Latest news with #TRS
Yahoo
6 days ago
- Business
- Yahoo
Newron Begins Enrollment in Pivotal Phase III ENIGMA-TRS Program With Evenamide as Add-on Therapy in Patients With Treatment-Resistant Schizophrenia (TRS)
Ad hoc announcement pursuant to Art. 53 LR ENIGMA-TRS 1 is an international, one-year, double-blind, placebo-controlled Phase III study in at least 600 patients; 12-week study results expected in Q4 2026 Evenamide, a first-in-class glutamate modulator, has the potential to be the first add-on therapy for TRS patients and for poorly responding patients with schizophrenia Unique glutamatergic modulation mechanism of action offers new therapeutic option for this patient population MILAN & MORRISTOWN, N.J., August 12, 2025--(BUSINESS WIRE)--Newron Pharmaceuticals S.p.A. ("Newron") (SIX: NWRN, XETRA: NP5), a biopharmaceutical company focused on the development of novel therapies for patients with diseases of the central and peripheral nervous system, today announced that following the completion of a 42 day-screening period and the review of the patients by the Independent Eligibility Committee, it has successfully randomized the first patients in its pivotal ENIGMA-TRS 1 Phase III development program. ENIGMA-TRS 1 will evaluate evenamide as an add-on therapy to current antipsychotics, including clozapine, in patients with treatment-resistant schizophrenia (TRS). "Today's announcement marks an important milestone for the clinical advancement of evenamide for treatment-resistant schizophrenia patients who urgently need more effective therapeutic options," said Ravi Anand, CMO, Newron Pharmaceuticals. "We look forward to advancing evenamide through this pivotal Phase III study and delivering an important benefit to patients in need." ENIGMA-TRS 1 is an international, 52-week, randomized, double-blind, placebo-controlled Phase III study evaluating the efficacy, tolerability, and safety of the 15mg BID and 30mg BID therapeutic doses of evenamide compared to placebo. Patients on second-generation antipsychotics (SGAs), including clozapine, need to meet Treatment Response and Resistance Psychosis (TRRIP) international consensus criteria for TRS. ENIGMA-TRS 1 will enroll at least 600 patients at study centers in Europe, Asia, Latin America and Canada. Prior to randomization, patients undergo a 42-day screening period, during which their TRS diagnosis, antipsychotic plasma levels (background medication), and conformance to protocol selection criteria will be evaluated by an Independent Eligibility Assessment Committee (IEAC) of three leading international schizophrenia experts. The primary assessment of efficacy and safety will be performed 12 weeks after randomization to treatment. The study will continue double-blind and placebo-controlled until the 52-week time point. The 12-week results from the study are expected in Q4 2026. Results from previous Phase II (study 014/015) and Phase III (study 008A) studies have demonstrated evenamide's significant and increasing efficacy as an add-on therapy on multiple measures of psychopathology in patients with TRS and inadequate responders, respectively. These results also confirmed a favorable safety and tolerability profile, adding to the growing evidence that evenamide's glutamatergic inhibition mechanism of action offers an innovative therapeutic option to schizophrenia patients who are not benefiting from current antipsychotic treatments. ENIGMA-TRS 2, the second study of Newron's pivotal Phase III ENIGMA-TRS program, has been approved by the US Food and Drug Administration (FDA), and will be performed at centers in the US and selected additional countries. It will include at least 400 patients in a 12-week, randomized, double-blind, placebo-controlled Phase III study, designed to evaluate the efficacy, tolerability, and safety of the 15mg BID dose of evenamide. Patients will meet selection criteria and be reviewed by the above-mentioned IEAC. The analysis for determination of efficacy and safety will be performed after patients complete 12 weeks of participation in the trial. US investigational centers are expected to initiate the study by October 2025. About schizophrenia Approximately 25 million people worldwide are affected by schizophrenia. Despite more than 60 different types of atypical and typical antipsychotics used to treat schizophrenia globally, a considerable number of patients remain severely ill or resistant to treatment. Overall, 30-50% of patients do not respond to the available medications and are defined as treatment resistant. In addition to the patients with treatment-resistant schizophrenia (TRS), another 20-30% are described as "poor responders to antipsychotic medication", even if not meeting the criteria for TRS. New findings indicate that patients with TRS have abnormalities in the glutamatergic system, but not in dopaminergic transmission, so there is a significant unmet medical need for treatments with a glutamatergic mechanism of action, efficacious