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Investment In Affiliates
12 Months Ended
Dec. 31, 2012
Investment In Joint Ventures [Abstract]  
Investment In Joint Ventures

Note 11- Investment In Affiliates

 

In July 2011, the Company entered into a joint venture agreement with Safety Hi-Tech S.r.l (“SHT”) and with the principals of Banini-Binotti Associates (“BB”). The joint venture has created a new entity know as Hudson Technologies Europe, S.r.l. (“HTE”). The Company and SHT each own 40% of HTE with BB owning the remaining 20%. HTE’s purpose is to develop a business that provides for refrigerant reclamation, RefrigerantSide® services and energy optimization services throughout most of Europe, the Middle East and North Africa. As of December 31, 2012, the joint venture has begun limited operations. The Company intends to, over time, have each of its offerings that are available in the US made available in each of these geographies through the operations of HTE. As of December 31, 2012, the Company has made an initial investment of $516,000, of which $408,000 represents equipment purchased in prior years, and once the results of operations are deemed material, the Company’s share of the joint venture will be recorded under the equity method.

 

In August 2012, the Company entered into a joint venture agreement with SHT. The joint venture has created a new entity known as Safety Hi-Tech USA, LLC (“USA”). The Company and SHT each own 50% of USA. USA’s purpose is to develop a business that provides fire suppression and suppressants throughout North America and Mexico. As of December 31, 2012, the Company has made and investment of $622,000. As of December 31, 2012, the joint venture has not started operations.