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Applied UV has announced purchase orders worth $4.55 million, including $2.67 million received and $1.88 million expected by the end of Q2, from The X Company, a leading co-living rental developer. These orders will supply backlit mirrors and LED lighting for X Co.'s portfolio, which currently comprises 5,000 beds and over $1 billion in construction activity. This partnership reflects the successful merger of AUVI with LED Supply Co., allowing for competitive pricing and enhanced product offerings.
Positive
Secured orders of $4.55 million enhance revenue.
Orders include backlit mirrors and LED lighting, increasing product demand.
Partnership with X Company expands market reach.
Anticipated synergies from merger with PURO Lighting and LED Supply Co. are materializing.
Negative
None.
Applied UV announces purchase orders totaling $4.55 million consisting of $2.67M received and the balance of $1.88M assured by the end of the second quarter, from one of the country’s premier co-living rental property developers, The X Company
MOUNT VERNON, N.Y.--(BUSINESS WIRE)--
Applied UV, Inc. (NasdaqCM: AUVI) (“Applied UV” or the “Company”), a global leading provider of patented, scientifically and clinically proven surface and air disinfection technologies (fixed, mobile, and HVAC), LED lighting products and premium hotel furnishings, announces today that its wholly owned subsidiary LED Supply Co., has secured a multi-million dollar purchase agreement from The X Company (“X Co.”), the country’s premier co-living rental property developer.
The $4.55 million of secured and assured orders for LED Supply Co. will provide back-lit mirrors, LED lighting and control systems for X Co.’s growing billion-dollar portfolio of properties. The orders will be fulfilled by LED Supply Co., in partnership with MunnWorks who will manufacture the backlit mirrors in its newly acquired 100,000 square foot Brooklyn, NY facility.
“We are pleased to continue our partnership with LED Supply Co. with these new orders,” said Ben Brichta, Partner X Co. “From a customer perspective, the merger between AUVI and LED Supply Co. creates efficiencies and allows for X Co. to build on an what is already a foundational supplier relationship. Having access to the MunnWorks’ high-end U.S. made decorative backlit mirrors and case goods, at competitive prices, allows us to provide a better-quality product to our residents while staying within our allotted budget on a project.”
According to X Co., they are currently active in six markets, with 5,000 beds in their current portfolio and over $1 billion in construction activity. X Co. is unique in that it is fully integrated — able to acquire, design, build and operate its real estate assets. X Co. buildings offer a high level of amenities and resident experiences in their unique combination of private rentals, co-living suites and co-working spaces. They also offer residents an unconventional club environment in support of the growing work from home segment with state-of-the-art gym and fitness studios, social activities and dramatic shared spaces.
The orders, secured through LED Supply Co., more than doubles X Co.’s previous orders with LED Supply Co. and expands to include backlit mirrors supplied by Applied UV subsidiary MunnWorks, with subsequent orders planned for later this year. The joint order is the first, in what the Company expects to be many collaborative sales efforts that were forecasted as part of the merger of Applied UV, LED Supply Co. and PURO Lighting announced in January of this year.
“AUVI is pleased that the synergies and growth in revenue that were anticipated as part of the merger with PURO Lighting and LED Supply Co. are already being realized,” said Max Munn, CEO of Applied UV Inc. “We believe both new and existing customers will take advantage of the diverse product lines of the merged entity offerings leading to larger purchase orders and increased revenue over time.”
About Applied UV Inc.
Applied UV, Inc. (“AUVI”) provides proprietary surface and air disinfection technology focused on Improving Indoor Air Quality (IAQ), specialty LED lighting and luxury mirrors and commercial furnishings all of which serves clients globally in both the commercial and retail segments.
Our products address the needs in the healthcare, hospitality, food preservation, cannabis, education, winery vertical markets. The Company has established strategic manufacturing partnerships and alliances including Canon, Acuity, Johnson Controls, Siemens, Grainger, and a global network of 64 dealers and distributors in 52 countries, offering a complete suite of products through its two wholly owned subsidiaries - SteriLumen, Inc. (“SteriLumen”) and Munn Works, LLC (“MunnWorks”). SteriLumen owns brands and markets a portfolio of clinically proven products utilizing advanced UVC Carbon, Broad Spectrum UVC LED’s, Photo-catalytic oxidation (PCO) pathogen elimination technology, branded Airocide ®, Scientific Air™, Airoclean™ 420, Lumicide™, PUROHealth, PURONet, and LED Supply Company. SteriLumen’s proprietary platform suite of patented, surface and air technologies offers, the most complete pathogen disinfection platform including mobile, fixed and HVAC systems and software solutions interconnecting its entire portfolio suite into the IoT allowing customers to implement, manage and monitor IAQ measures recommended by the EPA across any enterprise. SteriLumen’s Lumicide™ platform applies the power of ultraviolet light (UVC) to destroy pathogens automatically, addressing the challenge of healthcare-acquired infections ("HAIs") in several patented designs for infection control in healthcare. LED Supply Company, a full-service, wholesale distributor of LED lighting and controls throughout North America.
MunnWorks manufactures and sells custom luxury and backlit mirrors, and conference room & living spaces furnishings.
Our global list of Fortune 100 end users including Kaiser Permanente, NY Health+Hospitals, MERCY Healthcare, Baptist Health South Florida, New York City Transit, Samsung, JB Hunt, Boston Red Sox’s Fenway Park, JetBlue Park, France’s Palace of Versailles, Whole Foods, Del Monte Foods, U.S. Department of Veterans Affairs, Marriott, Hilton, Four Seasons and Hyatt, and more. For information on Applied UV, Inc., and its subsidiaries, please visit https://www.applieduvinc.com
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.