both in TRS patients and in those who are poor responders to the current treatments. About evenamide Evenamide is the first new chemical entity that has demonstrated significant benefits in this difficult-to-treat patient population, as seen in the potentially pivotal Phase III study 008A trial, as an add-on treatment to second generation antipsychotics including clozapine, in 291 poorly responding patients with chronic schizophrenia. The primary endpoint, the Positive and Negative Syndrome Scale (PANSS)1, and the key secondary endpoint, the Clinical Global Impressions Scale – Severity (CGI-S), were met and showed statistical significance compared to placebo. Importantly, evenamide treatment was associated with statistically significant increases in the proportion of patients who experienced "clinically meaningful benefit" on the outcome variables. Evenamide was extremely well tolerated, without any of the usual side effects of available antipsychotics. About Newron Pharmaceuticals Newron (SIX: NWRN, XETRA: NP5) is a biopharmaceutical company focused on developing novel therapies for patients with diseases of the central and peripheral nervous system. Headquartered in Bresso, near Milan, Italy, Newron is advancing its lead compound, evenamide, a first-in-class glutamate modulator, which has the potential to be the first add-on therapy for treatment-resistant schizophrenia (TRS) and for poorly responding patients with schizophrenia. Evenamide is currently in Phase III development and clinical trial results to date demonstrate the benefits of this drug candidate in the TRS patient population, with significant improvements across key efficacy measures increasing over time, as well as a favourable safety profile, which is uncommon for available antipsychotic medications. Newron has signed development and commercialization agreements for evenamide with EA Pharma (a subsidiary of Eisai) for Japan and other Asian territories, as well as Myung In Pharm for South Korea. Newron has a proven track record in bringing CNS therapies to market. Its Parkinson's disease treatment, Xadago® (safinamide), is approved in over 20 markets, including the USA, UK, EU, Switzerland, and Japan, and commercialized in partnerships with Zambon and Meiji Seika. For more information, please visit: Important Notices This document contains forward-looking statements, including (without limitation) about (1) Newron's ability to develop and expand its business, successfully complete development of its current product candidates, the timing of commencement of various clinical trials and receipt of data and current and future collaborations for the development and commercialization of its product candidates, (2) the market for drugs to treat CNS diseases and pain conditions, (3) Newron's financial resources, and (4) assumptions underlying any such statements. In some cases, these statements and assumptions can be identified by the fact that they use words such as "will", "anticipate", "estimate", "expect", "project", "intend", "plan", "believe", "target", and other words and terms of similar meaning. All statements, other than historical facts, contained herein regarding Newron's strategy, goals, plans, future financial position, projected revenues and costs and prospects are forward-looking statements. By their very nature, such statements and assumptions involve inherent risks and uncertainties, both general and specific, and risks exist that predictions, forecasts, projections and other outcomes described, assumed or implied therein will not be achieved. Future events and actual results could differ materially from those set out in, contemplated by or underlying the forward-looking statements due to a number of important factors. These factors include (without limitation) (1) uncertainties in the discovery, development or marketing of products, including without limitation difficulties in enrolling clinical trials, negative results of clinical trials or research projects or unexpected side effects, (2) delay or inability in obtaining regulatory approvals or bringing products to market, (3) future market acceptance of products, (4) loss of or inability to obtain adequate protection for intellectual property rights, (5) inability to raise additional funds, (6) success of existing and entry into future collaborations and licensing agreements, (7) litigation, (8) loss of key executive or other employees, (9) adverse publicity and news coverage, and (10) competition, regulatory, legislative and judicial developments or changes in market and/or overall economic conditions. Newron may not actually achieve the plans, intentions or expectations disclosed in forward-looking statements and assumptions underlying any such statements may prove wrong. Investors should therefore not place undue reliance on them. There can be no assurance that actual results of Newron's research programs, development activities, commercialization plans, collaborations and