TAAT™ Menthol is the First TAAT™ Variety to be Sold Out and Reordered by Ohio Tobacco Retailers

During the initial weeks in which TAAT™ Original, Smooth, and Menthol were available for purchase by legal-aged smokers in Ohio, the TAAT™ Menthol variety was the first to be reordered by tobacco retailers who sold out of this variant. Prior to launching TAAT™ in the United States, the Company issued a press release detailing its intent to place a strategic focus on the menthol cigarette segment. The market for menthol cigarettes is valued at approximately USD $80 billion globally, and menthol cigarettes represent about 45% of combustible tobacco sales in Pennsylvania, a neighbouring state to Ohio.

LAS VEGAS and VANCOUVER, British Columbia, Jan. 12, 2021 (GLOBE NEWSWIRE) — TAAT LIFESTYLE & WELLNESS LTD. (CSE: TAAT) (OTCQB: TOBAF) (FRANKFURT: 2TP2) (the “Company” or “TAAT”) is pleased to announce that the Menthol variety of TAAT™, its flagship product, was the first to sell out during the initial weeks of availability of TAAT™ products at retail in Ohio. Tobacco retailers who sold out of TAAT™ Menthol have placed reorders through their respective tobacco distributors who carry TAAT™. The Company continues to focus its efforts on commercializing all three varieties of TAAT™ in a balanced manner to legal-aged smokers in the state of Ohio, while continuously analyzing sales data for TAAT™ Original, Smooth, and Menthol to develop strategies that are specific to each product variety based on actual market performance.

In a press release dated July 3, 2020, the Company outlined its provisional strategy for gaining market share in the menthol subset of the USD $814 billion global tobacco industry, a segment which was valued at approximately USD $80 billion in 2018 by Grand View Research1. Menthol cigarettes, which were invented in Ohio in 19242, gained popularity due to the unique “cooling” sensation from added menthol (C10H20O). The first major brand of menthol cigarettes in the United States, known as Kools, advertised “throat comfort” as a defining attribute in comparison to traditional tobacco cigarettes. Major tobacco companies began offering standalone brands of menthol cigarettes beginning in the 1950s including R.J. Reynolds (Salem), Lorillard (Newport, Spring), and Philip Morris (Alpine)3. Menthol cigarettes remain immensely popular in the United States, with Newport menthol cigarettes holding a market share of approximately 14%, second only to Marlboro4.

Promotional graphic for TAAT™ Menthol, one of the three varieties of TAAT™ that became available for sale to legal-aged smokers in Ohio beginning last year:
https://www.globenewswire.com/NewsRoom/AttachmentNg/232445ee-0420-4dd0-922d-1bdaf199f1d9

Readers using news aggregation services may be unable to view the media above. Please access SEDAR or the

Investor Relations

section of the Company’s website for a version of this press release containing all published media.

The popularity of TAAT™ Menthol could play a key role in potential expansion initiatives by the Company in the northeastern United States due to a high proportion of menthol combustible tobacco sales in specific states. Based on data from 2011 through 2016 sourced by Nielsen, the three states with the highest proportion of menthol cigarettes in combustible tobacco sales were Pennsylvania (45%), Maryland (44%), and Delaware (43.3%)5. In the same data, Ohio’s proportion of menthol cigarettes in combustible tobacco sales was just 31.3%. Internationally, menthol cigarettes hold substantial market share in several Asian markets such as the Philippines (estimated by Philip Morris to be 49.4% in 20106), one of the countries in which TAAT™ recently filed trademark applications.

The Company’s distribution partners have managed to fulfill reorders of TAAT™ Menthol as part of standard routing procedures. In an effort to create a competitive edge in a given market, the Company is diligently establishing and maintaining a robust distribution network in order to ensure a constant availability of TAAT™ at all points of sale. Furthermore, a multi-pallet shipment of TAAT™ Original, Smooth, and Menthol is destined to arrive in Ohio later this quarter as the Company continues to build out the presence of TAAT™ in its initial market.

Original United States patent for menthol cigarettes filed in 1924 by Lloyd Hughes of Ohio

2

, where TAAT™ has recently introduced its tobacco-free and nicotine-free combustible product with menthol flavouring:
https://www.globenewswire.com/NewsRoom/AttachmentNg/16f7c977-b878-449a-b0d3-ac32b7ba17d1

Readers using news aggregation services may be unable to view the media above. Please access SEDAR or the

Investor Relations

section of the Company’s website for a version of this press release containing all published media.

TAAT™ Chief Executive Officer Setti Coscarella commented, “Unlike those who prefer traditional tobacco cigarettes, legal-aged smokers of menthols enjoy a very specific combination of flavours which is difficult to duplicate, especially in non-combustible formats. Our objective with TAAT™ is to offer legal-aged smokers a better alternative to tobacco cigarettes by aligning our tobacco-free and nicotine-free products with what they are already enjoying, which includes menthol flavouring in TAAT™ Menthol to closely emulate the experience of smoking a menthol cigarette. Although non-flavoured tobacco comprises the majority of the tobacco market, there are many markets in the United States in which over one third of all cigarettes sold are menthols. As such, this is not a product category to be overlooked. Although we have not specifically focused our marketing efforts to legal-aged smokers on the TAAT™ Menthol variety, we are pleased to see that this specific SKU has sold well in our first few weeks. We look forward to gathering more sales data as well as product feedback from legal-aged smokers as we continue commercializing TAAT™ products in the USD $814 billion global tobacco industry.”

TAAT™ Chief Revenue Officer Tim Corkum commented, “After a few weeks of TAAT™ being sold at retail in Ohio, we have had opportunities to gather data regarding how it has performed among the legal-aged smokers who have purchased the product. General reception has been excellent for all three varieties of TAAT™, though TAAT™ Menthol was the first to be sold out and reordered. These learnings are especially valuable for us, as they can only be obtained through data from actual sales. Based on the performance of TAAT™ Menthol in Ohio so far, we recognize that these learnings can be especially valuable in potential expansions into new markets, especially in states such as Pennsylvania where 45% of the combustible tobacco market consists of menthols. I have brought many tobacco category products to market across North America, and this phase in which meaningful sales insights begin to emerge is pivotal to any product launch and shaping the product’s long-term commercialization plan, whether at a regional or national level.”

Sources

1 – https://www.grandviewresearch.com/industry-analysis/menthol-cigarette-market

2 – https://patents.google.com/patent/US1555580A/en?inventor=Lloyd+F+Hughes

3 – https://www.industrydocuments.ucsf.edu/tobacco/docs/#id=pzkj0136

4 – https://www.cdc.gov/tobacco/data_statistics/fact_sheets/tobacco_industry/brand_preference/index.htm

5 – https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5711620/

On behalf of the Board of Directors of the Company,

TAAT LIFESTYLE & WELLNESS LTD.

