OAK RIDGE

Provident Financial Services, Inc. Receives FDIC and New Jersey Department of Banking and Insurance Approvals for its Merger with Lakeland Bancorp, Inc.

Retrieved on: 
Monday, March 25, 2024
Organization, Tier 2, Growth, Provident Bank, Insurance, FDIC, Financial services, Provident, Federal Reserve, OAK, Federal Deposit Insurance Corporation, PFS, Calendar, Security (finance)

Upon completion of the merger, the combined company will operate under the Provident name and will benefit from enhanced scale, and opportunities for growth and profitability.

Key Points: 
  • Upon completion of the merger, the combined company will operate under the Provident name and will benefit from enhanced scale, and opportunities for growth and profitability.
  • The regulatory approvals contain certain conditions and commitments, including that Provident complete a $200 million capital raise prior to completion of the merger.
  • Provident intends to satisfy this condition by raising $200 million of Tier 2 qualifying subordinated debt prior to completing the merger.
  • In connection with these approvals, Provident and Lakeland expect to agree that the combined board of directors will consist of nine directors from Provident and five directors from Lakeland.

LIS Technologies Inc. Announces Oversubscribed $1.3 Million Seed Funding Round Led by Advanced Nuclear Technology Investors to Fund the Rebirth of the Only USA-Origin Patented Laser Uranium Enrichment Technology in the World

Retrieved on: 
Monday, March 25, 2024
Uranium, Nuclear, Isotope, Oak Ridge National Laboratory, Growth, Argonne National Laboratory, Patent, White, Regulatory affairs, Indefinite, Research, University, IDIQ, MBA, Doctor of Philosophy, LIS, Chief Scientific Adviser, HALEU, Government, Fiscal, LEU

This unique laser-based method enhances energy efficiency and can be implemented at highly competitive capital and operational expenses.

Key Points: 
  • This unique laser-based method enhances energy efficiency and can be implemented at highly competitive capital and operational expenses.
  • Ambassador to Russia and distinguished research and development staff member in the Nuclear Security and Isotope Technology Division at Oak Ridge National Laboratory.
  • In late October, the White House requested $2.2 billion for domestic uranium enrichment capabilities.
  • In March, the Fiscal Year 2024 Energy and Water Development Appropriations Act passed , allocated $1.685 billion towards nuclear energy research and development.

Daxor Corporation Acquires Volumex® and Megatope® From Its Existing Supplier Along With Glofil® to Enhance Existing Suite of Diagnostics

Retrieved on: 
Monday, March 25, 2024
GFR, Commercialization, BVA, Customer experience, Iodine (125I) human albumin, Glomerular filtration rate, Blood volume, Pharmaceutical industry

Oak Ridge, TN, March 25, 2024 (GLOBE NEWSWIRE) -- Daxor Corporation (Nasdaq: DXR), the global leader in blood volume measurement technology, announces today it has entered into a definitive agreement to acquire exclusive and worldwide rights and intellectual property to manufacture from its existing supplier for Volumex and Megatope from privately-held Iso-Tex Diagnostics, Inc. Daxor has also acquired the exclusive rights to Glofil, a drug that measures glomerular filtration rate (GFR), which Iso-Tex has been selling directly to its customer base.

Key Points: 
  • Daxor projects the acquisitions to be cash flow positive and accretive to earnings immediately upon transfer of the manufacturing.
  • This is due to the embedded revenue streams of the drugs and significantly higher margins that will be achieved with internalized production.
  • No payments will come due until manufacturing is fully transitioned to Daxor over the next 6-9 months.
  • The transaction is subject to customary conditions, including receipt of applicable regulatory approvals.

Type One Energy Collaborates with TVA, ORNL on Potential Fusion Prototype at Bull Run Plant

Retrieved on: 
Wednesday, February 21, 2024
Environment, Technology, Environmental Issues, Other Technology, Alternative Energy, Green Technology, Energy, Nuclear, Science, Other Science, Engineering, TVA, General assembly, Nuclear energy, Economic development, Tennessee Valley, Oak Ridge National Laboratory, Assembly, Tennessee General Assembly, Bull Run Fossil Plant, Safety, Infinity 1, Infinity, Knoxville, Tennessee, Congress, Project Infinity, Workforce, Commissioner, Partnership, Renewable energy

In partnership with TVA and ORNL, Type One Energy will explore subsequent opportunities to further advance commercial deployment of fusion energy in the East Tennessee region.