operations will not differ materially from the expectations set out in such forward-looking statements or underlying assumptions. Newron does not undertake any obligation to publicly update or revise forward-looking statements except as may be required by applicable regulations of the SIX Swiss Exchange or the Dusseldorf Stock Exchange where the shares of Newron are listed. This document does not contain or constitute an offer or invitation to purchase or subscribe for any securities of Newron and no part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever. 1 Positive and Negative Syndrome Scale (PANSS) is widely used in clinical trials of schizophrenia and is considered the "gold standard" for assessment of antipsychotic treatment efficacy (Innvo Clin Neurosci, 2017: View source version on Contacts For more information, please contact: Newron Stefan Weber – CEO; +39 02 6103 46 26, pr@ UK/Europe Simon Conway / Ciara Martin / Natalie Garland-Collins, FTI Consulting; +44 20 3727 1000, SCnewron@ Switzerland Valentin Handschin, IRF; +41 43 244 81 54, handschin@ Germany/Europe Anne Hennecke / Maximilian Schur, MC Services; +49 211 52925227, newron@ USA Paul Sagan, LaVoieHealthScience; +1 617 865 0041, psagan@ Sign in to access your portfolio
Business Wire
6 days ago
- Business
- Business Wire
Newron Begins Enrollment in Pivotal Phase III
MILAN & MORRISTOWN, N.J.--(BUSINESS WIRE)--Newron Pharmaceuticals S.p.A. ('Newron') (SIX: NWRN, XETRA: NP5), a biopharmaceutical company focused on the development of novel therapies for patients with diseases of the central and peripheral nervous system, today announced that following the completion of a 42 day-screening period and the review of the patients by the Independent Eligibility Committee, it has successfully randomized the first patients in its pivotal ENIGMA-TRS 1 Phase III development program. ENIGMA-TRS 1 will evaluate evenamide as an add-on therapy to current antipsychotics, including clozapine, in patients with treatment-resistant schizophrenia (TRS). Today's announcement marks an important milestone for the clinical advancement of evenamide for treatment-resistant schizophrenia patients who urgently need more effective therapeutic options. Share 'Today's announcement marks an important milestone for the clinical advancement of evenamide for treatment-resistant schizophrenia patients who urgently need more effective therapeutic options,' said Ravi Anand, CMO, Newron Pharmaceuticals. 'We look forward to advancing evenamide through this pivotal Phase III study and delivering an important benefit to patients in need.' ENIGMA-TRS 1 is an international, 52-week, randomized, double-blind, placebo-controlled Phase III study evaluating the efficacy, tolerability, and safety of the 15mg BID and 30mg BID therapeutic doses of evenamide compared to placebo. Patients on second-generation antipsychotics (SGAs), including clozapine, need to meet Treatment Response and Resistance Psychosis (TRRIP) international consensus criteria for TRS. ENIGMA-TRS 1 will enroll at least 600 patients at study centers in Europe, Asia, Latin America and Canada. Prior to randomization, patients undergo a 42-day screening period, during which their TRS diagnosis, antipsychotic plasma levels (background medication), and conformance to protocol selection criteria will be evaluated by an Independent Eligibility Assessment Committee (IEAC) of three leading international schizophrenia experts. The primary assessment of efficacy and safety will be performed 12 weeks after randomization to treatment. The study will continue double-blind and placebo-controlled until the 52-week time point. The 12-week results from the study are expected in Q4 2026. Results from previous Phase II (study 014/015) and Phase III (study 008A) studies have demonstrated evenamide's significant and increasing efficacy as an add-on therapy on multiple measures of psychopathology in patients with TRS and inadequate responders, respectively. These results also confirmed a favorable safety and tolerability profile, adding to the growing evidence that evenamide's glutamatergic inhibition mechanism of action offers an innovative therapeutic option to schizophrenia patients who are not benefiting from current antipsychotic treatments. ENIGMA-TRS 2, the second study of Newron's pivotal Phase III ENIGMA-TRS program, has been approved by the US Food and Drug Administration (FDA), and will be performed at centers in the US and selected additional countries. It will include at least 400 patients in a 12-week, randomized, double-blind, placebo-controlled Phase III study, designed to evaluate the efficacy, tolerability, and safety of the 15mg BID dose of evenamide. Patients will meet selection criteria and be reviewed by the above-mentioned IEAC. The analysis for determination of efficacy and safety will be performed after patients complete 12 weeks of participation in the trial. US investigational centers are expected to initiate the study