“Setti Coscarella”

Setti Coscarella, CEO and Director

For further information, please contact:

TAAT™ Investor Relations
1-833-TAAT-USA (1-833-822-8872)
[email protected]

THE CANADIAN SECURITIES EXCHANGE (“CSE”) HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE, NOR HAS OR DOES THE CSE’S REGULATION SERVICES PROVIDER.

About TAAT Lifestyle & Wellness Ltd.

The Company has developed TAAT™, which is a tobacco-free and nicotine-free alternative to traditional cigarettes offered in “Original”, “Smooth”, and “Menthol” varieties. TAAT™’s base material is Beyond Tobacco™, a proprietary blend which undergoes a patent-pending refinement technique causing its scent and taste to resemble tobacco. Under executive leadership with “Big Tobacco” pedigree, TAAT™ is launching in the United States in Q4 2020 as the Company seeks to position itself in the $814 billion1 global tobacco industry.

For more information, please visit http://taatglobal.com.

References

1

British American Tobacco – The Global Market

Forward-Looking Statements

This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Often, but not always, forward-looking information and information can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur, or be achieved. Forward-looking information in this news release includes statements regarding the potential launch of Beyond Tobacco™, in addition to the following: Potential future performance of TAAT™ Menthol in Ohio or other markets in which the product may be made available for purchase by legal-aged smokers. The forward-looking information reflects management’s current expectations based on information currently available and are subject to a number of risks and uncertainties that may cause outcomes to differ materially from those discussed in the forward-looking information. Although the Company believes that the assumptions and factors used in preparing the forward-looking information are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed timeframes or at all. Factors that could cause actual results or events to differ materially from current expectations include: (i) adverse market conditions; (ii) changes to the growth and size of the tobacco markets; and (iii) other factors beyond the control of the Company. The Company operates in a rapidly evolving environment. New risk factors emerge from time to time, and it is impossible for the Company’s management to predict all risk factors, nor can the Company assess the impact of all factors on Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ from those contained in any forward-looking information. The forward-looking information included in this news release are made as of the date of this news release and the Company expressly disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable law.

The statements in this news release have not been evaluated by Health Canada or the U.S. Food and Drug Administration. As each individual is different, the benefits, if any, of taking the Company’s products will vary from person to person. No claims or guarantees can be made as to the effects of the Company’s products on an individual’s health and well-being. The Company’s products are not intended to diagnose, treat, cure, or prevent any disease.

This news release may contain trademarked names of third-party entities (or their respective offerings with trademarked names) typically in reference to (i) relationships had by the Company with such third-party entities as referred to in this release and/or (ii) client/vendor/service provider parties whose relationship with the Company is/are referred to in this release. All rights to such trademarks are reserved by their respective owners or licensees.

Statement Regarding Third-Party Investor Relations Firms

Disclosures relating to investor relations firms retained by TAAT™ Lifestyle & Wellness Ltd. can be found under the Company’s profile on http://sedar.com.

 



Merus Announces Collaborations with Nationwide Medical Organizations in the Netherlands and Japan to Enhance Screening and Identification of Cancer Patients with NRG1 Fusion Tumors and to Raise Awareness of the eNRGy Clinical Trial

UTRECHT, The Netherlands, and CAMBRIDGE, Mass., Jan. 12, 2021 (GLOBE NEWSWIRE) — Merus N.V. (Nasdaq: MRUS), a clinical-stage oncology company developing innovative, full-length multispecific antibodies (Biclonics® and Triclonics™), today announced collaborations with nationwide medical organizations in the Netherlands and Japan to raise awareness of the eNRGy trial and to provide molecular screening opportunities for patients with cancers that may have neuregulin 1 (NRG1) fusions. In the collaborations, Merus has agreed to support access to next generation sequencing for eligible patients with pancreatic adenocarcinoma in the Netherlands, and pancreatic adenocarcinoma and non-small cell lung cancer (NSCLC) in Japan, aimed to identify the presence of NRG1 fusions and raise awareness of potential paths to enrollment in Merus’ Phase 1/2 eNRGy trial of bispecific antibody zenocutuzumab (Zeno). The collaborating organizations in the two countries are:


  • Erasmus
    University
    Medical Center

    Rotterdam (Erasmus MC)
    in the Netherlands has agreed to perform a nationwide campaign, in affiliation with the Dutch Pancreatic Cancer Group (DPCG), to raise awareness of next generation genome screening offered by Merus for eligible patients with a diagnosis of pancreatic adenocarcinoma at all 17 pancreatic cancer centers in the Netherlands, and availability of the eNRGy trial for eligible patients. Erasmus MC, based in Rotterdam, is the largest University Medical Center in the Netherlands and is devoted to providing outstanding care, facilitating world-class education and conducting pioneering research.


  • National Cancer Center (NCC) Japan
    has agreed to provide RNA sequencing, funded in part by Merus, for eligible patients with pancreatic adenocarcinoma and patients with NSCLC to identify NRG1 fusions. Patients with pancreatic adenocarcinoma will be directed to the SCRUM-Japan GI-SCREEN program. Patients with NSCLC will be directed to the LC-SCRUM-Asia program. Both programs are part of an Asian genome screening platform operating within institutions participating in the GI-SCREEN and LC-SCRUM-Asia programs, including the NCC Hospital East (NCCHE) and approximately 215 other institutions in Japan, to identify patients with targetable gene alterations for the development of novel targeted therapies. NCC Japan, established in 1962, is a leading medical institution in cancer treatment and research in Japan. NCCHE, established in 1992, is one of the leading specialized cancer hospitals in Japan, treating over 9,000 new patients each year. NCCHE has been promoting the development of innovative cancer medicines and medical devices, including first-in-human trials of new cancer medicines and investigator-initiated trials.

“Merus is supporting a broad molecular screening effort for patients who are not routinely screened for gene mutations,” said Dr. Andrew Joe, Chief Medical Officer of Merus. “Partnering with prestigious academic institutions and national cooperative groups of investigators dedicated to the treatment of cancer is a strategic effort we are undertaking as we seek to advance enrollment in our eNRGy clinical trial to explore the potential for Zeno to become a compelling new treatment option for cancer patients with NRG1 fusions.”

About the eNRGy Clinical Trial

Merus is currently enrolling patients in the Phase 1/2 eNRGy trial to assess the safety and anti-tumor activity of Zeno monotherapy in NRG1+ cancers. The eNRGy trial consists of three cohorts: NRG1+ pancreatic cancer; NRG1+ non-small cell lung cancer; and NRG1+ other solid tumors. Further details, including current trial sites, can be found at www.ClinicalTrials.gov and Merus’ trial website at www.nrg1.com or by calling 1-833-NRG-1234.

