Applied UV Expands Reach into Global Cannabis Market

Rhea-AI Summary

Applied UV, Inc. (NASDAQ:AUVI) reported that its acquired company, Kes Science and Technologies, is expanding its reach within the global cannabis market. The subsidiary received a substantial order for its AiroClean 420 air purification system from the US distributor Growers House. This system combats powdery mildew and other pathogens that threaten cannabis crops, an industry projected to exceed $17B in revenue. The acquisition could lead to increased market share and revenue growth as the cannabis sector continues to flourish.

Positive

• Kes Science's AiroClean 420 received a large order from Growers House, indicating strong demand.
• The acquisition may enhance Applied UV's market share in the growing legal cannabis market.
• The legal cannabis market grew by 46% from 2019 to 2020, highlighting substantial industry growth.

Negative

• None.

Recently Acquired Kes Science Continues Cannabis Market Penetration

MOUNT VERNON, NY / ACCESSWIRE / March 1, 2022 / Applied UV, Inc. (NASDAQ:AUVI) ("Applied UV" or the "Company"), a pathogen elimination 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, announces that its recently acquired Kes Science and Technologies acquisition continues its penetration into the Global Cannabis market. Kes recently received a large order for its AiroClean 420 from its US Distributor Growers House.

Applied UV's internal research estimates that the legal cannabis industry grew 46% from 2019 to 2020 achieving revenue in excess of $17B. The cannabis crop is subject to many viruses that could impede growth and destroy crops. Powdery mildew is one of the most potent destroyers of cannabis grows in the world. The pathogen spreads through the air and gets into the vascular system of the plants. It remains hidden until two weeks into flowering before it wreaks havoc on the entire grow. When it is detected, growers must destroy the crop, remove all their equipment, and conduct an intensive and costly deep clean. Certain fungicides can combat powdery mildew, but these are illegal in some states and are of questionable safety given they are sprayed on something intended for human consumption. Kes Science's AiroClean420 eradicates powdery mildew and other airborne pathogens and not only protects the crops but helps protect the personnel from airborne pathogens working in the facilities growing them as well.

Applied UV believes the Kes Science acquisition may allow Applied UV to further expand into the booming global legal cannabis market and capitalize on its rapid growth where further market penetration could result in increased market share, revenue, and earnings growth. The Kes Science & Technology Airoclean 420 Air Purification systems are currently used by numerous commercial cannabis grow operations throughout the US to help protect crops from all kinds of dangerous and contagious pathogens, including powdery mildew, grey mold/botrytis, allergens, bacteria, viruses, odors, VOC's.

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® air purification devices are research backed, clinically proven, and developed for NASA with assistance from the University of Wisconsin. Airocide® is listed as an FDA Class II Medical device, utilizes a proprietary photocatalytic (PCO) bioconversion technology that draws air into a reaction chamber that converts damaging molds, microorganisms, dangerous airborne pathogens, destructive VOCs, allergens, odors and biological gasses into harmless water vapor and green carbon dioxide without producing ozone or other harmful byproducts. Airocide® applications include healthcare, hospitality, grocery chains, wine making facilities, commercial real estate, schools, dental offices, post-harvest, grocery, cannabis facilities and homes. For more information about Applied UV, Inc., and its subsidiaries, please visit the following websites: https://www.applieduvinc.com/; https://sterilumen.com/; https://www.airocide.com; https://kesscience.com; https://scientificairmanagement.com; www.airclean420.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.

For additional Company Information:
Applied UV Inc.
Max Munn
Applied UV Interim CEO
max.munn@sterilumen.com

Contact:
Brett Maas, Managing Principal
Hayden IR
brett@haydenir.com
(646) 536-7331

SOURCE: Applied UV, Inc.

View source version on accesswire.com:
https://www.accesswire.com/690777/Applied-UV-Expands-Reach-into-Global-Cannabis-Market

FAQ

What recent acquisition did Applied UV make?

Applied UV recently acquired Kes Science and Technologies, which is expanding into the global cannabis market.

What product is Kes Science promoting in the cannabis industry?

Kes Science is promoting the AiroClean 420 air purification system, which targets pathogens like powdery mildew.

How much did the legal cannabis industry grow from 2019 to 2020?

The legal cannabis industry grew by 46% from 2019 to 2020, achieving over $17 billion in revenue.

What company is behind the AiroClean 420 system?

The AiroClean 420 system is developed by Kes Science and Technologies, a subsidiary of Applied UV.

What pathogens does the AiroClean 420 protect against?

The AiroClean 420 protects against airborne pathogens, including powdery mildew, allergens, bacteria, and viruses.