Hudson Technologies Signs Joint Development Agreement with Icorium; Expands Commitment to Commercialize and Scale Patented Extractive Distillation Technology

A new joint development deal gives Hudson exclusive early access to Icorium’s patented refrigerant separation platform and potential capacity enhancements.

Rhea-AI Summary

Hudson Technologies (HDSN) signed a joint development agreement with Icorium Company to commercialize Icorium’s patented extractive distillation technology for refrigerant recovery.

The collaboration is expected to complement Hudson’s existing fractional distillation systems by enabling single‑stream processing of complex refrigerant mixtures, including azeotropes, with higher yield and throughput. The agreement grants Hudson dedicated access to Icorium’s engineering resources and refrigerant separation intellectual property, as well as exclusivity and first‑mover advantages during the initial commercialization period and early access to additional separation technologies, potentially supporting expansion into new markets and a more circular refrigerant supply chain.

Positive

• Joint development agreement gives Hudson dedicated access to Icorium engineering resources and related refrigerant separation IP
• Exclusivity and first-mover advantages granted to Hudson during the initial commercialization period
• Technology targets faster, higher-yield processing of complex refrigerant mixtures, including azeotropes
• Operational benefits include allowing contractors to combine refrigerants in cylinders and accelerating conversion to saleable product
• Early access to additional separation technologies may support expansion into new refrigerant markets and circular supply chains

Negative

• None.

News Explained

The signed agreement remains a development-stage effort: Hudson describes the extractive technology as under development and frames faster, higher-yield processing as a pursued capability rather than a reported operating result.

Market Context

On Aug 05, HDSN fell 9.08% after its preliminary Icorium partnership was disclosed alongside weaker ...

Analysis

On Aug 05, HDSN fell 9.08% after its preliminary Icorium partnership was disclosed alongside weaker quarterly profitability. The current signed agreement provides a documented progression from planned cooperation to a formal joint development arrangement.

Historical Context

1 past event · Latest: Aug 05

1 event

1. Aug 05

   Icorium partnership

   24h Move

   -9.1%

   Preliminary Icorium partnership was announced alongside weaker second-quarter profitability results

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

extractive distillation, azeotropes, ionic liquid-based extractive distillation, hollow fiber membranes, +1 more

5 terms

extractive distillation technical

"commercialization of Icorium’s patented extractive distillation technology"

Extractive distillation is a chemical separation method that adds a solvent to a mixture so one component boils at a different rate, letting two or more substances be separated more easily in a distillation column. Think of it as adding a helper liquid that changes how sticky the parts are to make them come apart, like using a solvent to loosen glued pieces. Investors care because it affects production costs, capital requirements, plant design, and regulatory or environmental risks tied to chemical handling and energy use.

azeotropes technical

"split complicated refrigerant mixtures into their core components - including azeotropes"

Azeotropes are liquid mixtures of two or more chemicals that boil and vaporize at a constant composition, behaving like a single pure substance during boiling. Think of it as a blended drink that always evaporates with the same flavor proportions; because their composition doesn’t separate by simple distillation, azeotropes matter to investors for manufacturing efficiency, costs of solvent recovery, product purity, safety rules, and regulatory or transport classifications tied to chemical behavior.

ionic liquid-based extractive distillation technical

"built on ionic liquid-based extractive distillation, hollow fiber membranes"

Ionic liquid-based extractive distillation is a chemical separation technique that uses an ionic liquid—a salt that is liquid at low temperatures—as a special solvent added to a boiling mixture to change how easily components vaporize, allowing two substances with similar boiling points to be separated. Think of the ionic liquid as a sticky helper that makes one component easier to boil off while keeping the other behind. It matters to investors because the method can affect manufacturing efficiency, energy use, equipment costs, environmental footprint, and the commercial viability of chemical processes or licensing opportunities.

hollow fiber membranes technical

"ionic liquid-based extractive distillation, hollow fiber membranes and pressure swing adsorption"

Hollow fiber membranes are tiny, tube-shaped polymer filters with a porous wall that lets certain fluids or particles pass through while blocking others; they look like bundles of microscopic drinking straws. Used in applications such as medical dialysis, water purification, and biomanufacturing, they matter to investors because their performance, durability, and manufacturing cost directly affect product effectiveness, regulatory approval, and margin potential in companies that make or use filtration-based devices and processes.

pressure swing adsorption technical

"hollow fiber membranes and pressure swing adsorption using porous materials"

A mechanical process that separates specific gases from a mixture by passing the gas stream through porous solid materials (adsorbents) that selectively trap one component under pressure, then release it when the pressure is lowered. It matters to investors because it's a common, energy‑efficient way to make industrial and medical gases (like oxygen, nitrogen, or hydrogen) and to capture CO2, so companies that build, operate, or sell equipment using this technology can affect supply, costs, and regulatory compliance; think of it as a reusable sieve that alternately fills and empties to collect a chosen gas.

