Mes: enero 2021

REHOVOT, Israel, Jan. 5, 2021 /PRNewswire/ — Aleph Farms, Ltd., and Mitsubishi Corporation’s Food Industry Group signed a Memorandum of Understanding (MoU) to bring cultivated meat to the Japanese table. Aleph Farms will provide its proven, scalable manufacturing platform (BioFarm™) for cultivation of whole-muscle steaks. Mitsubishi Corporation will provide its expertise in biotechnology processes, branded food manufacturing, and local distribution channels in Japan.

«The MoU with Mitsubishi Corporation’s Food Industry Group marks an important milestone for us, as we methodically build the foundations of our global go-to-market activities with selected partners,» notes Didier Toubia, Co-Founder and CEO of Aleph Farms.

Mitsubishi Corporation is a global integrated business enterprise that develops and operates a global network of 1,700 group companies in 90 countries. With yearly revenue of US$140B, Mitsubishi Corporation is comprised of 10 Business Groups covering virtually every industry. The Food Industry Group covers food resources, fresh foods, consumer products, and food ingredients, and is active in every link of the food supply chain, from the production and sourcing of raw materials to the manufacturing of finished food products.

«The cooperation demonstrates Aleph Farms’ strategy of working together with the food and meat industries to ensure a successful integration of cultivated meat within the ecosystem, while maximizing the positive impact we make,» adds Toubia. «We are excited to bring cultivated meat production closer to the Japanese market.»

This cooperation takes a lead role in the fight against climate change, especially now that the Japanese government stipulated a goal of achieving zero greenhouse gas emissions. In April 2020, Aleph Farms committed to eliminating emissions associated with its meat production by 2025 and reach the same net-zero emissions across its entire supply chain by 2030. As the demand for meat continues to rise with evolving lifestyles, the cooperation will also provide actionable solutions to overcome the societal challenges to the local population surrounding the domestic meat supply. This includes implementing stable food channels of quality nutrition.

«This is part of a network of ‘BioFarm to Fork’ strategic partnerships being developed by Aleph Farms in APAC, LATAM, and Europe, following the successful 2019 Round-A strategic investment by Cargill and the Migros Group in Switzerland,» reports Gary Brenner, VP of Market Development at Aleph Farms.

Aleph Farms and Mitsubishi Corporation are members of the «Cellular Agriculture Study Group», a consortium implementing policy proposals under the Japanese Center for Rule-Making Strategy. The consortium brings together a range of experts on the definition and construction of cellular agricultural foods. It also adds clarification of conditions for Japanese products and technologies to have international competitiveness and establishes mechanisms for coexistence and division of roles with existing industries.

About Aleph Farms:

Aleph Farms is a food company that is paving a new way forward as a leader of the global sustainable food ecosystem, working passionately to grow delicious beef steaks from non-genetically engineered cells, isolated from a cow, using a fraction of the resources required for raising an entire animal for meat, and without antibiotics. Aleph Farms was co-founded with The Kitchen Hub of the Strauss Group and with Professor Shulamit Levenberg, Dean of the Biomedical Engineering faculty of the Technion – Israel Institute of Technology. Aleph Farms is backed by some of the world’s most innovative food producers, such as Cargill, Migros, and the Strauss Group.

The company has recently received top accolades for its contribution to the global sustainability movement from the World Economic Forum, UNESCO, Netexplo Forum and EIT Food.

For further information, please contact:

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SOURCE Aleph Farms

REHOVOT, Israel, Jan. 5, 2021 /PRNewswire/ — Aleph Farms, Ltd., and Mitsubishi Corporation’s Food Industry Group signed a Memorandum of Understanding (MoU) to bring cultivated meat to the Japanese table. Aleph Farms will provide its proven, scalable manufacturing platform (BioFarm™) for cultivation of whole-muscle steaks. Mitsubishi Corporation will provide its expertise in biotechnology processes, branded food manufacturing, and local distribution channels in Japan.

