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Olin Announces Chlor Alkali Capacity Reduction

PR Newswire

CLAYTON, Mo., March 16, 2021 /PRNewswire/ — Olin Corporation (NYSE: OLN) announced today that it plans to permanently shut down approximately 50% of its diaphragm-grade chlor alkali capacity (approximately 200,000 tons) at its McIntosh, Alabama facility.  The closure is expected to be completed by March 31, 2021.  This action is expected to be cash flow accretive.  Olin’s first quarter 2021 results are forecast to include approximately $5 million of restructuring charges associated with this plan.

“This is yet another step in Olin’s efforts to right-size our asset base and achieve reinvestment economics across our complete Electrochemical Unit portfolio,” remarked Scott Sutton, Olin President and Chief Executive Officer. “Shareholders can expect Olin to continue to take high-capital, non-accretive assets off our balance sheet as existing contractual supply obligations end, focusing our Olin teammates and resources toward unleashing Olin’s true value potential.”

COMPANY DESCRIPTION

Olin Corporation is a leading vertically-integrated global manufacturer and distributor of chemical products and a leading U.S. manufacturer of ammunition.  The chemical products produced include chlorine and caustic soda, vinyls, epoxies, chlorinated organics, bleach, and hydrochloric acid.  Winchester’s principal manufacturing facilities produce and distribute sporting ammunition, law enforcement ammunition, reloading components, small caliber military ammunition and components, and industrial cartridges.

Visit www.olin.com for more information on Olin.

FORWARD-LOOKING STATEMENTS

This communication includes forward-looking statements.  These statements relate to analyses and other information that are based on management’s beliefs, certain assumptions made by management, forecasts of future results, and current expectations, estimates and projections about the markets and economy in which we and our various segments operate.  The statements contained in this communication that are not statements of historical fact may include forward-looking statements that involve a number of risks and uncertainties.

We have used the words “anticipate,” “intend,” “may,” “expect,” “believe,” “should,” “plan,” “outlook,” “project,” “estimate,” “forecast,” “optimistic,” and variations of such words and similar expressions in this communication to identify such forward-looking statements.  These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions, which are difficult to predict and many of which are beyond our control.  Therefore, actual outcomes and results may differ materially from those matters expressed or implied in such forward-looking statements.  We undertake no obligation to update publicly any forward-looking statements, whether as a result of future events, new information or otherwise.  The payment of cash dividends is subject to the discretion of our board of directors and will be determined in light of then-current conditions, including our earnings, our operations, our financial conditions, our capital requirements and other factors deemed relevant by our board of directors.  In the future, our board of directors may change our dividend policy, including the frequency or amount of any dividend, in light of then-existing conditions.

The risks, uncertainties and assumptions involved in our forward-looking statements, many of which are discussed in more detail in our filings with the SEC, including without limitation the “Risk Factors” section of our Annual Report on Form 10-K for the year ended December 31, 2020, include, but are not limited to, the following:


Business, Industry and Operational Risks

  • sensitivity to economic, business and market conditions in the United States and overseas, including economic instability or a downturn in the sectors served by us;
  • declines in average selling prices in the chlor alkali industry and the supply/demand balance for our products, including the impact of excess industry capacity or an imbalance in demand for our chlor alkali products;
  • unsuccessful implementation of our operating model, which prioritizes Electrochemical Unit (ECU) margins over sales volumes;
  • our reliance on a limited number of suppliers for specified feedstock and services and our reliance on third-party transportation;
  • failure to control costs or to achieve targeted cost reductions;
  • higher-than-expected raw material, energy, transportation, and/or logistics costs;
  • the occurrence of unexpected manufacturing interruptions and outages, including those occurring as a result of labor disruptions and production hazards;
  • the failure or an interruption of our information technology systems;
  • our substantial amount of indebtedness and significant debt service obligations;
  • the negative impact from the COVID-19 pandemic and the global response to the pandemic;
  • weak industry conditions affecting our ability to comply with the financial maintenance covenants in our senior secured credit facility;
  • the loss of a substantial customer for either chlorine or caustic soda could cause an imbalance in customer demand for these products;
  • failure to attract, retain and motivate key employees;
  • risks associated with our international sales and operations, including economic, political or regulatory changes;
  • the effects of any declines in global equity markets on asset values and any declines in interest rates or other significant assumptions used to value the liabilities in our pension plan;
  • adverse conditions in the credit and capital markets, limiting or preventing our ability to borrow or raise capital;
  • our long-range plan assumptions not being realized causing a non-cash impairment charge of long-lived assets;


Legal, Environmental and Regulatory Risks

  • new regulations or public policy changes regarding the transportation of hazardous chemicals and the security of chemical manufacturing facilities;
  • changes in, or failure to comply with, legislation or government regulations or policies, including changes within the international markets in which we operate;
  • unexpected litigation outcomes;
  • costs and other expenditures in excess of those projected for environmental investigation and remediation or other legal proceedings; and
  • various risks associated with our Lake City U.S. Army Ammunition Plant contract, including performance and compliance with governmental contract provisions.

All of our forward-looking statements should be considered in light of these factors.  In addition, other risks and uncertainties not presently known to us or that we consider immaterial could affect the accuracy of our forward-looking statements.

2021-08

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/olin-announces-chlor-alkali-capacity-reduction-301247782.html

SOURCE Olin Corporation

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Conduent Announces COVID-19 Vaccine Response Solutions for Public Health Agencies

Multi-pronged offering helps agencies solve critical challenges with vaccine rollout, efficiency and reach through public awareness, eligibility support, appointments and post-immunization follow-up

Public health agencies can leverage robust community outreach and constituent support capabilities to assist in COVID-19 vaccine management

FLORHAM PARK, N.J., March 16, 2021 (GLOBE NEWSWIRE) — Conduent Incorporated (Nasdaq: CNDT), a business process services and solutions company, today introduced a new set of offerings designed for U.S. public health agencies to overcome a range of challenges in administering COVID-19 vaccines effectively and efficiently. Now underway with more than 109 million doses administered to date, the national COVID-19 vaccine rollout is among the largest vaccine programs administered in the history of public health, affecting more than 300 million Americans.

