Posts

Posted on

Univar Solutions and Fluid Energy Group Announce New Agreement for Enviro-Syn® Modified / Synthetic Acid™ and Associated Technology

Agreement adds eco-friendly and technically advanced specialty chemical solutions to Univar Solutions increasing portfolio of more sustainable offerings

PR Newswire

ROTTERDAM, Netherlands, Nov. 12, 2020 /PRNewswire/ — Europe, Univar Solutions B.V., a subsidiary of Univar Solutions Inc. (NYSE: UNVR) (“Univar Solutions” or “the Company”), a global chemical and ingredient distributor and provider of value-added services, today announced a distribution, blending, and production agreement with Fluid Energy Group (“Fluid”) for the Enviro-Syn Modified / Synthetic Acid product line that is used in multiple industrial applications. Fluid’s patented product lines are unique, globally proven, and will expand Univar Solutions portfolio of safer, more sustainable, eco-friendly and technically advanced specialty chemical solutions.

Fluid has appointed Univar Solutions as its distributor, blender, and producer in select European countries, including Belgium, France, Iberia, Ireland, Italy, Luxembourg, Netherlands, the Nordics, and the United Kingdom for the Enviro-Syn® HCR™ Modified / Synthetic Acid™ systems and associated products including its Modified Caustic systems (CSR).

Liam McCarroll, global director of sustainability at Univar Solutions commented, “Fluid’s commitment to reducing environmental impact with safer and higher performing chemical products aligns perfectly with our approach to delivering more sustainable solutions and partnering with environmentally responsible global business partners dedicated to innovation, quality, and application expertise. We look forward to providing customers across Europe with a greater product portfolio with technically advanced chemical options to help accelerate growth.”

Fluid’s patented Enviro-Syn technologies are designed to help enhance and provide effective alternatives to traditional, highly hazardous, commodity acids and alkali products. Compared to conventional hydrochloric acid (HCl) and caustic soda (NaOH), Enviro-Syn HCR and CSR systems provide better technical properties in many aspects and lower fuming and disassociation rates. Additionally, many lines are non-corrosive to dermal tissue and exhibit ultra-low corrosion properties on various materials, reducing corrosion related liability. Fluid’s patented or patent pending products are more environmentally responsible, biodegradable, non-volatile and demonstrate low toxicity over incumbents. In addition to established global applications in the oil and gas industry, the modified acid and alkali systems have proven applications across many other industries, including water treatment, food and beverage, household and industrial cleaning, life sciences, construction, and marine.

“We are extremely pleased that Fluid has placed their trust in our team at Univar Solutions to extend these advanced technologies in the European market. Enviro-Syn systems are safer, cutting-edge alternatives to commonly used hydrochloric acid and caustic soda, delivering broad-application performance while reducing health hazards and impact on the environment as sustainable alternatives,” said Nigel Hayes, regional vice president for Europe, Middle East, and Africa at Univar Solutions.

Clay Purdy, CEO at Fluid Energy Group, said, “Fluid continues to develop and improve on industry-leading technology, creating new alternatives and expanding its offerings globally. We are excited to work with Univar Solutions as our new European distributor of our unique and environmentally responsible product lines.” Purdy continued, “When seeking out the optimal partner for our products in Europe, we wanted a distributor whose environmental values around chemical solutions aligned with ours and who could bring together technical innovation, product expertise, and market leadership. With Univar Solutions’ global footprint, expansive sales infrastructure, supply chain, and dedicated customer service, together we are well-positioned to provide our customers the resources they need to deploy innovative products in the oil and gas sectors as well as many other industries. We look forward to additional global expansion with Univar Solutions.”

About Univar Solutions
Univar Solutions (NYSE: UNVR) is a leading global specialty chemical and ingredient distributor representing a premier portfolio from the world’s leading producers. With the industry’s largest private transportation fleet and North American sales force, unparalleled logistics know-how, deep market and regulatory knowledge, world-class formulation and recipe development, and leading digital tools, the Company is well-positioned to offer tailored solutions and value-added services to a wide range of markets, industries, and applications. Univar Solutions is committed to helping customers and suppliers innovate and grow together. Learn more at UnivarSolutions.com.

About Fluid Energy Group Ltd.
Fluid Energy Group Ltd. was founded in Calgary, Alberta, Canada (2011) to manufacture eco-conscious, low-hazard, and low toxicity Modified Acid™ and Synthetic Acid™ systems and associated chemistries. With >120 patented or patent-pending products, the Company’s strategy is to continually develop and improve industry-leading technology and deploy it globally in a methodical, prudent, and technical manner. By being focused on supporting its customers’ operations, producing industry-leading technology, and communicating the technical and HS&E advantages of its products to industry and Government, Fluid Energy Group has amassed an industry leading customer profile. Its large dedicated team of scientists, global operational support, and sales team are committed to shift industry from hazardous chemical incumbents such as Hydrochloric acid and many other common chemical commodities, to technologically superior and far safer chemistry.