«The MoU with Mitsubishi Corporation’s Food Industry Group marks an important milestone for us, as we methodically build the foundations of our global go-to-market activities with selected partners,» notes Didier Toubia, Co-Founder and CEO of Aleph Farms.

Mitsubishi Corporation is a global integrated business enterprise that develops and operates a global network of 1,700 group companies in 90 countries. With yearly revenue of US$140B, Mitsubishi Corporation is comprised of 10 Business Groups covering virtually every industry. The Food Industry Group covers food resources, fresh foods, consumer products, and food ingredients, and is active in every link of the food supply chain, from the production and sourcing of raw materials to the manufacturing of finished food products.

«The cooperation demonstrates Aleph Farms’ strategy of working together with the food and meat industries to ensure a successful integration of cultivated meat within the ecosystem, while maximizing the positive impact we make,» adds Toubia. «We are excited to bring cultivated meat production closer to the Japanese market.»

This cooperation takes a lead role in the fight against climate change, especially now that the Japanese government stipulated a goal of achieving zero greenhouse gas emissions. In April 2020, Aleph Farms committed to eliminating emissions associated with its meat production by 2025 and reach the same net-zero emissions across its entire supply chain by 2030. As the demand for meat continues to rise with evolving lifestyles, the cooperation will also provide actionable solutions to overcome the societal challenges to the local population surrounding the domestic meat supply. This includes implementing stable food channels of quality nutrition.

«This is part of a network of ‘BioFarm to Fork’ strategic partnerships being developed by Aleph Farms in APAC, LATAM, and Europe, following the successful 2019 Round-A strategic investment by Cargill and the Migros Group in Switzerland,» reports Gary Brenner, VP of Market Development at Aleph Farms.

Aleph Farms and Mitsubishi Corporation are members of the «Cellular Agriculture Study Group», a consortium implementing policy proposals under the Japanese Center for Rule-Making Strategy. The consortium brings together a range of experts on the definition and construction of cellular agricultural foods. It also adds clarification of conditions for Japanese products and technologies to have international competitiveness and establishes mechanisms for coexistence and division of roles with existing industries.

About Aleph Farms:

Aleph Farms is a food company that is paving a new way forward as a leader of the global sustainable food ecosystem, working passionately to grow delicious beef steaks from non-genetically engineered cells, isolated from a cow, using a fraction of the resources required for raising an entire animal for meat, and without antibiotics. Aleph Farms was co-founded with The Kitchen Hub of the Strauss Group and with Professor Shulamit Levenberg, Dean of the Biomedical Engineering faculty of the Technion – Israel Institute of Technology. Aleph Farms is backed by some of the world’s most innovative food producers, such as Cargill, Migros, and the Strauss Group.

The company has recently received top accolades for its contribution to the global sustainability movement from the World Economic Forum, UNESCO, Netexplo Forum and EIT Food.

For further information, please contact:

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SOURCE Aleph Farms

NEW YORK, Jan. 5, 2021 /PRNewswire/ — Ideanomics (NASDAQ: IDEX) («Ideanomics» or the «Company») is pleased to announce it has signed a definitive agreement to acquire 100% of privately held Wireless Advanced Vehicle Electrification, Inc. («WAVE») for cash and stock consideration, the material terms of which are disclosed in the Company’s related 8-K filing. Roth Capital Partners acted as an advisor to WAVE on the transaction. The acquisition is subject to customary closing conditions.

Founded in 2011, and headquartered in Salt Lake City, Utah, WAVE is a leading provider of inductive (wireless) charging solutions for medium and heavy-duty electric vehicles (EVs). Embedded in roadways and charging vehicles during scheduled stops, the fully automated, hands-free WAVE system eliminates battery range limitations and enables fleets to achieve driving ranges that match that of internal combustion engines.

