Month: March 2023

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2023 Digital Therapeutics Alliance Inaugural Summit: DTx Industry Leaders Gather to Transform Global Healthcare

Held at the Washington D.C. Marriott at Metro Center June 7 – 9, 2023.The 3-day Summit programming will be facilitated by leaders from all facets of the DTx industry, including policymakers, manufacturers, payors, and other experts to guide innovation and equity in healthcare.

Arlington, VA, March 30, 2023 (GLOBE NEWSWIRE) — The Digital Therapeutics Alliance (DTA) is hosting its Inaugural Summit on June 7-9, 2023 at the Washington Marriott at Metro Center. Leaders from all facets of the digital therapeutics (DTx) ecosystem, including policymakers, clinicians, and payors, will join DTA members to discuss the challenges and opportunities of DTx integration into the healthcare system and identify optimized policy, reimbursement, and regulatory pathways to accelerate adoption.

The 3-day Summit programming will be facilitated by Andy Molnar, Chief Executive Officer of DTA, and feature keynote presentations, panel discussions, and interactive sessions that cover the advancement of DTx, the impact of healthcare policy, reimbursement and regulatory pathways, clinical evidence requirements, and patient access optimization.

DTA’s Chief Executive Officer, Andy Molnar states: “We are here to transform healthcare and deliver a new category of medicine to patients to improve their lives. The 2023 DTA Inaugural Summit brings together the leaders in healthcare innovation that are making these monumental changes. We are building viable frameworks with partners from Capitol Hill, the investment ecosystem, clinicians, health plans, patients, and caregivers.”

DTx products use evidence-based, clinically evaluated technologies to optimize clinical and health economic outcomes, deliver high quality therapies to underserved populations, and transform how patients understand, manage, and engage in their healthcare.

Leading into the Summit, US-focused DTA members and staff will convene in Washington D.C. to meet with congressional members and other influential parties to advocate for the Access to Prescription Digital Therapeutics Act (S. 723 and H.R. 1458).This bill seeks to create a new benefit category for digital therapeutics and ensure permanent coverage and reimbursement of DTx products by Medicare and Medicaid.

Everett Crosland, DTA board member and Chief Commercial Officer for Cognito Therapeutics, commented, “Given the rapidly evolving reimbursement environment, DTA’s 2023 Inaugural Summit offers the DTx industry an unprecedented opportunity to engage and advocate on the issues that matter most to our companies, patients, providers, and payor partners. I’m excited to speak about the emerging frameworks that are shaping our future.”

Event details and registration: 2023 DTA Inaugural Summit 

About DTA:

The Digital Therapeutics Alliance (DTA) is a global non-profit trade association of industry leaders and stakeholders with the mission of broadening the understanding, adoption, and integration of digital therapeutics into healthcare. DTA works to enable expanded access to high quality, evidence-based digital therapeutics for patients, clinicians, and payors to improve clinical and health economic outcomes. To learn more, please visit: www.dtxalliance.org and follow us on LinkedIn.

Attachment

Autumn Brennan
Digital Therapeutics Alliance
608-304-8000
abrennan@dtxalliance.org

GlobeNewswire Distribution ID 8799236

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Government to reserve 55 percent of scholarships for women

The Angolan government will reserve 55 percent of scholarships at national level for women, and channel 55 percent of funding to women for the development of scientific research, said Wednesday the Vice-President of the Republic, Esperança da Costa.

During an interview with the Public Television of Angola, in the ambit of tributes to “Março Mulher” (Women in March), Esperança da Costa highlighted the Executive’s policies aimed at empowering women, stating that they must meet the necessary requirements to access such benefits, having underlining that “it is not just a matter of numbers”.

During an interview, in which, among other issues, she clarified her role as Vice-President of the Republic, Esperança da Costa declared that the country is committed to women’s education, balanced development, gender equality and women’s empowerment.

To her the tendency, is to invest more and more in the training of women, so that they gradually reach more prominent positions in the State apparatus, “not just because they are women, but because they have the required capabilities and skills to carry out the responsibilities assigned to them”.