Forward-Looking Statements
This press release includes certain statements relating to future events and our intentions, beliefs, expectations, and outlook for the future, which are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended, including, without limitation, statements regarding the impacts of the effects of COVID-19 on the Company, the Company’s anticipated future results and financial performance, liquidity position and cash flows, actions regarding expense control and cost reductions, expected net synergies from the Nexeo acquisition, capital expenditures and other statements regarding the Company’s Streamline 2022 Program and other initiatives. Forward-looking statements are subject to known and unknown risks and uncertainties, many of which may be beyond the Company’s control. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the expectations and assumptions. A detailed discussion of these factors and uncertainties is contained in the Company’s filings with the Securities and Exchange Commission. Potential factors that could affect such forward-looking statements include, among others: the sustained geographic spread of the COVID-19 pandemic; the duration and severity of the COVID-19 pandemic; current and new actions that may be taken by governmental authorities to address or otherwise mitigate the impact of the COVID-19 pandemic; the potential negative impacts of COVID-19 on the global economy and our customers and suppliers; the overall impact of the COVID-19 pandemic on our business, results of operations and financial condition; other fluctuations in general economic conditions, particularly in industrial production and the demands of our customers and the timing and extent of an economic recovery; significant changes in the business strategies of producers or in the operations of our customers; increased competitive pressures, including as a result of competitor consolidation; significant changes in the pricing, demand and availability of chemicals; our levels of indebtedness, the restrictions imposed by our debt instruments, and our ability to obtain additional financing when needed; the broad spectrum of laws and regulations that we are subject to, including extensive environmental, health and safety laws and regulations; an inability to integrate the business and systems of companies we acquire, including of Nexeo, or to realize the anticipated benefits of such acquisitions; potential business disruptions and security breaches, including cybersecurity incidents; an inability to generate sufficient working capital; increases in transportation and fuel costs and changes in our relationship with third party providers; accidents, safety failures, environmental damage, product quality and liability issues and recalls; major or systemic delivery failures involving our distribution network or the products we carry; operational risks for which we may not be adequately insured; ongoing litigation and other legal and regulatory risks; challenges associated with international operations; exposure to interest rate and currency fluctuations; potential impairment of goodwill; liabilities associated with acquisitions, ventures and strategic investments; negative developments affecting our pension plans and multi-employer pensions; labor disruptions associated with the unionized portion of our workforce; and the other factors described in the Company’s filings with the Securities and Exchange Commission. We caution you that the forward-looking information presented in this press release is not a guarantee of future events or results, and that actual events or results may differ materially from those made in or suggested by the forward-looking information contained in this press release. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as “may,” “plan,” “seek, “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe” or “continue” or the negative thereof or variations thereon or similar terminology. Any forward-looking information presented herein is made only as of the date of this press release, and the Company does not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise, except as required by law.

 

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/univar-solutions-and-fluid-energy-group-announce-new-agreement-for-enviro-syn-modified–synthetic-acid-and-associated-technology-301172392.html

SOURCE Univar Solutions Inc.

Posted on

Roper Technologies Increases Dividend 10% – Its 28th Consecutive Annual Dividend Increase

SARASOTA, Fla., Nov. 12, 2020 (GLOBE NEWSWIRE) — Roper Technologies, Inc. (NYSE: ROP) announced today that its Board of Directors has declared a quarterly cash dividend of $0.5625 per share, payable on January 22, 2021 to stockholders of record as of January 8, 2021. This represents an increase of 10% over the dividend paid in each quarter of 2020, or an expected $0.20 increase on an annual basis ($0.05 on a quarterly basis).  This is the twenty-eighth consecutive year in which Roper has increased its dividend. 

About Roper Technologies

Roper Technologies is a constituent of the S&P 500, Fortune 1000, and the Russell 1000 indices. Roper operates businesses that design and develop software (both license and software-as-a-service) and engineered products and solutions for a variety of niche end markets. Additional information about Roper is available on the Company’s website at www.ropertech.com.

The information provided in this press release contains forward-looking statements within the meaning of the federal securities laws. These forward-looking statements may include, among others, statements regarding operating results, the success of our internal operating plans, and the prospects for newly acquired businesses to be integrated and contribute to future growth, profit, cash flow and dividend expectations.  Forward-looking statements may be indicated by words or phrases such as “anticipate,” “estimate,” “plans,” “expects,” “projects,” “should,” “will,” “believes,” “intends” and similar words and phrases. These statements reflect management’s current beliefs and are not guarantees of future performance. They involve risks and uncertainties that could cause actual results to differ materially from those contained in any forward-looking statement. Such risks and uncertainties include our ability to integrate acquisitions and realize expected synergies. We also face other general risks, including our ability to realize cost savings from our operating initiatives, general economic conditions, changes in foreign exchange rates, difficulties associated with exports, risks associated with our international operations, difficulties in making and integrating acquisitions, risks associated with newly acquired businesses, increased product liability and insurance costs, increased warranty exposure, future competition, changes in the supply of, or price for, parts and components, environmental compliance costs and liabilities, risks and cost associated with asbestos related litigation, potential write-offs of our substantial intangible assets, and risks associated with obtaining governmental approvals and maintaining regulatory compliance for new and existing products. Important risks may be discussed in current and subsequent filings with the SEC. You should not place undue reliance on any forward-looking statements. These statements speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.

Contact Information:

Investor Relations
+1 (941) 556-2601
[email protected] 

Posted on

Tengasco Announces Third Quarter 2020 Financial Results

PR Newswire

GREENWOOD VILLAGE, Colo., Nov. 12, 2020 /PRNewswire/ — Tengasco, Inc. (NYSE American: TGC) (the “Company” or “Tengasco”) announced today its financial results for the quarter ended September 30, 2020.  The Company reported a net loss of $(813,000) or $(0.08) per share of common stock during the third quarter of 2020 compared to net loss of $(182,000) or $(0.02) per share of common stock during the third quarter of 2019.  The $631,000 decrease in net income was primarily due to an $450,000 decrease in revenues, and a $388,000 increase in general and administrative expenses, partially offset by a $167,000 decrease in production costs and taxes and a $40,000 decrease in depreciation, depletion, and amortization costs.

The Company recognized $765,000 in revenues during the third quarter of 2020 compared to $1.2 million during the third quarter of 2019. The $450,000 decrease in net revenues was primarily due to a $318,000 reduction related to a $15.15 per barrel decrease in the average oil price from $51.18 per barrel during the third quarter of 2019 to $36.03 per barrel during the third quarter of 2020, and a $133,000 reduction related to a 2.6MBbl decrease in oil sales volumes.  The 2.6MBbl decrease in sales volumes was primarily related to lower sales on the Albers, Dick A, Liebenau, and Stahl leases related to natural production declines and timing of crude pickups by the purchases, partially offset by sales from the Zimmerman well that was completed at the beginning of 2020.