Deployed since 2012, WAVE has demonstrated the capability to develop and integrate high-power charging systems into heavy-duty electric vehicles from leading commercial EV manufacturers. With commercially available wireless charging systems up to 250kW and higher power systems in development, WAVE provides custom fleet solutions for mass transit, logistics, airport and campus shuttles, drayage fleets, and off-road vehicles at ports and industrial sites.

Wireless charging systems offer several compelling benefits over plug-in-based charging systems, including reduced maintenance, improved health and safety, and expedited energy connection. Furthermore, wireless in-route charging enables greater route lengths or smaller batteries while also maintaining battery life.

WAVE customers include the largest EV bus system in the U.S., the Antelope Valley Transit Authority, and its partnerships include Kenworth, Gillig, BYD, Complete Coach Works, and more.

«The acquisition of WAVE is a significant one for our EV efforts across the board. We are excited to bring Michael Masquelier and his team into the Ideanomics family, where we can inject significant growth capital to enable WAVE to further accelerate its business and bring wireless charging to our product offerings. WAVE has become a market leader in inductive charging systems, which are much better suited for commercial EVs than plug-in charging systems,» said Alf Poor, Ideanomics CEO. «WAVE complements our Medici Motor Works and Treeletrik businesses, and our investment in Solectrac, and is aligned with our MEG division’s Sales to Financing to Charging (S2F2C) model. This is a win-win all around, which will help maximize shareholder value. We’re thrilled to have signed the definitive agreement for this acquisition so we can get to work immediately on the opportunities this brings to both Ideanomics and WAVE.»

«Fast, safe, in-route charging is key to enabling commercial EVs to match the range of internal combustion vehicles,» said Michael Masquelier, WAVE’s Founder and CEO. «Joining the Ideanomics family will allow WAVE solutions to rapidly develop at the scale needed to help fleet operators around the world meet their zero-emission goals.»

About WAVE, Inc.

Founded in 2011, Wireless Advanced Vehicle Electrification (WAVE), is a technology company focused on creating practical and economical solutions for the transit and off-road industrial electric vehicle markets worldwide. WAVE is the premiere developer of inductive charging solutions for medium and heavy-duty vehicles in the United States and has demonstrated the capability to develop and integrate high power charging systems onto heavy-duty electric vehicles.

About Ideanomics

Ideanomics is a global company focused on the convergence of financial services and industries experiencing technological disruption. Our Mobile Energy Global (MEG) division is a service provider that facilitates the adoption of electric vehicles by commercial fleet operators through offering vehicle procurement, finance and leasing, and energy management solutions under our innovative sales to financing to charging (S2F2C) business model. Ideanomics Capital is focused on disruptive fintech solutions for the financial services industry. Together, MEG and Ideanomics Capital provide our global customers and partners with leading technologies and services designed to improve transparency, efficiency, and accountability, and our shareholders with the opportunity to participate in high-potential, growth industries.

The company is headquartered in New York, NY, with offices in Beijing, Hangzhou, and Qingdao, and operations in the U.S., China, Ukraine, and Malaysia.

Safe Harbor Statement

This press release contains certain statements that may include «forward looking statements». All statements other than statements of historical fact included herein are «forward-looking statements.» These forward-looking statements are often identified by the use of forward-looking terminology such as «believes,» «expects» or similar expressions, involve known and unknown risks and uncertainties, and include statements regarding our intention to transition our business model to become a next-generation financial technology company, our business strategy and planned product offerings, our intention to phase out our oil trading and consumer electronics businesses, and potential future financial results. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of risks and uncertainties, such as risks related to: our ability to continue as a going concern; our ability to raise additional financing to meet our business requirements; the transformation of our business model; fluctuations in our operating results; strain to our personnel management, financial systems and other resources as we grow our business; our ability to attract and retain key employees and senior management; competitive pressure; our international operations; and other risks and uncertainties disclosed under the sections entitled «Risk Factors» and «Management’s Discussion and Analysis of Financial Condition and Results of Operations» in our most recent Form 10-K and Form 10-Q filed with the Securities and Exchange Commission, and similar disclosures in subsequent reports filed with the SEC, which are available on the SEC website at www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these risk factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