In addition to the operational challenges of a national immunization program, state and local health officials have faced an influx of questions from community members about the vaccine itself – from concerns over how the vaccine is administered to potential side effects and how it will affect them long term. To address these concerns, public health agencies need robust community outreach and constituent support programs.

“Agencies across the country are navigating the very complex administration of the COVID-19 vaccine,” said Cliff Skelton, President and CEO at Conduent. “The enormous scale of this initiative requires a rapidly deployed and flexible set of solutions to provide inbound and outbound vaccine information to recipients as efficiently as possible. With our strong eligibility assessment and determination experience, as well as customer contact services and outreach expertise, we’re proud to offer these services to agencies at such a critical time.”

Core Features of Vaccine Response Solutions:

To help agencies manage a variety of important programs and accelerate the immunization process, Conduent’s offering has five key solutions:

  1. Managing helplines and customer support services to centralize information about the vaccine and address people’s concerns and reservations
  2. Educating and engaging communities about COVID-19 vaccine availability and resources, including outreach to individuals lacking mobility, phone or internet access
  3. Assisting with screening individuals for clinical eligibility for COVID-19 vaccines, leveraging existing case management tools
  4. Setting vaccine appointments and providing reminders about designated dates and locations, and then alerting individuals about their second dose
  5. Offering post-vaccination follow-ups to track patient wellbeing after vaccination, and to measure and mitigate adverse reactions

“These offerings are a natural extension of our government healthcare and pharmacy benefit management solutions,” Skelton continued. “With more than 50 years of government health and social services support experience, our team stands ready to support agencies in their public health response to benefit citizens.”

Depending upon client requirements, Conduent estimates these solutions can typically be implemented in as few as two to four weeks. More information about Conduent’s Vaccine Response Solutions can be found here.

Conduent supports more than 41 million consumers annually with various government health programs and other eligibility services. These include government health care programs in 24 states, plus Washington, D.C., and Puerto Rico. In addition, Conduent provides public health agencies with its Maven® disease surveillance and outbreak management software, which is used to track and report cases of COVID-19 and other diseases.

About Conduent

Conduent delivers mission-critical services and solutions on behalf of businesses and governments – creating exceptional outcomes for its clients and the millions of people who count on them. Through process, technology and our diverse and dedicated associates, Conduent solutions and services automate workflows, improve efficiencies, reduce costs and enable revenue growth. It’s why most Fortune 100 companies and over 500 government entities depend on Conduent every day to manage their essential interactions and move their operations forward.

Conduent’s differentiated services and solutions improve experiences for millions of people every day, including three out of every four U.S. insured patients, 10 million employees who use its HR Services, and nearly 18 million benefits recipients. Conduent’s solutions deliver exceptional outcomes for its clients including $16 billion in savings from medical bill review of workers compensation claims, up to 40% efficiency increase in HR operations, up to 27% reduction in government benefits costs, up to 40% improvement in finance, accounting and procurement expense, and improved customer service interaction times by up to 20% with higher end-user satisfaction. Learn more at https://www.conduent.com.

Media
Contacts:

Neil Franz, Conduent, +1-301-820-4324, [email protected]

Investor
Relations
Contacts:

Alan Katz, Conduent, +1-973-526-7173, [email protected]
Rebecca Koar, Conduent, +1-862-308-7105, [email protected]

Note: To receive RSS news feeds, visit www.news.conduent.com. For open commentary, industry perspectives and views, visit http://twitter.com/Conduent, http://www.linkedin.com/company/conduent or http://www.facebook.com/Conduent.

Conduent is a trademark of Conduent Incorporated in the United States and/or other countries.



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CURE Pharmaceutical Launches Psychedelic Oral Film Program Targeting the Treatment of Mental Health Disorders

CURE Pharmaceutical Launches Psychedelic Oral Film Program Targeting the Treatment of Mental Health Disorders

OXNARD, Calif.–(BUSINESS WIRE)–
CURE Pharmaceutical Holding Corp. (“CURE” or the “Company”) (OTC: CURR), a vertically integrated drug delivery and product development company, announced today that it has launched a new initiative for the clinical development of psychedelic compounds such as psilocybin, LSD, and MDMA for the treatment of various mental health disorders.

Utilizing CURE’s patented oral film platform CUREfilm® for precision dosing, the company intends to optimize the absorption and metabolism of psychedelic actives targeting clinical efficacy of both macrodosing and microdosing treatment regimens. CURE will use its DEA Schedule 1 license and cGMP-certified and FDA-registered facility providing a United States footprint for anticipated commercialization.

“Our specialty pharmaceutical pipeline is robust, protected by our IP and differentiated relative to others developing psychedelics,” said Rob Davidson, CEO of CURE. “Through innovation and selective diversification, we are confident that these new psychedelic programs and our corresponding product development efforts will open many doors to research advancement and new patient solutions. These programs not only broaden our internal pipeline but are also reflective of CURE’s focus on treatments for critical disease states including central nervous system disorders, viral infections, and now the serious burden of mental health disorders as well.”

Ongoing research, which has been active for decades, continues to showcase a growing body of evidence in support of psychedelics as effective treatments for mental health disorders such as depression, PTSD, addiction disorders, obsessive compulsive disorder, and anxiety. For example, in 2017, the US Food and Drug Administration (FDA) recognized the potential benefits of MDMA by assigning a Breakthrough Therapy Designation to an MDMA-assisted therapy to treat PTSD. In 2019, The Johns Hopkins University launched the “Center for Psychedelic and Consciousness Research.”

