Solstice Advanced Materials

What Solstice Advanced Materials does

Solstice Advanced Materials is an independent publicly traded specialty materials company (NASDAQ: SOLS) that completed its spin-off from Honeywell International on October 30, 2025. The company is headquartered in Morris Plains, New Jersey, operates 24 manufacturing sites and 4 R&D centers, employs approximately 4,000-4,100+ people, and serves more than 3,000 customers across 120 countries and territories. Its portfolio is organized around four core segments: (1) Refrigerants and Thermal Management, including patented low-GWP HFO refrigerants (Solstice R-448A, R-449A, R-455A) and next-generation phase change thermal interface materials such as PTM6880; (2) Nuclear, through the ConverDyn joint venture operating the only active commercial uranium hexafluoride (UF6) conversion facility in the United States at Metropolis Works, Illinois; (3) Electronic Materials, comprising high-purity sputtering targets for sub-5nm semiconductor fabrication used in AI processors and high-performance computing; and (4) Defense, anchored by the Spectra and Spectra Shield ultra-high molecular weight polyethylene (UHMWPE) ballistic fiber and composite technology, recognized by military and law enforcement organizations in over 40 countries. The company also supplies healthcare packaging and specialty brazing solutions.

Solstice's underlying technology portfolio includes over 5,700 patents spanning low-GWP hydrofluoroolefin chemistry, UF6 conversion process know-how, sub-5nm sputtering target purification, and UHMWPE fiber spinning — the latter producing fibers 15 times stronger than steel by weight. Manufacturing assets include the $200 million Spokane Valley, Washington electronic materials expansion (groundbreaking December 2025) with AI-driven Digital Twin manufacturing, the $220+ million Colonial Heights, Virginia ballistic fiber expansion, and the 20% UF6 capacity expansion at Metropolis Works targeting over 10 kilotonnes of UF6 output in 2026.

The business model is enterprise field-sales-led with long-term supply agreements, channel partner licensing, and direct e-commerce. Revenue is generated through one-time specialty materials sales, recurring licensing royalties (e.g., the Hudson Technologies HFO licensing agreement), recurring utility UF6 conversion contracts backed by a $2.2 billion backlog, and quarterly shareholder dividends initiated at $0.075 per share in February 2026. FY2025 revenue was $3.9 billion with Q1 2026 net sales of $991 million (up 10% YoY) and Q1 2026 adjusted EBITDA margin of 25.1%. Major end markets include HVAC/R and refrigeration, semiconductor and AI infrastructure, nuclear energy, defense, and life sciences.

Name

Solstice Advanced Materials

Legal name

Solstice Advanced Materials US, Inc.

Website

https://solstice.com

Company type

Public

Founded year

2025

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Solstice Advanced Materials (NASDAQ: SOLS) is an independent specialty materials company spun off from Honeywell in October 2025, producing low-GWP HFO refrigerants, semiconductor sputtering targets, ultra-high strength ballistic fibers (Spectra), and operating the only U.S. commercial uranium hexafluoride conversion facility via the ConverDyn joint venture for over 3,000 customers in 120+ countries.

Ownership category

akta.pro rank

Product category

Specialty Materials

NAICS

Resin and Synthetic Rubber Manufacturing (32521), Petrochemical Manufacturing (32511), Resin, Synthetic Rubber, and Artificial and Synthetic Fibers and Filaments Manufacturing (3252)

SIC

Plastic Materials, Synth Resins & Nonvulcan Elastomers (2821), Industrial Organic Chemicals (2860), Chemicals & Allied Products (2800)

akta.pro primary industry

Thin-Film Deposition Materials (PVD/CVD/ALD Targets & Precursors) (HDAHAGAH)

akta.pro secondary industries

Engineering & High-Performance Thermoplastics Resin Manufacturing (PA, POM, PC, PBT, PEEK, PPS) (IMANAAAB), Synthetic Rubber & Elastomer Feedstocks (SBR, BR, NBR, EPDM) (IMAEADAJ), Dielectrics & Insulating Materials Chemicals (Low-k/High-k precursors) (IMAEAKAJ), Specialty Rubber Compounds (FKM, HNBR, NBR, Silicone, CR) (IMANAJAB)

Keywords

• Specialty materials manufacturing
• Low-GWP HFO refrigerants
• Uranium hexafluoride conversion
• Semiconductor sputtering targets
• Ballistic fiber composites

