Doing Business in Ukraine

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UKRAINE FACTS
GDP:   $106.5 billion
GDPPC (PPP) $6300
Population: 47 million
Exch rate to $: 5.05 Hryvnia
Area: 603,700 sqkm
Arable Land: 53.8%
Legal System: Civil law
Labor Force: 22.67 million
Major Exports metals
Major Imports fuel, energy
   

FOR IMMEDIATE RELEASE



GeoRenewal.org announces first overseas market in Ukraine 
Initiative is supported by U.S.-Ukraine Foundation

GeoRenewal.org announces its first overseas business initiative for Ukraine in the area of renewable energy.  The firm is based in Brownsburg, Indiana and it will be working with the JDN Corp of Hartford, CT on the venture.

This decision is based on sound technological breakthroughs and other factors that make Ukraine a highly attractive market for the investment. More importantly, it is an initiative prompted as much by economic opportunities as by the high need by Ukrainian people for affordable, clean energy. Ukraine has a very favorable thermal profile as well as a substantial solar profile. This initiative uses a unique combination of proprietary hybrid solar and ground source geothermal technology from Geothermal Innovations.

Ukraine has recently passed several laws supporting energy efficiency projects and other reforms that demonstrated the commitment of the Government of Ukraine to improve the business climate in Ukraine. More importantly, multilateral development banks, such as the European Bank for Reconstruction and Development (EBRD) has committed to providing financial support for projects in Ukraine in the areas of energy efficiency and renewable energy.

Per the President of Ukraine Renewal, James Hardin, “Life in Ukraine today can be heartbreaking and so challenging. The people of Ukraine and the Government of Ukraine seem to have demonstrated a strong desire for change through their actions, some of which have been paid for with sacrifices. I am proud to be able to make a major contribution to help in the effort.”

Created new company Ukraine Renewal L3C to do this work

This initiative is being done through Ukraine Renewal L3C headed up by President James Hardin. It is being done as a demonstration that incorporates a socially responsible approach focusing on the triple bottom line – people, planet, and profit – that can thrive in the Ukraine. An L3C (Low-profit Limited Liability Company) is an ideal vehicle for our initiative because it allows for a win-win-win approach.

According to Mark Roberts, JDN Corp President, who is also a Native American, “This approach ties into traditional Native People values of empowering community with respect for the environment. At the same time, we are also committed to creating very good paying, interesting jobs and generating a profit without degrading the environment.”
This initiative is supported by the U.S.-Ukraine Foundation, a DC-based NGO, working in Ukraine for 24 years.

For More Information:
James Hardin, Ukraine Renewal L3C, jhardin@georenewal.org
Christopher Duffy, GeoRenewal, cduffy@georenewal.org
Phone:  317-506-7430

Ukraine Renewal L3C

Key points:

  1. Totally renewable, clean energy solutions for Ukraine  that can be installed within a tight footprint, suitable even in built environment with high density such as cities
  2. The majority of products used would be imported from US manufacturing Companies. 
  3. Cutting edge American manufacturing technology combined with job training, creating a highly skilled Ukrainian work force to install and support
  4. Creates high paying jobs for both Ukraine and the United States
  5. Demonstrating the economic and social viability of corporate responsibility in Ukraine focusing on the triple bottom line:  people, planet, and profit
  6. This Ukraine initiative is supported by the U.S.-Ukraine Foundation, a DC based NGO, working in Ukraine for 24 years.