The Chemours Company (CC - Free Report) announced that its low global-warming-potential (“GWP”) hydrofluoroolefin (HFO) refrigerant — Opteon XP40 (R-449A) — has been selected by E-mart for use in the latter’s refrigeration systems.
The adoption of Opteon XP40 refrigerant is expected to improve energy efficiency in E-mart stores across Asia Pacific. E-mart, the largest hypermarket chain in Korea, is expanding aggressively and is planning to have more than 200 stores operating with Opteon XP40 refrigerant by 2030.
Opteon XP40 offers a non-ozone depleting, low GWP HFO based refrigerant that is a replacement for R-404A, R-407A and R-22 in commercial refrigeration applications. It can reduce carbon dioxide emissions by 67% and boost energy efficiency by up to 12% compared with R-404A. Opteon XP40 can reduce carbon dioxide by 33% compared with R-407A.
The ability to reduce GWP and boost energy efficiency makes Opteon XP40 an optimal solution for retailers. This will enable them to stay ahead of global environmental regulations without compromising performance and long-term sustainability goals.
Opteon XP40 is part of a broad portfolio of refrigerant solutions for air conditioning, commercial refrigeration, chillers & heat pumps.
Shares of Chemours have lost 20.1% in the past year compared with the 10.5% decline recorded by the industry.
Zacks Rank & Key Picks
Chemours currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Kirkland Lake Gold Ltd. (KL - Free Report) , Ingevity Corp. (NGVT - Free Report) and Materion Corp. (MTRN - Free Report) , each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Kirkland has an expected earnings growth rate of 8.8% for 2019. The company’s shares have surged 89.8% in the past year.
Ingevity has an expected earnings growth rate of 17.9% for the current year. The company’s shares have rallied 53.4% in a year’s time.
Materion has an expected earnings growth rate of 12.6% for 2019. Its shares have gained 13.7% in a year’s time.
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