About NRG1 Fusions

The NRG1 gene encodes neuregulin (also known as heregulin), the ligand for HER3. Fusions between NRG1 and partner genes are rare, tumorigenic genomic events occurring in patients with certain cancers.

About Zeno

Zeno is an antibody-dependent cell-mediated cytotoxicity (ADCC)-enhanced Biclonics® that utilizes the Merus Dock & Block® mechanism to inhibit the neuregulin/HER3 tumor-signaling pathway in solid tumors. Through its unique mechanism of binding to HER2 and potently blocking the interaction of HER3 with its ligand NRG1 or NRG1-fusion proteins, Zeno has the potential to be particularly effective against NRG1+ cancers. In preclinical studies, Zeno also potently inhibits HER2/HER3 heterodimer formation and tumor growth in models harboring NRG1 fusions.

Learn more about Zeno Dock & Block® at https://merus.nl/technology/.

About Merus

Merus is a clinical-stage oncology company developing innovative full-length human bispecific and trispecific antibody therapeutics, referred to as Multiclonics®. Multiclonics® are manufactured using industry standard processes and have been observed in preclinical and clinical studies to have several of the same features of conventional human monoclonal antibodies, such as long half-life and low immunogenicity. For additional information, please visit Merus’ website, www.merus.nl and https://twitter.com/MerusNV.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including without limitation, statements regarding the potential of collaborations with Erasmus MC and NCC to raise awareness of the eNRGy trial and to provide molecular screening opportunities for patients with cancers that may have NRG1 fusions; the aim of identifying the presence of NRG1 fusions and potential paths to enrollment in Merus’ Phase 1/2 eNRGy trial; any results from the strategic effort Merus is undertaking through these agreements to seek to advance enrollment in our eNRGy clinical trial to explore the potential of Zeno to become a compelling new treatment option for cancer patients with NRG1 fusions. These forward-looking statements are based on management’s current expectations. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, the following: our need for additional funding, which may not be available and which may require us to restrict our operations or require us to relinquish rights to our technologies or antibody candidates; potential delays in regulatory approval, which would impact our ability to commercialize our product candidates and affect our ability to generate revenue; the lengthy and expensive process of clinical drug development, which has an uncertain outcome; the unpredictable nature of our early stage development efforts for marketable drugs; potential delays in enrollment of patients, which could affect the receipt of necessary regulatory approvals; our reliance on third parties to conduct our clinical trials and the potential for those third parties to not perform satisfactorily; impacts of the COVID-19 pandemic; we may not identify suitable Biclonics® or bispecific antibody candidates under our collaborations or our collaborators may fail to perform adequately under our collaborations; our reliance on third parties to manufacture our product candidates, which may delay, prevent or impair our development and commercialization efforts; protection of our proprietary technology; our patents may be found invalid, unenforceable, circumvented by competitors and our patent applications may be found not to comply with the rules and regulations of patentability; we may fail to prevail in potential lawsuits for infringement of third-party intellectual property; and our registered or unregistered trademarks or trade names may be challenged, infringed, circumvented or declared generic or determined to be infringing on other marks.

These and other important factors discussed under the caption “Risk Factors” in our Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2020 filed with the Securities and Exchange Commission, or SEC, on November 5, 2020, and our other reports filed with the SEC, could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management’s estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change, except as required under applicable law. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release.



Investor and Media Inquiries:
Jillian Connell
Merus N.V.
Investor Relations and Corporate Communications
617-955-4716
[email protected]

Kathleen Farren
Merus N.V.
Communications Specialist
[email protected]

Cerecor Inc. Announces Closing of $36.4 Million Public Offering of Common Stock and Pre-Funded Warrants

ROCKVILLE, Md. and CHESTERBROOK, Pa., Jan. 12, 2021 (GLOBE NEWSWIRE) — Cerecor Inc. (Nasdaq: CERC), a biopharmaceutical company focused on becoming a leader in development and commercialization of treatments for rare pediatric and orphan diseases, announced today the closing of the previously announced underwritten offering of 12,323,077 shares of its common stock at a public offering price of $2.60 per share (the “Public Offering Price”). In addition, and in lieu of common stock, the Company offered to a certain existing investor pre-funded warrants to purchase up to an aggregate of 1,676,923 shares of common stock at a purchase price of $2.599 per pre-funded warrant, which represents the Public Offering Price for the common stock less the $0.001 per share exercise price for each pre-funded warrant. Certain related parties purchased shares of Cerecor common stock in the offering.

Jefferies acted as the sole book-running manager for the offering and Oppenheimer & Co. acted as lead manager for the offering.

The Company also has granted to the underwriters a 30-day option to purchase up to an additional 2,100,000 shares of common stock at the Public Offering Price. The net proceeds to Cerecor from the offering are expected to be approximately $33.6 million (or $38.7 million if the underwriters exercise their option to purchase additional shares of common stock in full), after deducting the underwriting discounts and commissions and estimated offering expenses payable by Cerecor. Cerecor intends to use the net proceeds of the offering for general corporate purposes and working capital, primarily to support the ongoing clinical development of key assets within its pipeline and for general and administrative expenses.

The securities described above were offered by Cerecor pursuant to an effective shelf registration statement on Form S-3 (File No. 333-233978), previously filed with the U.S. Securities and Exchange Commission (the “SEC”) on September 27, 2019 and declared effective on October 24, 2019, and the accompanying prospectus contained therein. The offering of securities was made by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A final prospectus relating to and describing the terms of the offering has been filed with the SEC. Copies of the final prospectus relating to the offering may be obtained on the SEC’s website at http://www.sec.gov or by contacting Jefferies LLC at 520 Madison Avenue, 2nd Floor, New York, NY 10022, Attention: Equity Syndicate Prospectus Department, by e-mail at [email protected] or by calling (877) 547-6340.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Cerecor Inc.

Cerecor is a biopharmaceutical company focused on becoming a leader in the development and commercialization of treatments for rare and orphan diseases. The company is advancing its clinical-stage pipeline of innovative therapies that address unmet patient needs within rare and orphan diseases. The company’s rare disease pipeline includes CERC-801, CERC-802 and CERC-803, which are in development for congenital disorders of glycosylation and CERC-006, an oral mTORc1/c2 inhibitor in development for the treatment of complex lymphatic malformations. The company is also developing two monoclonal antibodies, CERC-002, and CERC-007. CERC-002 targets the cytokine LIGHT (TNFSF14) and is in clinical development for treatment of severe pediatric-onset Crohn’s disease, and COVID-19 acute respiratory distress syndrome. CERC-007 targets the cytokine IL-18 and is in clinical development for the treatment of Still’s disease (adult-onset Still’s disease (AOSD) and systemic juvenile idiopathic arthritis (sJIA)), and multiple myeloma (MM). CERC-006, 801, 802 and 803 have all received Orphan Drug Designation and Rare Pediatric Disease Designation, which makes all four eligible for a priority review voucher upon FDA approval.