Key Points: 
  • In partnership with TVA and ORNL, Type One Energy will explore subsequent opportunities to further advance commercial deployment of fusion energy in the East Tennessee region.
  • Infinity One will allow Type One Energy to verify important design features of its high field stellarator fusion pilot plant, particularly those related to operating efficiency, reliability, maintainability, and affordability.
  • Type One Energy will establish its headquarters in East Tennessee, creating over 300 high-paying jobs within the next five years.
  • “Our administration created the Nuclear Energy Fund in partnership with the Tennessee General Assembly to recruit companies like Type One Energy.

SELC announces 2024 Reed Environmental Writing Award winners

Retrieved on: 
Monday, February 12, 2024
Florida Power & Light, Archive, Climate, News, Culture, Manhattan Project, Alabama Power, Government, Henry Hope Reed Award, Half-life, City, Water, Public, Family, Downtown Mall, Environment, Conventional weapon, Book, NPR

CHARLOTTESVILLE, Va., Feb. 12, 2024 /PRNewswire/ -- Today the Southern Environmental Law Center (SELC) announces the recipients of its 2024 Phillip D. Reed Environmental Writing Award. Through their work, winners Emily Strasser, David Folkenflik, Mario Ariza, and Miranda Green demonstrate the power of writing to capture some of the most important environmental issues facing Southern communities.

Key Points: 
  • CHARLOTTESVILLE, Va., Feb. 12, 2024 /PRNewswire/ -- Today the Southern Environmental Law Center (SELC) announces the recipients of its 2024 Phillip D. Reed Environmental Writing Award.
  • Through their work, winners Emily Strasser, David Folkenflik, Mario Ariza, and Miranda Green demonstrate the power of writing to capture some of the most important environmental issues facing Southern communities.
  • This year the Reed Award celebrates 30 years of honoring writers who achieve both literary excellence and offer extraordinary insight into the South's natural treasures and environmental challenges.
  • The Reed Award ceremony honoring the winners during the Virginia Festival of the Book is free and open to the public.

Interstate Waste Services Announces Acquisition of Oak Ridge Waste & Recycling

Retrieved on: 
Monday, February 12, 2024
Acquisition, Collection, Equity (finance), Littlejohn, Haulage, Stifel, Culture, Growth, Littlejohn & Co., Kirkland & Ellis, Organization, ARES, Recycling, Workforce

NEW YORK, Feb. 12, 2024 /PRNewswire/ -- Interstate Waste Services, Inc. ("IWS"), a leading, vertically integrated waste-by-rail provider of solid waste collection, disposal and recycling services announced it has entered into a definitive agreement to acquire Oak Ridge Waste & Recycling ("Oak Ridge"), one of Connecticut's preeminent providers of waste collection, transfer, and recycling services in Southwestern Connecticut and Suburban New York, further expanding IWS's service footprint into the tristate area.

Key Points: 
  • NEW YORK, Feb. 12, 2024 /PRNewswire/ -- Interstate Waste Services, Inc. ("IWS"), a leading, vertically integrated waste-by-rail provider of solid waste collection, disposal and recycling services announced it has entered into a definitive agreement to acquire Oak Ridge Waste & Recycling ("Oak Ridge"), one of Connecticut's preeminent providers of waste collection, transfer, and recycling services in Southwestern Connecticut and Suburban New York, further expanding IWS's service footprint into the tristate area.
  • The acquisition comes on the heels of IWS subsidiary Action Environmental's selection as an authorized waste and recycling hauler under New York City's Commercial Waste Hauling Program, Local Law 199 .
  • "Oak Ridge has an established presence in an attractive adjacent market delivering collection and processing services through a dedicated workforce and an entrenched culture that fits exceptionally well with IWS," said Michael DiBella Chief Executive Officer of Interstate Waste Services.
  • Stifel served as financial advisor to Oak Ridge Waste & Recycling, and Whiteman Osterman & Hanna served as legal counsel.

Oak Ridge Financial Services, Inc. Announces Fourth Quarter and Full Year 2023 Results and Quarterly Cash Dividend of $0.10 per share

Retrieved on: 
Friday, February 2, 2024
Small business, Growth, SBA, Small Business Administration, Investment, OAK, Sale, Bank, Advertising, Cryptocurrency

OAK RIDGE, N.C., Feb. 02, 2024 (GLOBE NEWSWIRE) -- Oak Ridge Financial Services, Inc. (“Oak Ridge”; or the “Company”) (OTCPink: BKOR), the parent company of Bank of Oak Ridge (the “Bank”), announced unaudited financial results for the fourth quarter and full year of 2023, and a quarterly cash dividend of $0.10 per share.