by October 2025. About schizophrenia Approximately 25 million people worldwide are affected by schizophrenia. Despite more than 60 different types of atypical and typical antipsychotics used to treat schizophrenia globally, a considerable number of patients remain severely ill or resistant to treatment. Overall, 30-50% of patients do not respond to the available medications and are defined as treatment resistant. In addition to the patients with treatment-resistant schizophrenia (TRS), another 20-30% are described as 'poor responders to antipsychotic medication', even if not meeting the criteria for TRS. New findings indicate that patients with TRS have abnormalities in the glutamatergic system, but not in dopaminergic transmission, so there is a significant unmet medical need for treatments with a glutamatergic mechanism of action, efficacious both in TRS patients and in those who are poor responders to the current treatments. About evenamide Evenamide is the first new chemical entity that has demonstrated significant benefits in this difficult-to-treat patient population, as seen in the potentially pivotal Phase III study 008A trial, as an add-on treatment to second generation antipsychotics including clozapine, in 291 poorly responding patients with chronic schizophrenia. The primary endpoint, the Positive and Negative Syndrome Scale (PANSS) 1, and the key secondary endpoint, the Clinical Global Impressions Scale – Severity (CGI-S), were met and showed statistical significance compared to placebo. Importantly, evenamide treatment was associated with statistically significant increases in the proportion of patients who experienced 'clinically meaningful benefit' on the outcome variables. Evenamide was extremely well tolerated, without any of the usual side effects of available antipsychotics. About Newron Pharmaceuticals Newron (SIX: NWRN, XETRA: NP5) is a biopharmaceutical company focused on developing novel therapies for patients with diseases of the central and peripheral nervous system. Headquartered in Bresso, near Milan, Italy, Newron is advancing its lead compound, evenamide, a first-in-class glutamate modulator, which has the potential to be the first add-on therapy for treatment-resistant schizophrenia (TRS) and for poorly responding patients with schizophrenia. Evenamide is currently in Phase III development and clinical trial results to date demonstrate the benefits of this drug candidate in the TRS patient population, with significant improvements across key efficacy measures increasing over time, as well as a favourable safety profile, which is uncommon for available antipsychotic medications. Newron has signed development and commercialization agreements for evenamide with EA Pharma (a subsidiary of Eisai) for Japan and other Asian territories, as well as Myung In Pharm for South Korea. Newron has a proven track record in bringing CNS therapies to market. Its Parkinson's disease treatment, Xadago® (safinamide), is approved in over 20 markets, including the USA, UK, EU, Switzerland, and Japan, and commercialized in partnerships with Zambon and Meiji Seika. For more information, please visit: Important Notices This document contains forward-looking statements, including (without limitation) about (1) Newron's ability to develop and expand its business, successfully complete development of its current product candidates, the timing of commencement of various clinical trials and receipt of data and current and future collaborations for the development and commercialization of its product candidates, (2) the market for drugs to treat CNS diseases and pain conditions, (3) Newron's financial resources, and (4) assumptions underlying any such statements. In some cases, these statements and assumptions can be identified by the fact that they use words such as 'will', 'anticipate', 'estimate', 'expect', 'project', 'intend', 'plan', 'believe', 'target', and other words and terms of similar meaning. All statements, other than historical facts, contained herein regarding Newron's strategy, goals, plans, future financial position, projected revenues and costs and prospects are forward-looking statements. By their very nature, such statements and assumptions involve inherent risks and uncertainties, both general and specific, and risks exist that predictions, forecasts, projections and other outcomes described, assumed or implied therein will not be achieved. Future events and actual results could differ materially from those set out in, contemplated by or underlying the forward-looking statements due to a number of important factors. These factors include (without limitation) (1) uncertainties in the discovery, development or marketing of products, including without limitation difficulties in enrolling clinical trials, negative results of clinical trials or research projects or unexpected side effects, (2) delay or inability in obtaining regulatory approvals or bringing products to market, (3) future market