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, Inc. (AUVI) announced the appointment of Mike Riccio as Chief Financial Officer, effective April 5, 2021. Riccio brings over 25 years of experience, having served as CFO and Treasurer at Panasonic North America, where he improved financial performance significantly. His leadership will support Applied UV's growth strategy and enhance shareholder value. CEO Q Saeed emphasized the strength of the management team with Riccio's addition, positioning the company to drive revenue growth and tackle infection control technologies in various markets.
Applied UV, Inc. (NASDAQ:AUVI) will host an investor conference call on March 31, 2021, at 8:30 am ET to discuss its full-year 2020 financial results. The results will be accessible via the Investor Relations section of its website. Investors can join the call by dialing +1-888-506-0062 for domestic or +1-973-528-001 for international calls, using Conference ID #265920. The company specializes in infection control technologies using UVC light for disinfection and air purification, addressing pathogens in various high-traffic environments.
Applied UV, Inc. (AUVI) has partnered with the Boston Red Sox to install its Airocide® Air Quality-Improvement System at Fenway Park and JetBlue Park. This advanced air purification technology, developed from NASA's research, targets airborne pathogens, aligning with FDA guidance on reducing viral exposure risks. Installed in player areas, luxury suites, and fan congregating spots, the Airocide® system emphasizes a commitment to safety for players and fans alike. This collaboration marks significant growth potential for Applied UV in sports and public health sectors.
Applied UV (NASDAQ: AUVI) has finalized the acquisition of Akida Holdings LLC, acquiring the Airocide® air disinfection technology for 1.375 million shares and $901,274.96 in cash. The Airocide® system, developed with NASA, offers innovative pathogen elimination capabilities. Akida's 2020 revenue was approximately $4.7 million with an EBITDA of $921,000. This acquisition strengthens Applied UV's position in the disinfection device market, enhancing their product offerings and revenue growth potential while maintaining a commitment to innovative infection control solutions.
Applied UV (NasdaqCM:AUVI) announced a significant milestone with the European Union Patent Office allowing a patent for its core pathogen-destroying device. This patent strengthens the company's Intellectual Property (IP) portfolio aimed at combating healthcare-acquired infections (HAIs) in high-traffic areas like hospitals and hotels. With this addition, SteriLumen now holds multiple patents across the US and Europe, enhancing its potential for commercialization. Independent lab tests show the SteriLumen system effectively eliminates up to 99.99% of pathogens, addressing urgent global health challenges.
Applied UV, Inc. (NASDAQ: AUVI) announced the appointment of Rhonda A. Wallen as Vice President of Product Marketing & Corporate Development. Wallen, with over 20 years in the healthcare industry, will focus on expanding the Company's commercial capabilities, including acquisitions and strategic partnerships. Previously, she led Corporate Development at Terumo BCT and served in executive roles at Andarix Pharmaceuticals and Caveo Therapeutics. CEO Q Saeed expressed confidence in Wallen's ability to contribute to Applied UV's growth strategy, leveraging her experience to enhance product offerings.
Applied UV, Inc. (NASDAQ:AUVI) recently appointed Robert Berger as Vice-President Global Sales, effective December 7, 2020. With over 20 years of experience in sales leadership, Berger will drive the company's sales strategy, leveraging his history of success in technology and business development. CEO Q Saeed highlighted Berger's ability to lead and expand into new markets. Berger's past achievements include significant revenue growth at Zivaro, Inc. and executive roles at Hughes Cloud Services and others. Applied UV focuses on UVC technology for infection prevention in various sectors.
Applied UV has received approval from the U.S. Patent and Trademark Office for a patent related to a UVC sanitizing device designed for ATMs. This system will disinfect surfaces commonly touched by users, such as keyboards and screens. The patent represents a significant opportunity for the company to enter the banking industry with their sterilization technology. With 8 issued patents in its portfolio, Applied UV aims to tackle infection prevention across various sectors. The patented technology has proven effective against pathogens including human coronaviruses.
Applied UV (NASDAQ:AUVI) has successfully completed a public offering of 1,401,905 shares at $5.25 per share, raising $7,360,001.25 in gross proceeds. This includes the full exercise of the underwriter's overallotment option. Following the offering, the company's cash position stands at approximately $13 million, free of debt. Applied UV focuses on infection prevention technology utilizing UVC light to eliminate pathogens. Their products have demonstrated over 99.99% effectiveness against the OC43 coronavirus strain.
Applied UV, Inc. (NASDAQ:AUVI) has signed a non-binding letter of intent to explore acquiring certain assets of Akida Holdings LLC, including the Airocide™ air purification technology, for up to $12 million. The acquisition aims to facilitate applications across various sectors, including healthcare and hospitality. The Airocide™ system, developed for NASA, demonstrates efficacy in eliminating airborne pathogens and has gained widespread use among notable brands. This transaction is contingent upon due diligence, board approvals, and the negotiation of a definitive agreement.
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