Recro Signs Renewable Energy Agreement With Georgia Power
Investment in Renewable Energy Credits Represents Key Component of Company’s Ongoing Environmental Sustainability Program
EXTON, Pa., Sept. 21, 2021 (GLOBE NEWSWIRE) — 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 Recro
Recro (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 Statements
This 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.
CONTACT: 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
