$3.5 million minimum first year purchase commitment of Airocide® systems
MOUNT VERNON, NY / ACCESSWIRE / May 19, 2021 / Applied UV, Inc. (NASDAQ:AUVI) ("Applied UV" or the "Company"), an infection control technology company that applies the power of narrow-range ultraviolet light ("UVC") for surface areas and catalytic bioconversion technology for air purification to destroy pathogens safely, thoroughly, and automatically, today announced the signing of an exclusive distribution agreement with 3Sixty Biopharmaceuticals (Pty) Ltd. ("3Sixty") for the distribution of the Airocide® consumer and commercial air purification systems within the continent of Africa. 3Sixty is one of the largest black owned companies in South Africa with a primary focus on the market that addresses the healthcare crisis due to the global pandemic.
Under the terms of the agreement, 3Sixty has agreed to an upfront binding purchase commitment of a minimum of $3.5 million of Airocide® systems over the initial one-year term of the agreement. After the initial term, both parties have agreed to assess opportunities to expand the product line to include the SteriLumen platform of connected UVC devices for infection control in and around high-traffic areas.
Commenting on the agreement, Khandani Msibi, Group CEO of 3Sixty Global Solutions Group said, "We are extremely pleased to partner with SteriLumen and appreciate the trust they have placed in 3Sixty and our dedicated clinical solutions team. Air and surface infection control is a serious safety issue for the public, and offering the Airocide® systems will provide additional choice for our customers. SteriLumen shares our commitment to innovation and high-quality products that help protect people's lives. We look forward to this new addition to our best-in-class portfolio, as well as leveraging our geographic reach, sales, service, and technical capabilities, helping accelerate and grow our businesses together."
"3Sixty is a great partner for the Airocide brand. They have the scale, infrastructure, reputation, and experience to make the Airocide® system a market leader in Africa. We are pleased that 3Sixty recognized the quality, innovation, performance and safety of our Airocide® system", said Q Saeed, CEO of Applied UV.
Airocide® System
The Airocide™ System, originally developed by NASA with assistance from the University of Wisconsin at Madison, is an airborne pathogen killing technology that uses a patented combination of UVC and a proprietary, titanium dioxide based photocatalyst. Listed as an FDA Class II Medical device, the Airocide™ technology is clinically proven and field tested to kill/remove/eliminate airborne pathogenic and non-pathogenic microorganisms, allergens, odors and harmful VOCs in a variety of applications and industries including healthcare, hospitality, grocery chains, wineries, commercial real estate, schools, dental offices and homes. Airocide® air purifiers are available at www.airocide.com.
About 3Sixty Biopharmaceuticals (Pty) Ltd.
3Sixty Biopharmaceuticals (Pty) Ltd is a South African company based in Johannesburg, the commercial hub of South Africa. The company is committed to the development and commercialization of South African intellectual property and it seeks to achieve this either by itself or through collaboration with principals both from the private and/or public sector.
About Applied UV
Applied UV is focused on the development and acquisition of technology that address infection control in the healthcare, hospitality, commercial and municipal markets. The Company has two wholly owned subsidiaries - SteriLumen, Inc. ("SteriLumen") and Munn Works, LLC ("Munn Works"). SteriLumen's connected platform for Data Driven Disinfection™ applies the power of ultraviolet light (UVC) to destroy pathogens safely, thoroughly, and automatically, addressing the challenge of healthcare-acquired infections ("HAIs"). Targeted for use in facilities that have high customer turnover such as hospitals, hotels, commercial facilities, and other public spaces, the Company's Lumicide™ platform uses UVC LEDs in several patented designs for infection control in and around high-traffic areas, including sinks and restrooms, killing bacteria, viruses, and other pathogens residing on hard surfaces within devices' proximity. The Company's patented in-drain disinfection device, Lumicide Drain, is the only product on the market that addresses this critical pathogen intensive location. SteriLumen's Airocide® products for air purification, developed by NASA and FDA Cleared as class II medical devices, utilize a proprietary photo-catalytic bioconversion technology that draws air into a reaction chamber that converts damaging molds, microorganisms, dangerous pathogens, destructive VOCs and biological gasses into harmless water vapor without producing ozone or other harmful byproducts. Airocide® applications include healthcare, hospitality, grocery chains, wine making facilities, commercial real estate, schools, dental offices, and homes.
For more information about Applied UV, Inc., and its subsidiaries, please visit the following websites: https://www.applieduvinc.com/; https://sterilumen.com/; and, https://munnworks.com/.
Forward-Looking Statements
The information contained herein may contain "forward‐looking statements." Forward‐looking statements reflect the current view about future events. When used in this press release, the words "anticipate," "believe," "estimate," "expect," "future," "intend," "plan," or the negative of these terms and similar expressions, as they relate to us or our management, identify forward‐looking statements. Such statements include, but are not limited to, statements contained in this press release relating to the view of management of Applied UV concerning its business strategy, future operating results and liquidity and capital resources outlook. Forward‐looking statements are based on the Company's current expectations and assumptions regarding its business, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. The Company's actual results may differ materially from those contemplated by the forward‐looking statements. They are neither statements of historical fact nor guarantees of assurance of future performance. We caution you therefore against relying on any of these forward‐looking statements. Factors or events that could cause the Company's actual results to differ may emerge from time to time, and it is not possible for the Company to predict all of them. The Company cannot guarantee future results, levels of activity, performance, or achievements. Except as required by applicable law, including the securities laws of the United States, the Company does not intend to update any of the forward‐looking statements to conform these statements to actual results.
CONTACT:
Applied UV Investor Relations
TraDigital IR
Kevin McGrath
TraDigital IR
+1-646-418-7002
[email protected]
SOURCE: Applied UV, Inc.