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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