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Recro Pharma, Inc. ("Recro"; NASD: REPH), a contract development and manufacturing organization (CDMO) dedicated to solving complex formulation and manufacturing challenges in small molecule therapeutic development, today announced the signing of a renewable energy agreement with Georgia Power under which the company will purchase 1.2 million renewable energy credits (RECs) through Georgia Power's Simple Solar Program. The RECs purchased by Recro under this agreement support the generation of renewable electricity from low- or zero-emission resources, while also reducing the emissions associated with the company's electricity use. Today's announcement is being made in conjunction with Zero Emissions Day, which is celebrated around the world on September 21st each year.
As part of Georgia Power's Simple Solar Program, a REC is created for every megawatt-hour (MWh) of electricity that is generated and delivered to the power grid from a renewable energy source. Recro's RECs purchased contribute toward the equivalent reduction of 937,426 tons of carbon dioxide emissions and serve as a key component of the company's ongoing environmental sustainability program.
"Recro is committed to environmental sustainability through our active support of programs and initiatives which reduce our company's impact on the environment. Today's agreement with Georgia Power to support the generation of green electricity is the latest action that Recro has taken in an effort to more efficiently utilize energy, water and materials, while minimizing waste," said Erica Raether, Recro's vice president of people, culture and ESG. "We believe that today's action will have a meaningful impact as the amount of renewable electricity associated with the 1.2 million RECs purchased from Georgia Power is equivalent to the total annual electricity use of more than 100,000 homes in the U.S."
To date, Recro has already made significant strides with its robust environmental sustainability program. This program, which includes a number of employee-focused and employee-led initiatives, has resulted in milestones in offsetting its carbon emissions and minimizing its energy and water usage. For example, since its inception in 2019, the environment sustainability program has led to estimated annual savings of more than 1.3 million pounds of carbon dioxide (C02) and 300,000 gallons of water. To learn more about Recro's environment sustainability program, please visit: www.recrocdmo.com/about/sustainability/.
Posted In: REPH