For more information about Cerecor, please visit www.cerecor.com.

Forward-Looking Statements

This press release may include forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subject to significant risks and uncertainties that are subject to change based on various factors (many of which are beyond Cerecor’s control), which could cause actual results to differ from the forward-looking statements. Such statements may include, without limitation, statements with respect to Cerecor’s plans, objectives, projections, expectations and intentions and other statements identified by words such as “projects,” “may,” “might,” “will,” “could,” “would,” “should,” “continue,” “seeks,” “aims,” “predicts,” “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “potential,” or similar expressions (including their use in the negative), or by discussions of future matters such as: the development of product candidates or products; timing and success of trial results and regulatory review; potential attributes and benefits of product candidates; and other statements that are not historical. These statements are based upon the current beliefs and expectations of Cerecor’s management but are subject to significant risks and uncertainties, including: drug development costs, timing and other risks, including reliance on investigators and enrollment of patients in clinical trials, which might be slowed by the COVID-19 pandemic; regulatory risks; Cerecor’s cash position and the potential need for it to raise additional capital; general economic and market risks and uncertainties, including those caused by the COVID-19 pandemic; and those other risks detailed in Cerecor’s filings with the Securities and Exchange Commission. Actual results may differ from those set forth in the forward-looking statements. Except as required by applicable law, Cerecor expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Cerecor’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

For media and investor inquiries

James Harrell
Investor Relations
Chief Commercial Officer
Cerecor Inc.
[email protected] 
623.439.2220 office



Rattler Midstream LP, a Subsidiary of Diamondback Energy, Inc., Schedules Fourth Quarter 2020 Conference Call for February 25, 2021

MIDLAND, Texas, Jan. 12, 2021 (GLOBE NEWSWIRE) — Rattler Midstream LP (NASDAQ: RTLR) (“Rattler”), a subsidiary of Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback”), today announced that it plans to release fourth quarter 2020 financial results on February 24, 2021 after the market closes.

In connection with the earnings release, Rattler will host a conference call and webcast for investors and analysts to discuss its results for the fourth quarter of 2020 on Thursday, February 25, 2021 at 9:00 a.m. CT. Participants should call (877) 288-2756 (United States/Canada) or (470) 495-9481 (International) and use the confirmation code 5272909. A telephonic replay will be available from 12:00 p.m. CT on Thursday, February 25, 2021 through Thursday, March 4, 2021 at 12:00 p.m. CT. To access the replay, call (855) 859-2056 (United States/Canada) or (404) 537-3406 (International) and enter confirmation code 5272909. A live broadcast of the earnings conference call will also be available via the internet at www.rattlermidstream.com under the “Investor Relations” section of the site. A replay will also be available on the website following the call.

About Rattler Midstream LP

Rattler Midstream LP is a growth-oriented Delaware limited partnership formed in July 2018 by Diamondback Energy to own, operate, develop and acquire midstream infrastructure assets in the Midland and Delaware Basins of the Permian Basin. Rattler provides crude oil, natural gas and water-related midstream services to Diamondback under long-term, fixed-fee contracts. For more information, please visit www.rattlermidstream.com.

About Diamondback Energy, Inc.

Diamondback is an independent oil and natural gas company headquartered in Midland, Texas focused on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas.  For more information, please visit www.diamondbackenergy.com.

Investor Contact:
Adam Lawlis
+1 432.221.7467
alawlis@rattlermidstream.com



Diamondback Energy, Inc. Schedules Fourth Quarter 2020 Conference Call for February 23, 2021

MIDLAND, Texas, Jan. 12, 2021 (GLOBE NEWSWIRE) — Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback”), today announced that it plans to release fourth quarter 2020 financial results on February 22, 2021 after the market closes.

In connection with the earnings release, Diamondback will host a conference call and webcast for investors and analysts to discuss its results for the fourth quarter of 2020 on Tuesday, February 23, 2021 at 8:00 a.m. CT. Participants should call (877) 440-7573 (United States/Canada) or (253) 237-1144 (International) and use the confirmation code 2863138. A telephonic replay will be available from 11:00 a.m. CT on Tuesday, February 23, 2021, through Tuesday, March 2, 2021 at 11:00 a.m. CT. To access the replay, call (855) 859-2056 (United States/Canada) or (404) 537-3406 (International) and enter confirmation code 2863138. A live broadcast of the earnings conference call will also be available via the internet at www.diamondbackenergy.com under the “Investor Relations” section of the site. A replay will also be available on the website following the call.

About Diamondback Energy, Inc.

Diamondback is an independent oil and natural gas company headquartered in Midland, Texas focused on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas.  For more information, please visit www.diamondbackenergy.com.                                                

Investor Contact:
Adam Lawlis
+1 432.221.7467
[email protected]



Florida Cancer Specialists & Research Institute Welcomes Dr. Jessica Stine

Fort Myers, Fla., Jan. 12, 2021 (GLOBE NEWSWIRE) — Florida Cancer Specialists & Research Institute (FCS) welcomes Board-certified gynecologic oncologist Jessica Stine, MD. She is caring for patients at the FCS New Port Richey location at 8763 River Crossing Blvd., New Port Richey, FL and in Wesley Chapel at 2391 Oak Myrtle Lane, Wesley Chapel, FL.

After earning her medical degree from the University of Miami, Dr. Stine completed her residency in obstetrics and gynecology at Jackson Memorial Hospital, where she served as administrative chief resident. She was then awarded a fellowship in gynecologic oncology from the University of North Carolina Hospitals in Chapel Hill.

Prior to joining FCS, Dr. Stine established herself as a well-respected gynecologic oncologist caring for patients in the Tampa Bay area. She worked as a proctor and speaker at da Vinci Surgery™ and as an associate professor for the obstetrics and gynecology residency at Brandon Regional Hospital. Dr. Stine is an advanced robotic surgeon who performs the highest volume of gynecologic robotic surgery in the Tampa Bay area. She has a special interest in fertility sparing approaches and is one of the few physicians trained to perform a radical trachelectomy for young cervical cancer patients who wish to preserve their ability to conceive.

Dr. Stine has a strong interest in research with a focus on ovarian and endometrial cancers and palliative care. She has presented at numerous professional conferences, including the Society of Gynecologic Oncology, the American Society of Clinical Oncology and the American Society for Radiation Oncology. Her research has been published in multiple peer-reviewed journals and she is the recipient of multiple awards for excellence in research.