“We are dedicated to applying our film technology to leading compounds in high-impact, unmet need areas. Advancing these psychedelic product development programs helps ensure our end-goal of targeting those patients who would have otherwise been left without an important treatment option. We plan to advance our programs in a strategic, thoughtful, and fiscally-responsible way,” said Jonathan Berlent, CURE Chief Business Officer.

A recent study published by Data Bridge Market Research states that the legal U.S. psychedelic drug market is projected to grow at 16.3% CAGR from 2020 to 2027 and is expected to reach approximately $6.8 billion by 2027, up from $2 billion in 2019.

About CURE Pharmaceutical Holding Corp.

CURE Pharmaceutical® is the pioneering developer of CUREform™, a patented drug delivery platform that offers a number of unique immediate- and controlled-release drug delivery vehicles designed to improve drug efficacy, safety, and patient experience for a wide range of active ingredients.

As a vertically integrated company, CURE’s 25,000 square foot, FDA-registered, NSF® and cGMP-certified manufacturing facility enables it to partner with pharmaceutical and wellness companies worldwide for private and white-labeled production. CURE has partnerships in the U.S., China, Mexico, Canada, Israel, and other markets in Europe.

Forward Looking Statement

Statements CURE makes in this press release may include statements which are not historical facts and are considered forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended (“Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (“Exchange Act”), which are usually identified by the use of words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “may,” “plans,” “projects,” “seeks,” “should,” “will,” and variations of such words or similar expressions. CURE intends these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act and Section 21E of the Exchange Act and is making this statement for purposes of complying with those safe harbor provisions. These forward-looking statements include, without limitation, the ability to successfully market the partnered products, the difficulty in predicting the timing or outcome of related research and development efforts, partnered product characteristics and indications, marketing approvals and launches of other products, the impact of pharmaceutical industry regulation, the impact of competitive products and pricing, the acceptance and demand of new pharmaceutical products, the impact of patents and other proprietary rights held by competitors and other third parties and the ability to obtain financing on favorable terms. The forward-looking statements in this press release reflect CURE’s judgment as of the date of this press release. CURE disclaims any intent or obligation to update these forward-looking statements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of our 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.

Licensing Contact:

Jonathan Berlent

Chief Business Officer

CURE Pharmaceutical

[email protected]

516.660.9148

Investment Contact:

[email protected]

Gary Zwetchkenbaum

Plum Tree Consulting LLC

[email protected]

516.455.7662

Media Contact:

Kathryn Brown

CMW Media

[email protected]

858.264.6600

KEYWORDS: United States North America California

INDUSTRY KEYWORDS: Biotechnology Pharmaceutical Health Mental Health

MEDIA:

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National CineMedia (NCM) and ATM.TV Unite to Connect With Movie Fans at HD Screens Atop FCTI ATMs Located in 7-Eleven® Stores

National CineMedia (NCM) and ATM.TV Unite to Connect With Movie Fans at HD Screens Atop FCTI ATMs Located in 7-Eleven® Stores

New DOOH Advertising Sales Relationship Will Also Bring NCM’s Noovie® Trivia and Movie Content to Over 8,500 ATM.TV HD Screens

CENTENNIAL, Colo. & LOS ANGELES–(BUSINESS WIRE)–
National CineMedia (NCM), the largest cinema advertising network in the U.S., and ATM.TV, a nationwide provider of Digital-Out-Of-Home (DOOH) HD advertising, have united in a new advertising sales relationship that will allow brands to connect with movie fans through HD toppers located on FCTI ATMs at 7-Eleven stores nationwide.

NCM’s new DOOH group, which was created to further unite brands with audiences beyond theaters in a variety of complementary venues, will sell ATM.TV HD out of home media inventory alongside NCM’s Noovie® entertainment content and trivia programming on over 8,500 ATM.TV HD 27” screens.

“Movie fans are movie fans, whether they’re out shopping or in a theater, and this relationship with ATM.TV allows us to help brands reach and engage with people at a critical moment when they’re in an active shopping mode,” said Steve Sapp, Senior Vice President, Digital Out-of-Home Sales with National CineMedia. “Like movie theaters, 7-Eleven stores are anchors in their neighborhoods – attracting a large, diverse, and valuable group of consumers on a daily basis. ATM.TV’s network ubiquity and ability to target by daypart in a large screen format gives advertisers a lot of options for effective campaign targeting.”

“Convenience stores are essential businesses at the heart of the local community, especially at this time when many people are turning to them for quick shopping trips to avoid crowded supermarkets and big-box stores during the pandemic,” said ATM.TV CEO Daniel Aharonoff. “We’re creating invaluable opportunities for advertisers to reach people while they shop with omni-channel targeting.”

About National CineMedia (NCM)

National CineMedia (NCM) is America’s Movie Network. As the largest cinema advertising network in the U.S., we unite brands with the power of movies and engage movie fans anytime and anywhere. NCM’s Noovie pre-show is presented exclusively in 53 leading national and regional theater circuits including AMC Entertainment Inc. (NYSE:AMC), Cinemark Holdings, Inc. (NYSE:CNK) and Regal Entertainment Group (a subsidiary of Cineworld Group PLC, LON: CINE). NCM’s cinema advertising network offers broad reach and unparalleled audience engagement with over 20,400 screens in over 1,650 theaters in 190 Designated Market Areas® (all of the top 50). NCM Digital goes beyond the big screen, extending in-theater campaigns into online and mobile marketing programs to reach entertainment audiences. National CineMedia, Inc. (NASDAQ:NCMI) owns a 48.0% interest in, and is the managing member of, National CineMedia, LLC. For more information, visit www.ncm.com and www.noovie.com.

About American Television Media Group, Inc. (ATM.TV)

ATM.TV is a pioneering Digital-Out-Of-Home company specializing in software and hardware for DOOH advertising. To find out more about ATM.TV, visit https://atm.tv.

