Welcome to our dedicated page for Applied UV news (Ticker: AUVI), a resource for investors and traders seeking the latest updates and insights on Applied UV stock.
Applied UV, Inc. (NASDAQ: AUVI), founded in 2012, is a pioneering company headquartered in Mount Vernon, New York. The company specializes in the design, manufacture, assembly, and distribution of automated disinfecting mirror systems, primarily for hospitals and healthcare facilities. They also create and supply custom-designed decorative framed mirrors, framed art, and bathroom vanities, catering mainly to the hospitality sector. Applied UV operates extensively across the United States and internationally.
The company's recent achievements include the launch of the Fighter Flex LED solution, which showcases advanced energy efficiency for HVAC systems. This technology, selected by the GSA and DOE for the Green Proving Ground Program, promises substantial energy savings by maintaining HVAC coil efficiency. The patented UVC LED system that Applied UV has developed can reduce energy consumption in HVAC systems by 5-15%, translating to approximately $45,000 in annual savings for a 100,000 square foot office space.
Applied UV is also making significant strides with its Smart Building Technologies division, which is expected to generate substantial revenue. With strategic investments and distribution agreements, the division anticipates a $10 million contribution from just three major accounts in 2024.
Expanding its horizon, Applied UV has engaged in a multi-year exclusive global licensing agreement with Element Designs to enhance outdoor systems for commercial and public spaces. This partnership will incorporate smart building technologies to further reduce energy consumption and enhance visual appeal.
The company’s disinfection technology, particularly the PURONet Control System, integrates continuous and terminal disinfection methods to ensure optimal cleanliness in healthcare settings. This innovative system is especially significant for operating rooms, providing a seamless switch between continuous low-level disinfection and deep terminal cleaning.
Moreover, Applied UV has entered the hospitality market with its plans for Larimar City & Resort in the Dominican Republic, expected to generate $250 million to $300 million over 3-6 years. This multi-use development will benefit from Applied UV’s custom interiors and smart energy-saving solutions.
In March 2024, the company announced a patent application for a disinfection system utilizing multiple wavelengths, enhancing its already robust portfolio of healthcare solutions. This system aims to optimize environmental cleanliness, particularly in healthcare facilities.
Overall, Applied UV continues to drive innovation and develop smart building technologies across healthcare, hospitality, commercial, and municipal markets.
Applied UV (NasdaqCM: AUVI) reported strong growth in its 2021 financial results, with net sales increasing 103.5% to $11.67 million, largely driven by the expansion of its Disinfection segment. Key operational milestones include a three-year distribution agreement targeting 21,000 dental providers in Scandinavia and entry into the prison market. Despite a net loss of $7.39 million due to increased operational expenses and acquisitions, the company bolstered its balance sheet with $19.3 million from public offerings. Initiatives like the government-backed "Clean The Air" program position AUVI for future growth.
Applied UV, Inc. (NASDAQ: AUVI), a company specializing in pathogen elimination technology, will host an investor conference call and live webcast on April 7, 2022, at 9:00 am ET. The call will review the company's Fourth Quarter and Year End 2021 financial results, available in the Investor Relations section of their website. Interested investors can join via a provided link and are encouraged to call in using designated numbers for domestic and international participation. A replay will be accessible online for a week following the event.
Applied UV, Inc. (Nasdaq: AUVI) has authorized a cash dividend of
Applied UV, Inc. (NASDAQ: AUVI) announces its participation in the Hotels, Restaurants and Catering (HRC) 2022 event in London from March 21-23, showcasing its air purification products, including the Airocide and Scientific Air Management systems. Keith Frein, VP of International Sales, emphasizes the importance of these technologies in safeguarding hospitality environments as they recover from the pandemic. HRC, a premier event for hospitality professionals, is expected to attract over 30,000 visitors, enhancing Applied UV's visibility in the industry.
Applied UV (AUVI) has authorized a common share repurchase program to buy back up to one million shares, representing 13.5% of its public float. This initiative signals the company's commitment to enhancing shareholder value, supported by a strong balance sheet. Interim CEO Max Munn emphasized that the program reflects the company's strategic priorities and growth expectations for 2022. The repurchase program is effective immediately, with the management team authorized to conduct open market repurchases until September 30, 2022.
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.
Applied UV (NASDAQ: AUVI) announced its Annual Stockholders Meeting will occur virtually at 1 PM EDT on May 17, 2022. This meeting is crucial as the company failed to hold an annual meeting in 2021, which put it out of compliance with Nasdaq Rule 5620(a). Nasdaq has granted an extension, allowing the company to regain compliance post-meeting. Applied UV focuses on pathogen elimination through its subsidiaries, SteriLumen and Munn Works, and uses UVC technology for surface and air purification.
Applied UV (NASDAQCM: AUVI) announces a three-year agreement with Plandent Division for the distribution of Airocide® air purification systems in the dental community, starting in Finland and expanding throughout Scandinavia and Europe. With an estimated 21,500 dental practices in Scandinavia, this partnership aims to enhance air quality and protect staff and patients from airborne pathogens, especially in light of recent health concerns like COVID-19. Max Munn, President and Interim CEO, emphasized the significance of improved air quality in dental environments.
Applied UV (NASDAQ:AUVI) has authorized a cash dividend of $0.21875 per share for holders of its 10.5% Series A Cumulative Perpetual Preferred Stock (NASDAQ:AUVIP). The dividend payment is scheduled for on or about March 15, 2022, to shareholders of record as of March 4, 2022. The company focuses on pathogen elimination technologies through UVC light, targeting healthcare and other sectors.
Applied UV (NASDAQ:AUVI) has praised the new CMS policy from February 4, 2022, aimed at improving air quality in long-term care facilities. This policy allows providers to access up to $3,000 in civil monetary penalty (CMP) reimbursement funds per facility for air quality upgrades to reduce COVID-19 spread. The company highlights that its highly tested air purification technology effectively eliminates airborne pathogens, enhancing safety in healthcare environments. With approximately 60,000 long-term care facilities in the U.S., Applied UV is positioned to benefit from this initiative.
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