SinglePoint Enters into Letter of Intent to Acquire Box PureAir, LLC with Established Multi-State Exclusive and International Rights to Sell AIRBOX, a High-Proficiency Energy Efficient Air Purification Technology

Rhea-AI Summary

SinglePoint Inc. (OTC: SING) announced a letter of intent to acquire Box PureAir, LLC, which holds exclusive rights to the AIRBOX air purification technology. AIRBOX meets multiple government standards, including FDA and DOE requirements, and aims to enhance air quality in schools and businesses amid the COVID-19 pandemic. The company has submitted bids exceeding $50 million for installations in various states. This acquisition aligns with SinglePoint's strategy to expand its renewable energy solutions and leverage synergistic partnerships for growth.

Positive

• Acquisition of Box PureAir enhances SinglePoint's product offerings in air purification.
• AIRBOX technology meets crucial government standards and is poised for significant demand as schools reopen.
• The company has submitted bids exceeding $50 million, indicating strong market interest.
• SinglePoint's operations expanded from 10 to 38 states in the past year, showcasing growth potential.

Negative

• None.

PHOENIX, Feb. 25, 2021  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 entered into a letter of intent (the "LOI") to acquire Box PureAir, LLC with established multi-state exclusive and international rights to sell AIRBOX, a high-proficiency energy-efficient air purification technology. Box PureAir has signed exclusive master distribution rights for AIRBOX.

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 DOE (Department of Energy) requirements, and OSHA, CDC, and ASHRAE conformance. AIRBOX is UL listed and uses only CERTIFIED HEPA filters in all its Safe Air Plan applications. As schools across the country look for ways to improve the air quality through their buildings, Box PureAir will be working to provide the safest most cost-effective solution that provides a better air quality environment to every teacher and student. To date, Box PureAir has submitted bids in excess of $50 Million to schools across Florida, North Carolina, Texas, and more.

"AIRBOX's state-of-the-art air-purifier technology has the potential to be the solution as schools and businesses begin to reopen. With their scientifically proven air purifiers, AIRBOX is well-positioned to meet the rapidly growing demand to keep the air in facilities clean, while satisfying recommendations for clean air exchanges by the CDC and Government Authority in schools and businesses. The AIRBOX technology can move 425 cubic feet per minute through their midsize unit, the Peak Series-S, a 100% USA-made industry-leading product and will be a driving force in helping to reopen schools and businesses and provide confidence in the air quality in shared spaces," commented Wil Ralston, President of SinglePoint. "We are pleased to have Box PureAir join the SinglePoint vision and believe AIRBOX will be a key asset in our industry-leading toolkit as we advance our leadership position in renewable energy solutions."

The current administration has announced the idea of reopening schools in as little as 100 days. The Company believes Box PureAir can help achieve this goal as this highly proficient and versatile product is quickly deployed and capable of being plugged into any standard outlet. With solutions ranging from individual rooms to large commercial spaces, Box PureAir can quickly provide clean air in rooms through ready-to-deploy, stand-alone customizable floor units. Utilizing multi-filtration options, customers can choose their filter stack to include antimicrobial filters with Microband Technology, Carbon prefilters, or a combination. Every AIRBOX is finished with a Certified HEPA filter and tested before leaving the factory.

The AIRBOX Peak Series-S is a portable industrial-grade air purifier that uses activated carbon, antimicrobial, and Certified HEPA Filtration to provide 99.99% pure air. Additionally, it is made with the only micro-shield protection on the market. This protection is rooted in the material and makes it bacteria resistant. AIRBOX is built, and certified to government standards, and meets DOE requirements. Completing the highest quality workmanship, every Certified HEPA filter that leaves the factory is tested to meet IEST certifications, marked with performance ratings, and manufactured 100% in America.

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.

The average size of a classroom is 1024 sq ft and has 10 ft ceilings. This equates to 10,240 cubic feet. The Peak Series AIRBOX is capable of 'cleaning' the air in this whole classroom every 24 minutes. This is important because most schools recommend a break every 50 minutes so this will 'clean' twice in that time. Each Peak Series unit is just 13 x 13.5 x 27.75 and uses just a fraction of energy compared to its competitors. This makes it discreet and feasible to have multiple per room to create any number of air turnovers a customer would need.

Currently, legislators are working on a bill that would provide approximately $190 Billion for reopening schools, much of which would involve solving the air quality issue that exists in schools across the country. A recent article in the Washington Post stated, 40% of school districts "need to update or replace HVAC systems in at least half of the school buildings, affecting 36,000 school buildings nationwide." 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 schools start to look for solutions to reopen and improve air quality within classrooms, Box PureAir is providing the solution.

SinglePoint has taken catalytic steps in transforming the traditional solar energy model and is committed to growing its national footprint. This highly scalable business model has enabled the Company to expand from ten to 38 states in the past year, alone. Through the execution of this model, the Company is leveraging synergistic acquisitions and partnerships to generate revenue in the solar industry by providing renewable energy solutions to consumers and small businesses.

With its initial focus on solar energy, the SinglePoint is building a foundation for future expansion opportunities including energy storage, charge points for electric vehicles, and solar as a subscription. The Company plans to become the single point for a customer's energy and efficiency needs, to drive cleaner healthier living through environmental improvement.

The parties to the agreement are working towards a quick close to this transaction. The Transaction is subject to customary operational, financial, and legal due diligence and the successful execution of the sale and purchase agreements. The Transaction is an arm's length transaction and pursuant to the terms of the LOI the parties intend to sign a definitive agreement (the "Definitive Agreement").

About Box Pure Air, LLC

Box Pure Air 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

 

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SOURCE SinglePoint Inc.

FAQ

What is SinglePoint's recent acquisition?

SinglePoint has entered a letter of intent to acquire Box PureAir, LLC, which specializes in air purification technology.

How much has Box PureAir bid for projects?

Box PureAir has submitted bids exceeding $50 million for air purification installations in schools.

What technology does Box PureAir provide?

Box PureAir provides AIRBOX, a high-efficiency air purification technology that meets various government standards.

How does AIRBOX improve air quality?

AIRBOX can significantly enhance air quality by purging respiratory aerosols and exceeding ASHRAE air exchange requirements.

How is SinglePoint expanding its operations?

SinglePoint has expanded its operations from 10 to 38 states in the past year, focusing on renewable energy solutions.