acceptance of products, (4) loss of or inability to obtain adequate protection for intellectual property rights, (5) inability to raise additional funds, (6) success of existing and entry into future collaborations and licensing agreements, (7) litigation, (8) loss of key executive or other employees, (9) adverse publicity and news coverage, and (10) competition, regulatory, legislative and judicial developments or changes in market and/or overall economic conditions. Newron may not actually achieve the plans, intentions or expectations disclosed in forward-looking statements and assumptions underlying any such statements may prove wrong. Investors should therefore not place undue reliance on them. There can be no assurance that actual results of Newron's research programs, development activities, commercialization plans, collaborations and operations will not differ materially from the expectations set out in such forward-looking statements or underlying assumptions. Newron does not undertake any obligation to publicly update or revise forward-looking statements except as may be required by applicable regulations of the SIX Swiss Exchange or the Dusseldorf Stock Exchange where the shares of Newron are listed. This document does not contain or constitute an offer or invitation to purchase or subscribe for any securities of Newron and no part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever. 1 Positive and Negative Syndrome Scale (PANSS) is widely used in clinical trials of schizophrenia and is considered the 'gold standard' for assessment of antipsychotic treatment efficacy (Innvo Clin Neurosci, 2017:
The Hindu
10-08-2025
- Politics
- The Hindu
Telangana Deputy CM lays foundation stone for ₹600-crore. Jawahar Lift Irrigation Scheme in Khammam district
Telangana Deputy Chief Minister Mallu Bhatti Vikramarka has urged Andhra Pradesh Chief Minister N. Chandrababu Naidu to immediately stop the diversion of 11 tmc ft of water a day through the Pothireddypadu lift system from the upper part of Srisailam reservoir. If 11 tmc ft of water is diverted daily, farmers of the erstwhile Nalgonda and Khammam districts in Telangana will suffer severe losses and the Srisailam Project will be emptied in just 25 days, he pointed out. was addressing a public meeting after laying the foundation stone for the Jawahar Lift Irrigation Scheme at an estimated cost of around ₹600 crore at Vangaveedu village in Madhira mandal of Khammam district on Sunday. Ministers N. Uttam Kumar Reddy, Ponguleti Srinivas Reddy, Vakiti Srihari and Komatireddy Venkat Reddy were present. Unequivocally opposing Andhra Pradesh government's proposed Banakacherla project, he expressed his gratitude to Chief Minister A. Revanth Reddy and Irrigation Minister N. Uttam Kumar Reddy for standing firm on ensuring that the Banakacherla and the Srisailam lift operations are halted. He alleged that the then BJP government at the Centre in connivance with the previous Telangana Rashtra Samithi (TRS) government in the State secretly brought in an ordinance in 2014, handing over two lakh acres belonging to tribals in Bhadrachalam division to the Polavaram project. He said the A.P. Chief Minister should reduce the height of Polavaram dam to save those two lakh acres from submergence. He said farmers in the tail-end areas of Madhira constituency suffered immensely as water from the third zone had to first go into Andhra territory before coming back to them, something practically impossible. The TRS during its 10-year rule neglected this problem despite multiple reminders, he charged. It is only after the Congress government came to power that the Irrigation minister shifted the villages in Madhira constituency into the Nagarjunasagar Project second zone and sanctioned ₹600-crore Jawahar Lift Irrigation Scheme to irrigate 30,000 acres, he said thanking Mr. Uttam Kumar Reddy for his pro-farmer initiative. Speedy completion Mr. Vikramarka inspected the Sammakka Sarakka barrage and the off-take point of the Devadula Project in Kannaigudem mandal of Mulugu district on Sunday evening. He, along with Mr. Uttam Kumar Reddy, held a review meeting with the project officials at the site. He said land acquisition costs and other outstanding bills of the J Chokka Rao Devadula Lift Irrigation Scheme (JCRDLIS) totalling around ₹100 crore will be released in a phased manner to ensure its speedy completion. Revised project cost Mr. Uttam Kumar Reddy said the revised project cost is ₹18,500 crore, of which ₹14,168 crore had been spent. An additional ₹4,331 crore was urgently required to clear contractor dues, complete delivery main encasement works and finish pending land acquisition. Once completed, the JCRDLIS would stabilise existing ayacut, provide drinking water to rural habitations, improve crop yields and reduce migration from water-scarce areas. He has also asked the officials concerned to expedite the pending land acquisition process to complete the project works in all respects.
