SinglePoint Completes Acquisition of Box PureAir, LLC to Sell AIRBOX, an American Made, High-Proficiency Energy Efficient Air Purification Technology

Rhea-AI Summary

On March 8, 2021, SinglePoint (OTC: SING) announced the completion of its acquisition of Box PureAir, initially disclosed on February 25, 2021. This strategic move allows SinglePoint to utilize Box PureAir's exclusive rights to sell the AIRBOX air purification technology, crucial for improving air quality in schools and commercial spaces. Box PureAir has over 200 representatives across multiple states and has submitted bids exceeding $50 million for educational institutions. The acquisition aligns with SinglePoint's mission to enhance health through renewable energy solutions.

Positive

• Acquisition of Box PureAir enhances market position in air purification, a growing sector.
• Box PureAir's AIRBOX technology meets stringent government standards and addresses air quality issues in schools.
• Over 200 representatives in several states expand market reach and sales potential.
• Bids exceeding $50 million submitted to schools indicate strong demand for air purification solutions.

Negative

• None.

PHOENIX, March 8, 2021 /PRNewswire/ -- SinglePoint Inc. (OTC: SING) ("SinglePoint" or the "Company"), a company focused on providing renewable energy solutions and energy-efficient applications to drive better health and living, announced today it has completed the acquisition of Box PureAir, LLC which was initially announced on February 25, 2021. With the acquisition completed, SinglePoint plans to leverage Box PureAir's established multi-state exclusive and international rights to sell AIRBOX: an industrial grade, American made, high-proficiency energy-efficient air purification technology. Box PureAir has signed exclusive master distribution rights for AIRBOX.

Box Pure Air now has over 200 reps through various partnerships in multiple states including Florida, South Carolina, North Carolina, Oregon, Washington, and Arizona. The company is headquartered in Charleston, South Carolina and continues to focus on schools and offices working towards returning to normal operations and continues to deliver solutions across multiple verticals. 

AIRBOX products are designed, built, and certified to government standards, and meet the FDA's enforcement policy guidelines for air purifiers during COVID-19, as well as Department of Education (DOE) requirements, and OSHA, CDC, and ASHRAE conformance. AIRBOX is UL listed and uses only CERTIFIED HEPA filters in all its Safe Air Plan applications. To date, Box PureAir has submitted bids in excess of $50 million to schools across Florida, North Carolina, Texas, and more.

As outlined in a recent article, schools will need to spend time and money improving airflow using HVAC systems, stand-alone HEPA air filtering systems or even just by opening windows if students, teachers and staff are to return safely to in-school learning. "The state of ventilation in schools in the United States right now is woefully inadequate," Richard Corsi, Dean of the College of Engineering and Computer Science at Portland State University, told a forum hosted by The Johns Hopkins Center for Health Security at the Bloomberg School of Public Health."¹ The American Society of Civil Engineers said nearly 41% of schools have issues with HVAC systems, which is a "significant concern."²

School facilities (K-12) represent the second largest sector of public infrastructure spending, after highways, and yet there is no comprehensive national data source on K-12 public school infrastructure. Available data indicates that 53% of public-school districts report the need to update or replace multiple building systems including HVAC systems. Meanwhile, public schools increasingly serve a secondary function as emergency shelters and community resource facilities during man-made or natural disasters, and facility upgrades are needed to effectively fulfill this important community purpose. Nearly 41% reported issues with HVAC systems, a significant concern for facilities where children routinely spend eight hours a day. In order to provide healthy and safe 21st century learning environments, it is estimated that the nation should be spending $87 billion per year on capital needs.³

"With poor ventilation, viral particles can build up in the air in a classroom, cafeteria or hallway. 'If you look at all the high-profile outbreaks -- same underlying factors -- no masks, low ventilation. It doesn't matter if it's spin class, ice hockey, camps, classrooms, choir practice or restaurants, (it's) the same underlying factors,' Joseph Allen, who directs the Healthy Buildings Program at the Harvard T.H. Chan School of Public Health."⁴

On Saturday, March 6^th, Legislators passed The American Rescue Plan⁵. The American Rescue Plan is designed to help quicken the United States' recovery from the economic and health effects of the COVID-19 pandemic and the ongoing recession. Within the American Rescue Plan is a stated $130 billion to safely reopen schools across the nation, including ventilation and improving indoor air quality (Indoor Clean Air, "IAQ") to create safe indoor environments with clean air. With the continued focus on improving IAQ and ventilation, Box PureAir is committed to providing a solution. Box PureAir has options in development for retrofit solutions into current HVAC systems that will improve the existing system and provide world-class air purification at reduced costs and necessary maintenance to these systems.

