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, a company listed on NASDAQ under AUVI, has announced its participation in two significant conferences scheduled for May 2023. The first event is the Aegis Capital Virtual Conference from May 2-4, where management will present virtually on May 2 at 11:00 a.m. ET. The second event is the Inaugural EF Hutton Global Conference taking place on May 10-11 at The Plaza Hotel in New York City, featuring 1x1 meetings. Applied UV specializes in advanced pathogen elimination and disinfection technologies aimed at improving indoor air quality through its subsidiaries, SteriLumen and MunnWorks. The company offers a wide range of products, including LED lighting and luxury furnishings, serving various sectors globally. For inquiries, attendees can contact Brett Maas or Vince Curatola via provided email addresses.
Applied UV (AUVI) declared a cash dividend of $0.21875 per share for its 10.5% Series A Cumulative Perpetual Preferred Stock (AUVIP). The dividend will be paid on May 15, 2023, to shareholders of record by May 4, 2023. This announcement follows the company's ongoing commitments to enhance indoor air quality and offers a range of patented pathogen elimination technologies alongside their LED lighting and luxury furnishings. Applied UV serves various sectors globally, including healthcare and hospitality, ensuring a strong market presence with numerous strategic partnerships. The company emphasizes its ongoing efforts to improve shareholder returns.
Applied UV, Inc. (NASDAQ: AUVI) released a shareholder letter detailing accomplishments in 2022 and a focus for 2023. The company acknowledged past missteps, particularly related to the acquisition of Scientific Air, and mentioned a substantial write-down. Despite challenges such as supply chain disruptions and geopolitical tensions, the company aims for accelerated growth, driven by an expected $9 billion UV disinfection market by 2027. Applied UV raised $34.6 million in equity and $10 million in non-dilutive debt, facilitating four acquisitions. With recent additions, it anticipates revenue between $45-50 million in FY 2023. The company emphasizes its commitment to improving indoor air quality and enhancing partnerships with Fortune 100 companies to drive sales.
Applied UV, Inc. has announced a renewed agreement with mfPHD, LLC for the installation of its PURONet UV Disinfection Control System in 16 operating rooms at The University of Texas, San Antonio. This state-of-the-art system aims to enhance pathogen elimination in hospital settings where cleanliness is critical. With proven efficacy against dangerous pathogens like C. auris, the system is expected to improve infection control and supports the ongoing investments in public health infrastructure in the U.S. The partnership is anticipated to increase installations across various healthcare facilities, aligning with the growing focus on infection prevention.
Applied UV, Inc. has appointed Eugene Burleson as Chairman of the Board, following the acquisition of Puro Lighting, LLC and LED Supply Co. Max Munn has been promoted to CEO and President. The management team now includes Brian Stern and Andrew Lawrence, co-founders of Puro. The company has established a Global Scientific Advisory Board featuring leaders in medicine and viticulture, including Dr. Bernard C. Camins and Dr. Christopher E. Mason. This strategic leadership shift aims to enhance the effectiveness of its pathogen elimination technologies and boost market penetration. The advisory board will contribute expertise in educating potential clients about Applied UV's air and surface disinfection solutions, supporting the company's commitment to improving indoor air quality across various sectors.
Applied UV (AUVI) reported a 73% increase in revenue, achieving $20.1 million for 2022 compared to $11.6 million in 2021. This growth was largely driven by its hospitality segment, which saw a 130% rise to $13.6 million due to strategic acquisitions and a rebound in hotel upgrades. The company completed the acquisition of Puro Lighting and LED Supply, effectively doubling its size. However, it faced a net loss of $16.6 million, attributed mainly to a non-cash impairment of goodwill/intangible assets and increased operational costs. Despite challenges, Applied UV anticipates revenue between $45 and $50 million in 2023.
Applied UV, Inc. (AUVI) has expanded its collaboration with Canon Financial Services to offer leasing options for its air and surface disinfection technologies. This partnership aims to enhance financial flexibility for Applied UV's clients, including its subsidiaries MunnWorks, LED Supply, SteriLumen, and PURO Lighting, which operate in the hospitality and healthcare sectors. The agreement reflects a strategic move to incorporate advanced cleaning solutions in daily operations, thereby increasing market share amid growing demand for improved indoor air quality. Company executives express optimism regarding this initiative's potential impact on sales and customer adoption.
Applied UV, Inc. (NASDAQ: AUVI) has authorized a cash dividend of
Applied UV, Inc. (AUVI) announced that the CDC has warned about the rapid spread of Candida auris in U.S. healthcare facilities, a significant health threat with a mortality rate of 30-60% for bloodstream infections. The company’s Sterilumen devices have been independently tested and proven to kill C. auris on surfaces in just 15 minutes. Their product, the Airocide® Air Purification System, is also effective against multi-drug resistant pathogens. Additionally, the LumiCide Surface and Drain Disinfection Systems are currently being trialed at the prestigious Mount Sinai Medical Center, with results expected in Q3 2023.
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