Benzinga | Jun 29, 2021 09:05AM EDT

Hudson Technologies Wins 5-Year Renewal Award For Dept. Of Defense Contract, Extends Total Contract Period To 10 Years

Hudson Technologies, Inc. (NASDAQ:HDSN) announced today that the United States Defense Logistics Agency ("DLA") has exercised its renewal option to contract Hudson for an additional five years as the prime contractor for the management and supply of refrigerants, compressed gases, cylinders and related items to US Military Commands and Installations, Federal civilian agencies and Foreign Militaries. The contract renews the Company's original five-year agreement entered into with the DLA in July 2016 and represents a potential total of $400 million in sales to the Department of Defense ("DoD") over the total 10 year contract period. The renewal is a firm-fixed-price contract with quarterly economic price adjustments subject to indefinite delivery, indefinite quantity ("IDIQ"). The primary users include the US Army, Navy, Air Force, Marine Corps and Coast Guard.

Brian F. Coleman, CEO of Hudson Technologies, commented, "We are in the process of completing our fifth year supporting the DoD, and have received exceptional ratings across all of the performance categories measured by the agency. This renewal is an indication of the strength of our capabilities as a strategic supply partner and the success of our partnership with DoD. We're pleased to have secured a continuation of our contract to provide critical industrial and refrigerant gases to the wide range of locations and facilities the DoD oversees."