Month: January 2025

Originally published by Investment Reports

Could you provide an overview of what’s currently happening at Chemours, especially regarding your transition to the CEO role?

Things are going very well at Chemours, especially from a cultural standpoint. The disruptions we faced were isolated incidents involving a few people and did not affect the entire company. My transition has been overwhelmingly supported by the organization, as I have been with Chemours and its predecessor for 36 years. Being a chemical engineer by training, my background brought comfort to the company during this leadership change. Upon my arrival, we took the opportunity to reset our values and engaged the entire organization, with 2,400 employees participating in shaping our new values, focusing on safety, integrity, partnership, ownership, and respect.

How has the demand for performance materials shifted, particularly within the semiconductor industry, and what role does Chemours play in this?

We recognize the growing trend of bringing manufacturing capabilities back to the U.S., especially in the semiconductor industry – we’re the only domestic manufacturer of a critical material, PFA resin. This shift presents a major opportunity for us due to our expertise in producing products with the highest levels of purity, which is critical for semiconductor manufacturing. Whether it’s in lithography tools or the chemical distribution systems used in chip fabrication, the quality of our materials plays a vital role in ensuring chip production efficiency and improving yields for our downstream customers.

We’ve also invested heavily in understanding our customers’ evolving needs. The semiconductor industry is incredibly precise, with even the smallest impurity having the potential to disrupt production. That’s why we’ve focused on innovation to ensure our materials meet the highest standards of purity. Our goal is to continue driving productivity improvements for our customers by closely listening to their requirements and pushing forward in our research and development efforts.

Do you anticipate the chemical industry’s R&D investment increasing as companies target high-value segments like semiconductors?

While some segments of our business, such as the titanium dioxide (TiO2) division, don’t require significant product innovation, we are investing heavily in the areas where we see growth potential. For example, we built a state-of-the-art facility on the University of Delaware’s STAR campus, focusing on clean energy technologies like hydrogen, fuel cells, and flow batteries. Most recently we invested millions into a new battery lab to enable more sustainable, cost-effective, energy-efficient, and high-performing batteries for hybrid and electric vehicles. This focus on innovation is crucial for staying competitive in high-growth sectors. While it might seem like a smaller percentage when compared to some other industries, our investments in advanced electronics and energy solutions are substantial and reflect our commitment to staying at the forefront of the industry.

Can you tell us more about some of the next-generation technologies Chemours is developing, such as for advanced lithography processes and liquid cooling for data centers?

One of the most exciting areas we are working on is two-phase immersion cooling for data centers, which is quickly becoming viewed as the future of cooling. Today, most data centers rely on air cooling, but we’ve developed a fluid in which entire servers are immersed. Our immersion cooling lab has been running tests with our Opteon™ 2P50 developmental fluid for over two years now without experiencing the degradation or hardware corrosion current liquid cooling solutions face. We’ve tested our fluid rigorously to ensure its reliability, even under challenging conditions. Beyond liquid cooling, we’re also innovating in our technologies that serve the semiconductor industry. For example, we’ve expanded our manufacturing capabilities at our Washington Works site to further support domestic semiconductor production. Our team recently launched a new production line for high-quality Teflon™ PFA materials used in semiconductors, and the results have been fantastic. We’re also working on advancing cable materials that can handle the demands of transmitting data quickly while withstanding heat and corrosive environments, making us a critical player in the high-speed data center and high-performance computing supply chain.

What is the role of chemistry in today’s world, and how important is it for people to understand its impact?

Chemistry is fundamental to nearly everything we have in our society today. Many people don’t realize that their everyday conveniences, such as smartphones and air travel, are made possible through advancements in chemistry. It is the foundation of countless innovations, and that connection between modern technology and chemical science needs to be better understood. I often find myself talking about chemistry at social events because I believe in spreading that awareness.

The chemicals industry is often two steps removed from the consumer, but its impact is far-reaching. Companies like INEOS in the UK have done a great job educating the public on this, and we should continue that effort globally. By emphasizing how chemistry drives progress, we can foster greater appreciation and understanding of its role in modern life.

How does Chemours stay ahead of its clients’ future needs, particularly in industries like semiconductors?

It is crucial to not only respond to current needs but also to anticipate future trends. At Chemours, we connect with a wide range of stakeholders, including not just our direct and downstream customers, but industry groups, universities, startups, and national laboratories, to stay ahead of industry shifts. We have dedicated roles within the company that focus on understanding trends and aligning our innovation strategy with future demands, particularly in sectors like semiconductors, where technology is constantly evolving. In addition to short-term planning, we also engage in long-term forecasting, looking 10 years ahead to ensure we remain competitive. This requires balancing the immediate pressures of being a public company with the need to invest in long-term strategies, such as our corporate responsibility commitments set in 2018. These commitments, aimed at addressing sustainability and innovation, have proven to be incredibly forward-thinking, reinforcing the importance of having a clear, long-term vision.

