Disinfection Technology Company Applied UV Announces Strategic Manufacturing and Supply Chain Collaboration with Canon

Rhea-AI Summary

Applied UV, Inc. (NASDAQ: AUVI) has signed a strategic manufacturing agreement with Canon Virginia, Inc. (CVI) to enhance its air purification product line. This partnership positions CVI as the primary manufacturer and logistical authority, leveraging its advanced production capabilities. The collaboration aims to achieve significant cost savings, accelerate product development, and streamline manufacturing processes, addressing past supply chain disruptions. This agreement is anticipated to positively impact the company’s operational efficiency and market readiness for its advanced air purification solutions.

Positive

• Strategic manufacturing agreement with Canon Virginia enhances production capabilities.
• Potential for significant logistical cost savings and accelerated product development.
• Focus on leveraging advanced technologies for improved manufacturing efficiency.

Negative

• None.

The Agreement Will Ensure Logistical Cost Savings and Accelerated Development of Applied UV’s Next Generation Products

MOUNT VERNON, N.Y.--(BUSINESS WIRE)-- Applied UV, Inc. (Nasdaq CM: AUVI) (“Applied UV” or the “Company”), a pathogen elimination technology company, announced that it has signed a strategic manufacturing and related services agreement with Canon Virginia, Inc., (“CVI”) a global manufacturing, engineering and technical operation for the Canon family and a wholly owned subsidiary of Canon U.S.A, Inc. The agreement establishes CVI’s status as the primary manufacturer, assembler and logistical authority for Applied UV’s suite of air purification solutions. The Manufacturing Agreement, the first of a series of anticipated agreements, enables the Company to leverage the resources of CVI’s two million-square-foot state-of-the-art engineering, manufacturing and distribution facility.

Airocide Air Purifier (Graphic: Applied UV, Inc.)

"In anticipation of the expanded use globally of our Airocide and Scientific Air fixed and mobile air purification solutions, this strategic relationship is one which I value more than most," said Max Munn, President & Director of Applied UV. "Over the past three years, supply chain and logistics disruptions have impacted operations for companies globally, so consolidating and bringing our manufacturing processes on shore with one company was a top priority.”

Applied UV plans to leverage CVI’s almost 40 years of innovative and efficient production methods to manufacture the Company’s patented, FDA Class II Listed Airocide PCO commercial and consumer devices, as well as the patented advanced Activated Carbon UVC and HEPA Mobile disinfection Scientific Air portfolio.

“Financially speaking, CVI’s breadth of in-house capabilities and supply-chain efficiencies should translate into untold short and longer-term production, logistical cost savings and accelerated development of our next generation products,” said Max Munn, President, Founder and a Director of Applied UV. “By reducing manufacturing execution risk, we will be able to focus solely on sales and marketing.”

Applied UV also plans to collaborate with Canon Financial Services, Inc. to enable better cash flow management in regard to its growing supply chain requirements. Further, the Company will look to work with CVI’s affiliates extensive field support team to promote the sale of the Company’s products, as well as service capabilities.

Canon operates under the philosophy of Kyosei, which means, ‘living and working together for the common good,’” said Shingo Shigeta, President and Chief Executive Officer of CVI. “We look forward to working together with the Applied UV team to improve the quality of indoor air globally by offering our manufacturing, R&D and process expertise to the current and next generation Applied UV family of best-in-class air and surface disinfection portfolio.”

About Canon Virginia, Inc.

Located in Newport News, Va., Canon Virginia, Inc. serves as the Canon manufacturing, engineering, recycling and technical support center for the Americas. Canon Virginia produces new products using advanced manufacturing methodologies while also serving as a factory service center providing expert customer service in the repair and refurbishment of Canon products. Canon Virginia’s manufacturing services extend to injection mold making, contract manufacturing, medical contract manufacturing and aftermarket services. For more information, call 1-866-99-CANON or visit https://www.cvi.canon.com/manufacturing-services/.

About Applied UV

Applied UV, Inc. (“AUVI”) develops and acquires proprietary infection prevention and control technology in the healthcare, commercial & public venue, food processing/storage, cannabis, and education, vertical markets. AUVI has two wholly owned subsidiaries - SteriLumen, Inc. (“SteriLumen”) and Munn Works, LLC (“Munn Works”). Sterilumen owns and markets a portfolio of products with advanced pathogen elimination technology, branded Airocide® by Sterilumen, Scientific Air™ by Sterilumen, Airoclean™ 420 by Sterilumen, and Lumicide™ by Sterilumen.

Leading organizations globally rely on AUVI’s air purification systems to completely eliminate airborne and surface infections, mold, bacteria, allergens and other contaminants. Our customers include Kaiser Permanente, NY Health+Hospitals, Baptist Health South Florida, Boston Red Sox’s Fenway Park, JetBlue Park, France’s Palace of Versailles, Invited Clubs, Whole Foods, Del Monte Foods, U.S. Department of Veterans Affairs, and more.

Scientifically proven to reduce Healthcare Acquired Infections (HAI), Scientific Air™ offers a proprietary 3-stage technology integrating HEPA filters, ultraviolet germicidal light chamber and active carbon substrate.

For information on Applied UV, Inc., and its subsidiaries, please visit the following websites:
https://www.applieduvinc.com/
https://www.sterilumen.com
https://airoclean420.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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221216005028/en/

For additional Company Information:

Max Munn, President, Founder and a Director

Applied UV Inc.

m.munn@sterilumen.com

Contact:

Brett Maas, Managing Principal

Hayden IR

brett@haydenir.com

(646) 536-7331

Source: Applied UV, Inc.

FAQ

What is the recent agreement announced by Applied UV (AUVI)?

Applied UV signed a strategic manufacturing agreement with Canon Virginia, Inc. to enhance its air purification product line.

How will the partnership with Canon Virginia benefit Applied UV (AUVI)?

The partnership is expected to provide cost savings, accelerate product development, and improve manufacturing efficiency.

What products will be affected by the manufacturing agreement between AUVI and Canon Virginia?

The agreement will impact Applied UV’s Airocide and Scientific Air lines of air purification solutions.

What are the goals of Applied UV (AUVI) in its collaboration with Canon Virginia?

The goals include reducing manufacturing execution risks, improving cash flow management, and promoting product sales.

When was the manufacturing agreement between Applied UV (AUVI) and Canon Virginia announced?

The agreement was announced on December 16, 2022.