The Vice-President of the Republic added that the Executive is promoting the empowerment of rural women, through the granting of credit for this segment of the population, as well as to the most disadvantaged women, with the implementation of programmes such as Kwenda.

Esperança da Costa went on to say that, in addition to coordinating some councils and specialized consultation commissions of the Head of State, namely the National Multisectoral Commission for the Safeguarding of the World Cultural Heritage, the National Commission for the Fight against HIV/AIDS and Major Endemic Diseases, the National Council for Road Traffic and Road Traffic Planning, plus the National Water Council, she also monitors the ministerial departments of Education, Higher Education, Science, Technology and Innovation, and Environment.

Angola increased conservation areas for flora and fauna

Angola has increased its flora and fauna conservation area from six to twelve percent, said Vice President Esperança da Costa.

In the domain of the environment, she highlighted the National Strategy for the Conservation of Biodiversity and the National Strategy for the Creation of Natural Parks, both aimed at the conservation of the national flora and fauna.

Ms Costa stated that the country is committed to mapping its vast natural resources as well.

According to the official, the intention is to continue to implement governance, through management plans capable of, while respecting biodiversity and protecting the environment, taking advantage of Angola’s natural resources for the growth and diversification of the economy, and promoting sustainable development.

Source: Angola Press News Agency (APNA)

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New ambassadors must defend country’s interests – Head of State

The President of the Republic, João Lourenço, this Friday in Luanda recommended the new ambassadors to defend Angola´s interests, above all, in attracting foreign investment and tourists to the country.

Speaking at the inauguration ceremony of six (6) new ambassadors, João Lourenço, defended the need to safeguard the name and interests of Angola abroad in the political, commercial, tourist, cultural and economic areas.

“By investing in you, we believe that you are the right cadres to be able to fulfil this role”, expressed the Head of State, who, on the occasion, wished success to those who took office.

Agostinho de Carvalho dos Santos Van Dúnem (ambassador to the United States of America), Albino Malungo, for Zambia, Alcino dos Prazeres Izata Francisco da Conceição (Kingdom of Norway), Emílio Miguel de Carvalho Sobrinho (Serbia), Rui Orlando Ferreira de Ceita da Silva Xavier (South Africa) and Teodolinda Rosa Rodrigues Coelho (Japan), Rui Orlando Ferreira de Ceita da Silva Xavier, (South Africa) and Teodolinda Rosa Rodrigues Coelho, to the Empire of Japan, took office.

The ceremony, held in the Main Hall of the Presidential Palace, was witnessed by the Vice President of the Republic, Esperança da Costa and members of the government.

Reinforcement of cooperation

In their first statements to the press after taking office, the newly appointed ambassadors to the United States, Agostinho Van-Dúnem, and in South Africa, Rui Xavier, expressed their intention to strive for strengthening cooperation in the various sectors.

“We are going to continue the work in progress, seeking to strengthen bilateral cooperation and also identifying new areas with the US authorities”, added Agostinho Van-Dúnem.

Rui Xavier, ambassador to South Africa, highlighted the importance of cooperation with this country in the context of the Southern African Development Community (SADC) and, in general, at an international level.

Source: Angola Press News Agency (APNA)

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ICGLR Parliamentary Forum wants member states involved in Angolan initiative

The secretary general of the Parliamentary Forum of the International Conference on the Great Lakes Region (ICGLR), Onyango Kakoba, expressed this Friday in Juba, capital city of South Sudan, the need for member states to support the initiative of the Angolan President, João Lourenço, tending to the pacification of the region.

Speaking at the opening of the 13th Ordinary Session of the Plenary of the Parliamentary Forum of the ICGLR, Onyango Kakoba said that the member states of the organization should join the efforts of the Angolan President, whose objective is to achieve peace and stability in the Democratic Republic of Congo (DRC) and Central Africa Republic (CAR), in particular, as a way of guaranteeing the well-being of the populations and the development of the region.

Onyango Kakoba highlighted the fact that Angola had made itself available to send a military contingent to the DRC to secure the areas where the M23 elements were stationed and to protect the members of the Ad-Hoc Verification Mechanism, following the cease-fire between government troops and the rebels.

