Chemours (CC) and the US Department of Justice said Wednesday that the company has reached a multi-state settlement with the US Environmental Protection Agency to resolve claims related to PFAS discharges and other alleged environmental compliance violations.
The DOJ added that the cost of the penalty plus injunctive relief programs is estimated to exceed $450 million. The West Virginia Department of Environmental Protection is also a party to the settlement, they added.
The complaint alleges that Chemours facilities in West Virginia, North Carolina, and New Jersey discharged PFAS, which are synthetic "forever chemicals," into the Ohio, Cape Fear, and Delaware rivers. It also alleges that Chemours failed to comply with requirements under the Toxic Substances Control Act at four facilities. These violations allegedly continued for more than a decade, the DOJ said.
Under the agreement, Chemours said it agreed to pay a $22.5 million civil penalty to the EPA and WVDEP, including $15 million that had already been accrued. The penalty will be paid in three annual installments in 2026, 2027, and 2028, starting within 30 days after court approval of the settlement, the company said.
Shares of Chemours rose about 2.7% in the session.
Price: $20.50, Change: $+0.54, Percent Change: +2.71%