FORWARD-LOOKING STATEMENTS:

This press release contains various forward-looking statements, within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, that reflect management’s current expectations or beliefs regarding, among other things, the ATM.TV relationship and expected consumer interactions. Forward-looking statements are subject to a number of important factors, risks, uncertainties and assumptions that could cause actual results to differ materially from those described in any forward-looking statements. Investors are cautioned that reliance on these forward-looking statements involves risks and uncertainties.

DMA is a registered trademark of The Nielsen Company (US), LLC.

National CineMedia (NCM)

Amy Jane Finnerty

212-931-8117

[email protected]

ATM.TV

Rebecca Hellman

[email protected]

KEYWORDS: United States North America California Colorado

INDUSTRY KEYWORDS: Marketing Advertising Entertainment Communications Technology General Entertainment Audio/Video

MEDIA:

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Chart Industries Receives $47 million LNG Liquefaction Order from New Fortress Energy

ATLANTA, March 16, 2021 (GLOBE NEWSWIRE) — Chart Industries, Inc. (“Chart”) (NYSE: GTLS), a leading diversified global manufacturer of highly engineered equipment for the industrial gas and energy industries, has received Notice to Proceed on the engineering work for New Fortress Energy’s (“NFE”) (NASDAQ: NFE) mid-scale 1.4 MTPA LNG offshore liquefaction project.

The project is expected to be completed by the end of 2022. Chart’s content totals $47 million and includes our patented ISPMR® process technology, brazed aluminum heat exchangers, cold boxes, heavy hydrocarbon removal system and air-cooled heat exchangers, in addition to other pertinent equipment and engineering.

“We are excited to partner with New Fortress Energy on this unique, first-of-a-kind offshore liquefaction system,” stated Jill Evanko, Chart’s President and CEO. “NFE continues to be an industry leader with a strategic approach to the clean energy transition and the entire value chain.”

Forward Looking Statements

Certain statements made in this news 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, products and technology, future orders and customer requirements, business trends, 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,” or the negative of such terms or comparable terminology.

Forward-looking statements contained in this presentation 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 those found in Item 1A (Risk Factors) in the Company’s most recent Annual Report on Form 10-K filed with the SEC, which should be reviewed carefully. The Company undertakes no obligation to update or revise any forward-looking statement.

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.

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]



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Shanghai Electric Signs Agreement to Launch PEM Hydrogen Production Technology R&D Center, Empowering Green Hydrogen Development in China

PR Newswire

SHANGHAI, March 16, 2021 /PRNewswire/ — Shanghai Electric (the “Company”) (SEHK: 02727, SSE: 601727), the world’s leading manufacturer and supplier of electric power generation equipment, industrial equipment, and integration services, joined hands with the Dalian Institute of Chemical Physics of the Chinese Academy of Sciences (the “Dalian Institute”) to inaugurate the Proton Exchange Membrane (PEM) Hydrogen Production Technology R&D Center on March 4. The two parties signed a project cooperation agreement on Megawatt Modular and High-Efficiency PEM Hydrogen Production Equipment and System Development, marking an important step forward for Shanghai Electric in the field of hydrogen energy.

As one of China’s largest energy equipment manufacturers, Shanghai Electric is at the forefront in the development of green hydrogen as part of China’s clean energy drive. During this year’s Two Sessions, the 14th Five-Year Plan was actively discussed, in which green hydrogen features prominently. With strong government support and widespread industry interest, 2021 is emerging as Year Zero for the hydrogen energy industry.

Currently, Shanghai Electric and the Dalian Institute have reached a preliminary agreement on the industrial development path for new energy power generation and electrolyzed water hydrogen production. As part of the cooperation, both will also continue to enhance the transformational potential of PEM electrolyzed water hydrogen production, accelerate the development of competitive PEM electrolyzed hydrogen products, and promote industrial applications and scenarios. Moreover, they will continue to carry out in-depth cooperation across the entire hydrogen energy industry chain to accelerate overall industrialization.

Hydrogen energy boasts the biggest potential of all the current forms of clean energy, and the key to its development lies in its production. At present, hydrogen production primarily stems from fossil fuels, industrial by-product hydrogen recovery and purification, and production by water electrolysis. These processes result in significant carbon emissions. The rapid development of PEM water electrolysis equipment worldwide in recent years has enabled current technologies to achieve zero carbon emissions, effectively realizing green, clean hydrogen. This breakthrough will be instrumental in helping China achieve its carbon peak and carbon-neutrality goals.

The market potential for hydrogen production from electrolyzed water is therefore massive. Forecasts indicate that, by 2050, hydrogen energy will account for approximately 10% of China’s energy market, with demand reaching 60 million tons and annual output value exceeding RMB 10 trillion. The Hydrogen: Tracking Energy Integration report released by the International Energy Agency in June 2020 notes that the number of global electrolysis hydrogen production projects and installed capacity have both increased significantly, with output skyrocketing from 1 MW in 2010 to more than 25 MW in 2019. Much of the excitement comes from hydrogen’s potential to join the ranks of natural gas as an energy resource that plays a pivotal role in international trade, with the possibility of even replacing it one day. In PwC’s 2020 The Dawn of Green Hydrogen report, the advisory predicts that experimental hydrogen will reach 530 million tons by mid-century.

Shanghai Electric set its focus on hydrogen energy years ago, given its major potential for growth as one of the new energy technologies of the future and, in particular, its ability to power new energy vehicles. In 2016, the Central Research Institute of Shanghai Electric began to invest in R&D for key fuel cell systems and stack technologies. In 2020, Shanghai Electric’s independently-developed fuel cell engine, which boasts a power capacity of 66 kW and can start in cold temperature environments of as low as -30°C, passed the inspection test of the National Motor Vehicle Product Quality Inspection Center. It adopts Shanghai Electric’s proprietary hydrogen circulation system, which delivers strong power and impressive endurance, with the potential to replace gasoline and diesel engines in commercial vehicles.

