Recro Signs Renewable Energy Agreement With Georgia Power
September 21 2021 - 07:00AM
Recro Pharma, Inc. (“Recro”; NASD: REPH), a contract development
and manufacturing organization (CDMO) dedicated to solving complex
formulation and manufacturing challenges in small molecule
therapeutic development, today announced the signing of a renewable
energy agreement with Georgia Power under which the company will
purchase 1.2 million renewable energy credits (RECs) through
Georgia Power’s Simple Solar Program. The RECs purchased by Recro
under this agreement support the generation of renewable
electricity from low- or zero-emission resources, while also
reducing the emissions associated with the company’s electricity
use. Today’s announcement is being made in conjunction with Zero
Emissions Day, which is celebrated around the world on September
21st each year.
As part of Georgia Power’s Simple Solar Program,
a REC is created for every megawatt-hour (MWh) of electricity that
is generated and delivered to the power grid from a renewable
energy source. Recro’s RECs purchased contribute toward the
equivalent reduction of 937,426 tons of carbon dioxide emissions
and serve as a key component of the company’s ongoing environmental
sustainability program.
“Recro is committed to environmental
sustainability through our active support of programs and
initiatives which reduce our company’s impact on the environment.
Today’s agreement with Georgia Power to support the generation of
green electricity is the latest action that Recro has taken in an
effort to more efficiently utilize energy, water and materials,
while minimizing waste,” said Erica Raether, Recro’s vice president
of people, culture and ESG. “We believe that today’s action will
have a meaningful impact as the amount of renewable electricity
associated with the 1.2 million RECs purchased from Georgia Power
is equivalent to the total annual electricity use of more than
100,000 homes in the U.S.”
To date, Recro has already made significant
strides with its robust environmental sustainability program. This
program, which includes a number of employee-focused and
employee-led initiatives, has resulted in milestones in offsetting
its carbon emissions and minimizing its energy and water usage. For
example, since its inception in 2019, the environment
sustainability program has led to estimated annual savings of more
than 1.3 million pounds of carbon dioxide (C02) and 300,000 gallons
of water. To learn more about Recro’s environment sustainability
program, please visit: www.recrocdmo.com/about/sustainability/.
About RecroRecro (NASD: REPH)
is a bi-coastal contract development and manufacturing organization
(CDMO) with capabilities spanning pre-Investigational New Drug
(IND) development to commercial manufacturing and packaging for a
wide range of small molecule therapeutic dosage forms. With an
expertise in solving complex manufacturing problems, Recro is a
leading CDMO providing small molecule therapeutic development,
end-to-end regulatory support, clinical and commercial
manufacturing, aseptic fill/finish, lyophilization, packaging and
logistics services to the global pharmaceutical market.
In addition to our experience in handling DEA
controlled substances and developing and manufacturing modified
release dosage forms, Recro has the expertise to deliver on our
clients’ pharmaceutical development and manufacturing projects,
regardless of complexity level. We do all of this in our
best-in-class facilities, which total 145,000 square feet, in
Gainesville, Georgia and San Diego, California.
For more information about Recro’s CDMO
solutions, visit recrocdmo.com.
Forward-Looking StatementsThis
press release includes forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. These statements, among
other things, the Company’s expectations regarding the completion
of the proposed public offering, the Company’s use of proceeds from
the proposed offering, and other statements. The words
“anticipate”, “believe”, “could”, “estimate”, “upcoming”, “expect”,
“intend”, “may”, “plan”, “predict”, “project”, “will” and similar
terms and phrases may be used to identify forward-looking
statements in this press release. Our operations involve risks and
uncertainties, many of which are outside our control, and any one
of which, or a combination of which, could materially affect our
results of operations and whether the forward-looking statements
ultimately prove to be correct. Factors that could cause the
company’s actual outcomes to differ materially from those expressed
in or underlying these forward-looking statements include risks and
uncertainties associated with the ongoing economic and social
consequences of the COVID-19 pandemic, including any adverse impact
on the customer ordering patterns or inventory rebalancing or
disruption in raw materials or supply chain; demand for the
company’s services, which depends in part on customers’ research
and development and the clinical plans and market success of their
products; customers’ changing inventory requirements and
manufacturing plans; customers and prospective customers decisions
to move forward with the company’s manufacturing services; the
average profitability, or mix, of the products the company
manufactures; the company’s ability to enhance existing or
introduce new services in a timely manner; fluctuations in the
costs, availability, and suitability of the components of the
products the company manufactures, including active pharmaceutical
ingredients, excipients, purchased components and raw materials, or
the company’s customers facing increasing or new competition. These
forward-looking statements should be considered together with the
risks and uncertainties that may affect our business and future
results presented herein along with those risks and uncertainties
discussed in our filings with the Securities and Exchange
Commission at www.sec.gov. These forward-looking statements are
based on information currently available to us, and we assume no
obligation to update any forward-looking statements except as
required by applicable law.
Contacts:
Stephanie Diaz (Investors)
Vida Strategic Partners
415-675-7401
sdiaz@vidasp.com
Tim Brons (Media)
Vida Strategic Partners
415-675-7402
tbrons@vidasp.com
Ryan D. Lake (CFO)
Recro
770-531-8365
ryan.lake@recroCDMO.com
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