Company Announcements

Partnership to establish initial capacity & enable adoption of Opteon™ two-phase immersion cooling fluid to address data center cooling needs created by AI and next-generation chips

WILMINGTON, Del.--(BUSINESS WIRE)--May 6, 2025-- The Chemours Company (Chemours) (NYSE: CC), a global chemistry company, announced a strategic agreement with Navin Fluorine International Limited (Navin Fluorine) (NSE: NAVINFLUOR) to manufacture its Opteon™ two-phase immersion cooling fluid. The collaboration is part of Chemours' expanded Liquid Cooling Venture, established to address the growing heat, energy, and water demands of advanced data centers and AI hardware. The partnership with Navin Fluorine marks an important step toward commercialization, providing critical capabilities and capacity—beginning in 2026—to support the adoption of two-phase liquid cooling.

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"The fact is, next generation chips alone can’t deliver the AI boom; the computing and resource demands created by this technology requires a new, integrated approach. Our deep expertise in cooling uniquely positions us to help bridge this gap,” said Denise Dignam, Chemours President and CEO. “Innovative liquid cooling solutions, like Opteon™, can help significantly reduce data center total cost of ownership through decreased energy, water, space, maintenance and capex demands, all while enabling next generation chip capability. Partnering with Navin Fluorine enables us to meet this critical market need.”

The company’s proprietary Opteon™ fluid offers an ultra-low global warming potential (10), a power usage effectiveness (PUE) approaching 1, and superior performance capabilities compared to traditional or other liquid cooling technologies. Nearly eliminating water use, reducing space requirements by 60%, and lowering energy consumption by up to 40% and cooling energy use by up to 90%, this technology represents benefits for data center operators and communities alike.

The agreement with Navin Fluorine will bring this innovative technology to market quickly and efficiently.

"Joining forces with Chemours to manufacture their new liquid cooling technology advances our mission to produce high-quality, innovative, and sustainable, high-growth-potential products in the specialty chemicals sector, while helping address a key industry challenge for data centers,” said Vishad Mafatlal, Navin Fluorine, Executive Chairman. “We’re excited to see this project come to fruition and look forward to continuing to deepen our partnership to meet the needs of the broader industry.”

The Opteon™ two-phase immersion cooling fluid is part of Chemours’ newly expanded Liquid Cooling Venture, which will leverage more than 90-years of expertise in thermal management to provide a comprehensive portfolio of data center cooling solutions, including direct-to-chip and immersion cooling technologies. For more information, visit Opteon.com.

About The Chemours Company
The Chemours Company (NYSE: CC) is a global leader in providing industrial and specialty chemicals products for markets, including coatings, plastics, refrigeration and air conditioning, transportation, semiconductor and advanced electronics, general industrial, and oil and gas. Through our three businesses –Thermal & Specialized Solutions, Titanium Technologies, and Advanced Performance Materials – we deliver application expertise and chemistry-based innovations that solve customers’ biggest challenges. Our flagship products are sold under prominent brands such as Opteon™, Freon™, Ti-Pure™, Nafion™, Teflon™, Viton™, and Krytox™. Headquartered in Wilmington, Delaware and listed on the NYSE under the symbol CC, Chemours has approximately 6,000 employees and 28 manufacturing sites and serves approximately 2,500 customers in approximately 110 countries. For more information, visit chemours.com or follow us on LinkedIn.

About Navin Fluorine International Limited
Navin Fluorine International Ltd (NSE: NAVINFLUOR) is one of the largest and the most respected Indian manufacturers of specialty fluorochemicals. It belongs to the Padmanabh Mafatlal Group – one of India’s oldest industrial houses. Established in 1967, NFIL operates one of the largest integrated fluorochemicals complexes in India with manufacturing locations at Surat and Dahej in Western India and Dewas in Central India. NFIL’s R&D center, Navin Research Innovation Center (NRIC), is located at Surat and Dewas, India and Manchester Organics, UK. Navin Fluorine has three strategic business verticals: High Performance Products, Specialty and Contract Development and Manufacturing Organization (CDMO). Navin Fluorine is ISO 9001 certified for quality, ISO 14001 certified for environment management, and OHSAS-18001 accreditation for safety management, along with various other industry accreditations and certifications. To learn more, please visit https://www.nfil.in/

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, new product development and expected contributions to advancing the data center energy efficiency, improving sustainability, circularity, decreasing environmental footprint, plans to continue investment in research and development, 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. 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, geopolitical conditions and global health events, and changes in environmental regulations in the U.S. or other jurisdictions that affect demand for or adoption of our products, 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, 2025, and in our Annual Report on Form 10-K for the year ended December 31, 2024. Chemours assumes no obligation to revise or update any forward-looking statement for any reason, except as required by law.

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CHEMOURS:

INVESTORS
Brandon Ontjes
Vice President, Head of Strategy & Investor Relations
+1.302.773.3300
investor@chemours.com

NEWS MEDIA
Cassie Olszewski
Media Relations & Reputation Leader
+1.302.219.7140
media@chemours.com

NAVIN:

INVESTORS:

Navin Fluorine International Ltd.
CIN: L24110MH1998PLC115499
Mr. Anish Ganatra
Chief Financial Officer
anish.ganatra@nfil.in
www.nfil.in

MUFG Intime India Private Limited
A part of MUFG Corporate Markets, a division of MUFG Pension & Market Services
Ms. Payal Dave
payal.dave@in.mpms.mufg.com

Source: The Chemours Company