Medscape
08-08-2025
- Health
- Medscape
Clozapine Shows Better Results in Schizoaffective Disorder
TOPLINE: A real-world trial showed that in adults with dual psychosis, clozapine was effective in alleviating psychotic and affective symptoms, with better outcomes being observed in schizoaffective disorder (SZD) than in treatment-resistant schizophrenia (TRS). METHODOLOGY: Researchers conducted a prospective, pragmatic clinical trial from 2021 to 2024 in Spain and included 127 participants with refractory psychosis (mean age, 38.5 years; 74.8% men). Participants were divided into three arms: those with TRS receiving clozapine (TRS-clozapine; n = 43), those with TRS receiving optimised standard antipsychotics (TRS-control; n = 42), and those with SZD receiving clozapine (SZD-clozapine; n = 42; non-randomised due to low prevalence). Monthly assessments over 3 months included the use of the Positive and Negative Syndrome Scale (PANSS), Young Mania Rating Scale (YMRS), Montgomery-Åsberg Depression Rating Scale (MADRS), Calgary Depression Scale for Schizophrenia (CDSS), Clinical Global Impression (CGI) scale, and Udvalg für Kliniske Undersogelser (UKU) scale. Researchers evaluated the efficacy of clozapine in patients with TRS, the effect of clozapine on real-world SZD psychotic and affective symptoms, and the response and tolerability to clozapine in patients with TRS vs SZD. TAKEAWAY: Compared with the TRS-control group, the TRS-clozapine group had greater 3-month reductions in PANSS positive, negative, and total (P/N/T) scores (P < .001 for all) and CDSS (P < .001), CGI (P < .001), and MADRS (P = .003) scores, whereas the SZD-clozapine group showed rapid, significant improvements in psychotic scale scores (PANSS-P, P = .027; PANSS-N, P = .002; and PANSS-T, P = .005) and YMRS, MADRS, and CDSS scores (P < .001 for all) from month 1 to month 3. The SZD-clozapine group showed greater reductions in the following scores than the TRS‐clozapine group at 3 months: PANSS-P (-23.4 vs -19.3), PANSS-T (-68.7 vs -63.0), YMRS (-15.3 vs -4.9), MADRS (-8.4 vs -6.0), and CDSS (-5.4 vs -4.1). Patients receiving clozapine reported better subjective treatment perception (P < .01) and required fewer adjunct antipsychotics and sedatives, and clozapine emerged as the sole independent predictor of superior symptom and substance use outcomes. Clozapine was well tolerated in both groups, with no serious treatment-related adverse events. Mild drowsiness or asthenia was observed, which was managed by lowering co-medication doses. UKU side effect scores also reduced from month 2 onwards. IN PRACTICE: "[The study] findings have direct clinical implications, reinforcing the evidence supporting the use of CLZ [clozapine] in dual psychosis and expanding therapeutic options for SZD," the authors wrote. "Moving forward, efforts to improve clozapine use should focus on enhancing clinician education, standardising knowledge sources and promoting best practices in its management. Additionally, the development of well-designed long-term studies will be essential," they added. SOURCE: This study was led by Marc Peraire, Consorci Hospitalari Provincial de Castelló, Castellón de la Plana, Spain. It was published online on August 1 in the Journal of Psychopharmacology. LIMITATIONS: This study was limited by incomplete patient histories and the absence of antisuicidal efficacy measures. Additional constraints were the lack of comparison between dual-disorder and pure psychosis cohorts, unstable diagnostic labels, gender imbalance, a single-site design, potential overfitting in regression models, and a relatively short follow-up period. DISCLOSURES: This study received financial support from the Research Foundation of the Provincial Hospital of Castellón. The authors reported having no conflicts of interest. This article was created using several editorial tools, including AI, as part of the process. Human editors reviewed this content before publication.