What is currently keeping you up at night regarding Chemours’ operations?

One of the biggest concerns is regulatory overreach, particularly the lack of alignment between different regulatory bodies. It’s not just a U.S. issue; we see it globally, especially in Europe. There’s often a disconnect between government policies aimed at fostering growth, such as the CHIPS Act or the Inflation Reduction Act, and the actual execution of these policies by regulatory agencies. This misalignment creates hurdles for companies like ours, making it difficult to secure permits and move forward with projects that are critical for supply chain resilience. This lack of coherence between economic development and regulatory frameworks introduces uncertainty, which can hinder long-term investments. For manufacturers, it is challenging to commit to projects when policies could drastically change with new political leadership.

How important is supply chain resilience to Chemours’ partners, particularly in the semiconductor industry?

Supply chain resilience is one of the top concerns for our partners, particularly in high-tech industries like semiconductors. It is critical to ensure that materials are available locally and that we can provide the certainty and quality needed to keep production on track. The President and CEO of industry group SEMI recently highlighted supply chain resilience as one of the top four issues facing the industry, and we agree wholeheartedly. The regionalization of supply chains and the uncertainty caused by global disruptions make it essential for companies like Chemours to establish reliable, local supply networks.

What are some of the key milestones Chemours is aiming for in the coming year, particularly regarding innovation?

We are expecting significant progress on our strategic initiatives, particularly in the area of advanced cooling technologies for data centers. One of our exciting innovations is two-phase immersion cooling developmental fluid that not only reduces cooling energy use by more than 90% when compared to conventional air cooling, but also nearly eliminates water usage and cuts footprint size significantly. This technology addresses key challenges in data center management and we’re moving toward a commercial production plan. In addition to that, we are continuing to focus on other key areas, including next-generation refrigerants, advanced electronics, and clean energy solutions.

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Authored by Baker Tilly’s Ben Hobby, Christopher J. Tait, Jeff Krull, Bernard Regan and Brian Nichols

As we step into 2025, Baker Tilly has once again gathered to forecast the key cyber trends and challenges that lie ahead. We invite you to download our 2025 cyber predictions e-book, where we explore the evolving landscape of cybersecurity. This year, we focus on the increasing sophistication of attack vectors, the growing risk of catastrophic cyber events related to insider threats and the critical importance of consumers being better protected on their personal devices. Join us as we explore these and other pivotal topics in our 2025 cyber predictions e-book, examining the transformative realities shaping the cybersecurity world.

Sneak peek: discover what’s inside Baker Tilly’s 2025 cyber predictions

In this e-book, we examine the intricacies of modern cybersecurity threats and the innovative defense mechanisms being developed to counter them. One of the key highlights is the increasing sophistication of attack vectors. Cybercriminals are continually evolving their tactics, making it imperative for organizations to stay ahead of the curve. We discuss the latest advancements in malware, ransomware and phishing attacks, providing insights into how these threats are becoming more complex and harder to detect.

Another critical area of focus is the growing risk of catastrophic cyber events related to insider threats. Insider threats, whether malicious or accidental, pose a significant risk to organizations. The e-book explores various case studies and real-world examples of insider threats that have led to substantial financial and reputational damage. We also provide strategies and leading practices for mitigating these risks, emphasizing the importance of robust security policies, employee training and advanced monitoring systems.

The e-book also underscores the critical importance of protecting consumers on their personal devices. With the proliferation of smartphones, tablets and other connected devices, consumers are more vulnerable than ever to cyberattacks. We examine the latest trends in mobile security, including the rise of mobile malware and the increasing use of mobile devices for phishing attacks. Additionally, we offer practical tips and recommendations for consumers to safeguard their personal information and maintain their privacy in an increasingly connected world.

Furthermore, the 2025 cyber predictions e-book revisits past predictions to assess their accuracy and impact. For instance, in 2024, there was a significant focus on vendor risk management due to the mass shift to the cloud, which brought about considerable cybersecurity risks. This trend is expected to continue in 2025, with companies prioritizing closer-than-ever cyber assessments of their third- and fourth-party vendors. We analyze how these predictions have played out and what lessons can be learned for the future.

The e-book also explores the impacts of new cybersecurity threats and defense systems on the insurance market. As cyber threats become more prevalent and sophisticated, the insurance industry must adapt to provide adequate coverage and support for affected organizations. We discuss the latest trends in cyber insurance, including the challenges of underwriting policies in an ever-changing threat landscape and the importance of continuous adaptation and vigilance.