According to Onyango Kakoba, the end of conflicts in the region, in a peaceful way, requires the commitment of all member states, engaging in the actions promoted by President João Lourenço.

Secretary general Onyango Kakoba asked the parliaments to promote advocacy actions with the respective governments so that the initiative of the Angolan statesman reach the envisaged objectives.

On his turn, the Vice-President of South Sudan, James Wani Igga, praised the efforts of President João Lourenço, and highlighted the need for a combination of forces to achieve peace and stability in the region.

According to James Wani Igga, member states must reinforce their commitment to peace, unity and stability, which are essential for the well-being of the populations and development of the region.

James Wani Igga also called for the advocacy of regional parliaments with local governments for joint and concerted action to guarantee and achieve peace and stability.

Angola is present at the 13th Ordinary Session of the Plenary Assembly with a delegation led by the President of the National Assembly, Carolina Cerqueira.

The Angolan delegation in the event has as current matter of great impact the mediation role of President João Lourenço in the pacification of eastern DRC and the sending, in the next few days, of 500 military personnel to lead the process of quartering the M23 troops.

During the event, which runs until April 1, parliamentarians from the region have on their agenda, among other issues, an approach to the conflict in the East of the Democratic Republic of Congo (DRC), peace and security, combating terrorism, as well as natural calamities.

The Parliamentary Forum of the International Conference on the Great Lakes Region is an inter-parliamentary organization that brings together national parliaments from the 12 member states of the ICGLR, namely Angola, Burundi, Central African Republic (CAR), Congo, Kenya, Democratic Republic of Congo (DRC), Rwanda, South Sudan, Sudan, Uganda, Tanzania and Zambia.

Source: Angola Press News Agency (APNA)

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Sirius Awards: FAS wins Social Responsibility Award

The Local Development Institute “FAS” won on Thursday night, in Luanda, the Social Responsibility Award category of the 9th Sirius Awards, an event that recognizes and distinguishes companies, projects and individual personalities that excell in some fields during a year in Angola.

FAS, formerly known as the Social Support Fund, won the prize from a total of six companies, for presenting the Social Protection Strengthening Programme known as ‘Kwenda”.

Kwenda has registered more than one million vulnerable households, 700,000 of whom have already benefited from monetary transfers, as disclosed by the director general of this institute, Belarmino Jelembi.

Announcing the winner of the category during the awards gala, the First Lady of the Republic and president of the Sirius Awards jury, Ana Dias Lourenço, highlighted the geographic scope, effectiveness and credibility, as well as the commitment, budget and value addition of this programme as the main criteria that contributed to attribution of this prize to FAS.

The First Lady underlined that the analysis of the numerous applications received was particularly challenging for the jury, taking into account the high quality of the projects presented by the competitors.

According to Ana Dias Lourenço, the Social Responsibility Award was one of the most prominent categories in this edition, as it registered a greater number of competitors, with a wide range of companies operating in the most varied areas of Angolan society.

Ana Lourenço considered the list of nominees for the award as a demonstration that companies/organizations are on the right track for the preservation and development of local communities.

“Currently, social responsibility must be part of the list of strategic objectives of organizations, accepting a commitment to the values of protecting society, with the aim of repaying, in a fair way, what communities offer”, the First Lady clarified.

The category recognizes companies that run, essentially, programmes aimed at education, health, the fight against hunger and poverty, contributing to the reduction of regional asymmetries to aid the country’s development.

FAS general director, Belarmino Jelembi, on his turn, said the award received is a recognition that increasingly motivates the organization to continue working hard, with a view to achieving the set goals.

Several other companies were awarded honourable mentions, such as the commercial bank BFA, Carrinho business group (with the school food delivery programme), Sociedade Mineira de Catoca, Sonangol and Unitel (e-Health mobile health programme), who were honored with the attribution of honourable mentions.

The 9th edition of the Sirius Awards recorded a total of 34 competitors, including companies/projects, managers and entrepreneurs, distributed in eight categories.

