U.S. Markets closed
  • S&P 500

    3,310.11
    +39.08 (+1.19%)
     
  • Dow 30

    26,659.11
    +139.16 (+0.52%)
     
  • Nasdaq

    11,185.59
    +180.72 (+1.64%)
     
  • Russell 2000

    1,561.58
    +18.30 (+1.19%)
     
  • Crude Oil

    36.12
    -0.05 (-0.14%)
     
  • Gold

    1,867.20
    -0.80 (-0.04%)
     
  • Silver

    23.35
    -0.01 (-0.02%)
     
  • EUR/USD

    1.1677
    -0.0073 (-0.6189%)
     
  • 10-Yr Bond

    0.8350
    +0.0540 (+6.91%)
     
  • Vix

    37.59
    -2.69 (-6.68%)
     
  • GBP/USD

    1.2934
    -0.0053 (-0.4087%)
     
  • USD/JPY

    104.6040
    +0.3030 (+0.2905%)
     
  • BTC-USD

    13,426.56
    -116.35 (-0.86%)
     
  • CMC Crypto 200

    264.05
    +21.37 (+8.80%)
     
  • FTSE 100

    5,581.75
    -1.05 (-0.02%)
     
  • Nikkei 225

    23,331.94
    -86.57 (-0.37%)
     

Applied UV, Inc. Subsidiary, SteriLumen, Inc. Enters into Exclusive Distribution Agreement with Akida Holdings LLC, for its Airocide(TM) Air Quality-Improvement(TM) System

·6 mins read

SteriLumen Will Become Distributor in the U.S and the Greater Middle East to the Hospitality and Hotel Industry

MOUNT VERNON, NY / ACCESSWIRE / September 8, 2020 / Applied UV, Inc. (NASDAQCM:AUVI) ("Applied UV" or the "Company"), an infection prevention technology company that applies the power of narrow-range ultra violet light ("UVC") utilizing its patented devices to destroy pathogens safely, thoroughly, and automatically, today announced that its subsidiary, SteriLumen, Inc. ("SteriLumen"), has signed an exclusive distribution agreement with Akida Holdings LLC for its Airocide™ Air Quality-Improvement™ System (Airocide System) line of patented, air purification technologies for use in the hospitality and hotel industries in the US and Greater Middle East.

The Airocide™ system, originally developed for NASA by the University of Wisconsin, 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 VOC's in a variety of applications and industries including healthcare, hospitality, grocery chains, wineries, commercial real estate, schools, dental offices, cannabis, and homes. Airocide™ has been featured on "CNN", "Fox News Networks", "Maxim" and "The Ellen Show". The Airocide™ technology has been widely adopted and is currently used by nationally recognized brands such as Delmonte, Opus One, DiMare, and Davis Estates Winery, to name a few.

Under the terms of the agreement, SteriLumen, within the hotel and hospitality markets, will be the exclusive distributor of Airocide™ systems in the U.S. and the Greater Middle East. The combination of SteriLumen and Airocide disinfecting solutions allows SteriLumen to provide customers a broader range of disinfection solutions and products.

"We believe we have found a perfect partner as both companies' focus is innovation and the commitment to understand and deliver solutions to our customers," said Max Munn, President of Applied UV. "Indoor air quality is a critical need for virtually all public spaces, and especially so for healthcare facilities, hotels and restaurants due to the continuous exposure of bacteria and viruses they are confronted with daily. We believe the Airocide™ system is the right solution to safely reduce airborne pathogens. We are excited about offering our customers a comprehensive set of solutions to address the very serious challenges posed by the current pandemic and by pathogens in the air and on surfaces."

Keith Frein, President & CEO of Airocide™ added, "We are pleased to welcome SteriLumen as a distribution partner for the Airocide family of products. SteriLumen is an ideal partner for the Airocide brand as they have the scale, infrastructure, reputation, experience, and complementary product portfolio to expand the Airocide™ family of products into new markets, adding to our expanding market leadership position."

Q Saeed, Chief Executive Officer of Applied UV, commented, "The Airocide™ team has already been a great partner with an opportunity for business development in the United Arab Emirates. Airocide™ systems are already being utilized in some hospitals and healthcare facilities worldwide. We see it as a complimentary solution in hospitality and healthcare sector, as SteriLumen is focused on helping hotels, restaurants, and nursing homes open safely, increase density and provide a level of assurance to their customers that every effort is being made to create a safer environment."

The distribution agreement may be expanded with additional products and territories in the future. Financial terms of the agreement were not disclosed.

About Applied UV

Applied UV is focused on the development and acquisition of technology that address infection prevention in the healthcare, hospitality, commercial and residential markets. Our products utilize disinfection technology that applies the power of UVC to destroy pathogens safely, thoroughly, and automatically. The Company's SteriLumen technology was tested at an independent laboratory that found the SteriLumen mirror and drain to be greater than 97% and 99.99%, respectively, effective in killing the OC43 human coronavirus, a strain of human coronavirus that is genetically similar to SARS-CoV-2. According to the independent laboratory, it is expected that SARS-CoV-2, the virus that causes COVID-19 will be killed in a similar manner to OC43. The Company has two wholly owned subsidiaries; SteriLumen and Munn Works, LLC ("Munn Works"). SteriLumen develops disinfection devices and technology that combat hospital acquired infections (HAIs). We formed a team to solve and patent a product and process to neutralize pathogens providing a compelling solution for the hospitality space and a solid path to entering the healthcare market. MunnWorks manufactures fine mirrors specifically for the hospitality industry. Our goal, at Munn Works, is to contribute to the creation of what our design industry clients seek: manufacturing extraordinary framed mirrors.

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/.

About Airocide and Akida Holdings LLC

Akida Holdings LLC, headquartered in Jacksonville, Florida, owns the exclusive world-wide rights to a unique NASA developed air purification technology, Airocide™. The Airocide™ technology has been clinically tested by the University of Wisconsin, Texas Tech University, and Texas A&M University. Airocide™ is listed with the FDA as a Class II Medical Device. Airocide's patented technology has been proven to eliminate virtually 100% of all biological contaminants that enter its system regardless of size and without any harmful by-products. Additional information can be found at www.airocide.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.

Applied UV Investor Relations

TraDigital IR

Kevin McGrath
+1-646-418-7002
kevin@tradigitalir.com

MJ Clyburn
+1-917-327-6847
clyburn@tradigitalir.com

SOURCE: Applied UV, Inc.



View source version on accesswire.com:
https://www.accesswire.com/605066/Applied-UV-Inc-Subsidiary-SteriLumen-Inc-Enters-into-Exclusive-Distribution-Agreement-with-Akida-Holdings-LLC-for-its-AirocideTM-Air-Quality-ImprovementTM-System