Investor Relations and Media Contact

WAVE
Tom McDonald, Senior Director of Marketing
4752 West California Ave, Suite B-400, Salt Lake City, UT 84104
tom.mcdonald@waveipt.com 

Ideanomics, Inc.
Tony Sklar, SVP of Investor Relations
1441 Broadway, Suite 5116, New York, NY 10018
ir@ideanomics.com

Valerie Christopherson / Lora Wilson
Global Results Communications (GRC)
+1 949 306 6476
valeriec@globalresultspr.com

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SOURCE Ideanomics

WILMINGTON, Del., Jan. 5, 2021 /PRNewswire/ — The Chemours Company (Chemours) (NYSE: CC), a global chemistry company with leading market positions in Titanium Technologies, Fluoroproducts and Chemical Solutions, applauds the 116th Congress in its recent passing of the bipartisan American Innovation and Manufacturing Act (AIM Act), which was signed into law by President Donald Trump as part of the year-end Omnibus package on December 27^th.  Once enacted, the AIM Act is expected to deliver $38 billion in economic benefit to the US by 2027, create new jobs, and provide an orderly nation-wide phase down of hydrofluorocarbons (HFCs) in use today across multiple industries. 

In support of the phase down, Chemours has developed and commercialized a portfolio of low global warming potential (GWP) solutions leveraging hydrofluoroolefin (HFO) technology.  These Opteon™ branded products, in addition to existing low GWP HFCs, will enable our customers and value chain partners in refrigeration, air conditioning, foam blowing agents, and other segments to transition to more sustainable solutions in their respective applications.

«Chemours has been consistent in our support of orderly HFC phase down actions globally.  We are pleased that Congress, with bi-partisan support in both the Senate and the House, believed the provisions of the AIM Act can deliver environmental and economic benefits as the United States continues to take important steps to address climate change. We look forward to working with the Biden Administration in 2021 to bring the AIM Act to life and to working with policy makers on both sides of the aisle to continue to advance and apply American innovation, manufacturing and leadership to help create a cleaner world,» said Mark Vergnano, President & CEO. 

The Opteon™ portfolio has been developed to meet global regulations while maintaining or improving performance compared to the products they replace and reducing the carbon footprint of the specific application.  By the year 2025, Chemours estimates that its low GWP products will eliminate an estimated 325 million tons of carbon dioxide equivalents on a global basis.  This reduction would be equivalent to 69 million passenger cars being driven in one year, or the annual energy use for 37 million homes.

«The initial stages of transition away from high GWP HFCs to our low GWP solutions are already underway in some parts of the world and in pockets of the US due to state-led activity.  Now with a consistent federal framework, our customers will be able to plan transitions with confidence, and our commercial and operations teams are ready to support this ramp-up of activity,» said Alisha Bellezza, Vice President of Chemours Fluorochemicals.

Chemours has invested hundreds of millions of dollars in research and development, manufacturing assets, and downstream product and application development with low GWP, HFO technology, and remains committed to the ongoing development needs of customers through the HFC phase down in the US and globally.

For more information on Opteon™ solutions, please visit opteon.com.

About The Chemours Company
The Chemours Company (NYSE: CC) is a global leader in Titanium Technologies, Fluoroproducts, and Chemical Solutions, providing its customers with solutions in a wide range of industries with market-defining products, application expertise and chemistry-based innovations. Chemours ingredients are found in plastics and coatings, refrigeration and air conditioning, mining, and general industrial manufacturing. Our flagship products include prominent brands such as Teflon™, Ti-Pure™, Krytox™, Viton™, Opteon™, Freon™ and Nafion™. Chemours published its first corporate responsibility commitment report in 2018, which highlights goals aligned with the United Nations Sustainable Development Goals. The company has approximately 7,000 employees and 30 manufacturing sites serving approximately 3,700 customers in over 120 countries. Chemours is headquartered in Wilmington, Delaware and is listed on the NYSE under the symbol CC.