Held under the motto ‘Distinguishing excellence, promoting the future’, the Sirius Awards was launched almost five years ago, however temporarily halted during the COVID-19 pandemic.

According to the Deloitte CEO, José Barata, the initiative has resurfaced with reinforced ambition, maintaining the purpose of distinguishing and rewarding the main organisations, personalities and projects carried out during a year in Angola.

Under Deloitte promotion, the last edition (8th) of the Sirius Awards was held in November 2018, with the participation of 55 competitors (companies, managers and entrepreneurs) that competed for ten categories that were part of the event at that time.

Source: Angola Press News Agency (APNA)

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Mozambique praises extension of Angolan military mission

The Assembly of the Republic of Mozambique congratulated the Angolan Parliament for the approval, Wednesday, of the extension of the mission of the Angolan Armed Forces (FAA), for contributing to the efforts to combat terrorism.

The National Assembly of Angola approved, by 187 votes in favour, none against and no abstentions, the extension, for another three months, of the Angolan mission in the Standby Force of the Southern Africa Development Community (SADC) to Mozambique.

The three months correspond to the period from April 10th to July 11th of the current year. The mission includes 20 military personnel, from the air projection component, material means, including an aircraft, and financial means, equivalent to one million, 174 thousand, 307 dollars.

The Mozambican position was expressed this Thursday, in Luanda, by the leader of the National Group of the Assembly of the Republic of Mozambique in the African Parliament, Aires Bonifácio Batista Ali, at the end of a courtesy meeting with the First Vice-Speaker of the National Assembly, Américo Cunonoca, which also served to assess the cooperation between these two sovereign bodies.

“This firm and clear position of the Angolan deputies is to be encouraged, welcomed and we are happy in this regard”, said in statements to the press the Mozambican parliamentarian who is on a week-long working visit to the country.

According to the deputy, the permanence of this mission contributes to the fight against terrorism, a general evil currently affecting Mozambique.

Regarding the cooperation between Angola and Mozambique in the parliamentary domain, Aires Bonifácio Batista Ali said that “it is on the right path”, but he considers that there is always room for improvement, improving and showing vitality.

Last February, the chairpersons of the parliaments of Angola, Carolina Cerqueira, and of Mozambique, Vitória Esperança Dias, met in the Angolan capital.

Source: Angola Press News Agency (APNA)

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Vista Equity Partners Completes Acquisition of Duck Creek Technologies

Boston, March 30, 2023 (GLOBE NEWSWIRE) — Duck Creek Technologies (“Duck Creek”), the intelligent solutions provider defining the future of property and casualty (P&C) and general insurance, today announced the completion of its acquisition by Vista Equity Partners (“Vista”), a leading global investment firm focused exclusively on enterprise software, data, and technology-enabled businesses, for $19.00 per share, in an all-cash transaction valued at approximately $2.6 billion.

“We are excited to commence our partnership with Vista Equity Partners and work together to advance the next generation of P&C insurance technology,” said Michael Jackowski, Chief Executive Officer of Duck Creek. “With Vista’s global network and deep sector expertise, we will be better positioned to support and accelerate the industry’s transition to the cloud while continuing to deliver a best-in-class customer experience.”

“Duck Creek is a demonstrated leader in the P&C space, delivering innovative solutions that empower carriers to be faster and more nimble in servicing the digital needs of their customers,” said Monti Saroya, Senior Managing Director and Co-Head of Vista’s Flagship Fund. “We look forward to partnering with Mike and the Duck Creek team as they continue to scale and define the future of P&C insurance technology.”

“We’re excited to welcome Duck Creek to the Vista ecosystem,” said Jeff Wilson, Managing Director at Vista. “Their commitment to excellence and innovation coupled with Vista’s experience in driving sustainable growth will take the business to new heights while delivering solutions that help carriers transform their business.”

Duck Creek has earned the right to partner with and provide its modern technology solutions to an esteemed list of leading carriers across the globe, including Berkshire Hathaway Specialty Insurance, Hollard Insurance, Northbridge Financial Corporation and Tokio Marine.