The Company reported a net loss of $(1.9 million) or $(0.18) per share of common stock during the first nine months of 2020 compared to a net loss of $(269,000) or $(0.03) per share of common stock during the first nine months of 2019.  The $1.6 million decrease in net income was primarily due to an $1.5 million decrease in revenues, a $411,000 increase in general and administrative expenses, and a $41,000 decrease in gain on sale of assets, partially offset by a $205,000 decrease in production costs and taxes, and a $105,000 decrease in depreciation, depletion, and amortization costs.

The Company recognized $2.3 million of revenues during the first nine months of 2020 compared to $3.8 million during the first nine months of 2019.  This decrease in net revenue was primarily due to an $1.2 million reduction related to a $18.12 per barrel decrease in the average oil price from $52.09 per barrel during the first nine months of 2019 to $33.97 per barrel during the first nine months of 2020, and a $269,000 reduction related to a 5.1MBbl decrease in sales volumes.  The 5.1MBbl decrease in sales volumes was primarily related to lower sales on the Albers, BSU, Liebenau, Veverka D leases related to natural production declines, partially offset by sales from the Zimmerman well that was completed at the beginning of 2020.

Michael J. Rugen, CEO, said “As noted in our press release issued on October 21, 2020, the Company entered into a merger agreement with Riley Exploration-Permian, LLC providing for an all-stock transaction.  In addition, the Company recently filed a Registration Statement on Form S-4 related to the proposed merger.”


No Offer or Solicitation

Communications in this news release do not constitute an offer to sell or the solicitation of an offer to subscribe for or buy any securities or a solicitation of any vote or approval with respect to the proposed transaction or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No public offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.


Additional Information for Stockholders

In connection with the proposed transaction, Tengasco has filed materials with the Securities and Exchange Commission (“SEC”), including a Registration Statement on Form S-4 (the “Registration Statement”) that includes a preliminary proxy statement/prospectus. The information in the preliminary proxy statement/prospectus is not complete and may be changed.  After the Registration Statement is declared effective by the SEC, Tengasco intends to mail a definitive proxy statement/prospectus to the stockholders of Tengasco. This news release is not a substitute for the definitive proxy statement/prospectus or the Registration Statement or for any other document that Tengasco may file with the SEC and send to Tengasco’s stockholder in connection with the proposed transaction. INVESTORS AND SECURITY HOLDERS OF TENGASCO ARE URGED TO CAREFULLY AND THOROUGHLY READ THE REGISTRATION STATEMENT AND THE PROXY STATEMENT/PROSPECTUS, AS EACH MAY BE AMENDED OR SUPPLEMENTED FROM TIME TO TIME, AND OTHER RELEVANT DOCUMENTS FILED BY TENGASCO WITH THE SEC, WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT TENGASCO, RILEY EXPLORATION-PERMIAN, LLC (“RILEY”), THE PROPOSED TRANSACTION, THE RISKS RELATED THERETO AND RELATED MATTERS.

Investors are able to obtain free copies of the Registration Statement and proxy statement/prospectus, as each may be amended from time to time, and other relevant documents filed by Tengasco with the SEC (when they become available) through the website maintained by the SEC at www.sec.gov. Copies of documents filed with the SEC by Tengasco will be available free of charge from Tengasco’s website at www.tengasco.com under the “Investor” tab.


Participants in the Proxy Solicitation

Tengasco, Riley and their respective directors, managers and certain of their officers and other members of management and employees may be deemed, under SEC rules, to be participants in the solicitation of proxies from Tengasco’s stockholders in connection with the proposed transaction. Information regarding the officers and directors of Tengasco is included in its definitive proxy statement for its 2020 annual meeting filed with the SEC on October 30, 2020. Additional information regarding such persons, as well as information regarding Riley’s directors, managers and officers and other persons who may be deemed participants in the proposed transaction, is set forth in the Registration Statement and the preliminary proxy statement/prospectus and will be set forth in other materials when they are filed with the SEC in connection with the proposed transaction. Free copies of these documents may be obtained as described in the paragraphs above.


Cautionary Statement Regarding Forward-Looking Information

Certain statements in this news release concerning the proposed transaction are “forward-looking” statements based on assumptions currently believed to be valid. Forward-looking statements are all statements other than statements of historical facts. The words “anticipate,” “believe,” “ensure,” “expect,” “if,” “intend,” “estimate,” “probable,” “project,” “forecasts,” “predict,” “outlook,” “aim,” “will,” “could,” “should,” “would,” “potential,” “may,” “might,” “anticipate,” “likely” “plan,” “positioned,” “strategy,” and similar expressions or other words of similar meaning, and the negatives thereof, are intended to identify forward-looking statements. The forward-looking statements are intended to be subject to the safe harbor provided by Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995.

These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those anticipated, including, but not limited to, the possibility that stockholders of Tengasco may not approve the issuance of new shares of Tengasco common stock in the transaction or other proposals that are a condition to the transaction or that the stockholders of Tengasco and the members of Riley may not approve the merger agreement; the risk that a condition to closing of the proposed transaction may not be satisfied, that either party may terminate the merger agreement or that the closing of the proposed transaction might be delayed or not occur at all; potential adverse reactions or changes to business or employee relationships, including those resulting from the announcement or completion of the transaction; the diversion of management time on transaction-related issues; the ultimate timing, outcome and results of integrating the operations of Tengasco and Riley; the effects of the business combination of Tengasco and Riley, including the combined company’s future financial condition, results of operations, strategy and plans; changes in capital markets and the ability of the combined company to finance operations in the manner expected; the fact that any dividend payments will be at the discretion of the combined company’s Board of Directors and may be subject to legal, contractual or other restrictions; the effects of commodity prices; the risks of oil and gas activities; and the fact that operating costs and business disruption may be greater than expected following the public announcement or consummation of the proposed transaction. Expectations regarding business outlook, including changes in revenue, pricing, capital expenditures, cash flow generation, strategies for our operations, oil and natural gas market conditions, legal, economic and regulatory conditions, and environmental matters are only forecasts regarding these matters.