For more information, we invite you to visit chemours.com or follow us on Twitter @Chemours or LinkedIn.   

Forward-Looking Statements
This press release contains forward-looking statements, within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, which involve risks and uncertainties. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to a historical or current fact. The words «believe,» «expect,» «will,» «anticipate,» «plan,» «estimate,» «target,» «project» and similar expressions, among others, generally identify «forward-looking statements,» which speak only as of the date such statements were made. These forward-looking statements may address, among other things, the outcome or resolution of any pending or future environmental liabilities, the commencement, outcome or resolution of any regulatory inquiry, investigation or proceeding, the initiation, outcome or settlement of any litigation, changes in environmental regulations in the U.S. or other jurisdictions that affect demand for or adoption of our products, anticipated future operating and financial performance, business plans, prospects, targets, goals and commitments, capital investments and projects, plans for dividends or share repurchases, sufficiency or longevity of intellectual property protection, cost reductions or savings targets, plans to increase profitability and growth, our ability to make acquisitions, integrate acquired businesses or assets into our operations, and achieve anticipated synergies or cost savings, all of which are subject to substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Forward-looking statements are based on certain assumptions and expectations of future events that may not be accurate or realized. These statements are not guarantees of future performance. Forward-looking statements also involve risks and uncertainties that are beyond Chemours’ control. In addition, the current COVID-19 pandemic has significantly impacted the national and global economy and commodity and financial markets. The full extent and impact of the pandemic is unknown and to date has included extreme volatility in financial and commodity markets, a significant slowdown in economic activity, and increased predictions of a global recession. The public and private sector response has led to significant restrictions on travel, temporary business closures, quarantines, stock market volatility, and a general reduction in consumer and commercial activity globally. Matters outside our control have affected our business and operations and may or may continue to limit travel of employees to our business units domestically and internationally, adversely affect the health and welfare of our personnel, significantly reduce the demand for our products, hinder our ability to provide goods and services to customers, cause disruptions in our supply chains, adversely affect our business partners or cause other unpredictable events. Additionally, there may be other risks and uncertainties that Chemours is unable to identify at this time or that Chemours does not currently expect to have a material impact on its business. Factors that could cause or contribute to these differences include the risks, uncertainties and other factors discussed in our filings with the U.S. Securities and Exchange Commission, including in our Quarterly Report on Form 10-Q for the quarter ended September 30, 2020 and in our Annual Report on Form 10-K for the year ended December 31, 2019. Chemours assumes no obligation to revise or update any forward-looking statement for any reason, except as required by law.

CONTACT:

NEWS MEDIA

Thomas Sueta
Director, Corporate Communications
+1.302.773.3903
media@chemours.com 

INVESTORS
Jonathan Lock
VP, Corporate Development and Investor Relations
+1.302.773.2263
investor@chemours.com

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SOURCE The Chemours Company

LOS ANGELES, Jan. 5, 2021 /PRNewswire/ — With five states voting to legalize cannabis, the Biden Administration’s support for decriminalization, probable advancement of the SAFE Banking Act due to changes in Senate Banking Committee leadership, and the passing of the MORE Act in the House, The Arcview Group discloses that investment interest in cannabis is at an all-time high.

«Three of the most important events to drive cannabis growth in 2021 and beyond have occurred. Notable progress on the regulatory front, a catalyst for industry expansion to the East coast, and consistent performance among bellwether cannabis stocks as the best-performing US cannabis companies saw sales and adjusted EBITDA increase in Q3,» states Jeffrey Finkle, CEO of Arcview Ventures. «The passage in New Jersey will likely affect the futures of New York, Pennsylvania, Connecticut, and Maryland.»

