Hudson Technologies Ranked No. 5 on Forbes 100 Best Small Companies List for 2023

WOODCLIFF LAKE, N.J., Jan. 09, 2023 (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 – today announced that it was ranked number 5 on the 2023 Forbes List of the 100 Best Small Companies in America. The list may be accessed at:

https://www.forbes.com/lists/best-small-cap-companies/?sh=22c7585e47db

Forbes used data from FactSet to compile its annual list of America’s Best Small Companies by screening more than 1,000 companies with a market value between $300 million and $2 billion to find 541 companies that also had positive sales growth over the past 12 months and a share price of at least $5. Financial institutions, REITs, utilities, royalty trusts and limited partnerships were excluded, as were companies that have been public for less than one year. The ranking is based on earnings growth, sales growth, return on equity and total stock return for the latest 12 months available and over the last five years. Forbes gave more weight to the latest year’s data in the ranking. All data is as of November 11, 2022.

Brian F. Coleman, President and Chief Executive Officer of Hudson Technologies commented, “We’re pleased to have received a top five ranking on the Forbes 100 Best Small Companies list and are grateful for this distinction and recognition. This achievement is a testament to the efforts of our employees across the Company in delivering on the unique capabilities and service that Hudson offers our customers and industry partners.”

About Hudson Technologies         

Hudson Technologies, Inc. (the “Company”) 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 system 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, the impact of the current COVID-19 pandemic, and other risks detailed in the Company's 10-K for the year ended December 31, 2021 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:		Company Contact:
John Nesbett/Jennifer Belodeau		Brian F. Coleman, President & CEO
IMS Investor Relations		Hudson Technologies, Inc.
(203) 972-9200		(845) 735-6000
jnesbett@institutionalms.com		bcoleman@hudsontech.com