Additional factors that could cause results to differ materially from those described above can be found in Tengasco’s Annual Report on Form 10-K for the year ended December 31, 2019 and in its subsequently filed Quarterly Reports on Form 10-Q, each of which is on file with the SEC and available from Tengasco’s website at www.tengasco.com under the “Investor” tab, and in other documents Tengasco files with the SEC.

All forward-looking statements speak only as of the date they are made and are based on information available at that time. Tengasco does not assume any obligation to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements were made or to reflect the occurrence of unanticipated events except as required by federal securities laws. As forward-looking statements involve significant risks and uncertainties, caution should be exercised against placing undue reliance on such statements.

Cision View original content:http://www.prnewswire.com/news-releases/tengasco-announces-third-quarter-2020-financial-results-301172360.html

SOURCE Tengasco, Inc.

Posted on

Expanded Wind Project to Power Arizona With More Clean Energy

Expanded Wind Project to Power Arizona With More Clean Energy

APS and Leeward contract to bring New Mexican wind power to Grand Canyon State

PHOENIX & DALLAS–(BUSINESS WIRE)–
Customers of Arizona Public Service Company (APS) will soon power their homes and businesses with more clean energy. Earlier this year, APS announced a bold commitment to deliver 100% clean, carbon-free electricity to customers by 2050. By the end of 2021, APS will harness the power of Leeward Renewable Energy’s (Leeward) advanced GE wind turbine technology to help meet Arizona’s growing energy demands.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201112006091/en/

Arizona Public Service has entered into a power purchase agreement with Leeward Renewable Energy to purchase 200 megawatts of wind energy output from their two New Mexican Aragonne Wind facilities. Leeward’s advanced GE wind turbine technology enables APS to provide renewable energy to customers and advance its bold energy commitment to deliver 100% clean, carbon-free electricity by 2050. (Photo: Business Wire)

Arizona Public Service has entered into a power purchase agreement with Leeward Renewable Energy to purchase 200 megawatts of wind energy output from their two New Mexican Aragonne Wind facilities. Leeward’s advanced GE wind turbine technology enables APS to provide renewable energy to customers and advance its bold energy commitment to deliver 100% clean, carbon-free electricity by 2050. (Photo: Business Wire)

APS has entered into a power purchase agreement (PPA) with Leeward to purchase wind energy output from Leeward’s two Aragonne Wind facilities. The PPA resulted from a September 2019 Wind Request for Proposal. This PPA enables Leeward to sell 200 megawatts of wind generation to APS over a term of 20 years through the repowering of Leeward’s existing 90-megawatt Aragonne Wind project and the construction of its 145-megawatt Aragonne Mesa Wind project. Both facilities are located within Guadalupe County, New Mexico.

Leeward and APS have a longstanding partnership. APS first purchased power from the legacy 90-megawatt Aragonne Wind farm in 2006 when the project began operating commercially. Repowering of this existing project, coupled with the new wind generation, fits squarely with APS’s efforts to advance Arizona’s clean energy future by adding new renewable resources to its energy mix and bringing customers direct cost-saving benefits through energy efficiency products and smart energy home programs.

“Renewable energy resources like this wind power are important to a diverse and increasingly clean energy mix for Arizona,” said Brad Albert, APS Vice President of Resource Management. “By working with supplier partners like Leeward, APS is advancing toward our target of having 45% of our generation portfolio in renewable energy by 2030 on the path to 100% clean energy by 2050. We are moving toward that future while continuing our focus on serving customers with reliable, affordable energy.”

This project will modernize Leeward’s existing wind assets and add significant generation capacity to its Guadalupe County, New Mexico, renewable energy complex. Together, both companies will use wind resources as a clean power solution for APS customers in Arizona.

“Leeward is pleased to partner with APS on an innovative project that will repower one of our legacy wind assets and also enable the construction of a new wind facility, bringing economic benefits to the local community,” said Andrew Flanagan, Chief Development Officer at Leeward. “We look forward to working alongside the APS team as we continue to actively develop new wind, solar and energy storage projects across the U.S.”

About APS

APS serves nearly 1.3 million homes and businesses in 11 of Arizona’s 15 counties, and is a leader in delivering affordable, clean and reliable energy in the Southwest. The company is committed to serving customers with 100% clean power by 2050. As owner and operator of Palo Verde Generating Station, the nation’s largest producer of carbon-free electricity, and with one of the country’s most substantial renewable energy portfolios, APS’s current energy mix is 50% clean. With headquarters in Phoenix, APS is the principal subsidiary of Pinnacle West Capital Corp. (NYSE: PNW).

About Leeward

Leeward Renewable Energy is a growth-oriented renewable energy company that owns and operates a portfolio of 21 wind farms across nine states, with 20 in operation and one under construction, totaling approximately 2,000 megawatts of generating capacity. Leeward is actively developing new wind, solar, and energy storage projects in energy markets across the U.S. Leeward is a portfolio company of OMERS Infrastructure, an investment arm of OMERS, one of Canada’s largest defined benefit pension plans with C$109 billion in net assets (as at December 31, 2019). For more information, visit www.leewardenergy.com.

Media Contacts:

APS: Yessica del Rincón (480) 209-8513 or [email protected]

Leeward: Kelly Kimberly (713) 822-7538 or [email protected]

Websites:

aps.com/newsroom

leewardenergy.com/news/

KEYWORDS: United States North America New Mexico Arizona Texas

INDUSTRY KEYWORDS: Alternative Energy Energy Other Energy Utilities

MEDIA:

Logo
Logo
Photo
Photo
Arizona Public Service has entered into a power purchase agreement with Leeward Renewable Energy to purchase 200 megawatts of wind energy output from their two New Mexican Aragonne Wind facilities. Leeward’s advanced GE wind turbine technology enables APS to provide renewable energy to customers and advance its bold energy commitment to deliver 100% clean, carbon-free electricity by 2050. (Photo: Business Wire)
Posted on

CenterPoint Energy Names Kenneth E. Coleman Senior Vice President and Chief Information Officer

PR Newswire

HOUSTON, Nov. 12, 2020 /PRNewswire/ — CenterPoint Energy, Inc. (NYSE: CNP) today announced that Kenneth E. Coleman has been named as Senior Vice President and Chief Information Officer, effective Nov. 16. Coleman will lead the company’s enterprise-wide information technology strategy, including the development, maintenance, use and security of CenterPoint Energy’s computer systems, software and networks. He will report to Gregory Knight, Executive Vice President, Customer Transformation and Business Services.

