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 (NASDAQ:AUVI) announced a new purchase order through its subsidiary, SteriLumen, from Insightra Medical for the Airocide™ air purification system at the Dubai Creek Golf & Yacht Club Resort. The second phase includes 54 Airocide™ units for the resort’s Park Hyatt-managed vacation villas. A third phase to install SteriLumen UVC sterilization devices is planned. This initiative aims to validate the effectiveness of the technology and expand its offerings to hotels globally. The FDA has recognized the Airocide™ system for its ability to reduce viral exposure risks.
Applied UV (NASDAQ:AUVI) announced a non-binding letter of intent to acquire key assets from Akida Holdings, including rights to the Airocide™ air purification system, potentially valued at $12 million in stock. This acquisition aims to enhance infection prevention technology in sectors like healthcare and hospitality, leveraging Airocide's proven ability to eliminate airborne pathogens. The deal is contingent on due diligence and board approvals, with no guarantee it will finalize by the March 2021 deadline. Airocide is recognized for its effectiveness against various airborne microorganisms.
Applied UV, Inc. (NASDAQ:AUVI) announced an exclusive licensing and joint development agreement with Axis Lighting, Inc. to create innovative LED-based UV-C technologies targeting pathogen neutralization in hospitals across North America. The partnership aims to enhance healthcare environments by leveraging SteriLumen's patented disinfection technology and Axis Lighting's industry expertise. Royalties will be paid to SteriLumen on sales of developed products, signifying a strategic move to address the growing demand for efficient infection prevention solutions.
Applied UV (NASDAQ: AUVI) announced that its subsidiary, SteriLumen, has filed a patent application for a UV light sanitizing solution retrofittable to ATMs, aimed at disinfecting surfaces like keyboards and touchscreens. This technology addresses pathogen transmission on commonly touched surfaces, notably ATMs, which numbered approximately 470,000 in the U.S. as of 2018. The company emphasizes that SteriLumen's UVC devices effectively neutralize pathogens such as E. coli and coronavirus, enhancing their patent portfolio to address public health concerns.
Applied UV, Inc. (NasdaqCM:AUVI) announced that its subsidiary, SteriLumen, secured a purchase order for its patented Airocide™ Air Quality-Improvement™ System at the Dubai Creek Golf & Yacht Club Resort. This installation will enhance air purification in various public spaces and residential villas, aimed at combating airborne pathogens. The Airocide system, leveraging NASA technology, is FDA classified and clinically proven to effectively eliminate harmful microorganisms. This partnership highlights SteriLumen's role as a key player in the hospitality sector across the U.S. and the Greater Middle East.
Applied UV (NASDAQ:AUVI) announced that its subsidiary, SteriLumen, installed its Disinfecting System in the first of 17 patient bathrooms at Mount Sinai's Morningside Hospital. This installation supports a study to validate the technology's effectiveness against pathogens, including human coronaviruses. Results are expected by Q2 2021, with findings to be published in a peer-reviewed journal. Previous reports indicated that SteriLumen can effectively reduce pathogens by over 99.99%. CEO Q Saeed emphasized the milestone of deploying their technology in a top U.S. medical institution.
Applied UV (NASDAQCM:AUVI) has announced that its subsidiary, SteriLumen, will serve as the exclusive distributor of the Airocide Air Quality-Improvement System in the U.S. and Greater Middle East. The Airocide system, originally developed for NASA, effectively eliminates airborne pathogens and is FDA Class II listed. The partnership aims to enhance indoor air quality in the hospitality sector, vital during the ongoing pandemic. Financial details of the agreement were not disclosed.
Applied UV, Inc. (NasdaqCM:AUVI) successfully closed its initial public offering of 1,000,000 shares at $5.00 each on September 2, 2020, plus an additional 150,000 shares from the underwriter's overallotment. The total gross proceeds amounted to $5.75 million before expenses.
The company's products utilize UVC technology for pathogen destruction and demonstrated effectiveness against the OC43 coronavirus, likely extending to SARS-CoV-2. Applied UV aims to address infection prevention across multiple sectors including healthcare and hospitality.
Applied UV, Inc. (NasdaqCM:AUVI), an infection prevention technology company, announced the exercise of an overallotment option for its IPO, allowing Network 1 Financial Securities to purchase an additional 150,000 shares at $5.00 each. The IPO began trading on August 31, 2020, and is set to close on September 2, 2020. Applied UV’s technology utilizes UVC light to eliminate pathogens, with laboratory tests showing effectiveness against the OC43 human coronavirus, which is similar to SARS-CoV-2. The company operates two subsidiaries focused on healthcare and hospitality sectors.
Applied UV, Inc. (NASDAQ:AUVI) has priced its initial public offering (IPO) at $5.00 per share, offering 1,000,000 shares and aiming for gross proceeds of approximately $5 million. The IPO is set to close on September 2, 2020, pending customary conditions. Network 1 Financial Securities, Inc. leads the underwriting team and has an option for an additional 150,000 shares for over-allotments. The company focuses on infection prevention utilizing UVC technology to combat pathogens, with promising testing results against the coronavirus.
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