As the technology matures, hydrogen has entered a stage of accelerated industrialization. Shanghai Electric is leveraging the opportunities to propel its development and the green energy transformation. As part of these efforts, Shanghai Electric established a Hydrogen Energy Division in 2020 to further accelerate the development and bring about a new era of green, clean energy.

As one of the largest energy equipment manufacturing companies in China, Shanghai Electric, with its capability for project development, marketing, investment and financing and engineering, procurement and construction (EPC), continues to accelerate the development and innovation of new energy. The Company has a synergistic foundation and resource advantages across the industrial chain from upstream power generation to downstream chemical metallurgy. The combined elements will accelerate the pace of Shanghai Electric’s entry into the field of hydrogen production.

Currently, Shanghai Electric has deployed a number of leading green hydrogen integrated energy industry demonstration projects in Ningdong Base, one of China’s four modern coal chemical industry demonstration zones. Among them, the Ningdong Energy Base “source-grid-load-storage-hydrogen” project integrates renewable energy generation, energy storage, hydrogen production from electrolysis, and the entire industrial chain of green chemical/metallurgy.

In December 2020, Shanghai Electric inked a cooperation agreement to develop a “source-grid-load-storage-hydrogen” energy project in Otog Front Banner, Inner Mongolia. Equipped with large-scale electrochemical energy storage and hydrogen production equipment, the project will build a massive new energy power generation base and help the region to achieve efficient cold, heat, electricity, steam and hydrogen energy supply.

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/shanghai-electric-signs-agreement-to-launch-pem-hydrogen-production-technology-rd-center-empowering-green-hydrogen-development-in-china-301248334.html

SOURCE Shanghai Electric

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Ontrak Appoints CVS Health’s Chief Transformation Officer, Jonathan Mayhew, as Chief Executive Officer

Ontrak Appoints CVS Health’s Chief Transformation Officer, Jonathan Mayhew, as Chief Executive Officer

Founder and Majority Shareholder, Terren Peizer, named Executive Chairman

Mayhew brings proven public company leadership experience with multi-billion-dollar businesses

SANTA MONICA, Calif.–(BUSINESS WIRE)–
Ontrak, Inc (NASDAQ: OTRK) (“Ontrak” or the “Company”), a leading AI-powered and telehealth-enabled, virtualized healthcare company, today announced the appointment of CVS Health (NYSE: CVS) Executive Vice President and Chief Transformation Officer Jonathan Mayhew as Ontrak Chief Executive Officer effective April 12, 2021. Terren Peizer, who founded the company 17 years ago and served as CEO and Chairman through the company’s launch and expansion of national health plan contracts, was named Executive Chairman. Peizer will continue to serve as Chairman of the Ontrak Board of Directors and remains majority shareholder.

“It’s been a tremendous honor to serve as CEO of Ontrak since founding the company, and I’m incredibly proud of the accomplishments of our 700-person team,” said Terren Peizer, Chairman and CEO. “I have long looked forward to handing over the CEO reins to an executive of Jonathan’s stature, and the Ontrak Board of Directors and I are confident that he is the right leader to build upon our growth trajectory and scale the business. Jonathan is a seasoned leader with deep experience building and leading multi-billion-dollar businesses, strong relationships with C-Suite executives in the healthcare industry, and a proven track record of delivering record growth. I very much look forward to supporting Jonathan. In my new role as Executive Chairman, I will continue to focus on our capital formation and shareholder value-added transactions, drive our mission-driven culture, and collaborate with Jonathan on our long-term growth strategy. Jonathan will assume day-to-day leadership of Ontrak on April 12.”

Jonathan Mayhew stated, “Ontrak is a high growth, high potential company with a very exciting future. The company has industry-leading engagement and member satisfaction scores, third-party validated savings and ROI, and lasting clinical outcomes with the most challenging care-avoidant, high acuity members that represent 44% of the health industry’s medical expense. This is an irresistible opportunity for me to lead a company with an exceptionally talented team and to develop an integrated intervention platform for behavioral health powered by the market’s best engagement engine.”

As Executive Vice President CVS Health and Chief Transformation Officer until April 2021, Mayhew had enterprise-wide oversight of the entire portfolio of CVS business transformation initiatives and played a key role in shaping CVS Health’s integrated value story. Previously, he was President of U.S. Markets for the Aetna Health Care Business (HCB), where he was responsible for $52B in revenue and $4.3B in operating income for all commercial and Medicare lines of business. He was also responsible for commercial and Medicare sales and account management, all provider contracting and provider relations activities (including joint ventures and high-performance network arrangements). Under Mayhew’s leadership, the Aetna Markets Organization achieved record growth (of 18% in Medicare; and 4% in commercial), and launched innovative, customer-focused solutions to 17 million medical members nationwide, resulting in unprecedented national account sales and retention. Prior to joining Aetna, Mayhew was a founding principal, CEO and President of Freedom Disability. Mayhew also held senior leadership roles at Cigna, where he served as Senior Vice President of Product, Marketing and Strategy for the enterprise, and President of the Northeast Region.

About Ontrak, Inc.

Ontrak, Inc. (f/k/a Catasys, Inc.) is a leading AI and telehealth enabled, virtualized healthcare company, whose mission is to help improve the health and save the lives of as many people as possible. The company’s PRE™ (Predict-Recommend-Engage) platform predicts people whose chronic disease will improve with behavior change, recommends effective care pathways that people are willing to follow, and engages people who are not getting the care they need. By combining predictive analytics with human engagement, Ontrak delivers improved member health and validated outcomes and savings to healthcare payers.

The company’s integrated, technology-enabled Ontrak™ programs, a critical component of the PRE platform, are designed to provide healthcare solutions to members with behavioral conditions that cause or exacerbate chronic medical conditions such as diabetes, hypertension, coronary artery disease, COPD, and congestive heart failure, which result in high medical costs.