With the completion of the transaction, Duck Creek Technologies shares have ceased trading and are no longer listed on the Nasdaq Global Select Market.

J.P. Morgan acted as financial advisor to Duck Creek, and Skadden, Arps, Slate, Meagher & Flom LLP acted as legal counsel to Duck Creek.

Evercore acted as financial advisor to the Special Committee of the Duck Creek Board of Directors, and Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal counsel to the Special Committee of the Duck Creek Board of Directors.

RBC Capital Markets acted as financial advisor to Vista, and Kirkland & Ellis LLP acted as legal counsel to Vista.

About Duck Creek Technologies

Duck Creek Technologies is the intelligent solutions provider defining the future of the property and casualty (P&C) and general insurance industry. We are the platform upon which modern insurance systems are built, enabling the industry to capitalize on the power of the cloud to run agile, intelligent, and evergreen operations. Authenticity, purpose, and transparency are core to Duck Creek, and we believe insurance should be there for individuals and businesses when, where, and how they need it most. Our market-leading solutions are available on a standalone basis or as a full suite, and all are available via Duck Creek OnDemand. Visit www.duckcreek.com to learn more. Follow Duck Creek on our social channels for the latest information – LinkedIn and Twitter.

About Vista Equity Partners

Vista is a leading global investment firm with more than $95 billion in assets under management as of September 30, 2022. The firm exclusively invests in enterprise software, data and technology-enabled organizations across private equity, permanent capital, credit and public equity strategies, bringing an approach that prioritizes creating enduring market value for the benefit of its global ecosystem of investors, companies, customers and employees. Vista’s investments are anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions and proven, flexible management techniques that drive sustainable growth. Vista believes the transformative power of technology is the key to an even better future – a healthier planet, a smarter economy, a diverse and inclusive community and a broader path to prosperity. Further information is available at vistaequitypartners.com. Follow Vista on LinkedIn, @Vista Equity Partners, and on Twitter, @Vista_Equity.

Carley Bunch
Duck Creek Technologies
+1 (201) 962-6091
carley.bunch@duckcreek.com

GlobeNewswire Distribution ID 8798688

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Moderna Finalizes Agreement with the Government of the Republic of Kenya to Establish an mRNA Manufacturing Facility

Facility to enable access to manufactured mRNA vaccines for Kenya and the African continent, providing health security and building upon Moderna’s global public health commitments

The facility will be capable of producing up to 500 million doses each year

CAMBRIDGE, MA & NAIROBI, KENYA/ ACCESSWIRE / March 30, 2023 / Moderna, Inc. (NASDAQ:MRNA), a biotechnology company pioneering messenger RNA (mRNA) therapeutics and vaccines, and the Government of the Republic of Kenya have finalized an agreement to establish an mRNA manufacturing facility in the Republic of Kenya. This will be the Company’s first mRNA manufacturing facility in Africa.

In partnership with the Government of the Republic of Kenya, Moderna will build a state-of-the-art mRNA facility in Kenya to produce up to 500 million doses of vaccines each year. The Company expects the new facility to enable drug substance and drug product manufacturing for Kenya and the African continent. In addition, this facility will have surge capacity to rapidly scale and respond to public health emergencies on the continent and around the world.

“The finalization of our agreement with the Government of the Republic of Kenya is a key pillar of our global public health strategy, where we hope to bring mRNA innovation to the people of Africa in areas of high unmet need, such as acute respiratory infections, as well as persistent infectious diseases like HIV and outbreak threats such as Zika and Ebola,” said Stéphane Bancel, Chief Executive Officer of Moderna. “This also demonstrates our confidence in the investment climate in Kenya and the importance of utilizing mRNA technology to build resilience in healthcare security in Africa. We are also grateful for the leadership of the U.S. Ambassador to Kenya, Meg Whitman, and Samantha Power, in her role as Administrator of the United States Agency for International Development for their instrumental support of this project.”

“We are excited about this milestone that brings to bear our efforts as Government to sustain our economic model of facilitating investments that serve not only Kenya but the African continent. My Government commits to supporting this investment as a critical signal to the investment community that Kenya is open for business,” said President William Ruto.