Headquarters

HQ city

Morris Plains

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Specialty Materials Sales: Solstice generates revenue primarily through the sale of specialty materials across three core segments: Refrigerants and Thermal Management, Nuclear, and Electronic Materials. Q1 2026 net sales of $991 million, up 10% year-over-year, with double-digit growth across nuclear, refrigerants, and electronic materials segments. Full-year 2025 net sales of $3.9 billion.
2. Uranium Hexafluoride Conversion Services: The ConverDyn joint venture provides exclusive UF6 conversion capabilities at the Metropolis Works facility. The company announced a 20% capacity expansion to produce over 10 kilotonnes of UF6 in 2026, backed by a $2 billion+ backlog from long-term utility customers. This represents a critical tollbooth position in the domestic nuclear fuel supply chain.
3. HFO Refrigerant Licensing: The company licenses its patented HFO refrigerant formulations (R-448A and R-449A) to partners such as Hudson Technologies for reclamation and resale in the US and Canada. A Hudson licensing agreement was announced March 2026. This creates recurring licensing royalty revenue streams.
4. Quarterly Dividend: The company declared its first quarterly dividend of $0.075 per share in February 2026, payable March 10, 2026, to shareholders of record February 24, 2026. This was subsequently reaffirmed with dividends payable June 10, 2026 ($0.075/share, record May 27, 2026), signaling capital return to shareholders.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Solstice Advanced Materials manufactures and sells specialty materials across four core segments: Refrigerants and Thermal Management (low-GWP HFO refrigerants and phase change materials for HVAC/R and data center cooling), Nuclear (uranium hexafluoride conversion services via the ConverDyn joint venture at Metropolis Works), Electronic Materials (high-purity sputtering targets for sub-5nm semiconductor fabrication), and Defense (Spectra and Spectra Shield ultra-high molecular weight polyethylene ballistic fibers). The company also supplies pharmaceutical packaging materials and brazing solutions, serving more than 3,000 customers in 120+ countries.

Product overview

Solstice Advanced Materials is a pure-play specialty materials company spun off from Honeywell in October 2025. The company offers a diversified portfolio of advanced materials across four core segments: (1) Refrigerants and Thermal Management — including Solstice® HFO/HFC refrigerants, A2L transition solutions, and phase change materials for data center cooling; (2) Nuclear — via the ConverDyn joint venture operating the only active U.S. commercial uranium hexafluoride conversion facility at Metropolis Works; (3) Electronic Materials — high-purity sputtering targets for semiconductor fabrication; and (4) Defense — Spectra Shield® and Spectra® fiber ballistic protection solutions. The company also provides healthcare packaging and specialty brazing solutions. Products serve critical infrastructure including HVAC/R, semiconductor manufacturing, nuclear energy, defense, and life sciences across over 3,000 customers in more than 120 countries.

Differentiator

Problem solved

Functional benefit

Brands

• Solstice: Primary brand name and trademark for the company's specialty materials products including refrigerants, advanced fibers, and electronic materials.
• Spectra
• Spectra Shield
• PTM6880

Products and services

• Solstice HFO Refrigerants (R-448A, R-449A, R-455A/L40X) Patented low-GWP hydrofluoroolefin refrigerant blends (R-448A, R-449A, R-455A/L40X) for HVAC/R, supermarket, commercial refrigeration, cold storage, and data center cooling applications, sold to equipment manufacturers and licensed for reclamation under AIM Act compliance.
• PTM6880 Phase Change Thermal Interface Material Next-generation phase change thermal interface material designed to address pump-out issues in heat transfer between components, targeted at data center and AI hardware cooling applications.
• Spectra Shield Ballistic Composite Materials Lightweight ballistic protection composite technology using ultra-high molecular weight polyethylene fibers, used by military, police, and security organizations in over 40 countries for helmets, vests, vehicle armor, and naval applications.
• Spectra UHMWPE Fiber

Quantifiable outcome

• UF6 conversion capacity increased 20% to over 10 kilotonnes in 2026, backed by $2 billion+ backlog
• +4 more outcomes

Named customers4 records

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Four partnerships are on record, tiered core and minor.