Ontrak has a unique ability to engage these members, who do not otherwise seek behavioral healthcare, leveraging proprietary enrollment capabilities built on deep insights into the drivers of care avoidance.

Ontrak integrates evidence-based psychosocial and medical interventions delivered either in-person or via telehealth, along with care coaching and in-market Community Care Coordinators who address the social and environmental determinants of health, including loneliness. The company’s programs improve member health and deliver validated cost savings to healthcare payers of between 40 and 50 percent for enrolled members.

Learn more at www.ontrak-inc.com

Cautionary Note Regarding Forward-Looking Statements

Except for statements of historical fact, the matters discussed in this press release are forward-looking and made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect numerous assumptions and involve a variety of risks and uncertainties, many of which are beyond our control, which may cause actual results to differ materially from stated expectations. These risk factors include, among others, changes in regulations or issuance of new regulations or interpretations, limited operating history, our inability to execute our business plan, increase our revenue and achieve profitability, lower than anticipated eligible members under our contracts, our inability to recognize revenue, lack of outcomes and statistically significant formal research studies, difficulty enrolling new members and maintaining existing members in our programs, the risk that treatment programs might not be effective, difficulty in developing, exploiting and protecting proprietary technologies, intense competition and substantial regulation in the health care industry, the risks associated with the adequacy of our existing cash resources and our ability to continue as a going concern, our ability to raise additional capital when needed and our liquidity. You are urged to consider statements that include the words “may,” “will,” “would,” “could,” “should,” “believes,” “estimates,” “projects,” “potential,” “expects,” “plan,” “anticipates,” “intends,” “continues,” “forecast,” “designed,” “goal,” or the negative of those words or other comparable words to be uncertain and forward-looking. Forward looking statements may include statements regarding our proprietary IP and technological innovation allowing us to identify, engage, and create lasting behavior change in the lives of those with unaddressed behavioral health conditions and chronic disease. For a further list and description of the risks and uncertainties we face, please refer to our most recent Securities and Exchange Commission filings which are available on its website at http://www.sec.gov. Such forward-looking statements are current only as of the date they are made, and we assume no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Investors:

Caroline Paul

Gilmartin Group

[email protected]

KEYWORDS: United States North America California

INDUSTRY KEYWORDS: General Health Health Data Management Technology Software

MEDIA:

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Sun Life announces new sustainable investing and climate change commitments

PR Newswire

Company’s sustainability strategy focuses on maximizing social and environmental impact, aligning to its insurance and asset management businesses

TORONTO, March 16, 2021 /PRNewswire/ – Sun Life Financial Inc. (“Sun Life”) (TSX: SLF) (NYSE: SLF) today announced sustainable investing and climate change actions that will drive meaningful outcomes for a lower carbon, more inclusive economy. These commitments bolster Sun Life’s sustainability strategy, while supporting the company’s purpose of helping Clients achieve lifetime financial security and live healthier lives.

“Our sustainability and climate change actions to increase sustainable investing, achieve carbon neutral operations and reduce greenhouse gas emissions contribute to our sustainability priorities. Our actions will have an environmental and social impact for our Clients, employees and our communities for generations to come,” said Melissa Kennedy, Executive Vice-President, Chief Legal Officer and Public Affairs and Executive Sponsor of Sustainability for Sun Life. “Sun Life remains active in supporting the transition to a lower carbon, more inclusive economy and as a company we are continuously identifying new ways we can advance this outcome.”


Sustainable Investing

Sun Life has set a goal to invest an additional C$20 billion in sustainable investments over the next five years across its General Account and third party investments.1 2 These additional investments may range from renewable energy, energy efficiency, sustainable buildings, clean transportation, water management, and social infrastructure projects, such as hospitals. Sun Life currently has close to C$60 billion invested in sustainable investments combining assets through the General Account and SLC Management’s third party investments.

Kennedy added, “As a global insurance and asset management company, Sun Life is taking an active role in sustainable investing, but more importantly it shows how we’re holding ourselves accountable as a trusted and responsible business.”

Many of Sun Life’s sustainable investments have created meaningful outcomes in the lives of others. In 2020, the company made 46 new sustainable investments with 12 focused on providing access to essential services and 13 investments in energy efficiency, including energy and water efficiency projects across several school buildings in the state of Missouri.

Environmental, social and governance (ESG) considerations are one important lens in Sun Life’s investment decision-making process to identify opportunities and risks. In 2020, Sun Life Assurance Company of Canada received an “A” on all scored modules in the Principles for Responsible Investment (PRI)’s annual global evaluation of responsible investing.3

Sun Life also achieved a top global ranking in the annual GRESB Real Estate Benchmark for its General Account, ranking second in Canada and sixth globally for the Diversified, Non-listed, Core peer group.4


Carbon Neutral Operations

Starting this year, business operations around the world for both Sun Life and MFS, Sun Life’s premier global asset management firm, will be carbon neutral. Sun Life continues to drive initiatives that reduce greenhouse gas (GHG) emissions, including enhancing the energy efficiency of its office spaces. MFS has already taken a number of actions to enhance energy efficiency in its physical offices and will continue to seek additional opportunities to further reduce its carbon impact.

Sun Life also plans to introduce an internal carbon charge for business air travel when it lifts its current COVID-19 travel restrictions for employees.


GHG Emission Intensity Targets

Recognizing that buildings account for about one-third of GHG emissions worldwide and consume 40 per cent of global energy,5 Sun Life continues to reduce its GHG emissions intensity6 across its offices and real estate investment properties globally. In 2019, a year ahead of schedule, Sun Life met its 2020 target to reduce GHG emissions intensity7 by 20 per cent. The company is working towards reducing its GHG emissions intensity8 by 30 per cent by 2030.

SLC Management and MFS have joined the Climate Action 100+ initiative, an investor-led initiative to ensure the world’s largest corporate greenhouse gas emitters take necessary action on climate change.