“This investment creates the momentum to meet the $10 billion annual target under the Government’s manufacturing 20 by 30 vision, where we plan to grow the contribution of manufacturing to GDP to 20% by the year 2030 from the current 7%,” said Kenya’s Cabinet Secretary for Investments, Trade, and Industry Hon. Moses Kuria.

The Government of Kenya has championed an accelerated investment agenda to grow foreign direct investment levels from the current levels of $448 million annually to $10 billion annually, making the country’s goal the continent’s most ambitious agenda to attract investments as an enabler to job creation. Moderna’s investment signifies confidence in the business environment in Kenya and readiness to support foreign and local investment in the healthcare sector, as well as Moderna’s ongoing commitment to global public health. Moderna will operate under a Special Economic Zone (SEZ) status, signifying Kenya’s increasing focus on the SEZ program as a key enabler of economic growth.

With this agreement, Moderna has commitments to establish mRNA manufacturing facilities in Kenya, the United States, Canada, Australia, and the United Kingdom, furthering health security around the world. Moderna has spent more than a decade refining its mRNA platform to accelerate the pace and success of mRNA medicines. The speed, scale, and flexibility of Moderna’s mRNA platform is uniquely suited for rapid response to serious international epidemics, commonly referred to as Disease X.[i]

Moderna is committed to advancing into clinical studies a portfolio of 15 vaccine programs targeting emerging or neglected infectious diseases by 2025, advancing vaccines that address current diseases of significant impact to low- and middle-income countries, and those that prepare for Disease X. Moderna will prioritize development efforts against pathogens identified as persistent global health threats, including HIV, tuberculosis (TB) and malaria, neglected tropical diseases and the priority pathogens of the World Health Organization and the Coalition for Epidemic Preparedness Innovations. Learn more at https://www.modernatx.com/responsibility/our-commitment.

About Moderna

In over 10 years since its inception, Moderna has transformed from a research-stage company advancing programs in the field of messenger RNA (mRNA), to an enterprise with a diverse clinical portfolio of vaccines and therapeutics across seven modalities, a broad intellectual property portfolio, and integrated manufacturing facilities that allow for rapid clinical and commercial production at scale. Moderna maintains alliances with a broad range of domestic and overseas government and commercial collaborators, which has allowed for the pursuit of both groundbreaking science and rapid scaling of manufacturing. Most recently, Moderna’s capabilities have come together to allow the authorized use and approval of one of the earliest and most effective vaccines against the COVID pandemic.

Moderna’s mRNA platform builds on continuous advances in basic and applied mRNA science, delivery technology, and manufacturing, and has allowed the development of therapeutics and vaccines for infectious diseases, immuno-oncology, rare diseases, cardiovascular diseases, and auto-immune diseases. Moderna has been named a top biopharmaceutical employer by Science for the past eight years. To learn more, visit www.modernatx.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including statements regarding: the Company’s plans to build an mRNA manufacturing facility in Kenya; the anticipated capacity and output for that facility; the ability of the facility to respond to public health emergencies; Moderna’s aspiration to develop treatments or vaccines against HIV, Zika, Ebola, and other public health pathogens; the ability of Moderna’s mRNA platform to respond to future epidemics; foreign investment in the health sector in Kenya; the advantages of doing business in a Kenyan Special Economic Zone; and Moderna’s plans to establish manufacturing facilities in the United State, Canada, United Kingdom, and Australia. In some cases, forward-looking statements can be identified by terminology such as “will,” “may,” “should,” “could,” “expects,” “intends,” “plans,” “aims,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” “continue,” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. The forward-looking statements in this press release are neither promises nor guarantees, and you should not place undue reliance on these forward-looking statements because they involve known and unknown risks, uncertainties, and other factors, many of which are beyond Moderna’s control and which could cause actual results to differ materially from those expressed or implied by these forward-looking statements. These risks, uncertainties, and other factors include, among others, those risks and uncertainties described under the heading “Risk Factors” in Moderna’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022 and in subsequent filings made by Moderna with the U.S. Securities and Exchange Commission (SEC), which are available on the SEC’s website at www.sec.gov. Except as required by law, Moderna disclaims any intention or responsibility for updating or revising any forward-looking statements contained in this press release in the event of new information, future developments or otherwise. These forward-looking statements are based on Moderna’s current expectations and speak only as of the date of this press release.