“Kenny joins CenterPoint Energy’s leadership team with a proven track record of building and leading world-class technology management and product development organizations, with a focus on origination of new projects and strategic planning for growth,” said Knight. “Under Kenny’s leadership, we will continue to leverage technology, data and analytics to support enterprise-wide business goals and drive innovative solutions for improving the customer experience and the company’s business and workforce efficiency.”

Coleman joins CenterPoint Energy following roles of increasing responsibility over more than 20 years at Southern Company and its subsidiaries, including serving as Senior Vice President and CIO where he led enterprise-wide IT. Most recently, Coleman served as President and CEO of the Birmingham Business Alliance (BBA) where he was responsible for developing collaborative efforts between the BBA and its community partners to lead economic growth for the seven-county Birmingham region.

Coleman earned a Bachelor of Science degree in Communications from the University of New Haven in New Haven, Conn., and a Master of Business Administration degree from the University of Alabama.

Coleman has served on the board of directors for the Boys and Girls Clubs of Metro Atlanta, Midtown Alliance (Atlanta) and WorkSource DeKalb. He is a faculty member for the Advanced Economic Development Leadership (AEDL) program and has served on customer advisory councils for Oracle, Verizon and the Edison Electric Institute (EEI). Coleman is also a member of the 100 Black Men of Atlanta, the American Association of Blacks in Energy (AABE) and the Information Technology Senior Management Forum (ITSMF).

About CenterPoint Energy
As the only investor-owned electric and gas utility based in Texas, CenterPoint Energy, Inc. (NYSE: CNP) is an energy delivery company with electric transmission and distribution, power generation and natural gas distribution operations that serve more than 7 million metered customers in Arkansas, Indiana, Louisiana, Minnesota, Mississippi, Ohio, Oklahoma and Texas. As of September 30, 2020, the company owned approximately $33 billion in assets and also owned 53.7 percent of the common units representing limited partner interests in Enable Midstream Partners, LP, a publicly traded master limited partnership that owns, operates and develops strategically located natural gas and crude oil infrastructure assets. With approximately 9,600 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, visit CenterPointEnergy.com.

For more information contact
Media:
John Sousa
Phone  713.619.5143
Investors:
David Mordy
Phone  713.207.6500

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/centerpoint-energy-names-kenneth-e-coleman-senior-vice-president-and-chief-information-officer-301172386.html

SOURCE CenterPoint Energy, Inc.

Posted on

Weyerhaeuser Announces Appointment of Deidra Merriwether to Board of Directors

PR Newswire

SEATTLE, Nov. 12, 2020 /PRNewswire/ — Weyerhaeuser Company (NYSE: WY) today announced the appointment of Deidra C. Merriwether, senior vice president of North American sales and services for W.W. Grainger, Inc., to the company’s board of directors. Her appointment is effective immediately and will replace a retiring board member in 2021.

“We are very pleased to welcome Dee to the Weyerhaeuser board of directors,” said Rick R. Holley, chairman of the board of directors. “Dee is a hands-on leader with a deep understanding of customers, finance and international supply chains, and she is adept at building relationships across organizations and industries. She brings exceptional leadership and experience to our board, as well as strong alignment with our core values.”

With 2019 sales of $11.5 billion, Grainger is North America’s leading broad line supplier of maintenance, repair and operating products, with operations primarily in North America, Japan and Europe. Merriwether leads the North American sales organization, which represents the largest portion of the overall Grainger business, and has full profit and loss responsibility for the company’s Latin American and Canadian businesses. Her teams support more than 1.5 million customers across the manufacturing, government and healthcare segments, with a consistent focus on strengthening relationships and empowering customers to achieve success. She joined Grainger in 2013 after more than a decade in various leadership positions with the Sears Holdings Corporation.

ABOUT WEYERHAEUSER

Weyerhaeuser Company, one of the world’s largest private owners of timberlands, began operations in 1900. We own or control approximately 11 million acres of timberlands in the U.S. and manage additional timberlands under long-term licenses in Canada. We manage these timberlands on a sustainable basis in compliance with internationally recognized forestry standards. We are also one of the largest manufacturers of wood products in America. Our company is a real estate investment trust. In 2019, we generated $6.6 billion in net sales and employed approximately 9,400 people who serve customers worldwide. We are listed on the Dow Jones Sustainability North America Index. Our common stock trades on the New York Stock Exchange under the symbol WY. Learn more at www.weyerhaeuser.com. 

For more information contact:

Analysts – Beth Baum, 206-539-3907
Media – Nancy Thompson, 919-861-0342

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/weyerhaeuser-announces-appointment-of-deidra-merriwether-to-board-of-directors-301172400.html

SOURCE Weyerhaeuser Company

Posted on

SHAREHOLDER ALERT: Rigrodsky & Long, P.A. Announces Investigation of Tengasco, Inc. Merger

WILMINGTON, Del., Nov. 12, 2020 (GLOBE NEWSWIRE) — Rigrodsky & Long, P.A. announces that it is investigating Tengasco, Inc. (“Tengasco”) (NYSE American: TGC) regarding possible breaches of fiduciary duties and other violations of law related to Tengasco’s agreement to merge with Riley Exploration – Permian, LLC (“REP”). Under the terms of the agreement, Tengasco will issue 97.796467 shares of Tengasco common stock to each shareholder of REP.

To learn more about this investigation and your rights, visit: https://www.rl-legal.com/cases-tengasco-inc.

You may also contact Seth D. Rigrodsky or Gina M. Serra cost and obligation free at (888) 969-4242 or [email protected].