• The Chemours CompanycoreStrategic or Co-development Partner · 13 May 2026Solstice Advanced Materials and The Chemours Company co-led an industry technical working group study finding that automotive refrigerant emissions in Europe could be reduced by up to 60% annually by 2050, with approximately 50% cumulative emissions avoided between 2030 and 2050. The study involved major automakers and suppliers across the vehicle lifecycle and was published May 13, 2026.
• Hadron EnergyminorStrategic or Co-development Partner · 30 April 2026Hadron Energy signed a Uranium Conversion Services Agreement with ConverDyn, securing access to the only commercial UF6 conversion facility in the United States, owned and operated by Solstice Advanced Materials. The agreement establishes a fully domestic nuclear fuel supply pathway for Hadron's Halo Micro-Modular Reactor, reducing geopolitical supply chain risk and building regulatory credibility as the company advances toward commercialization.
• Hudson TechnologiescoreTechnology or Integration · 27 March 2026Hudson Technologies signed a licensing agreement with Solstice Advanced Materials to reclaim and resell patented HFO refrigerants R-448A and R-449A in the United States and Canada. The agreement enhances Hudson's capacity to participate in the lower-GWP refrigerant market under AIM Act phase-downs while giving Solstice broader access to the commercial refrigeration retrofit market. CEO Ken Gaglione called it a meaningful opportunity to expand Hudson's presence in the commercial refrigeration aftermarket service gas market.
• ConverDyncoreStrategic or Co-development Partner · 1 January 2024ConverDyn is a joint venture providing exclusive uranium hexafluoride (UF6) conversion capabilities at Solstice's Metropolis Works facility in Illinois. This is the only active commercial UF6 conversion facility in the United States, supporting nuclear reactors generating nearly 20% of U.S. electricity. The JV holds a $2.2 billion backlog and is central to Solstice's crown jewel nuclear platform.

Scale indicators11 records

Recent moves11 records

Expansion highlights7 records

Direct peers

• The Chemours Company: Chemours is the most direct competitor in HFO refrigerants (Opteon product line) and fluorochemical products. The two companies co-led industry studies on refrigerant emissions and compete head-to-head for HVAC/R and commercial refrigeration customers seeking low-GWP refrigerant solutions.
• DSM (dsm-firmenich): DSM's Dyneema is the primary global competitor to Spectra UHMWPE ballistic fibers in defense, law enforcement, and industrial applications. Both companies produce ultra-high molecular weight polyethylene fibers with comparable strength-to-weight characteristics for body armor and protective equipment.
• Cameco Corporation: Cameco is a leading uranium fuel cycle company and operates UF6 conversion facilities at Port Hope. Both companies participate in the nuclear fuel supply chain and serve utility customers seeking domestic conversion capacity amid Russian uranium import bans and SMR development.
• JX Nippon Mining & Metals: JX Nippon is a major supplier of high-purity sputtering targets and thin-film deposition materials for semiconductor fabrication. Both companies compete in advanced electronic materials serving chip manufacturers producing sub-5nm nodes for AI and high-performance computing applications.

Broad incumbents

• Honeywell International: Former parent company and now broader competitor across multiple specialty materials segments including refrigerants, electronic materials, and advanced fibers. Maintains overlapping product portfolios through remaining business lines after the October 2025 spin-off.
• 3M Company: 3M is a diversified specialty materials conglomerate with overlapping exposure to advanced materials, adhesives, and specialty chemicals. Both companies serve industrial customers across multiple end-markets and maintain significant R&D and patent portfolios.
• Eastman Chemical Company: Eastman is a specialty chemicals manufacturer with exposure to advanced materials, performance chemicals, and specialty plastics. Both companies serve industrial customers in similar end-markets including construction, automotive, and consumer products.
• PPG Industries: PPG is a diversified specialty coatings and materials manufacturer with overlapping industrial customer base. Both companies supply specialty materials to aerospace, automotive, and industrial manufacturers with similar sales-led enterprise GTM approaches.

Emerging players

• DuPont de Nemours: DuPont's Electronics & Industrial segment competes in semiconductor materials and specialty films. Both companies supply high-purity materials to semiconductor fabs and serve electronics manufacturing customers with precision material requirements.

Others

• Air Products and Chemicals: Air Products supplies industrial gases and specialty chemicals to similar end-markets including nuclear, semiconductor, and healthcare. While not a direct competitor in Solstice's core segments, both companies serve overlapping industrial customer bases and benefit from similar secular tailwinds.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/solstice-advanced-materials

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries1 record

Funding overview

Funding rounds2 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Solstice Advanced Materials