Moderna Contacts:

Media:

Luke Mircea Willats
Senior Director, Corporate Communications
Luke.Mirceawillats@modernatx.com

Investors:

Lavina Talukdar
Senior Vice President & Head of Investor Relations
617-209-5834
Lavina.Talukdar@modernatx.com

[i] “Disease X” was named by the WHO to represent the knowledge that a serious international epidemic could be caused by a pathogen currently unknown to cause human disease. https://www.who.int/activities/prioritizing-diseases-for-research-and-development-in-emergency-contexts

SOURCE: Moderna, Inc.

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Hitachi Energy and Petrofac secure landmark offshore wind agreement worth approximately 13 billion euros

Largest framework agreement in Hitachi Energy company history, enabling long-term capacity expansion to accelerate the energy transition.Complementary technologies and expertise support TenneT’s offshore wind capacity expansion in the German and Dutch sectors of the North Sea.

Zurich, Switzerland, March 30, 2023 (GLOBE NEWSWIRE) — Hitachi Energy, a global technology leader that is advancing a sustainable energy future for all, and Petrofac, a leading international service provider to the energy industry, have been selected by TenneT, the Dutch-German transmission system operator, to supply multiple offshore and onshore HVDC converter stations and associated infrastructure to accelerate the integration of bulk renewables into European power grids.

Hitachi Energy and Petrofac were awarded the multi-year framework agreement as part of TenneT’s ambitious offshore wind “2GW Program”1, based on high-voltage direct current (HVDC) technology pioneered by Hitachi Energy.

The agreement includes an initial commitment to deploy six record-breaking renewable integration systems, five of which will connect offshore wind farms to the Dutch grid and the sixth to the German grid. Each of these connection systems has a capacity of 2 gigawatts (GW) and a voltage level of 525 kilovolts (kV) – a world-first for offshore wind.

This landmark framework agreement is the largest ever for Hitachi Energy. It confirms the opportunity to innovate how state-of-the-art technology can be deployed effectively and how new business models enable the scale needed for the green energy transition. The framework agreement approach allows Hitachi Energy and Petrofac to plan in advance and increase their workforce and manufacturing capacity timely as well as train people to have the skills needed in the industry while also capturing synergies between successive projects to meet the in-service dates.

Hitachi Energy will supply its HVDC Light® converter stations, which convert AC to DC power offshore and DC to AC onshore. Petrofac will undertake the engineering, procurement, construction and installation (EPCI) of the offshore platforms and elements of the onshore converter stations.

The first contract under the framework, for the Ijmuiden Ver Alpha project, was awarded with immediate effect. The second, Nederwiek 1, is expected to be awarded later in the year. The framework also includes projects Doordewind 1, Doordewind 2, Nederwiek 3 and LanWin5, expected to be awarded over a 2024-2026 timeframe.

“This innovative business model will set the course for the integration of a huge amount of offshore wind power and gives visibility of the future.  In fact, we are already hiring to expand our global delivery capacity and effectively fulfill these and other orders,” said Niklas Persson, Managing Director at Hitachi Energy’s Grid Integration business. “We’re proud to be part of this journey and, along with our partner Petrofac, we are setting the benchmark for deploying offshore HVDC technology at scale and with speed.”

“Today’s announcement represents an exciting next step in Petrofac and Hitachi Energy’s collaboration. We have already secured key resource and the yard capacity required to expedite the first two projects in TenneT’s ground-breaking program,” said Sami Iskander, Petrofac’s Group Chief Executive. “By combining Petrofac’s industry-leading EPCI expertise and Hitachi Energy’s well proven technology, we look forward to supporting TenneT to connect larger, more effective wind farms to deliver affordable clean energy for millions of European homes.”