Key Points: 
  • OAK RIDGE, N.C., Feb. 02, 2024 (GLOBE NEWSWIRE) -- Oak Ridge Financial Services, Inc. (“Oak Ridge”; or the “Company”) (OTCPink: BKOR), the parent company of Bank of Oak Ridge (the “Bank”), announced unaudited financial results for the fourth quarter and full year of 2023, and a quarterly cash dividend of $0.10 per share.
  • Total loans of $465.1 million at December 31, 2023, up 9.4% from $425.1 million at December 31, 2022.
  • Available-for-sale (at fair value) and held-to-maturity (at cost) securities of $110.6 million at December 31, 2023, up 20.0% from $92.1 million at December 31, 2022.
  • Finally, income from Small Business Investment Company was $209,000 for the fourth quarter of 2023, compared to $10,000 in fourth quarter of 2022.

Lakeland Bancorp Announces Quarterly and Year-End 2023 Earnings

Retrieved on: 
Thursday, January 25, 2024
FDIC, Provident, 1st Constitution Bancorp, Insurance, Ratio, Signature Bank, Sale, Investment, Acquisition, Movement, EPS, OAK, Provident Financial

I want to thank all of the Lakeland associates for their incredible contributions and unwavering customer support during this uncertain period."

Key Points: 
  • I want to thank all of the Lakeland associates for their incredible contributions and unwavering customer support during this uncertain period."
  • Net interest income for the fourth quarter of 2023 of $65.3 million decreased $16.3 million compared to the fourth quarter of 2022.
  • Gain on equity securities increased from $11,000 in fourth quarter 2022 to $391,000 in fourth quarter 2023.
  • Lakeland Bancorp remains above regulatory “well capitalized” standards, with a Tier 1 leverage ratio of 9.27% at December 31, 2023.

Zeno Power Secures Radioisotope Fuel Supply from DOE to Build Full-Scale RPSs

Retrieved on: 
Friday, January 26, 2024
Entrepreneurship, Space, DOE, Partnership, Environmental resource management, Oak Ridge National Laboratory, Recycling, NASA, OAK, Pacific Northwest National Laboratory, Orbit, RPS, Radionuclide, Moon, DOD

OAK RIDGE, Tenn., Jan. 26, 2024 /PRNewswire/ -- Zeno Power announced today that it has secured Strontium-90 (Sr-90) material from the U.S. Department of Energy (DOE) to fuel its initial full-scale radioisotope power systems (RPSs) for national security and space exploration missions.

Key Points: 
  • OAK RIDGE, Tenn., Jan. 26, 2024 /PRNewswire/ -- Zeno Power announced today that it has secured Strontium-90 (Sr-90) material from the U.S. Department of Energy (DOE) to fuel its initial full-scale radioisotope power systems (RPSs) for national security and space exploration missions.
  • RPSs are compact devices that convert heat from the decay of radioisotopes into a persistent and reliable supply of clean energy.
  • Space, the Arctic, and the seabed are increasingly strategic domains in the wake of renewed great power competition.
  • Through a new public-private partnership, Zeno Power and DOE's Oak Ridge Office of Environmental Management (OREM) will recycle a legacy Sr-90 RPS – the BUP-500 – into fuel for Zeno's RPSs.

Lakeland Bancorp Announces Date for Fourth Quarter Earnings

Retrieved on: 
Thursday, January 11, 2024
OAK

OAK RIDGE, N.J., Jan. 11, 2024 (GLOBE NEWSWIRE) -- Lakeland Bancorp, Inc. (NASDAQ: LBAI) (the “Company”) announced that it expects to report earnings for the fourth quarter ended December 31, 2023, on Thursday, January 25, 2024, at approximately 8:00 a.m.

Key Points: 
  • OAK RIDGE, N.J., Jan. 11, 2024 (GLOBE NEWSWIRE) -- Lakeland Bancorp, Inc. (NASDAQ: LBAI) (the “Company”) announced that it expects to report earnings for the fourth quarter ended December 31, 2023, on Thursday, January 25, 2024, at approximately 8:00 a.m.
  • ET.
  • A copy of the earnings release will be immediately available on its website.
  • The Company will not be hosting an earnings conference call to review the fourth quarter 2023 results.