Scotsman
06-08-2025
- Business
- Scotsman
Trump, taxes and takeovers: Aberdeen's OEG navigates its way to $1 billion sales goal
'Anything that increases costs and complexity - tariffs and taxes - can put you off investing' – John Heiton, CEO Sign up to our Scotsman Money newsletter, covering all you need to know to help manage your money. Sign up Thank you for signing up! Did you know with a Digital Subscription to The Scotsman, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... OEG Energy Group, the Aberdeen-headquartered offshore services provider employing 1,500 people globally, remains on the growth trail with further acquisitions set to boost its burgeoning renewables business as it charts a course to $1bn (£750 million) of annual group revenues. Chief executive John Heiton said the 30 per cent growth seen last year was likely to be repeated this year despite volatile trading conditions on both sides of the Atlantic, US tariffs and higher taxes, with April's hike in UK employers' national insurance contributions adding a £1 million burden overnight. Advertisement Hide Ad Advertisement Hide Ad The company, which has roots stretching back more than 50 years, is also having to balance the demands of a pro-oil Trump administration that is pulling back on green investment, with a Westminster government that plays up renewable energy but is 'not so supportive' of offshore oil and gas. OEG's chief executive John Heiton. Heiton, a local to the Aberdeenshire area, who joined OEG in 2008, was speaking just a fortnight after the group sealed its first acquisition since being bought by US funds heavyweight Apollo in March. The takeover of Trinity Rental Services (TRS) - for an undisclosed sum - marks a 'strategic expansion' of OEG's US footprint and capabilities. Founded in 2013, Louisiana-based TRS has grown through acquisition and investment to become a key provider in oil and gas offshore container rentals in the Gulf of America. Its workforce of around 80 skilled employees now becomes part of OEG. 'We expect it to be quite a smooth integration,' said Heiton. 'It was a direct competitor so we expect the integration to happen pretty quickly. There are some common customers. Advertisement Hide Ad Advertisement Hide Ad 'We won a major new contract in the US and that led to a drive for more equipment and one way to fulfil that was to buy a competitor. Also, we admired Trinity for a long time and had talked about acquisitions with them for five or six years. This was the right time for them to do a deal.' Part of the business specialises in the supply of containers to the global oil and gas industry. OEG's predecessor companies - Ferguson Seacabs, Containental and Vertec Engineering - were among the pioneers in the supply of equipment to the North Sea oil and gas industry, but the group now derives about 55 per cent of its business from renewables work. That split is expected to remain about the same this year, even with the Trinity deal. During 2023, the group launched OEG Renewables in a move that brought all subsea, topside, cable handling and marine specialist services under one roof to service both the construction and operational phases for offshore wind farms on a global basis. Heiton said the TRS deal, though a milestone one, did not mark a change in the group's strategy. Advertisement Hide Ad Advertisement Hide Ad 'If we do one or two acquisitions in containers over five years and probably do ten-plus in renewables, that is the weighting we expect to see in the business,' he noted. OEG's renewables business helps with the construction and operational phases for offshore wind farms on a global basis. Buying a US-domiciled business like TRS puts the group in an advantageous position with regards to tariffs, though the wider business has suffered some fallout amid President Trump's see-sawing trade levies. 'They have caused some delays and issues in terms of our US business and led to a general slowdown in the world economy,' Heiton cautioned. 'That then drives a slowdown in demand for energy. Anything that increases costs and complexity - tariffs and taxes - can put you off investing.' The group's fast-growing renewables business recently won a multi-million-pound contract to support the construction phase of the vast Inch Cape offshore wind farm, which is due to be operational in 2027. Once completed, the development - some ten miles off the Angus coast - will feature 72 giant wind turbines and an onshore substation, generating sufficient clean energy to power the equivalent of more than half the homes in Scotland. Advertisement Hide Ad Advertisement Hide Ad Under the terms of the contract, OEG will supply a package of specialist services including marine coordination, high voltage and ancillary port services. These will all be delivered from the company's new flagship facility in Edinburgh, which is equipped with the latest state-of-the-art technology for round-the-clock monitoring of operations. OEG will also operate up to ten vessels to help support the ambitious project. Heiton said the contract award reinforced the group's position as a key partner in the offshore renewables industry. And, despite the Trump administration blowing cold on wind, the US is likely to be OEG's second largest market this year for renewables, behind the UK. 'These were projects signed off in the Biden era that are in the construction phase,' noted Heiton. 'But in three or four years time that business will probably fall to almost zero as there are no projects coming through. However, we are in pretty much every major offshore energy market.' Headquarters Last year saw the group move into a new global headquarters at the ABZ Business Park in Dyce. The office can accommodate up to 100 personnel across three floors and supplements a number of operational bases in the Aberdeen area. Advertisement Hide Ad Advertisement Hide Ad Some 250 out of the 1,500 people employed by the group globally work out of the North-east and while Heiton said the firm was proud of its Scottish roots, the UK now accounted for just 10 to 15 per cent of its business.
