US-based TFCC to Infuses $4.14 bn in Chennai Chemicals Firm
Ceoinsights Team, 0
The money would be deployed in environment-to-energy management systems and renewable energy devices with high storage capacity that are made from sodium silicate. The investment would be with a horizon of five to seven years, and the first round would close by January 2021.
Chris Curtis, Chairman, TFCC International said, "We are looking forward to this business with great anti cipation. Technologies such as those promoted by Ramcharan, and the immense headroom for sustainable growth,
echoes with our investment objectives, and we believe that Ramcharan's products in the waste to energy field and the new generation of energy storage devices will help the environment in a significant manner. It also is in line with the global sentiment expressed in the recently concluded COP26 meets, and in line with Prime Minister Narendra Modi's expectation for India".
TFCC International is a deep impact fund, with investments from high net worth individuals, govern ment agencies and financial institutions based in New York. It has had investments in West Asia and South Asia; in India it is looking at impact investments in the areas of environment solutions, renewable energy and low cost housing. Currently, with a portfolio of $20 billion invested in South Asia, TFCC is entering the Indian market through its investment in Ramcharan Co.
TFCC had signed an MoU with Ramcharan in March this year to invest into its equity, which was concluded with a shareholders'agreement in October 2021. Ramcharan currently has a business plan and orders of up to $9 billion and is looking at surge sales from three years to the sixth year of its production, taking the expected revenue to $40 billion after the fourth year.
The technology used by Ramcharan allows for zero toxic residue, and can convert all types of unsegregated waste into energy. Ramcharan had started off as a chemical distribution company and moved to research based on managing end-of-life chemicals owing to the harm they cause to the environment.
TFCC International is a deep impact fund, with investments from high net worth individuals, govern ment agencies and financial institutions based in New York. It has had investments in West Asia and South Asia; in India it is looking at impact investments in the areas of environment solutions, renewable energy and low cost housing. Currently, with a portfolio of $20 billion invested in South Asia, TFCC is entering the Indian market through its investment in Ramcharan Co.
TFCC had signed an MoU with Ramcharan in March this year to invest into its equity, which was concluded with a shareholders'agreement in October 2021. Ramcharan currently has a business plan and orders of up to $9 billion and is looking at surge sales from three years to the sixth year of its production, taking the expected revenue to $40 billion after the fourth year.
The technology used by Ramcharan allows for zero toxic residue, and can convert all types of unsegregated waste into energy. Ramcharan had started off as a chemical distribution company and moved to research based on managing end-of-life chemicals owing to the harm they cause to the environment.