"As a company, we are striving to drive better living in health, primarily through providing renewable energy solutions. We believe clean air is an important expansion of our energy efficient environmental platform. While different than solar, we believe this acquisition represents a synergistic opportunity and has the potential to meet the present and growing demand for safe, cost-effective solutions that provide a better air quality environment to schools and commercial businesses. As parents, we should all ask ourselves if our children, teachers and administrators are breathing safe air at school. We believe that the AIRBOX product line, which was designed and engineered based off clean room protocols can provide increased ventilation and clean air to all common area indoor environments including schools. We now look forward to hitting the ground running with the Box PureAir team to help reopen schools and businesses and provide confidence in the air quality in shared spaces," commented Wil Ralston, President of SinglePoint.

AIRBOX's Dynamic Room Purge Technology significantly enhances existing room ventilation systems and can be installed in minutes. The AIRBOX technology purges respiratory aerosols, including bacterial and viral pathogens, from the Breathing Zone and has been scientifically proven to remove >99.99% of all particles, including SARS-CoV-2 (COVID-19).  The Dynamic Room Purge Technology increases the air exchange rate by 2-5 times, depending on the size of the room and the number of AIRBOX Purifiers deployed, far exceeding ASHRAE air exchange requirements of standard room ventilation systems alone. AIRBOX is regulated by the US Environmental Protection Agency and state governments as a pesticidal device. Accordingly, AIRBOX air purifiers are produced in an EPA-registered facility and packaged and labeled in accordance with EPA regulations under FIFRA section 2(q)(1) and 40 CFR Part 156.

SinglePoint and its subsidiaries are transforming the traditional solar energy model and is committed to growing its national footprint to create a true national network. With its initial focus on solar energy, the SinglePoint is building a foundation for future expansion opportunities including energy storage, energy efficient appliances and solutions that address remote power and that provide solutions for better, safer environments in the places we live, work, learn and play. The Company has previously announced its intention to build a national network of licensed installers that will leverage existing offerings, increasing revenues and efficiencies related to installation timelines but also have the ability to implement to deploy solutions and or products that have consumer and small business owner demand. Many of the solar installers carry multiple licenses within each state including HVAC and electrical in addition to solar.

The Company is leveraging synergistic acquisitions, products, and partnerships to generate revenue in the solar industry by providing renewable energy solutions to consumers and small businesses. The Company plans to become the single point for a customer's energy and efficiency needs, to drive cleaner healthier living through environmental improvement.

About Box PureAir, LLC

Box PureAir strives to provide the best products to help clean air through the deployment of high-efficiency air purification technologies. Learn more at www.boxpureair.com

About SinglePoint Inc.

SinglePoint Inc. is a renewable energy and sustainable lifestyle company focused on providing environmentally friendly energy efficiencies and healthy living solutions. SinglePoint is initially focused on building the largest network of renewable energy solutions and modernizing the traditional solar and energy storage model. The Company is also actively exploring future growth opportunities in air purification, electric vehicle charging, solar as a subscription service, and additional energy efficiencies and appliances that enhance sustainability and a healthier life. For more information, visit the Company's website (www.singlepoint.com) and connect on LinkedIn and Twitter.

Forward-Looking Statements

Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934 and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential plans and objectives of the Company, the spinoff of nonenergy related assets, qualification for a national exchange, and future expansion, are forward-looking statements that involve risks and uncertainties.

There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

Technical complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.

Investor Contact: 

JTC Team, LLC
Jenene Thomas
833-475-8247
SING@jtcir.com

---

¹ https://www.cbs58.com/news/cdc-must-encourage-better-ventilation-to-stop-coronavirus-spread-in-schools-experts-say
² Report: US schools receive D grade for infrastructure | K-12 Dive
³ School Infrastructure | ASCE's 2021 Infrastructure Report Card
⁴ https://www.cbs58.com/news/cdc-must-encourage-better-ventilation-to-stop-coronavirus-spread-in-schools-experts-say
⁵ https://www.whitehouse.gov/briefing-room/legislation/2021/01/20/president-biden-announces-american-rescue-plan/

View original content to download multimedia:http://www.prnewswire.com/news-releases/singlepoint-completes-acquisition-of-box-pureair-llc-to-sell-airbox-an-american-made-high-proficiency-energy-efficient-air-purification-technology-301242042.html

SOURCE SinglePoint Inc.

FAQ

What is the significance of SinglePoint's acquisition of Box PureAir?

The acquisition allows SinglePoint to sell AIRBOX air purification technology, addressing increasing demand for improved air quality in schools and other public spaces.

How much has Box PureAir bid for school air purification systems?

Box PureAir has submitted bids exceeding $50 million to various schools across multiple states.

What compliance standards does AIRBOX meet?

AIRBOX products comply with FDA guidelines, OSHA, CDC, and ASHRAE standards, ensuring high efficacy in air purification.

How does the AIRBOX technology improve air quality?

AIRBOX uses Dynamic Room Purge Technology to significantly enhance ventilation, scientifically proven to remove >99.99% of airborne particles, including COVID-19.