Hudson Technologies Selected to Support California Air Resources Board’s Refresh Pilot Program for Refrigerant Recovery & Reclamation
Rhea-AI Summary
Hudson Technologies (NASDAQ: HDSN) was selected as one of two reclamation providers for the California Air Resources Board’s REFRESH pilot program to increase residential recovery and reclamation of HFC and HCFC refrigerants. The pilot, administered by NASRC and funded through CARB’s F-gas Reduction Incentive Program, makes up to $5 million available to buy back recovered refrigerant and support administrative and labor costs.
Hudson will partner with CEC EBD Statewide Direct Install contractors, purchase recovered refrigerants for reclamation, and provide technician training. The REFRESH pilot is scheduled to launch in early 2026.
Positive
- Selected as one of two reclamation providers in CARB REFRESH pilot
- Access to up to $5 million in FRIP funding for buybacks and support
- Direct partnerships with CEC EBD Statewide Direct Install contractors
- Hudson to provide technician training in recovery best practices
Negative
- Program funding is up to $5 million, not guaranteed in full
- Pilot scope is limited to California residential HVAC, limiting near-term scale
- Revenue timing uncertain until pilot launch and contractor participation in 2026
Key Figures
Market Reality Check
Peers on Argus
HDSN was down 0.68% while peers like KRO (-5.27%), OEC (-4.62%) and MATV (-2.72%) also traded lower, suggesting a broader specialty chemicals/related sector softness rather than a stock-specific move.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Dec 01 | Buyback authorization | Positive | +6.8% | Board increased 2025–2026 share repurchase authorization to up to $20M each year. |
| Nov 13 | Leadership change | Positive | -1.0% | Appointment of Kenneth Gaglione as Chairman, President and CEO effective Nov 24, 2025. |
| Nov 05 | Earnings report | Positive | +1.6% | Q3 2025 results with 20% revenue growth and 59% net income increase. |
| Nov 03 | CEO departure | Negative | -0.2% | Immediate departure of prior CEO and interim leadership alongside preliminary Q3 figures. |
| Oct 22 | Government contract | Positive | +1.1% | Award of prime contractor DLA IDIQ contract valued at about $210M over five years. |
Recent news with clearly positive fundamentals (buybacks, government contracts, earnings) has usually aligned with modest positive price reactions, while leadership changes showed a small mixed response.
Over the last few months, Hudson Technologies reported stronger fundamentals, including Q3 2025 revenue of $74.0M with higher margins and net income, and secured a new $210M five‑year DLA contract. Corporate governance evolved with a CEO departure on Oct 22, 2025 followed by Kenneth Gaglione’s appointment as Chairman, President and CEO effective Nov 24, 2025. The board also expanded its share repurchase authorization to up to $20M in both 2025 and 2026. Today’s CARB REFRESH pilot selection fits into this pattern of contract wins and strategic positioning in refrigerant reclamation.
Market Pulse Summary
This announcement highlights Hudson’s selection as one of two reclamation providers in CARB’s REFRESH pilot, supported by up to $5 million of FRIP funding for refrigerant buybacks and program costs. It extends a recent run of contract and policy-related wins, alongside strong Q3 2025 results and an expanded $20M annual repurchase authorization. Investors may watch how much recovered volume flows through this pilot, its early 2026 rollout, and how it complements the existing $210M DLA contract.
AI-generated analysis. Not financial advice.
Pilot program establishes direct relationship between Hudson and HVAC contractors in California to increase residential recovery of HFC refrigerants
WOODCLIFF LAKE, N.J., Dec. 09, 2025 (GLOBE NEWSWIRE) -- Hudson Technologies, Inc. (NASDAQ: HDSN) a leading provider of innovative and sustainable refrigerant products and services to the Heating, Ventilation, Air Conditioning and Refrigeration Industry – and one of the nation’s largest refrigerant reclaimers - has been named, after a competitive process, as one of two reclamation providers to participate in the California Air Resources Board’s (“CARB”) REFRESH pilot program, the state’s first program to incentivize refrigerant recovery and reclamation.