Authored by Ben Hobby, Christopher Tait, Jeff Krull, Bernard Regan and Brian Nichols, the 2025 cyber predictions e-book is a must-read for anyone interested in staying ahead of the curve in the cybersecurity world. It provides a wealth of information, practical advice, and expert insights to help organizations and individuals navigate the complex and ever-evolving landscape of cybersecurity.

Interested in learning more? Contact a Baker Tilly specialist.

ESG Talk hosts Mandi McReynolds, Steve Soter, Andie Wood, and Alyssa Zucker come together for the season four premiere to reflect on the transformative year of 2024 and discuss the key sustainability, governance, and technological trends shaping 2025. Listen in for actionable insights for turning complexity into opportunity in the year ahead!

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ESG Talk is brought to you by Workiva, the world’s only unified platform for financial reporting, ESG, audit, and risk. Learn more at workiva.com.

Whirlpool Corporation has been named to the Dow Jones Sustainability World Index (DJSI) for the third consecutive year and the Dow Jones Sustainability North America Index for the 18th year. The DJSI recognizes global sustainability leaders identified by S&P Global through its Corporate Sustainability Assessment.

“Our continued inclusion in the Dow Jones Sustainability Index is a reflection of Whirlpool Corporation’s vision to improve life at home.” 

“Our continued inclusion in the Dow Jones Sustainability Index is a reflection of Whirlpool Corporation’s vision to improve life at home,” said Marc Bitzer, chairman and CEO of Whirlpool Corporation.“ Grounded in transparency and ethical business practices, and dedicated to the communities where we do business, our employees are committed to designing and manufacturing innovative – and increasingly sustainable – home appliances that help bring families together around the world.”

Whirlpool Corp. has long been a leader in global sustainability. One of its latest innovations, SlimTech™ insulation technology — the first vacuum-insulated structure (VIS) technology introduced in North America — fundamentally changes the design of refrigerators, increasing capacity by up to 25% while using materials that have the potential to be reclaimed. Last year, SlimTech™ was recognized by Fast Company with an “Innovation by Design” award.

This recognition also further highlights Whirlpool Corp.’s longstanding commitment to sustainable products and operations. As part of the company’s Design for Sustainability framework, Whirlpool Corp. works to embed reliability, repairability and durability into product development to increase an appliance’s sustainability without sacrificing performance while also reducing pollution and waste. The company is on track to achieve its commitment of Net Zero emissions in plants and operations by 2030 (scopes 1 and 2) and to reduce emissions from products in use (scope 3 category 11) by 20% by 2030, compared to a 2016 baseline.

Improving life at home also happens through support of homeownership and improving communities. This is reflected in Whirlpool Corp.’s 25-year relationship with Habitat for Humanity, which has positively impacted one million people around the world. The company has contributed more than $140 million dollars in funding and donated more than 241,000 major home appliances for Habitat homes. In the U.S., Habitat’s BuildBetter with Whirlpool program helped build 260 climate-resilient, energy-efficient homes for families who are in need of safe, affordable housing. These homes are designed to withstand climate disasters and equipped with energy- and cost-efficient appliances, proving that climate resilience can be both effective and affordable.

In 2024, the Whirlpool Foundation also began supporting The Washing Machine Project to provide manual washing machines in underserved communities. With 60% of the world relying on handwashing clothes, this initiative helps reclaim millions of hours for education, work, and personal growth for women and girls who disproportionately carry the burden of doing laundry for their families.

Whirlpool Corp. has received several notable recognitions for these efforts, including being named a Top Corporate Citizen of 2024, one of the best places to work for parents and disability inclusion, as well as earning a spot on Fortune’s list of the Most Admired Companies.

The DJSI, including the Dow Jones Sustainability World Index (DJSI World), was launched in 1999 as the pioneering series of global sustainability benchmarks available in the market. The index family is comprised of global, regional, and country benchmarks.

About Whirlpool Corporation

Whirlpool Corporation (NYSE: WHR) is a leading kitchen and laundry appliance company, in constant pursuit of improving life at home and inspiring generations with our brands. The company is driving meaningful innovation to meet the evolving needs of consumers through its iconic brand portfolio, including Whirlpool, KitchenAid, JennAir, Maytag, Amana, Brastemp, Consul, and InSinkErator. In 2023, the company reported approximately $19 billion in annual sales, 59,000 employees, and 55 manufacturing and technology research centers.  Additional information about the company can be found at WhirlpoolCorp.com.

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