“We are proud to expand access to gynecologic cancer care within the New Port Richey community with the addition of this oncology specialty,” said FCS Chief Executive Officer Nathan H. Walcker.

FCS President & Managing Physician Dr. Lucio Gordan added, “Dr. Stine has an extensive background in gynecologic oncology and a reputation for compassionate care and support for her patients. She has been involved in cancer research resulting in promising treatment advancements. We are pleased to welcome her to FCS.”

###

About Florida Cancer Specialists & Research Institute, LLC: (FLCancer.com)

Recognized by the American Society of Clinical Oncology (ASCO) with a national Clinical Trials Participation Award, Florida Cancer Specialists & Research Institute (FCS) offers patients access to more clinical trials than any private oncology practice in Florida. Over the past 5 years, the majority of new cancer drugs approved for use in the U.S. were studied in clinical trials with Florida Cancer Specialists participation.* Trained in such prestigious medical schools and research institutes as Duke, Stanford, Harvard, Emory, MD Anderson, and Memorial Sloan Kettering, our physicians are consistently ranked nationally as Top Doctors by U.S. News & World Report.

Florida Cancer Specialists has built a national reputation for excellence that is reflected in exceptional and compassionate patient care, driven by innovative clinical research, cutting-edge technologies, and advanced treatments, including targeted therapies, genomic-based treatment, and immunotherapy. Our values are embodied by our outstanding team of highly trained and dedicated physicians, clinicians, and staff.

*Prior to approval

Attachment



Michelle Robey
Florida Cancer Specialists
(813) 767-9398
[email protected]

Maryalice Keller
Florida Cancer Specialists
(585) 314-0172
[email protected]

Study: 2020 Local Ambient Air Pollution Concentrations Fell Sharply as Vehicle Traffic Shrank & Clairton Plant Operations Held Steady

Study: 2020 Local Ambient Air Pollution Concentrations Fell Sharply as Vehicle Traffic Shrank & Clairton Plant Operations Held Steady

PITTSBURGH–(BUSINESS WIRE)–
A study analyzing area traffic and ambient air quality data from an air quality monitoring station near U. S. Steel’s Mon Valley Works found that there was a 40% decrease in particulate matter (PM2.5) ambient air concentrations when comparingreadings from before and after the COVID-19 stay-at-home order in Spring 2020.

In the study, environmental consulting firm Trinity Consultants verified U. S. Steel’s finding that included an analysis of data collected from the Liberty Monitor, along with Pennsylvania Department of Transportation (PennDOT) traffic data taken from within a 40-mile radius of that site. Over the period reviewed, there was no change in production at the Clairton Plant, while the number of total vehicles on southwestern Pennsylvania roadways in the area examined fell by 50%.

The data review opportunity afforded by these unique circumstances, suggests a direct, significant correlation between the amount of vehicle traffic and Liberty Monitor PM2.5 concentrations. Both U. S. Steel and Trinity intend to further examine these findings and share them with the appropriate state and local authorities, including the Allegheny County Health Department. These findings are consistent with several other reports of substantial improvements in PM 2.5 concentrations in other cities during similar reductions in vehicle traffic as a consequence of COVID-19 shelter in place orders.

“Trinity confirmed that there was a significant correlation between vehicle traffic volumes and monitored PM2.5 concentrations at Liberty around the time of the COVID-19 stay-at-home orders. Further evaluation of this dataset, as well as traffic and monitor concentrations from other timeframes, could prove useful to more fully understand PM2.5 contributions,” said Ian Donaldson, managing consultant, Trinity Consultants.

“These findings shed light on the impact that mobile sources, such as vehicle emissions have on our community, including during weather conditions such as inversions, and indicate the importance of multifaceted strategies to address the impact of inversions. We look forward to exploring this further and support and encourage similar efforts by other members of our community,” said Brett Tunno, DrPH, environmental engineer, U. S. Steel.

U. S. Steel is targeting a 20% reduction in greenhouse gas emission (GHG) intensity by 2030, using 2018 as the baseline year for measurement. The company views its ‘Best of Both’ strategy as a companywide investment in sustainability, by incorporating electric arc furnace (EAF) steelmaking to reduce GHG emissions and improve the scrap recycling rate within U. S. Steel.

Founded in 1901, the United States Steel Corporation is a Fortune 250 company and leading integrated steel producer. With extensive iron ore production and an annual raw steelmaking capability of 23.2 million net tons, U. S. Steel produces high value-added steel products for the automotive, infrastructure, appliance, container, and energy industries. The company’s “Best of Both” integrated and mini-mill technology strategy is advancing a more secure, sustainable future for U. S. Steel and its stakeholders. With renewed emphasis on innovation and customer focus, the company produces cutting-edge products such as U. S. Steel’s proprietary XG3™ advanced high-strength steel. U. S. Steel is headquartered in Pittsburgh, Pennsylvania, with world-class operations across the United States and in Central Europe. For more information, please visit www.ussteel.com.

Amanda Malkowski

External Lead

Corporate Communications

T – (412) 433-2512

E – [email protected]

KEYWORDS: United States North America Pennsylvania

INDUSTRY KEYWORDS: Steel Manufacturing

MEDIA:

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Beacon Roofing Supply Announces the Departure of Chief Operating Officer C. Eric Swank

Beacon Roofing Supply Announces the Departure of Chief Operating Officer C. Eric Swank

HERNDON, Va.–(BUSINESS WIRE)–Beacon (Nasdaq: BECN) (the “Company”) announced today that Chief Operating Officer C. Eric Swank will be leaving the Company at the end of February. During his 16-year career at Beacon, Eric served in senior executive roles of increasing importance and ultimately led the Company’s $6 billion Exterior Products business for the last two years. His tenure and service with the Company have been marked by many significant accomplishments that helped build Beacon from a $600 million organization into a $7 billion Fortune 500 company.

“Eric’s dedication to Beacon, its employees and customers in each of his roles has been critical to the Company’s success over the past 16 years. He helped create a culture of operational excellence throughout the Company that has driven shareholder value while building great teams who embody his passion for our customers,” said Julian Francis, Beacon’s President and Chief Executive Officer. “I wish Eric all the very best in his future endeavors, and I know he will bring great skill and determination to any pursuit.”

“I could not be more appreciative to have had the opportunity to be part of such a great organization and work with such fine people, both internally and externally,” said Mr. Swank. “Leading and being part of Beacon’s growth from a large regional player to the nation’s largest publicly traded roofing distributor has been incredibly rewarding. Along the way, the careers and lives I have been able to touch and be part of will forever be some of my fondest memories. Beacon is made up of individuals who wake up every day with a desire to help our customers build a better future for themselves and the communities they serve. I look forward to watching that continue for many years to come.”