Rigrodsky & Long, P.A., with offices in Delaware and New York, has recovered hundreds of millions of dollars on behalf of investors and achieved substantial corporate governance reforms in securities fraud and corporate class actions nationwide.

Attorney advertising.  Prior results do not guarantee a similar outcome.

CONTACT:         

Rigrodsky & Long, P.A.
Seth D. Rigrodsky
Gina M. Serra
(888) 969-4242 (Toll Free)
(302) 295-5310
Fax: (302) 654-7530
[email protected]
https://rl-legal.com

Posted on

T2 Biosystems to Participate in the Canaccord Genuity Virtual MedTech & Diagnostics Forum

LEXINGTON, Mass., Nov. 12, 2020 (GLOBE NEWSWIRE) — T2 Biosystems, Inc. (NASDAQ:TTOO), a leader in the rapid detection of sepsis-causing pathogens, today announced that the Company plans to participate in the upcoming Canaccord Genuity Virtual MedTech & Diagnostics Forum.

Management is scheduled to present Thursday, November 19, 2020 at 2:30pm ET. Interested parties may access a live and recorded webcast of the presentation on the “Investors” section of the Company’s website at www.t2biosystems.com.

About T2 Biosystems

T2 Biosystems, a leader in the rapid detection of sepsis-causing pathogens, is dedicated to improving patient care and reducing the cost of care by helping clinicians effectively treat patients faster than ever before. T2 Biosystems’ products include the T2Dx® Instrument, T2Candida® Panel, the T2Bacteria® Panel, the T2Resistance® Panel, and the T2SARS-CoV-2™ Panel and are powered by the proprietary T2 Magnetic Resonance (T2MR®) technology. T2 Biosystems has an active pipeline of future products, including the T2Cauris™ Panel, and T2Lyme™ Panel, as well as additional products for the detection of bacterial and fungal pathogens and associated antimicrobial resistance markers, and biothreat pathogens.

Media Contact:

Gina Kent, Vault Communications
[email protected]
610-455-2763

Investor Contact:

Philip Trip Taylor, Gilmartin Group
[email protected]
415-937-5406

Posted on

Tonix Pharmaceuticals Outlines New Statistical Method to Analyze Future PTSD Studies at the 3rd Annual Neuropsychiatric Drug Development Summit

Increasing Placebo Responses in PTSD Drug Trials Raise Questions About Current Methods of Measuring or Analyzing PTSD Symptom Change Over Time

The U.S. 21st Century Cures Act Provides Direction on New Statistical Analyses Using Simulations

Tonix Plans to Study TNX-102 SL in a New Phase 3 PTSD Trial in Kenya

CHATHAM, N.J., Nov. 12, 2020 (GLOBE NEWSWIRE) — Tonix Pharmaceuticals Holding Corp. (Nasdaq: TNXP) (Tonix or the Company), a clinical-stage biopharmaceutical company, announced today that Seth Lederman, M.D., President and Chief Executive Officer of Tonix Pharmaceuticals, outlined a new statistical method to analyze future Posttraumatic Stress Disorder (PTSD) drug studies and presented a retrospective analysis using the new method of the Phase 3 HONOR study (P301) of TNX-102 SL (cyclobenzaprine HCl sublingual tablets), for the treatment of military-related PTSD at the 3rd Annual Neuropsychiatric Drug Development Summit today.

“The paradox that confounds modern PTSD studies is that the placebo response has increased over time, even as we and others have striven to improve study methods and data quality,” said Dr. Lederman.   “In many studies, the placebo response has increased to the point where it has become very difficult for the treatment arm to be successful in a randomized placebo-controlled PTSD clinical trial. The measurements of PTSD placebo improvement in randomized clinical trials using the Clinician Administered PTSD Scale for DSM-5 (CAPS-5) are inconsistent with what is known about the natural history of PTSD. In real world settings, PTSD patients do not dramatically improve without treatment like they appear to do in randomized clinical trials. Therefore, an opportunity and need exist to improve upon the measurement of PTSD symptoms in trials or the analysis of the data from trials. The 2017 21st Century Cures Act provides direction to the U.S. Food and Drug Administration (FDA) and to sponsors that new data analyses and particularly simulations should be used to improve clinical trial design and data analysis.”

The proposed new statistical method, called Randomization Honoring Non-Parametric Combination of Tests (RHNPCOT), was applied to a retrospective analysis of the Phase 3 HONOR study and showed a nominal p-value of 0.03 compared to the p-value of the prospective primary analysis of 0.6 in TNX-102 SL’s treatment benefit at Week 12 as measured by change from baseline in the CAPS-5.

Dr. Lederman added, “The RHNPCOT statistical method addresses key goals of the 21st Century Cures Act as a potential path forward in PTSD drug development and testing. It respects the actual randomization method of the study, preserves information from the 20 distinct items of the CAPS-5, efficiently uses data, and brings the analysis of CAPS-5 more into line with the patient self-reported outcome measure, Patient Global Impression of Change (PGIC). The PGIC has particular importance because it measures how study participants themselves rate how they feel and because it is not tied to any theoretical disease construct.   We have requested that FDA consider RHNPCOT as an exploratory outcome in our completed, but still blinded Phase 3 RECOVERY (P302) PTSD study. We expect to unblind the RECOVERY study before year end. Exploratory analysis of RECOVERY by RHNPCOT will provide additional information about the utility of the method. We plan to propose RHNPCOT as a primary analysis for future PTSD studies.”

In other psychiatric conditions, the placebo response is growing faster in the U.S. than in other countries1,2. Tonix is planning a Phase 3 PTSD study of TNX-102 SL in Kenya, expected to initiate in the third quarter of 2021, and will focus on studying police. The primary site for this multi-center study is Moi University School of Medicine in Eldoret, Kenya. The study was planned and the agreements negotiated when Dr. Lukoye Atwoli was Professor and Dean at Moi University School of Medicine. Dr. Atwoli was the principal investigator of the planned study before being recently recruited to be Dean of Aga Khan University Medical College East Africa based in Nairobi, the Capital of Kenya.

