / The Chemours Company ("Chemours") (NYSE:CC), a global chemistry company with leading market positions in Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials, announced the requisite European Commission and the People's Republic of China State Administration for Market Regulations regulatory approvals are now in place to launch operations at its joint venture with BWT FUMATECH Mobility GmbH ("BWT FUMATECH"), under the name of THE Mobility F.C. Membranes CompanyGmbH - A BWT Chemours Company. FUMATECH BWT GmbH is an established player in multiple hydrogen markets focused on membrane manufacturing in the field of fuel cell technology.

The 50-50 joint venture focuses on integrating the unique capabilities, resources, and technological expertise of each company to elevate and accelerate the capacity to manufacture fuel cell and humidifier membranes for mobility applications for long-term customers. By leveraging the best of each partner's complementary assets, THE Mobility F.C. Membranes Company GmbH - A BWT Chemours Company will expedite the supply of HDFC membranes to original equipment manufacturers (OEMs), helping to meet the demand for these membranes that are critical to fully scaling the global hydrogen economy.

Chemours and BWT FUMATECH have more than 85 years of experience in fuel cell innovation. Chemours inventor of Nafion^™ ion exchange membranes, dispersions, and resins, which are fundamental to the hydrogen economy - possesses deep expertise in producing the building blocks of high-performance membranes. The company also maintains an ongoing commitment to responsible manufacturing, minimizing the environmental impacts of its operations and driving long-term sustainability goals. Located in Germany, THE Mobility F.C. Membranes Company - A BWT Chemours Company will cooperate with FUMATECH BWT GmbH - a subsidiary of the private, Austrian-based BWT Group - and its existing production technology and line operations to use Chemours Nafion^™ ion exchange materials in creating industry-leading end-product membranes.

"Our Nafion^™ ion exchange membranes are playing a critical role in driving the hydrogen economy and helping to create a more sustainable future, " said Gerardo Familiar, president of Advanced Performance Materials at Chemours. "The technologies and solutions powered by our chemistry enable modern life and support economies across the world. Our joint venture with FUMATECH BWT GmbH and the BWT Group will enable solutions to support the future of clean energy and the transition to global decarbonization, and we couldn't be more excited to start our journey."

"With this joint venture, we of course have a big vision for accelerating the availability of resources necessary to empower more people, industries, and businesses to fully embrace a cleaner future," said Andreas Weissenbacher, CEO of BWT. "The key is that BWT, FUMATECH and Chemours back these visions with solid, thoughtful strategies that bring us to this J.V. today and establish the resources and processes necessary to secure the path for long-term success in line with the growth within the hydrogen space."

THE Mobility F.C. Membranes Company will supply fuel cell and humidifier membranes globally, enabling downstream customers to accelerate conversion to green, hydrogen-powered heavy-duty transportation, driving green goals and sustainable policy frameworks in the E.U., the U.S. and elsewhere. With regulatory approvals in place the joint venture can now officially begin operation producing fuel cells and humidifier membranes for the mobility market.

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 FUMATECH BWT GmbH

FUMATECH (Functional Membranes and Plant Technology) is part of the BWT Group, a private water treatment company founded in 1994. FUMATECH, headquartered in Bietigheim-Bissingen, Germany, has established itself as a technological pioneer in the production of fuel cell membranes, ion-exchange membranes for energy storage and separation technology. The company has extensive expertise in areas ranging from the formulation of raw materials and the processing of materials to create membranes suited to their technical application. Visit FUMATECH.com for more information.

About the BWT Group

The BWT - Best Water Technology - Group is a leading water technology company in Europe with a staff of more than 5,500, working on innovative, economic and ecologically friendly water treatment technologies to provide private households, industry, commerce, hotels and municipalities with the safest, healthiest and most hygienic water possible for their day-to-day needs. BWT provides modern water treatment systems and services for drinking water, process water, pool water and, especially, WFI - water for injection for the pharmaceutical and biotech industry. The company's research and development staff works on new techniques and materials using cutting-edge methods to develop economical and ecologically friendly products. Employees work particularly hard to create products which use fewer resources and less energy, thereby reducing CO2 emissions.

Sustainability is in BWT's DNA, and every BWT product contributes to the conservation of our most valuable resource, water. BWT's Claim - For You and Planet Blue - is today more relevant than ever before, given the challenges our society faces worldwide today. With its unique and patented water treatment technologies, BWT contributes every day to "Change the World - sip by sip", by transforming local water sources into best, tasty, mineralized drinking water, avoiding the transport of single-use plastic and glass bottles around the globe, reducing CO2 emissions and minimizing plastic waste. Also with its worldwide leading know how in the development and production of high-performance membranes for the fuel cell - the energy converter of the 21^st century - BWT works towards its mission "For You and Planet Blue".

More information about BWT Group and their products and services is available at www.bwt.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 regulations in 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, such as full year guidance relying on models based upon management assumptions regarding future events that are inherently uncertain. These statements are not guarantees of future performance. Forward-looking statements also involve risks and uncertainties that are beyond Chemours' control. Matters outside our control, including general economic conditions and the COVID-19 pandemic, 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 Quarterly Report on Form 10-Q for the quarter ended March 31, 2023 and 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.

INVESTORS
Jonathan Lock
SVP, Chief Development Officer
+1.302.773.2263
investor@chemours.com

Kurt Bonner,
Manager, Investor Relations
+1.302.773.0026
investor@chemours.com

NEWS MEDIA
Thom Sueta
Director, Corporate Communications
+1.302.773.3903
media@chemours.com

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FAQ

What is the joint venture between Chemours and BWT FUMATECH?

The joint venture between Chemours and BWT FUMATECH is called THE Mobility F.C. Membranes Company GmbH - A BWT Chemours Company. It will focus on manufacturing fuel cell and humidifier membranes for mobility applications.

What are the regulatory approvals that Chemours has received?

Chemours has received the requisite European Commission and the People's Republic of China State Administration for Market Regulations regulatory approvals.

What is the experience of Chemours and BWT FUMATECH in fuel cell innovation?

Chemours and BWT FUMATECH have over 85 years of experience in fuel cell innovation.

What membranes will be used in the joint venture?

Chemours' Nafion™ ion exchange membranes, which are fundamental to the hydrogen economy, will be used in creating industry-leading end-product membranes.

What is the goal of THE Mobility F.C. Membranes Company?

The goal of THE Mobility F.C. Membranes Company is to meet the demand for membranes critical to scaling the global hydrogen economy and to support the transition to green, hydrogen-powered transportation.