“TenneT has the technical know-how, scale, and geographical position to connect wind energy from the North Sea. This is one of the most important infrastructure projects of the century; the green transformation of the energy system is key for the decarbonisation of industry,” said Tim Meyerjürgens, COO of TenneT. “Together with our market partners, we are very proud to have achieved another important milestone. Together we secure decisive acceleration of the offshore grid development and set the course for the future European energy landscape.”

“The new long-term approach goes hand in hand with a fundamental change in values towards a strong partnership. This approach enables both sides with more flexibility, technological progress, and planning security,” said Marco Kuijpers, Director Large Projects Offshore of TenneT.  This benefits all parties and secures employment, growth, and the strengthening of supply chains. We can already see that our partners invest in extra resources and facilities.”

Hitachi Energy and Petrofac began working together in June 2022, to provide joint grid integration and associated infrastructure solutions to support TenneT’s 2GW Program.2

In the same year, Germany, the Netherlands, Denmark and Belgium agreed to install at least 65 gigawatts of offshore wind energy combined by 2030 announced with the inter-governmental Esbjerg Declaration.3 At 40 gigawatts, almost two-thirds of this capacity is accounted for by TenneT, with 20 gigawatts each in the German and Dutch North Sea sectors.

1 TenneT’s 2GW Program
2 Hitachi Energy and Petrofac to collaborate in growing offshore wind market
3 The Esbjerg Declaration

HVDC website:
https://www.hitachienergy.com/offering/product-and-system/hvdc

About Hitachi Energy Ltd.
Hitachi Energy is a global technology leader that is advancing a sustainable energy future for all. We serve customers in the utility, industry and infrastructure sectors with innovative solutions and services across the value chain. Together with customers and partners, we pioneer technologies and enable the digital transformation required to accelerate the energy transition towards a carbon-neutral future. We are advancing the world’s energy system to become more sustainable, flexible and secure whilst balancing social, environmental and economic value. Hitachi Energy has a proven track record and unparalleled installed base in more than 140 countries. Headquartered in Switzerland, we employ around 40,000 people in 90 countries and generate business volumes of approximately $10 billion USD.
https://www.hitachienergy.com
https://www.linkedin.com/company/hitachienergy
https://twitter.com/HitachiEnergy

About Hitachi, Ltd.
Hitachi drives Social Innovation Business, creating a sustainable society with data and technology. We will solve customers’ and society’s challenges with Lumada solutions leveraging IT, OT (Operational Technology) and products, under the business structure of Digital Systems & Services, Green Energy & Mobility, Connective Industries and Automotive Systems. Driven by green, digital, and innovation, we aim for growth through collaboration with our customers. The company’s consolidated revenues for fiscal year 2021 (ended March 31, 2022) totaled 10,264.6 billion yen ($84,136 million USD), with 853 consolidated subsidiaries and approximately 370,000 employees worldwide. For more information on Hitachi, please visit the company’s website at https://www.hitachi.com.

About Petrofac
Petrofac is a leading international service provider to the energy industry, with a diverse client portfolio including many of the world’s leading energy companies.

Petrofac designs, builds, manages and maintains oil, gas, refining, petrochemicals and renewable energy infrastructure. Our purpose is to enable our clients to meet the world’s evolving energy needs. Our four values – driven, agile, respectful and open – are at the heart of everything we do.

Petrofac’s core markets are in the Middle East and North Africa (MENA) region and the UK North Sea, where we have built a long and successful track record of safe, reliable and innovative execution, underpinned by a cost effective and local delivery model with a strong focus on in-country value. We operate in several other significant markets, including India, Southeast Asia and the United States. We have 8,000 employees based across 31 offices globally.

Petrofac is quoted on the London Stock Exchange (symbol: PFC). For additional information, please refer to the Petrofac website at www.petrofac.com

Media contacts:
Jocelyn Chang
Global Head of Public Relations & Content Strategy
Hitachi Energy
jocelyn.chang@hitachienergy.com

Sophie Reid
Group Head of Communications
Petrofac
sophie.reid@petrofac.com

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Jocelyn Chang
Hitachi Energy
jocelyn.chang@hitachienergy.com

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