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Monday, September, 26, 2022

Press Release

Rain Carbon Developing European Energy-Mitigation Plan to Address Potential Winter Natural Gas Issues
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STAMFORD, Conn., Sept. 9, 2022 /PRNewswire/ — Rain Carbon Inc., a leading global producer of carbon-based products and advanced materials, today announces that it has temporarily closed an operating unit in Europe and is developing additional energy-related contingency plans for its other European production units in anticipation of potential natural gas shortages and price spikes during the upcoming winter months resulting from the unprecedented and unpredictable geopolitical environment.

“Given the severe natural gas situation in Europe — the expected decrease in consumer demand during the cold winter months for certain products and the risk of continued increases in gas prices – we have conducted a thorough analysis of the energy-intensity of each production unit at our European plants and are closely evaluating whether it makes economic sense to temporarily reduce or shut down additional production lines in the event the situation worsens,” said Rain Carbon President Gerry Sweeney.

Rain Carbon’s European footprint is essential to the company’s global operations, and these decisions are being made be taken to ensure the long-term viability of operations. Additionally, the company is closely monitoring its suppliers and customers, as some of them are taking similar actions that could indirectly or directly impact operations as well. Any measures taken are expected to be temporary, and Rain Carbon is fully committed to returning to full operations when the situation improves.

About Rain Carbon Inc.

Rain Carbon Inc. is a leading vertically integrated global producer of carbon-based products that are essential raw materials for staples of everyday life. We operate in two business segments: Carbon and Advanced Materials. Our Carbon business segment converts the byproducts of oil refining and steel production into high-value, carbon-based products that are critical raw materials for the aluminum, graphite electrode, carbon black, wood preservation, titanium dioxide, refractory, and several other global industries. Our Advanced Materials business segment extends the value chain of our carbon processing through the innovative downstream transformation of a portion of our carbon output and other raw materials into high-value, eco-friendly and advanced-material products that are critical raw materials for the specialty chemicals, coatings, construction, automotive, petroleum and several other global industries. Learn more about Rain Carbon at www.raincarbon.com.

Logo – https://mma.prnewswire.com/media/709243/Rain_Carbon_Logo.jpg

Disclaimer: This Press Release has not been vetted or endorsed by The Eastern Herald's editorial staff.

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