The company’s approach to addressing climate change also involves strengthening its ability to evaluate and report on potential impacts. Sun Life included its first disclosures in line with the Task Force on Climate-Related Financial Disclosures (TCFD) recommendations in its 2020 Annual Management Discussion & Analysis.

The company will publish its 2020 Sustainability Report on March 25, 2021 at sunlife.com/sustainability.

About Sun Life’s Sustainability Plan
Sun Life’s Sustainability Plan builds from a foundation as a trusted and responsible business. At its core is a focus on the areas where Sun Life can make the most positive social and environmental impact: increasing financial security, fostering healthier lives and advancing sustainable investing. Sun Life’s Sustainability Plan also focuses on minimizing its environmental footprint, supporting diversity, equity and inclusion in the workplace, data security and privacy, governance and ethics and risk management. In 2019, Sun Life also became the first life insurance company in the world to issue a sustainability bond. To learn more about Sun Life’s Sustainability Report visit www.sunlife.com/en/sustainability/.

About Sun Life
Sun Life is a leading international financial services organization providing insurance, wealth and asset management solutions to individual and corporate Clients. Sun Life has operations in a number of markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of December 31, 2020, Sun Life had total assets under management of $1,247 billion. For more information please visit www.sunlife.com.

Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.

Forward-looking information

In this news release, “we”, “our” and “us” refer to Sun Life and its subsidiaries and joint ventures.  Certain statements in this news release are forward-looking, including, but not limited to, statements (i) relating to our growth strategies and strategic objectives, (ii) relating to our anticipated sustainable investment commitments, (iii) that are not historical or that are predictive in nature or that depend upon or refer to future events or conditions, and (iv) that include words such as “intends to”, “will”, and similar expressions.  All such forward-looking statements are made pursuant to the “safe harbour provisions” of applicable Canadian securities laws and of the United States Private Securities Litigation Reform Act of 1995. The forward-looking statements in this news release represent our current expectations, estimates and projections regarding future events as of the time of this news release and are not historical facts.  These forward-looking statements are not a guarantee of future performance and involve risks and uncertainties and are based on key factors and assumptions that are difficult to predict. Some of these assumptions and risks and uncertainties are described further in the Company’s management’s discussion and analysis for the year ended December 31, 2020 under the heading “Forward-looking Statements”, in the risk factors set out in the Company’s annual information form for the year ended December 31, 2020 under the heading “Risk Factors”, in the other factors detailed in the Company’s annual and interim financial statements and in the Company’s other filings with Canadian and U.S. securities regulators, which are available for review at www.sedar.com and www.sec.gov, respectively. Actual results may differ materially from those expressed, implied or forecasted in such forward-looking statements.

Except as may be required by Canadian securities laws, we do not undertake any obligation to update or revise any forward-looking statements contained in this news release.


Note to editors: All figures in Canadian dollars

Media Relations Contact:

Abigail Bueno

Manager, Corporate Communications
416-802-8107
[email protected] 

Investor Relations Contact:

Leigh Chalmers

SVP & Head of Investor Relations
Capital Markets
647-256-8201
[email protected]

_________________________________                                   


1 Forward Looking statement. See full statement at the end of the news release.


2 Excludes MFS, Sun Life’s premier global asset management company


3 For copies of 2020 PRI Assessment and Transparency reports, contact [email protected]


4 BentallGreenOak (November 24, 2020), BentallGreenOak’s global real estate investment platform receives top accolades in the 2020 Global Real Estate Sustainability Benchmark (GRESB), marking 10 years of leadership in ESG [Press Release]. Retrieved from https://www.bentallgreenoak.com/press-release-2020-11-24.php


5 UNEP Finance Initiative, BentallGreenOak and REALPAC. “Global ESG Survey Results,” 2019.


6 Sun Life calculates year-over-year reductions annually and reports cumulatively versus the 2014 baseline. This includes GHG emissions resulting from energy, water, and waste (where weight data exists), and normalized to remove the impact of changing weather, occupancy and exceptional loads, for Real Estate Investment properties where Sun Life has financial control, and global corporate real estate properties >40,000 ft² where Sun Life has financial control. Reported reductions account for the purchase of renewable energy credits and carbon offsets (market-based reporting).


7 Sun Life calculates year-over-year reductions annually and reports cumulatively versus the 2014 baseline. This includes GHG emissions resulting from energy, water, and waste (where weight data exists), and normalized to remove the impact of changing weather, occupancy and exceptional loads, for Real Estate Investment properties where Sun Life has financial control, and global corporate real estate properties >40,000 ft² where Sun Life has financial control. Reported reductions account for the purchase of renewable energy credits and carbon offsets (market-based reporting).


8 Sun Life calculates year-over-year reductions annually and reports cumulatively versus the 2014 baseline. This includes GHG emissions resulting from energy, water, and waste (where weight data exists), and normalized to remove the impact of changing weather, occupancy and exceptional loads, for Real Estate Investment properties where Sun Life has financial control, and global corporate real estate properties >40,000 ft² where Sun Life has financial control. Reported reductions account for the purchase of renewable energy credits and carbon offsets (market-based reporting).

 

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SOURCE Sun Life Financial Inc.

Posted on

Envestnet Enhances Client Portal Experience with Acquisition of Technology Solutions from Apprise Labs

– Technologies to Power a New Intelligently Connected Client Portal Experience

– MoneyGuide unveils Wealth Studios, Offering Cash Flow and Estate Planning

PR Newswire

CHICAGO, March 16, 2021 /PRNewswire/ — Envestnet (NYSE: ENV) announced today it has acquired technology from Apprise Labs to advance Envestnet’s roadmap to deliver a reimagined client portal experience that will focus on helping clients achieve financial wellness through deeper connections with their advisors. The deal also includes the acquisition of cash flow planning and advanced estate planning solutions that will enhance Envestnet | MoneyGuide’s robust financial planning ecosystem.