Dr. Atwoli, now Professor of Psychiatry and Dean at Aga Khan University Medical College stated, “We in Kenya are very excited to be setting up the plans for a clinical trial to evaluate a treatment for PTSD in our region. This kind of research is not common in our part of the world. We believe there are opportunities to improve care in our population, but also to bolster the ability of our young researchers to carry out that kind of work. We are grateful to Tonix for supporting us and look forward to a long-term collaboration.”

Dr. Lederman stated, “PTSD knows no borders. We are impressed with the clinical trial capabilities at Moi University and several other sites in Kenya. We look forward to working with Dr. Atwoli and other experts to perform a study of TNX-102 SL on PTSD in Kenyan police.”

An archived replay of Dr. Lederman’s presentation will be available on the IR Events tab of the Investors section of the Tonix website at www.tonixpharma.com.

About
the
3

rd

Neuropsychiatric Drug Development Summit

The 3rd Annual Neuropsychiatric Drug Development Summit focuses on unravelling the complexities of developing clinically transformative neuropsychiatric drugs.   With an emphasis on depressive disorders, schizophrenia, addiction and PTSD, this meeting provides a platform for thought leaders to have open reflections and share competitive knowledge.   The meeting will put the spotlight on innovations in clinical trial design, defining better clinical endpoints and the emergence of the next generation of anti-psychotics.

About Tonix Pharmaceuticals Holding Corp.

Tonix is a clinical-stage biopharmaceutical company focused on discovering, licensing, acquiring and developing small molecules and biologics to treat and prevent human disease and alleviate suffering. Tonix’s portfolio is primarily composed of central nervous system (CNS) and immunology product candidates. The immunology portfolio includes vaccines to prevent infectious diseases and biologics to address immunosuppression, cancer and autoimmune diseases. The CNS portfolio includes both small molecules and biologics to treat pain, neurologic, psychiatric and addiction conditions. Tonix’s lead vaccine candidate, TNX-1800*, is a live replicating vaccine based on the horsepox viral vector platform to protect against COVID-19, primarily by eliciting a T cell response. Tonix expects data from animal studies of TNX-1800 in the fourth quarter of this year and the first quarter of 2021. TNX-801*, live horsepox virus vaccine for percutaneous administration, is in development to protect against smallpox and monkeypox. Tonix is also developing TNX-2300* and TNX-2600*, live replicating vaccine candidates for the prevention of COVID-19, but using bovine parainfluenza as the vector. Tonix’s lead CNS candidate, TNX-102 SL**, is in Phase 3 development for the management of fibromyalgia. The Company expects topline data in the Phase 3 RELIEF study in the fourth quarter of 2020. Tonix is also currently enrolling participants in the Phase 3 RALLY study for the management of fibromyalgia using TNX-102 SL, and the results are expected in second half of 2021. TNX-102 SL is also in development for PTSD, agitation in Alzheimer’s disease (AAD) and alcohol use disorder (AUD). The PTSD program is in Phase 3 development while AAD and AUD are Phase 2 ready. The AAD program has FDA Fast Track designation. Tonix‘s programs for treating addiction conditions also include TNX-1300* (T172R/G173Q double-mutant cocaine esterase 200 mg, i.v. solution), which is in Phase 2 development for the treatment of life-threatening cocaine intoxication and has FDA Breakthrough Therapy designation. TNX-601 CR** (tianeptine oxalate controlled-release tablets) is another CNS program, currently in Phase 1 development as a daytime treatment for depression while TNX-1900**, intranasal oxytocin, is in development as a non-addictive treatment for migraine and cranio-facial pain. Tonix’s preclinical pipeline includes TNX-1600** (triple reuptake inhibitor), a new molecular entity being developed as a treatment for PTSD; TNX-1500* (anti-CD154), a monoclonal antibody being developed to prevent and treat organ transplant rejection and autoimmune conditions; and TNX-1700* (rTFF2), a biologic being developed to treat gastric and pancreatic cancers.

1Gopalakrishnan, M et al.J Clin Psychiatry. 2020; 81(2):19r12960
2Laughren, TP J Clin Psychiatry. 2020; 81(2):19com13110

*TNX-1800, TNX-801, TNX-2300, TNX-2600, TNX-1300, TNX-1500 and TNX-1700 are investigational new biologics and have not been approved for any indication.

**TNX-102 SL, TNX-601 CR, TNX-1600 and TNX-1900 are investigational new drugs and have not been approved for any indication.

This press release and further information about Tonix can be found at www.tonixpharma.com.

Forward Looking Statements

Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words such as “anticipate,” “believe,” “forecast,” “estimate,” “expect,” and “intend,” among others. These forward-looking statements are based on Tonix’s current expectations and actual results could differ materially. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to, risks related to failure to obtain FDA clearances or approvals and noncompliance with FDA regulations; delays and uncertainties caused by the global COVID-19 pandemic; risks related to the timing and progress of clinical development of our product candidates; our need for additional financing; uncertainties of patent protection and litigation; uncertainties of government or third party payor reimbursement; limited research and development efforts and dependence upon third parties; and substantial competition. As with any pharmaceutical under development, there are significant risks in the development, regulatory approval and commercialization of new products. Tonix does not undertake an obligation to update or revise any forward-looking statement. Investors should read the risk factors set forth in the Annual Report on Form 10-K for the year ended December 31, 2019, as filed with the Securities and Exchange Commission (the “SEC”) on March 24, 2020, and periodic reports filed with the SEC on or after the date thereof. All of Tonix’s forward-looking statements are expressly qualified by all such risk factors and other cautionary statements. The information set forth herein speaks only as of the date thereof.

