Cleantech Building Materials: Financing Partner appointed to further Increase China Accoya® Production Capacity
20 June 2022
CLEANTECH BUILDING MATERIALS PLC, NASDAQ FIRST NORTH GROWTH MARKET, COPENHAGEN
Cleantech Building Materials plc
Financing Partnerappointed to further IncreaseChina Accoya® Production Capacity
This press release constitutes inside information that Cleantech Building Materials plc
is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014
Cleantech Building Materials plc (“CBM”, or the “Company” or the “Group”) is pleased to announce the engagement of DelMorgan Group LLC (“DelMorgan”), an internationally recognized investment banking firm, to support financing the Group’s intention to increase its planned China Accoya® Wood factory production capacity from 40,000 m3 to 240,000 m3 per annum. CBM’s average selling price during 2022 has been €1,966.85 euros per m3.
The proposed additional financing is expected to be in the form of equity and take place in 2022. The amount of total financing required is still to be determined. In addition to allowing for the expansion of the factory, the financing will also be used to construct an advanced industrial system to fully recycle the output chemicals from the Accoya® manufacturing process, significantly decreasing the factory’s chemical purchases and increasing profit margins. This advanced industrial recycling system has the added benefit of further enhancing the Group’s high standards of sustainability and protection of the environment. Every cubic meter of Accoya® Wood produced sequesters approximately one metric ton of carbon dioxide.
In March 2021 CBM’s Hong Kong based subsidiary, Diamond Wood China Ltd (“DWC”), entered into a joint venture, Jiangsu Dragon Wood, in which DWC has a 51% interest. Under the joint venture agreement, CBM will provide 25% of the financing, while the joint venture partners, Nantong Acetic Acid Company and Bank of Jiangsu, will provide the remaining 75%, in a combination of local debt and equity financing.
Headquartered in Santa Monica, California, DelMorgan www.delmorganco.comis an internationally recognized investment bank and financial advisor. With over three decades of experience and over $300 billion in successfully completed transactions, the professionals at DelMorgan provide world-class financial advice and assistance to companies, institutions, governments and individuals around the world.
About Accoya® Wood
Accoya® Wood, is a high-performance solid wood, which is both sustainable and non-toxic to the environment. It is produced through the enhancement of sustainably-grown Radiata Pine into the ideal material for windows, doors, shutters, decking, cladding and general construction.
Architects and manufacturers have traditionally chosen Accoya® Wood foremost for its guaranteed durability of over 50 years, its dimensional stability, and its excellent insulation qualities. However, in recent times there is an increased awareness that the materials with which Accoya® competes (such as aluminum, steel, uPVC, tropical hardwoods) are intensely resource depleting and/or highly carbon-polluting. Accoya® Wood ‘locks in’ carbon for the 50+ years of its lifespan. For every cubic meter of Accoya® produced, 944kg of CO2 is sequestered, compared with 88kg of CO2 emitted. For this reason, Accoya® is the only structural building material to have received Cradle to Cradle™ Gold certification. CBM is constructing the first Accoya® Wood factory in China to support this shift to sustainable building materials.
Accoya® branded wooden products are enjoying widespread acceptance in the European and US markets, as well as in China and Asia. The CBM Group already has multiple Asian offtake agreements in place, and the Group has begun to receive enquiries for China-produced Accoya® Wood from around the world. The Nantong, China site at the Rudong Industrial Park is potentially capable of supporting up to 480,000 m3 of annual production.
Paul Richards, Chairman of CBM, said: “CBM is at the forefront of environmentally friendly businesses with huge growth capacity, and as such is becoming more and more attractive to investors with Environmental Social Governance criteria. DelMorgan is an excellent fit for the Company as we look to build on this opportunity.”
Francis König, Managing Director at DelMorgan, said: “We are extremely excited to work with CBM to help them identify and source the capital to rapidly expand the Accoya® production capacity in China. The Company’s focus on sustainability, tied with its ambitious long-term growth potential, is exactly the type of company that DelMorgan’s experience can help and support to achieve its goals. We are looking forward to partnering with the Company as it grows towards its very attractive profitability potential in the coming years.”
Greg Lee, Chairman Diamond Wood China, said: “The urbanisation of China and the Asian region continues to drive the demand for high performance building materials derived from sustainable, carbon-neutral sources. The Chinese government, the Bank of Jiangsu and our local joint venture partner are all aligned in our objective of constructing the largest Accoya® wood factory in the world.”
THE DIRECTORS OF CLEANTECH BUILDING MATERIALS PLC ACCEPT RESPONSIBILITY FOR THE CONTENTS OF THIS ANNOUNCEMENT
Further information may be found at the Company's website at www.cbm-plc.com
|Cleantech Building Materials plc|
+44 20 3934 6630
|Keswick Global AG (Certified Adviser)||firstname.lastname@example.org|
+43 1 740 408045
|IFC Advisory Limited (Financial PR)|
|+44 20 3934 6630|
|DelMorgan Group LLCemail@example.com|
+1 310 319 2000
To view this piece of content from www.globenewswire.com, please give your consent at the top of this page.
To view this piece of content from ml-eu.globenewswire.com, please give your consent at the top of this page.
About GlobeNewswire by notified
One Liberty Plaza - 165 Broadway
NY 10006 New York
GlobeNewswire by notified is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.