It becomes a true superpower for the advisor—helping their clients intelligently connect their financial lives.

“Apprise Labs has developed a groundbreaking digital experience for advisors to engage and collaborate with their clients,” saidBill Crager, CEO and Co-Founder of Envestnet. “This access and engagement completely transform the way clients view and interact with their finances. It becomes a true superpower for the advisor—helping their clients intelligently connect their financial lives.”

The financial planning technology solutions acquired from Apprise Labs will now be offered by MoneyGuide as Wealth Studios. This includes a detailed cash flow report that allows advisors to engage their wealthy clients differently using a goals-based approach. The offering also comprises advanced estate and legacy planning that addresses ultra-high-net-worth (UHNW) client needs, like trust modeling and inheritance fairness planning.

“It has long been our mantra that everyone needs and deserves a quality financial plan; we’re a giant leap closer to helping advisors deliver this essential benefit. The acquisition will help advisors expand their ability to better address the needs of all clients, regardless of level of wealth, stage in life, and complexity of finances,” saidTony Leal, President of Envestnet | MoneyGuide. “By adding this product, developed by an industry leader in financial planning, advisors and institutions can now provide more tailored solutions, ranging from debt management strategies to multi-generational planning with one vendor relationship.”

These enhancements to the Envestnet ecosystem will help the firm execute on its mission to deliver an intelligently connected financial life for investors. The data and insights powering these capabilities support each phase of advice, from determining an estate goal to engaging with the Envestnet Trust Services Exchange to meet the estate’s needs, within a hyper-personalized client portal that can be accessed anywhere and from any location whenever clients decide they need it. This new environment is rolling out to a beta group of clients in June, and will be rolled out more broadly by the end of 2021.

“Envestnet truly understands the value of financial advice, and the advisor-client relationship. I’m excited that they continue to take client engagement to the next level—now with more interactive experiences as well as deeper income and legacy planning capabilities,” said Edmond Walters, Founder and CEO of Apprise Labs. “I look forward to continuing our collaboration to provide new ways for advisors to improve the way they connect with their clients.”

Terms of the deal were not disclosed.

About Envestnet
Envestnet, Inc. (NYSE: ENV) is transforming the way financial advice and wellness are delivered. Our mission is to empower advisors and financial service providers with innovative technology, solutions, and intelligence to make financial wellness a reality for everyone. Over 106,000 advisors and more than 5,100 companies including: 17 of the 20 largest U.S. banks, 47 of the 50 largest wealth management and brokerage firms, over 500 of the largest RIAs and hundreds of FinTech companies, leverage Envestnet technology and services that help drive better outcomes for enterprises, advisors and their clients.

For more information, please visit www.envestnet.com, subscribe to our blog, and follow us on Twitter (@ENVintel) and LinkedIn.

Media Contact:

Dana Taormina

JConnelly for Envestnet
973.647.4626
[email protected]

 

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/envestnet-enhances-client-portal-experience-with-acquisition-of-technology-solutions-from-apprise-labs-301248123.html

SOURCE Envestnet, Inc.

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Allterco Robotics US Names Home Automation Veteran as National Sales Director

Tom Lenahan brings decades of expertise in smart home innovation to the Shelly US brand

LAS VEGAS, March 16, 2021 (GLOBE NEWSWIRE) — Smart home innovator Allterco Robotics US, makers of the award-winning Shelly smart home products, today announced Tom Lenahan has joined the company as National Sales Director. With more than 25 years in smart home automation as both an executive and entrepreneur, Lenahan is uniquely qualified to help build the network of Shelly distributors, OEM partners and installers across North America.

As organizations continue to invest in IoT and “smart” technology applications, many are looking for novel ways to maximize automation capabilities and enhance existing product lines. Shelly’s line of proven smart relays, plugs, and sensors are uniquely designed to deliver the flexibility and connectivity needed to make home automation, smart buildings and IoT-based products a reality.

“I recognized the potential for Shelly products the very first time I came across the company. Unlike other offerings on the market today, this product line can deliver immediate value for organizations investing in smart automation capabilities. I’m excited to translate my understanding of market requirements into solutions that meet a wide array of customer demands and help Shelly become an industry leader in North America,” commented Lenahan.

Prior to joining the Allterco Robotics US team, Lenahan held executive sales positions at home automation heavyweights X-10 and Remotec Technology. He also built and sold two successful businesses including ZWaveProducts.com and a consulting business designed to help technology companies leverage smart home automation and IoT standards and bring products to market quickly. As Allterco continues to expand its brand presence among installers, distributors, and OEMs, Lenahan’s deep market experience will be invaluable to the organization as it grows.

“The market for home automation and smart building technology in North America is expanding exponentially as businesses recognize the value IoT technologies can bring to their bottom line. We needed a sales leader that is as invested in the industry’s ongoing growth as we are and could help us capitalize on the market opportunity,” said Svetlin Todorov, CEO of Allterco Robotics US. “As a longtime proponent of home automation technology, Tom understands this market inside and out and has built a reputation as an innovator himself. We are thrilled to have him as a member of our growing US-based team.”

To learn more about the innovative line of Shelly products visit, http://shelly.cloud/.

About Allterco Robotics US 

Based in Las Vegas, Nevada, Allterco Robotics US brings the company’s line of award-winning Shelly smart home products to North America. Fully compatible with every major smart home platform and built on open source software, Shelly products provide customers with countless ways to make their homes more intelligent. Known for their unique combination of high quality, small size, and low cost, Shelly’s suite of proven smart relays, plugs, and sensors deliver the smart home innovations customers need to make life easier and more comfortable.

A division of Allterco Robotics, headquartered in Sofia, Bulgaria, Allterco Robotics US products are available for direct consumer purchase and sold through distribution channels. For more information or to shop the entire line of Shelly US products visit http://shelly.cloud/.



Media Contact:
Julie Crotty
Attune Communications 
978-877-0053
[email protected]