Empire State Development to support the investment with up to $1.4 million in performance-based tax credits through New York’s Excelsior Jobs Program
Investment intended to strengthen Solstice’s innovation capabilities supporting refrigerants, advanced cooling and other high-growth applications
MORRIS PLAINS, N.J., Oct. 9, 2026 /PRNewswire/ — Solstice Advanced Materials (Nasdaq: SOLS), a global leader in high-performance specialty materials, today announced plans to invest $49 million to expand research and development (R&D) capabilities at its Buffalo, New York facility. The investment is intended to enhance Solstice’s ability to develop and commercialize next-generation technologies for high-growth markets and is supported by up to $1.4 million in performance-based tax credits from New York State.
The investment will go toward establishing a next-generation innovation platform at Solstice’s Buffalo research campus. The upgrades will include expanded capabilities for refrigerant and thermal management research, enhanced toxicological testing to support the efficient development of new technologies and the construction of a lab for advanced energy storage materials.
“Innovation is one of the core reasons customers choose Solstice, and these investments will strengthen our ability to develop and commercialize the next generation of advanced materials,” said David Sewell, President and Chief Executive Officer of Solstice. “Buffalo has played an important role in our innovation efforts for decades, and these projects will expand the site’s capabilities in areas aligned with long-term growth trends. By investing in Buffalo, we are helping advance the solutions our customers need while supporting future growth across critical industries.”
“New York continues to be a magnet for the industries of tomorrow, and Solstice’s decision to anchor its premier R&D facility right here in Buffalo proves that our economic strategy is working,” said Kathy Hochul, Governor of New York State. “This $49 million investment will create good-paying jobs, foster cutting-edge research and keep New York at the forefront of the green technology revolution.”
“This investment will accelerate the innovation our customers and critical industries depend on while creating new opportunities for growth in Buffalo,” said Tom Isberg, Vice President, R&D, Solstice. “By expanding our R&D capabilities here, we are strengthening Solstice’s proven hub for advancing next-generation solutions from lab to market. We are grateful for the support of New York State and Empire State Development, whose partnership is helping strengthen Buffalo’s long-standing role as a center for scientific innovation and research.”
The Buffalo site employs approximately 180 scientists, engineers and support staff and has been at the forefront of advanced materials innovation since the facility opened in 1955. Research conducted at the site has resulted in more than 3,700 patents globally and has helped develop technologies used around the world for energy-efficient cooling, specialty materials and advanced manufacturing applications. Notably, the site played a leading role in the development of multiple generations of widely adopted refrigerant technologies.
As part of the project, Solstice has committed to creating 12 new, full-time positions at the Buffalo facility by June 2027, while making a total qualified capital investment of $49 million. Empire State Development is supporting the project with up to $1.4 million in performance-based tax credits through New York State’s Excelsior Jobs Program.
About Solstice Advanced Materials
Solstice Advanced Materials is a leading global specialty materials company that advances science for smarter outcomes. Solstice offers high-performance solutions that enable critical industries and applications, including refrigerants, semiconductor manufacturing, data center cooling, nuclear power, protective fibers, healthcare packaging and more. Solstice is recognized for developing next-generation materials through some of the industry’s most renowned brands such as Solstice®, Genetron®, Aclar®, Spectra®, Fluka™ and Hydranal™. Partnering with over 3,000 customers across more than 120 countries and territories and supported by a robust portfolio of over 5,700 patents and pending applications, Solstice’s approximately 4,100 employees worldwide drive innovation in materials science. For more information, visit www.Solstice.com.
Forward-Looking Statements
This news release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the fact that they do not relate strictly to historical or current facts, but rather are based on current expectations, estimates, assumptions and projections. These statements include, but are not limited to, statements regarding the planned investment in the Buffalo, New York facility, the amount of performance-based tax credits Solstice will receive in connection with the project, and the expected results of the investment. These statements involve risks and uncertainties, many of which are difficult to predict and are outside of Solstice’s control, and actual results may differ materially from any future results expressed or implied by the forward-looking statements. Risks and uncertainties include, without limitation, ongoing macroeconomic and geopolitical risks, such as changes in or application of trade and tax laws and policies, including the impacts of tariffs and other trade barriers and restrictions, lower GDP growth or recession in the U.S. or globally, supply chain disruptions, capital markets volatility, and inflation, that can affect Solstice’s performance in both the near- and long-term. In addition, no assurance can be given that any plan, initiative, projection, goal, commitment, expectation, or prospect set forth in this release can or will be achieved. These forward-looking statements should be considered in light of the information included in this release, Solstice’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the Securities and Exchange Commission on February 19, 2026, and other filings with the Securities and Exchange Commission. Any forward-looking plans described herein are not final and may be modified or abandoned at any time. Solstice does not undertake to update or revise any of its forward-looking statements, which speak only as of the date they are made, except as otherwise required by securities or other applicable law.
Contact
Media
Phil Terrigno
973-768-8868
Phil.Terrigno@solstice.com
Investors
Mike Leithead
973-370-8188
Michael.Leithead@solstice.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/solstice-announces-49-million-investment-to-expand-research-and-development-capabilities-in-buffalo-new-york-302903647.html
SOURCE Solstice Advanced Materials US, Inc.
Technology3 days ago
Technology3 days ago
Technology4 days ago
Technology3 days ago
Technology4 days ago
Coin Market4 days ago
Coin Market5 days ago
Technology5 days ago