Jessica Morris (corporate)
Tonix Pharmaceuticals
[email protected]

(862) 904-8182

Olipriya Das, Ph.D. (media)
Russo Partners
[email protected]
(646) 942-5588

Peter Vozzo (investors)
Westwicke
[email protected]
(443) 213-0505

Posted on

Agios Announces FDA Orphan Drug Designation Granted to Mitapivat for Treatment of Sickle Cell Disease

CAMBRIDGE, Mass., Nov. 12, 2020 (GLOBE NEWSWIRE) — Agios Pharmaceuticals, Inc. (NASDAQ: AGIO), a leader in the field of cellular metabolism to treat cancer and rare genetic diseases, today announced that the U.S. Food and Drug Administration (FDA) has granted orphan drug designation to the company’s first-in-class pyruvate kinase R (PKR) activator mitapivat for the treatment of patients with sickle cell disease. Mitapivat is an investigational, oral, small molecule allosteric activator of wild-type and a variety of mutated PKR enzymes.

“Receiving orphan drug designation for mitapivat in sickle cell disease is an important recognition of the tremendous unmet need among this patient community, which has historically been underserved,” said Chris Bowden, M.D., chief medical officer at Agios. “As the pioneers in PKR activation, we believe this mechanism has the potential to transform the course of sickle cell disease and are researching mitapivat’s ability to improve red blood cell energy, health and longevity. We look forward to continued partnership with the sickle cell disease community and expect to initiate our Phase 3 study next year.”

The FDA’s Office of Orphan Drug Products grants orphan status to support the development of medicines for rare disorders that affect fewer than 200,000 people in the U.S. Orphan drug designation provides certain benefits, including market exclusivity upon regulatory approval if received, exemption of FDA application fees and tax credits for qualified clinical trials.

Mitapivat was previously granted orphan drug designation by the FDA and the European Medicines Agency for the treatment of pyruvate kinase (PK) deficiency, a rare, debilitating, hemolytic anemia, and by the FDA for the treatment of thalassemia.

Mitapivat Clinical Development

Mitapivat is being evaluated as a potential treatment for sickle cell disease under a Cooperative Research and Development Agreement (CRADA) with the U.S. National Institutes of Health. Mitapivat has been shown to decrease 2,3-diphosphoglycerate (2,3-DPG) and increase adenosine triphosphate (ATP), and through this mechanism, it may reduce hemoglobin S polymerization and red blood cell sickling. Preliminary clinical data establishing proof-of-concept for mitapivat in sickle cell disease were disclosed in June 2020, and updated data from this trial will be presented at the American Society of Hematology (ASH) Annual Meeting, which is being held virtually December 5–8, 2020. Agios expects to initiate a Phase 3, global, pivotal study of mitapivat in sickle cell disease in 2021.

In addition, Agios has two ongoing global, pivotal trials in adults with PK deficiency that are fully enrolled.

  • ACTIVATE: A placebo-controlled trial with a 1:1 randomization evaluating mitapivat in patients who do not receive regular transfusions. The primary endpoint of the trial is hemoglobin response, defined as a sustained hemoglobin increase of ≥1.5 g/dL from baseline. Agios anticipates reporting ACTIVATE topline data by the end of 2020.
  • ACTIVATE-T: A single arm trial evaluating mitapivat in patients who receive regular transfusions. The primary endpoint of the trial is the proportion of patients who achieve a reduction in transfusion burden compared to individual historical transfusion burden standardized to 24 weeks. Agios anticipates reporting topline ACTIVATE-T data in Q1 2021.

Agios is also conducting a Phase 2 study evaluating the efficacy, safety, pharmacokinetics and pharmacodynamics of treatment with mitapivat in adults with non-transfusion-dependent β- or α-thalassemia. The trial is fully enrolled, and the primary endpoint is hemoglobin response, defined as a ≥1.0 g/dL increase in Hb concentration from baseline. Agios expects to initiate a Phase 3 pivotal program evaluating mitapivat in thalassemia, including both α-and β-thalassemia, as well as transfusion dependent and non-transfusion dependent patient populations, in 2021.

Mitapivat is not approved for use by any regulatory authority.

About Agios

Agios is focused on discovering and developing novel investigational medicines to treat malignant hematology, solid tumors and rare genetic diseases through scientific leadership in the field of cellular metabolism. In addition to an active research and discovery pipeline across these three therapeutic areas, Agios has two approved oncology precision medicines and multiple first-in-class investigational therapies in clinical and/or preclinical development. For more information, please visit the company’s website at www.agios.com.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Such forward-looking statements include those regarding the potential benefits of mitapivat; Agios’ plans regarding future data presentations; and the benefit of Agios’ strategic plans and focus. The words “expects,” “anticipates,” “believes,” “intends,” “estimates,” “plans,” “will,” “outlook,” “goal”, “potential” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Such statements are subject to numerous important factors, risks and uncertainties that may cause actual events or results to differ materially from Agios’ current expectations and beliefs. For example, a positive opinion on Agios’ application for orphan drug designation for mitapivat is not a guarantee of approval. Management’s expectations and, therefore, any forward-looking statements in this press release could also be affected by risks and uncertainties relating to a number of other important factors, including: risks and uncertainties related to the impact of the COVID-19 pandemic to Agios’ 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 results of Agios’ clinical trials and preclinical studies, including subsequent analysis of existing data and new data received from ongoing and future studies; the content and timing of decisions made by regulatory authorities, investigational review boards at clinical trial sites and publication review bodies; Agios’ ability to obtain and maintain requisite regulatory approvals and to enroll patients and conduct its current and future clinical trials; unplanned cash requirements and expenditures; competitive factors; Agios’ ability to obtain, maintain and enforce patent and other intellectual property protection for any product candidates it is developing; Agios’ ability to maintain key collaborations; and general economic, market and global health conditions. These and other risks are described in greater detail under the caption “Risk Factors” included in Agios’ public filings with the Securities and Exchange Commission. Any forward-looking statements contained in this press release speak only as of the date hereof, and Agios expressly disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Contacts

Investors:

Holly Manning, 617-844-6630
Director, Investor Relations
[email protected]

Media:

Jessica Rennekamp, 857-209-3286
Associate Director, Corporate Communications
[email protected]