«Recent big wins of some key companies such as Weedmaps and LeafLink, companies that Arcview Group’s members invested in during their early funding rounds, has sparked a new wave of excitement around cannabis investing,» comments Kim Kovacs, CEO of The Arcview Group. «All of this is happening now, and we have over $600M in capital being raised across 170 companies on our platforms. Becoming an early investor today or this week is one of the smartest moves one should make.»

Members of The Arcview Group community are continuing to connect companies with the right people and sealing deals. Investing avenues in the Arcview ecosystem such as The Arcview Collective Fund, Arcview Capital, and Arcview Investor Network are firing on all cylinders.

To view all current raises underway, visit www.arcviewventures.com. Find out more about becoming an investor or applying for funding by emailing info@ArcviewVentures.com.

About The Arcview Group:

The Arcview Group is a vertically integrated investment firm servicing the cannabis industry. As a trusted global leader and nexus for investors, companies, entrepreneurs, money-managers, and community, Arcview provides a broad spectrum of programs and services to the industry. By providing the tools necessary and curating cannabis companies, Investor Members have invested in more than 300 private cannabis startups to-date. The Arcview Group has launched three new entities: Arcview Ventures, Arcview Capital, Arcview Consulting. To learn more, visit https://arcviewgroup.com

Press Contact:

Christia Brockman
sundaybrunch@thearcviewgroup.com

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SOURCE The Arcview Group

STAMFORD, Conn., Jan. 5, 2021 /PRNewswire/ — ReneSola Ltd («ReneSola Power» or the «Company») (www.renesolapower.com) (NYSE: SOL), a leading fully integrated solar project developer, today announced that it signed a Memorandum of Understanding (MOU) with Eiffel Investment Group («Eiffel»), a leading asset management firm with 3 billion euros under management, to establish a joint venture that will provide financing for ReneSola Power’s current and future solar projects across Europe.

Under the terms of the MOU, ReneSola Power and Eiffel Investment Group will create a 51/49 joint venture company with ReneSola Power having a 51 percent ownership stake and Eiffel injecting new capital into the joint venture for a 49 percent ownership. The JV intends to develop up to 1 GW of solar projects in the next several years across Europe.

Mr. Josef Kastner, CEO of ReneSola European Region, commented, «We are excited to form a joint venture with Eiffel Investment Group, a long-term strategic partner and proven leader in business financing. Our industry requires efficient and scalable financing models to meet demand. We expect the joint venture to help facilitate the development of our existing pipeline of project opportunities and prospective projects that meet our development criteria.»

Mr. Yumin Liu, ReneSola Power Chief Executive Officer, added, «We received a handful of offers across Europe and ultimately selected Eiffel for this partnership. The new joint venture clearly demonstrates Eiffel Investment Group’s confidence in our ability to successfully develop and build projects in various target markets. Importantly, the joint venture fits well with our growth strategy, enabling us to further expand our project development activities across Europe and set a high standard for the sustainable development of the solar industry. «

Mr. Pierre-Antoine Machelon, Managing Director at Eiffel Investment Group, said, «We are very excited by this promising expansion of our partnership with ReneSola Power. This innovative transaction leverages their strong experience of PV development in Europe and our capacity to bring financial resources at the most critical stages of the projects’ life cycles.»

Eiffel Investment Group will make capital contributions to the joint venture as qualifying projects are constructed in the targeted markets of Europe. ReneSola Power will lead the project identification and development process. Both partners will then determine the best methodology to value the projects. Once constructed, the projects will be sold by the joint venture.

Germany-based Capcora served as financial advisor to ReneSola Power for the fundraising process, managing a structured bidding process, evaluating the pipeline and developing a suitable joint venture structure.