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Technology Partnership Targets a Potential Step-Change in Refrigerant Recovery and Separation Efficiency

WOODCLIFF LAKE, N.J., Sept. 17, 2026 (GLOBE NEWSWIRE) -- Hudson Technologies, Inc. (NASDAQ: HDSN) announced it has signed a joint development agreement with Icorium Company for the commercialization of Icorium’s patented extractive distillation technology.

The collaboration is expected to broaden and complement Hudson’s existing fractional distillation systems with the potential for rapid and more complete processing of more complex refrigerant compositions through Icorium’s single-stream extractive method. The technology under development pursues the ability to split complicated refrigerant mixtures into their core components - including azeotropes – with a yield and throughput previously unknown in the industry. The ability to separate and purify traditionally difficult refrigerant blends will simplify recovery of used refrigerants by allowing contractors to combine refrigerants in cylinders, reducing onsite recovery time and also enabling Hudson to extract the maximum refrigerant possible from every pound of refrigerant recovered, thereby producing a faster transition from stock to saleable product.

The joint development agreement provides Hudson with dedicated access to Icorium’s engineering resources, access to Icorium intellectual property related to refrigerant separation technologies, exclusivity and first-mover advantages during the initial commercialization period, as well as early access to additional separation technologies which may create further opportunities for expansion into new markets.

Ken Gaglione, President and Chief Executive Officer of Hudson Technologies commented, “This agreement marks a significant milestone for us as we execute our strategy to expand our offerings beyond traditional refrigerant sales and reclamation to include a premier technology-driven platform for recovery, purification, and separation services. With Icorium’s technology, we seek to separate complex refrigerant blends with greater speed and efficiency than traditional fractional distillation, substantially enhancing our capabilities and capacity. The ability to convert a broader range of refrigerants into saleable product would create a differentiated competitive advantage for Hudson as our industry moves from conventional to next-generation equipment and refrigerants.”

“We are excited to work with Hudson to scale our patented distillation technology to broaden and support the practice of refrigerant recovery and reclamation. Hudson and Icorium share a commitment to promoting and facilitating responsible refrigerant management. The combination of Hudson’s scale and market reach with our technology may open meaningful commercialization pathways in the continued development of a circular refrigerant supply chain,” commented Dr. Kalin Baca, co-Founder and CEO of Icorium.

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 for data centers and a wide range of other industrial applications. As a component of the Company’s products and services, the Company also generates carbon offset projects.

About Icorium

Icorium is an advanced separation technology company redefining refrigerant reclamation. Its proprietary separation technology, built on ionic liquid-based extractive distillation, hollow fiber membranes and pressure swing adsorption using porous materials, recovers high-purity refrigerants from complex mixtures that would otherwise be stockpiled, destroyed or released into the atmosphere. This scalable platform helps the industry meet evolving environmental regulations, reduce waste and advance toward a circular refrigerant economy. Founded in 2022 as a University of Kansas spinout, Icorium is headquartered at KU Innovation Park in Lawrence, Kan., and has earned national recognition for its innovation, including National Science Foundation funding and multiple startup awards. Learn more at icorium.us.

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 its existing credit facility, 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, 2025 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 jnesbett@imsinvestorrelations.com

Company Contact: Brian Bertaux, CFO Hudson Technologies, Inc. (845) 735-6000 bbertaux@hudsontech.com

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How does Icorium’s extractive distillation technology differ from traditional fractional distillation for refrigerants?

Icorium’s technology uses a single-stream extractive distillation method aimed at rapidly and more completely processing complex refrigerant compositions, including azeotropes, with a yield and throughput described as previously unknown in the industry. It targets the ability to split complicated mixtures into core components and to separate and purify traditionally difficult refrigerant blends that are challenging for conventional fractional distillation systems.

What practical benefits could this technology bring to Hudson’s refrigerant recovery operations?

The technology under development is expected to simplify recovery of used refrigerants by allowing contractors to combine different refrigerants in cylinders, reducing onsite recovery time. It also aims to enable Hudson to extract the maximum refrigerant possible from every pound recovered, supporting a faster transition from recovered stock to saleable product and potentially enhancing Hudson’s capabilities and capacity.

How does this agreement align with Hudson Technologies’ strategic goals?

Hudson’s leadership describes the agreement as a milestone in its strategy to expand beyond traditional refrigerant sales and reclamation into a technology-driven platform for recovery, purification and separation services. The company expects the ability to convert a broader range of complex refrigerants into saleable product to create a differentiated competitive position as the industry shifts from conventional to next-generation equipment and refrigerants.

What role does this partnership play in advancing a circular refrigerant supply chain?

Icorium’s separation platform is designed to recover high-purity refrigerants from complex mixtures that might otherwise be stockpiled, destroyed, or released into the atmosphere. Combined with Hudson’s scale and market reach, the companies state that the collaboration may open commercialization pathways that support responsible refrigerant management, reduce waste, and advance development of a more circular refrigerant economy.