The REFRESH (Refrigerant F-gas Reclamation Support for Home HVAC) pilot program will initially partner Hudson Technologies with refrigerant contractors participating in California Energy Commission’s (“CEC”) Equitable Building Decarbonization (“EBD”) Statewide Direct Install program for the purchase of recovered HFCs and HCFCs for reclamation. Additionally, Hudson will train the partnering refrigerant technicians in best practices for the safe and efficient recovery of refrigerants. The North American Sustainable Refrigerant Council (“NASRC”) is administering the program, which is funded through CARB’s F-gas Reduction Incentive Program (“FRIP”), a funding program established to alleviate barriers to adopting climate-friendly refrigerant technologies and to reduce emissions of HFCs, in part by identifying opportunities to increase the recovery and reclamation of existing high-GWP refrigerants. Up to
Kate Houghton, Senior Vice President, Sales & Marketing for Hudson commented, “We are very pleased to have been selected as a partner for CARB’s groundbreaking REFRESH program. CARB and the state of California are longstanding proponents of the adoption of recovery and reclamation processes and technology with the goal of reducing emissions from existing refrigerants while the industry conducts an orderly transition to the use of next-generation lower GWP refrigerants and equipment. This is the second innovative recovery and reclamation program that Hudson has been chosen to partner with, and we believe our selection demonstrates the value of our expertise, proprietary technology and reputation for excellent customer service. We look forward to working with CARB for the success of the REFRESH program and we are optimistic that Hudson will continue to see new opportunities as more state and local governments adopt legislation mandating the use of reclaimed refrigerant.”
The REFRESH pilot program will launch in early 2026.
About Hudson Technologies
Hudson Technologies, Inc. is a leading provider of innovative and sustainable refrigerant products and services to the Heating Ventilation Air Conditioning and Refrigeration industry. For nearly three decades, we have demonstrated our commitment to our customers and the environment by becoming one of the first in the United States and largest refrigerant reclaimers through multimillion dollar investments in the plants and advanced separation technology required to recover a wide variety of refrigerants and restoring them to Air-Conditioning, Heating, and Refrigeration Institute standard for reuse as certified EMERALD Refrigerants™. The Company's products and services are primarily used in commercial air conditioning, industrial processing and refrigeration systems, and include refrigerant and industrial gas sales, refrigerant management services consisting primarily of reclamation of refrigerants and RefrigerantSide® Services performed at a customer's site, consisting of system decontamination to remove moisture, oils and other contaminants. The Company’s SmartEnergy OPS® service is a web-based real time continuous monitoring service applicable to a facility’s refrigeration systems and other energy systems. The Company’s Chiller Chemistry® and Chill Smart® services are also predictive and diagnostic service offerings. As a component of the Company’s products and services, the Company also generates carbon offset projects.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
Statements contained herein which are not historical facts constitute forward-looking statements. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, but are not limited to, changes in the laws and regulations affecting the industry, changes in the demand and price for refrigerants (including unfavorable market conditions adversely affecting the demand for, and the price of, refrigerants), the Company's ability to source refrigerants, regulatory and economic factors, seasonality, competition, litigation, the nature of supplier or customer arrangements that become available to the Company in the future, adverse weather conditions, possible technological obsolescence of existing products and services, possible reduction in the carrying value of long-lived assets, estimates of the useful life of its assets, potential environmental liability, customer concentration, the ability to obtain financing, the ability to meet financial covenants under existing credit facilities, any delays or interruptions in bringing products and services to market, the timely availability of any requisite permits and authorizations from governmental entities and third parties as well as factors relating to doing business outside the United States, including changes in the laws, regulations, policies, and political, financial and economic conditions, including inflation, interest and currency exchange rates, of countries in which the Company may seek to conduct business, the Company’s ability to successfully integrate any assets it acquires from third parties into its operations, and other risks detailed in the Company's 10-K for the year ended December 31, 2024 and other subsequent filings with the Securities and Exchange Commission. The words "believe", "expect", "anticipate", "may", "plan", "should" and similar expressions identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made.
| Investor Relations Contact: John Nesbett/Jennifer Belodeau IMS Investor Relations (203) 972-9200 hudson@imsinvestorrelations.com | Company Contact: Brian Bertaux, CFO Hudson Technologies, Inc. (845) 735-6000 bbertaux@hudsontech.com |
FAQ
What did Hudson Technologies announce about the CARB REFRESH pilot on December 9, 2025?
How much funding is available for the REFRESH pilot that involves HDSN?
When will the CARB REFRESH pilot with Hudson (HDSN) begin?
How will Hudson (HDSN) participate operationally in the REFRESH program?
Which partners are involved with Hudson in the REFRESH pilot program?
