Hudson Technologies Selected as Reclamation Provider for California's REFRESH Program
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 09 2025
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Hudson Technologies has been named, after a competitive process, as one of two reclamation providers to participate in the California Air Resources Board's REFRESH pilot program, the state's first program to incentivize refrigerant recovery and reclamation. The REFRESH pilot program will initially partner Hudson Technologies with refrigerant contractors participating in California Energy Commission's Equitable Building Decarbonization Statewide Direct Install program for the purchase of recovered HFCs and HCFCs for reclamation. Additionally, Hudson will train the partnering refrigerant technicians in best practices for the safe and efficient recovery of refrigerants. The North American Sustainable Refrigerant Council is administering the program, which is funded through CARB's F-gas Reduction Incentive Program, a funding program established to alleviate barriers to adopting climate-friendly refrigerant technologies and to reduce emissions of HFCs, in part by identifying opportunities to increase the recovery and reclamation of existing high-GWP refrigerants. Up to $5M of FRIP funding is available for the REFRESH pilot to directly fund the buyback of recovered refrigerant and to support administrative and labor costs.
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Analyst Views on HDSN
Wall Street analysts forecast HDSN stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for HDSN is 9.50 USD with a low forecast of 9.00 USD and a high forecast of 10.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
3 Analyst Rating
1 Buy
2 Hold
0 Sell
Moderate Buy
Current: 7.140
Low
9.00
Averages
9.50
High
10.00
Current: 7.140
Low
9.00
Averages
9.50
High
10.00
About HDSN
Hudson Technologies, Inc. is a refrigerant services company. The Company provides solutions to recurring problems within the refrigeration industry. The Company provides environmentally sustainable solutions from the initial sale of refrigerant gas through recovery, reclamation and reuse, peak operating performance of equipment through air conditioning and refrigeration system repair, to final refrigerant disposal and carbon credit trading. 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. The Company’s SmartEnergy OPS service is a Web-based real-time continuous monitoring service applicable to a facility’s refrigeration systems and other energy systems.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Hudson Technologies Acquires Refrigerants Inc. for $2.5 Million
- Acquisition Expansion: Hudson Technologies has acquired EPA-certified reclaimer Refrigerants Inc. for $2.5 million, which will enhance its sales and recovery capabilities in key markets, thereby increasing the company's market share in the refrigeration industry.
- Market Integration: This acquisition will allow Hudson Technologies to tap into Refrigerants Inc.'s long-standing customer base, expected to increase the volume of recovered refrigerants and further solidify its leadership position in the reclamation industry.
- Strategic Consistency: The CEO of Hudson Technologies noted that this acquisition aligns with the company's previous accretive acquisitions aimed at driving organic growth by expanding access to sources of recovered refrigerants.
- Regulatory Impact: With the AIM Act's phasedown of HFC refrigerant supply, the acquisition of Refrigerants Inc. will strengthen Hudson Technologies' competitive edge in adapting to market changes, ensuring its critical role in sustainable refrigerant management.
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Hudson Technologies Acquires Refrigerants Inc. for $2.5 Million
- Acquisition Expansion: Hudson Technologies has acquired Refrigerants Inc. for $2.5 million, which will enhance its position in the refrigerant reclamation market; although the deal is immaterial to financial results, it will expand access in key markets.
- Market Demand Response: With the AIM Act's phase-down of HFC refrigerant supply, the acquisition of Refrigerants Inc. will enable Hudson Technologies to better meet the market's demand for reclaimed refrigerants, thereby enhancing its competitive edge in the industry.
- Customer Base Enhancement: This acquisition will provide Hudson Technologies access to Refrigerants Inc.'s longstanding customer base, which is expected to increase the volume of reclaimed refrigerants and further solidify its leadership position in the reclamation industry.
- Strategic Consistency: Hudson's CEO noted that this acquisition aligns with the company's previous accretive acquisitions aimed at driving organic growth by expanding access to sources of reclaimed refrigerants.
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