About ReneSola Power

ReneSola Power (NYSE: SOL) is a leading global solar project developer and operator. The Company focuses on solar power project development, construction management and project financing services. With local professional teams in more than 10 countries around the world, the business is spread across a number of regions where the solar power project markets are growing rapidly, and can sustain that growth due to improved clarity around government policies. The Company’s strategy is to pursue high-margin project development opportunities in these profitable and growing markets; specifically, in the U.S. and Europe, where the Company has a market-leading position in several geographies, including Poland, Hungary, Minnesota and New York.

About Eiffel Investment Group

Eiffel Investment Group is an asset management firm specializing in corporate finance. The group now manages more than three billion euros and offers companies a wide range of private and listed debt and equity financing solutions. The group, which has significant equity capital, has established an institutional infrastructure and ensures a very strong alignment of interest with the fund’s institutional investor clients. Eiffel Investment Group is an independent company owned by its team alongside Impala.

About Capcora

Capcora is a consulting firm, specialized on real assets. Capcora procures equity, mezzanine and debt financing for energy and infrastructure projects, real estate, and medium sized companies. The focus is especially on mezzanine financing for the recapitalization of tied-up liquidity in operating assets as well as for bridge financing of developments and construction measures in the area of renewable energies (photovoltaics, onshore wind, green gas) and real estate through alternative financing sources.

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SOURCE ReneSola Ltd.

LONDON, Jan. 5, 2021 /PRNewswire/ — 2020 was a better year for construction than for many other industries according to the latest Global Construction 2030^[1] report. The volume of global construction output declined by only around 2% in 2020, less than half the rate of decline in the world economy. Construction was categorised as an essential industry in most countries, enabling it to continue working during lockdowns. Also, «work at home» orders encouraged people to invest more in their own houses.

Amongst the 90 countries included in the report, 16 had a double-digit percentage declines in their construction volumes in 2020; with Panama (-30%), Singapore (-25%) and the Philippines (-22%) suffering the largest falls. Only Saudi Arabia (+15%) had a double-digit percentage increase.

Construction is likely to underperform the global economy in future years, particularly as it’s more impacted by stretched public finances, despite many countries announcing increased infrastructure investment.

During the next two years, as the world recovers from COVID, we expect construction volumes globally to increase by an average of 3.2% a year, with double-digit percentage increases in seven countries and declines in only three countries, all of which are in Europe.

Over the longer term (2023 to 2030) we forecast that the volume of construction output will increase by an average of 2.3% a year globally, with annual growth rates varying between a decline in Japan (-0.5% p.a.) to increases exceeding 8% a year in Tanzania (+8.4% p.a.), Ethiopia (+8.4% p.a.) and Bangladesh (+8.0% p.a.).

We estimate that the value of global construction output in US$ at constant exchange rates and in 2020 prices will increase from $11.6 trillion in 2020 to around $14.8 trillion in 2030, a growth rate averaging 2.5% a year. We expect China to remain the largest construction market globally, but to decline in importance from 32.0% of the global total in 2020 to 29.2% in 2030. We also expect Japan’s contribution to the total to decline from 7.0% in 2020 to 5.4% in 2030, when we forecast that it will be overtaken by India as it becomes the third largest construction market globally. We expect Indonesia to surpass France and Australia to become the sixth largest construction market in 2030, with France dropping from the sixth largest in 2020 to the eighth largest in 2030.

Around 43 million new homes will be required each year globally between 2020 and 2030, with 11 million of these being in India, 7 million in China, 2m in Nigeria and 1.5 million in the US. Brazil, Pakistan and Indonesia are also each expected to require more than a million new homes every year.

1. www.globalconstruction2030.com for report. Separate forecasts are published for housing, non-housing and infrastructure work for 63 of the 90 countries.

Contact:
Dr Mike Betts,
Global Construction Perspectives,
Mobile +447833431682.
E-mail: mike@gcp.global

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SOURCE Global Construction Perspectives