About Beacon

Founded in 1928, Beacon is a Fortune 500, publicly traded distributor of roofing materials and complementary building products in North America, operating over 500 branches throughout all 50 states in the U.S. and 6 provinces in Canada. Beacon serves an extensive base of over 100,000 customers, utilizing its vast branch network and diverse service offerings to provide high-quality products and support throughout the entire business lifecycle. Beacon offers its own private label brand, TRI-BUILT, and has a proprietary digital account management suite, Beacon PRO+, which allows customers to manage their businesses online. Beacon’s stock is traded on the Nasdaq Global Select Market under the ticker symbol BECN. To learn more about Beacon, please visit www.becn.com.

INVESTOR CONTACT

Brent Rakers

Director, Investor Relations

[email protected]

901-232-2737

MEDIA CONTACT

Jennifer Lewis

VP, Communications and Corporate Social Responsibility

[email protected]

571-752-1048

KEYWORDS: Virginia United States North America

INDUSTRY KEYWORDS: Building Systems Architecture Residential Building & Real Estate Commercial Building & Real Estate Construction & Property

MEDIA:

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Incyte and MorphoSys Announce Acceptance by Health Canada of the New Drug Submission for Tafasitamab

Canada NewsWire

MONTREAL and PLANEGG/MUNICH, Germany, Jan. 12, 2021 /CNW/ – Incyte (NASDAQ: INCY) and MorphoSys AG (FSE: MOR; Prime Standard Segment; MDAX & TecDAX; NASDAQ: MOR) today announced that Health Canada has accepted the New Drug Submission (NDS) for tafasitamab, an anti-CD19 antibody. The application seeks approval of tafasitamab in combination with lenalidomide, followed by tafasitamab monotherapy, for the treatment of adult patients with relapsed or refractory diffuse large B-cell lymphoma (DLBCL), including DLBCL arising from low grade lymphoma, who are not eligible for, or refuse, autologous stem cell transplant (ASCT).

“With the acceptance of the NDS by Health Canada, review of the data can begin, an important step on the path to making tafasitamab available in Canada for use in combination with lenalidomide in eligible patients with relapsed or refractory DLBCL,” said Josée Brisebois, Ph.D., Head of Medical Affairs, Incyte Biosciences Canada. “We intend to work closely with Health Canada as we seek to bring this innovative targeted therapeutic option to the clinical community and to appropriate patients for whom few treatment options exist.”

“This important milestone moves tafasitamab in combination with lenalidomide into the regulatory review process in Canada, with the potential to significantly advance patient care in the treatment of relapsed or refractory DLBCL,” said Nuwan Kurukulasuriya, Ph.D., Senior Vice President Global Medical Affairs, MorphoSys.

The NDS, submitted by Incyte, is based on data from the L-MIND study evaluating tafasitamab in combination with lenalidomide as a treatment for patients with relapsed or refractory DLBCL not eligible for autologous stem cell transplant, and is supported by the RE-MIND study, an observational retrospective study in relapsed or refractory DLBCL. 

Incyte has exclusive commercialization rights for tafasitamab outside of the United States and, if approved, Incyte will hold the marketing authorization for tafasitamab in Canada. This NDS marks the second marketing application that Incyte Biosciences Canada has made to Health Canada since establishing operations in Canada in April 2020.

About Diffuse Large B-cell Lymphoma (DLBCL)
DLBCL is the most common type of non-Hodgkin lymphoma in adults worldwide1, characterized by rapidly growing masses of malignant B-cells in the lymph nodes, spleen, liver, bone marrow or other organs. It is an aggressive disease with about 40% of patients not responding to initial therapy or relapsing thereafter2,  leading to a high medical need for new, effective therapies3, especially for patients who are not eligible for an autologous stem cell transplant in this setting.

About L-MIND
The L-MIND trial is a single arm, open-label, multicentre Phase 2 study (NCT02399085) investigating the combination of tafasitamab and lenalidomide in patients with relapsed or refractory diffuse large B-cell lymphoma (DLBCL) who have had at least one, but no more than three prior lines of therapy, including an anti-CD20 targeting therapy (e.g. rituximab), who are not eligible for high-dose chemotherapy or refuse subsequent autologous stem cell transplant The study’s primary endpoint is Overall Response Rate (ORR). Secondary outcome measures include Duration of Response (DoR), Progression-Free Survival (PFS) and Overall Survival (OS). In May 2019, the study reached its primary completion.

For more information about L-MIND, visit https://clinicaltrials.gov/ct2/show/NCT02399085

About RE-MIND
RE-MIND, an observational retrospective study (NCT04150328), was designed to isolate the contribution of tafasitamab in combination with lenalidomide and to prove the combinatorial effect. The study compares real-world response data of patients with relapsed or refractory diffuse large B-cell lymphoma (DLBCL) who received lenalidomide monotherapy with the efficacy outcomes of the tafasitamab-lenalidomide combination, as investigated in MorphoSys’ L-MIND trial. RE-MIND collected the efficacy data from 490 relapsed or refractory DLBCL patients in the U.S. and EU. Qualification criteria for matching patients of both studies were pre-specified. As a result, 76 eligible RE-MIND patients were identified and matched 1:1 to 76 of 80 L-MIND patients based on important baseline characteristics. Objective Response Rates (ORR) were validated based on this subset of 76 patients in RE-MIND and L-MIND, respectively. The primary endpoint of RE-MIND was met and shows a statistically significant superior best ORR of the tafasitamab-lenalidomide combination compared to lenalidomide monotherapy.

For more information about RE-MIND, visit https://clinicaltrials.gov/ct2/show/NCT04150328.

About Tafasitamab

Tafasitamab is a humanized Fc-modified cytolytic CD19 targeting monoclonal antibody. In 2010, MorphoSys licensed exclusive worldwide rights to develop and commercialize tafasitamab from Xencor, Inc. Tafasitamab incorporates an XmAb® engineered Fc domain, which mediates B-cell lysis through apoptosis and immune effector mechanism including Antibody-Dependent Cell-Mediated Cytotoxicity (ADCC) and Antibody-Dependent Cellular Phagocytosis (ADCP).

In January 2020, MorphoSys and Incyte entered into a collaboration and licensing agreement to further develop and commercialize tafasitamab globally. Following approval by the U.S. Food and Drug Administration in July 2020, tafasitamab is being co-commercialized by MorphoSys and Incyte in the United States. Incyte has exclusive commercialization rights outside the United States.

Tafasitamab is being clinically investigated as a therapeutic option in B-cell malignancies in a number of ongoing combination trials.

