CC - Chemours plans $200M spending to support hydrogen demand

Chemours ( NYSE: CC ) +6.2% in Monday's trading after saying it will spend $200M to increase capacity and advance technology for its Nafion ion exchange materials to support rising demand for hydrogen power.

Chemours ( CC ) said its investment "will support growing market demand for clean hydrogen generation using water electrolyzers, energy storage in flow batteries, and hydrogen conversion to power fuel cell vehicles of the future."

"The hydrogen economy is at a critical juncture, and investment is needed to support our strategic partners to deliver against those ambitious goals," according to Denise Dignam, president of the company's Advanced Performance Materials unit.

Chemours ( CC ) said the $200M will focus on its Nafion ion exchange materials technology platform, whose chemical properties can help generate clean hydrogen from water electrolysis.

Seeking Alpha contributor Wolf Report now sees Chemours ( CC ) as a Buy .

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