US-based Dow Chemical and Occidental Chemical (OxyChem) is set to form a joint venture (JV) to manufacture and market a new chlorocarbon solution to meet the growing demand for climate-friendly refrigerants.
The new chlorocarbon, known as HCC-1230xa, will produce the next generation refrigerant, HFO-1234yf, that boasts low global warming potential (GWP) and zero ozone depletion potential (ODP).
HFO-1234yf is approved by the US Environmental Protection Agency and meets European Union regulatory requirements for automobile air conditioning systems.
The collaboration is subject to negotiation and execution of definitive agreements and certain other customary conditions to closing for transactions.