Subscribe to releases from GlobeNewswire by notified
Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from GlobeNewswire by notified
Synthesio introduces Topic Modeling, an AI-powered trend discovery engine6.7.2022 14:00:00 CEST | Press release
NEW YORK, July 06, 2022 (GLOBE NEWSWIRE) -- Synthesio, a social listening pioneer and AI-enabled consumer intelligence leader, today announced the general release of a ground-breaking solution: Topic Modeling. This artificial intelligence (AI) -powered discovery engine, automatically scans, categorizes, and visualizes hundreds of thousands of online conversations in only a few clicks using the power of machine learning. Topic Modeling detects consumer-defined themes, uncovers unknown or hidden phenomena, and makes trend analysis easier. “Consumer trends emerge, take hold, then go out of style or evolve faster than most marketers and insights pros can keep up with. For those tasked with understanding consumers, this has increased the pressure to move even faster, anticipate behavioral shifts, and spot trend signals as they emerge. To meet our clients’ new needs, we evolved our solution beyond tracking consumer posts, to actually identifying net-new insights and ideas,” said Synthesio CE
Press- och analytikermöte6.7.2022 09:30:00 CEST | Pressemelding
Fredagen den 22 juli 2022, kl. 08:00, publiceras Bilias delårsrapport för andra kvartalet 2022. Samma dag arrangerar Bilia press- och analytikermöte via Financial Hearings, där CEO Per Avander och CFO Kristina Franzén presenterar rapporten och svarar på frågor. Presentationen börjar kl. 09:00. För att delta, vänligen ring in via telefonnummer eller följ presentationen på webblänk enligt nedan. Telekonferens: Ring in på tfn: 08 - 505 163 86 och ange PIN-kod: 7163030# För att följa sändningen på webben: https://financialhearings.com/event/44350 Göteborg den 6 juli 2022 Bilia AB (publ) För information vänligen kontakta: Carl Fredrik Ewetz, Investor Relations, 010-497 07 73, firstname.lastname@example.org Per Avander, VD och koncernchef, 010-497 70 00, email@example.com Kristina Franzén, CFO, 010-497 73 40, firstname.lastname@example.org Fakta om Biliakoncernen Bilia är en av Europas största bilåterförsäljare med en ledande position inom service och försäljning av personbilar, transportbilar oc
Press and analyst meeting6.7.2022 09:30:00 CEST | Press release
On Friday July 22, 2022, at 08:00 CEST, Bilia’s report for the second quarter 2022 will be published. On the same day Bilia arranges press and analyst meetings via Financial Hearings, where CEO Per Avander and CFO Kristina Franzén will present the report and answer questions. The presentation starts at 09:00 (CEST). To participate, please call in via telephone number or follow the presentation on the web link as below. Telephone conference: Dial-in number: SE +46 850516386, UK +44 2031984884, US +1 4123176300 and enter PIN code: 7163030# Follow the presentation on the web link: https://financialhearings.com/event/44350 Gothenburg, July 6, 2022 Bilia AB (publ) For information please contact: Carl Fredrik Ewetz, Investor Relations, +46 (0)10 497 07 73, email@example.com Per Avander, Managing Director and CEO, +46 (0)10 497 70 00, firstname.lastname@example.org Kristina Franzén, CFO, +46 (0)10 497 73 40, email@example.com Facts about the Bilia Group Bilia is one of Europe’s larges
Cargotec’s January–June 2022 half year financial report to be published on Wednesday, 20 July 20226.7.2022 08:30:00 CEST | Press release
CARGOTEC CORPORATION, PRESS RELEASE, 6 JULY 2022 AT 9:30 AM (EEST) Cargotec’s January–June 2022 half year financial report to be published on Wednesday, 20 July 2022 Cargotec Corporation will publish its January–June 2022 half year financial report on Wednesday, 20 July 2022 at approximately 1:30 p.m. EEST. The report will be available at www.cargotec.com after publication. A live international telephone conference for analysts, investors and media will be arranged on the publishing day at 3:00 p.m. EEST. The event will be held in English. The report will be presented by CEO Mika Vehviläinen and CFO Mikko Puolakka. The presentation material will be available at www.cargotec.com by latest 2:30 p.m. EEST. The telephone conference, during which questions may be presented, can be accessed with code 914555 by calling one of the following numbers: Finland +358 (0)9 7479 0572 France +33 (0)1 70 730 3 37 Germany +49 (0)69 22222 5195 Singapore +65 6703 6923 Sweden +46 (0)8 5664 2754 Switzerland
Saniona CEO Thomas Feldthus and board member Carl Johan Sundberg purchase Saniona shares in the open market6.7.2022 08:00:00 CEST | Press release
PRESS RELEASE July 6, 2022 Saniona (OMX: SANION), a clinical stage biopharmaceutical company, today announced that the CEO and a member of the Board of Directors have purchased 240,221 shares of the company in the open market for a total value of approximately SEK 0.9 million. Saniona CEO Thomas Feldthus bought 200,221 shares in the company for a total investment of SEK 785,683. Saniona board member Carl Johan Sundberg bought 40,000 shares in the company for a total investment of SEK 142,128. All transactions have been made in the open market during the period from July 1 to July 5, 2022. For more information, please contact Thomas Feldthus, CEO, +45 22109957; firstname.lastname@example.org This information was submitted for publication, through the agency of the contact person set out above, at 08.00 CEST onJuly 6, 2022. About Saniona Saniona is a clinical-stage biopharmaceutical company with a mission to leverage its ion channel targeting expertise to discover, develop and deliver innov