XmAb® is a registered trademark of Xencor, Inc.

The safety and efficacy of tafasitamab is under review and the market authorization in Canada has not yet been obtained.

About Incyte
Incyte is a Wilmington, Delaware-based, global biopharmaceutical company focused on finding solutions for serious unmet medical needs through the discovery, development and commercialization of proprietary therapeutics. For additional information on Incyte, please visit Incyte.com and follow @Incyte.

About MorphoSys
MorphoSys (FSE & NASDAQ: MOR) is a commercial-stage biopharmaceutical company dedicated to the discovery, development and commercialization of innovative therapies for patients suffering from cancer and autoimmune diseases. Based on its leading expertise in antibody, protein and peptide technologies, MorphoSys, together with its partners, has developed and contributed to the development of more than 100 product candidates, of which 27 are currently in clinical development. In 2017, Tremfya®, developed by Janssen Research & Development, LLC and marketed by Janssen Biotech, Inc., for the treatment of plaque psoriasis, became the first drug based on MorphoSys’ antibody technology to receive regulatory approval. In July 2020, the U.S. Food and Drug Administration (FDA) granted accelerated approval of MorphoSys’ proprietary product Monjuvi® (tafasitamab-cxix) in combination with lenalidomide in patients with a certain type of lymphoma.

Headquartered near Munich, Germany, the MorphoSys group, including the fully owned U.S. subsidiary MorphoSys US Inc., has more than 600 employees. More information at www.morphosys.com or www.morphosys-us.com.

Monjuvi® is a registered trademark of MorphoSys AG.

Tremfya® is a registered trademark of Janssen Biotech, Inc.

Incyte Forward-looking Statements
Except for the historical information set forth herein, the matters set forth in this press release, including statements regarding whether or when tafasitamab might be approved in Canada for the treatment of, and whether or when tafasitamab might provide a successful treatment option for, in combination with lenalidomide, certain patients with relapsed or refractory diffuse large B-cell lymphoma (DLBCL), and the L-MIND and RE-MIND clinical trial programs. These forward-looking statements are based on the Company’s current expectations and subject to risks and uncertainties that may cause actual results to differ materially, including unanticipated developments in and risks related to: unanticipated delays; further research and development and the results of clinical trials possibly being unsuccessful or insufficient to meet applicable regulatory standards or warrant continued development; the ability to enroll sufficient numbers of subjects in clinical trials; determinations made by Canadian regulatory authorities or other regulatory authorities, including the U.S. FDA; the Company’s dependence on its relationships with its collaboration partners; the efficacy or safety of the Company’s products and the products of the Company’s collaboration partners; the acceptance of the Company’s products and the products of the Company’s collaboration partners in the marketplace; market competition; sales, marketing, manufacturing and distribution requirements; greater than expected expenses; expenses relating to litigation or strategic activities; and other risks detailed from time to time in the Company’s reports filed with the Securities and Exchange Commission, including its Form 10-Q for the quarter ending September 30, 2020. The Company disclaims any intent or obligation to update these forward-looking statements.

MorphoSys Forward-looking Statements
This communication contains certain forward-looking statements concerning the MorphoSys group of companies, including the expectations regarding Monjuvi’s ability to treat patients with relapsed or refractory diffuse large B-cell lymphoma, the further clinical development of tafasitamab-cxix, including ongoing confirmatory trials, additional interactions with regulatory authorities and expectations regarding future regulatory filings and possible additional approvals for tafasitamab-cxix as well as the commercial performance of Monjuvi. The words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “would,” “could,” “potential,” “possible,” “hope” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. The forward-looking statements contained herein represent the judgment of MorphoSys as of the date of this release and involve known and unknown risks and uncertainties, which might cause the actual results, financial condition and liquidity, performance or achievements of MorphoSys, or industry results, to be materially different from any historic or future results, financial conditions and liquidity, performance or achievements expressed or implied by such forward-looking statements. In addition, even if MorphoSys’ results, performance, financial condition and liquidity, and the development of the industry in which it operates are consistent with such forward-looking statements, they may not be predictive of results or developments in future periods. Among the factors that may result in differences are MorphoSys’ expectations regarding risks and uncertainties related to the impact of the COVID-19 pandemic to MorphoSys’ business, operations, strategy, goals and anticipated milestones, including its ongoing and planned research activities, ability to conduct ongoing and planned clinical trials, clinical supply of current or future drug candidates, commercial supply of current or future approved products, and launching, marketing and selling current or future approved products, the global collaboration and license agreement for tafasitamab, the further clinical development of tafasitamab, including ongoing confirmatory trials, and MorphoSys’ ability to obtain and maintain requisite regulatory approvals and to enroll patients in its planned clinical trials, additional interactions with regulatory authorities and expectations regarding future regulatory filings and possible additional approvals for tafasitamab-cxix as well as the commercial performance of Monjuvi, MorphoSys’ reliance on collaborations with third parties, estimating the commercial potential of its development programs and other risks indicated in the risk factors included in MorphoSys’ Annual Report on Form 20-F and other filings with the U.S. Securities and Exchange Commission. Given these uncertainties, the reader is advised not to place any undue reliance on such forward-looking statements. These forward-looking statements speak only as of the date of publication of this document. MorphoSys expressly disclaims any obligation to update any such forward-looking statements in this document to reflect any change in its expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements, unless specifically required by law or regulation.


1 Sarkozy C, et al. Management of relapsed/refractory DLBCL. Best Practice Research & Clinical Haematology. 2018 31:209–16. doi.org/10.1016/j.beha.2018.07.014.


2 Skrabek P, et al. Emerging therapies for the treatment of relapsed or refractory diffuse large B cell lymphoma. Current Oncology. 2019 26(4): 253–265. doi.org/10.3747/co.26.5421.


3 Skrabek P, et al. Emerging therapies for the treatment of relapsed or refractory diffuse large B cell lymphoma. Current Oncology. 2019 26(4): 253–265. doi.org/10.3747/co.26.5421.

 

SOURCE Incyte Biosciences Canada

Chart Industries and Matrix Service Company Execute Commercial Hydrogen Memorandum of Understanding

ATLANTA, Jan. 12, 2021 (GLOBE NEWSWIRE) — Chart Industries, Inc. (“Chart”) (Nasdaq: GTLS), a leading diversified global manufacturer of highly engineered equipment for the industrial gas and clean energy industries today signed a Memorandum of Understanding (“MOU”) with Matrix Service Company (NASDAQ: MTRX) for the development of standardized hydrogen solutions in North America, including hydrogen liquefaction plants, marine bunkering, fueling stations, plant expansions, storage expansion, spaceship fueling and other hydrogen related facilities. Matrix Service Company (“Matrix”) is a leading contractor to the energy and industrial markets across North America. Through its subsidiaries, Matrix provides engineering, procurement, fabrication, and construction (“EPFC”), as well as maintenance and products to the energy and industrial markets, with specific experience engineering, procuring and constructing cryogenic and pressure storage vessels, terminals and related balance of plant facilities which complements Chart’s extensive hydrogen liquefaction and equipment offering.

