Hudson Technologies is a refrigerant services company focused on buying, reclaiming, and reselling refrigerants to commercial and industrial customers in the HVAC and refrigeration industry. Hudson's core business is purchasing used or contaminated refrigerants from HVAC contractors, purifying them to AHRI purity standards through its reclamation operations, and reselling them at prevailing market prices. Reclaimed refrigerant costs less to source than virgin (newly manufactured) refrigerant, so it generates higher margins. Hudson also distributes virgin refrigerants, provides on-site refrigerant management services (system decontamination, recovery, and efficiency monitoring) under its RefrigerantSide brand, and serves as a prime contractor supplying refrigerants and industrial gases to the U.S. military under a Defense Logistics Agency contract. Hudson's earnings are heavily driven by HFC refrigerant market prices, which fluctuate based on supply-demand dynamics, tariffs, and seasonal cooling demand — the business is concentrated in Q2 and Q3. Longer term, Hudson is positioned to benefit from the AIM Act's mandated phase-down of virgin HFC production, which is expected to tighten supply and increase reliance on reclaimed refrigerants for servicing the large installed base of HFC equipment. An EPA rule finalized in 2024 will mandate use of reclaimed HFCs in certain sectors starting in 2029. Hudson's growth strategy includes expanding reclamation capacity, growing its contractor recovery network, and pursuing bolt-on acquisitions to broaden geographic reach.