This MOU builds upon the hydrogen strategy of both companies to continue to expand commercial arrangements, relationships and geographic diversity thereby utilizing Chart’s expansive hydrogen equipment and liquefaction offerings by the producers and end users of hydrogen. Matrix has a 50-plus year history in providing cryogenic storage and terminal expertise to multiple industries. Chart has provided hydrogen-specific equipment to industry for over 50 years, including a very rapid increase in order activity in 2020. Chart’s hydrogen equipment orders for 2020 were over $38 million, with 60% of the orders received in the fourth quarter of 2020 which included a first of a kind order for custom vacuum insulated pipe for multiple liquid hydrogen storage systems.  These hydrogen orders contributed to Chart’s full year 2020 specialty market orders of $283.6 million, a 16.2% increase over specialty market orders in the full year of 2019. With 164 customers working with Chart to serve their hydrogen equipment needs (up from 30 at the beginning of 2020), this collaboration with Matrix will be another way for our customers to achieve their small-scale hydrogen requirements.

Chart and Matrix are working to provide more cost competitive and scalable ways to increase hydrogen as a key part of the clean energy transition, drawing on their respective expertise in the technology and EPFC in cryogenic storage tanks and terminals. This MOU furthers that effort by having a standardized, price competitive offering for the turnkey design, equipment supply, and construction that would have been handled by subcontractors in North America.

“The combination of Chart equipment and process with the expertise Matrix brings in process integration, design, fabrication, construction and installation to create a unique and cost-effective solution for the North American hydrogen market, in particular for customers wanting a standardized solution,” stated Jill Evanko, Chart’s CEO and President. “Matrix also brings access to larger scale commercial opportunities for Chart equipment in North America.”

“After years of working on LNG and other cryogenic projects with Chart, expanding our relationship to support the evolution and ongoing work we do in hydrogen is a natural next step as energy companies look to Matrix for infrastructure solutions that support their strategic transition to clean energy products and services,” said John R. Hewitt, Matrix CEO and President. “We look forward to continuing to drive customer value and collaborating with Chart to improving the cost competitiveness of hydrogen as a clean energy fuel choice.”

When executing under the MOU, Chart and Matrix will provide design, equipment and installation. Chart’s included standard hydrogen offering in the MOU ranges from liquefaction process and equipment to storage vessels to truck loading to vacuum insulated piping, and plant controls while Matrix provides process integration and facility design, as well as all the installation including storage spheres, site civil work, mechanical equipment, piping systems, electrical power, control, substation and distribution.

An exhibit accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d9f2cc91-2ad5-44a6-91c4-bb6415e5e257

About Chart Industries, Inc.

Chart Industries, Inc. is a leading independent global manufacturer of highly engineered equipment servicing multiple applications in the Energy and Industrial Gas markets.  Our unique product portfolio is used in every phase of the liquid gas supply chain, including upfront engineering, service and repair.  Being at the forefront of the clean energy transition, Chart is a leading provider of technology, equipment and services related to liquefied natural gas, hydrogen, biogas and CO2 Capture amongst other applications. We are committed to excellence in environmental, social and corporate governance (ESG) issues both for our company as well as our customers.  With over 25 global locations from the United States to Asia, Australia, India, Europe and South America, we maintain accountability and transparency to our team members, suppliers, customers and communities.  To learn more, visit www.chartindustries.com.

About Matrix Service Company

Founded in 1984, Matrix Service Company (Nasdaq: MTRX) is parent to a family of companies that includes Matrix PDM Engineering, Matrix Service Inc., Matrix NAC, and Matrix Applied Technologies.  Our companies design, build and maintain infrastructure critical to North America’s energy and industrial markets.  Matrix Service Company is headquartered in Tulsa, Oklahoma with offices located throughout the United States and Canada, as well as Sydney, Australia and Seoul, South Korea. The Company reports its financial results based on three reportable segments: Utility and Power Infrastructure, Process and Industrial Facilities, and Storage and Terminal Solutions. 

With a culture driven by its core values of safety, integrity, stewardship, positive relationships, community involvement and delivering the best, Matrix is consistently ranked as a Top 100 Contractor by Engineering-News Record and recognized as a Great Place to Work®. To learn more about Matrix Service Company, visit matrixservicecompany.com

FORWARD-LOOKING STATEMENTS

Certain statements made in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  Forward-looking statements include statements concerning the Company’s business plans, including statements regarding pending acquisitions, completed acquisitions, cost synergies and efficiency savings, objectives, future orders, revenues, margins, earnings or performance, liquidity and cash flow, capital expenditures, business trends, governmental initiatives, including executive orders and other information that is not historical in nature.  Forward-looking statements may be identified by terminology such as “may,” “will,” “should,” “could,” “expects,” “anticipates,” “believes,” “projects,” “forecasts,” “outlook,” “guidance,” “continue,” “target,” or the negative of such terms or comparable terminology.

Forward-looking statements contained in this press release or in other statements made by the Company are made based on management’s expectations and beliefs concerning future events impacting the Company and are subject to uncertainties and factors relating to the Company’s operations and business environment, all of which are difficult to predict and many of which are beyond the Company’s control, that could cause the Company’s actual results to differ materially from those matters expressed or implied by forward-looking statements.  Factors that could cause the Company’s actual results to differ materially from those described in the forward-looking statements include: the Company’s ability to successfully integrate recent acquisitions and achieve the anticipated revenue, earnings, accretion and other benefits from these acquisitions; risks relating to the recent outbreak and continued uncertainty associated with the coronavirus (COVID-19) and the other factors discussed in Item 1A (Risk Factors) in the Company’s most recent Annual Report on Form 10-K filed with the SEC and Quarterly Reports on Form 10-Q, which should be reviewed carefully.  The Company undertakes no obligation to update or revise any forward-looking statement.

For more information, click here:


http://ir.chartindustries.com/

Investor Relations Contact – Chart Industries:
     
Wade Suki, CFA    
Director of Investor Relations    
832-524-7489    
[email protected]    
 
Investor Relations Contacts – Matrix Service Company:
 
Kevin S. Cavanah    Kellie Smythe
Matrix Service Company   Matrix Service Company
Vice President and CFO   Senior Director, Investor Relations
T: 918-838-8822   T: 918-359-8267
Email: [email protected]   Email: [email protected]