UPS Executive, Jim Lambis to join Spectaire Board of Directors

Rhea-AI Summary

Spectaire Holdings has appointed Jim Lambis, VP Buildings and Systems Engineering at UPS International, to its board of directors. Lambis' extensive expertise in emissions management, logistics, strategic planning, and systems engineering is expected to bolster Spectaire's commercialization efforts and operational efficiencies.

CEO Brian Semkiw highlighted Lambis' strategic knowledge as key to scaling the business and expanding market reach. The global air quality monitoring system market, valued at $5.1 billion in 2022, is projected to grow to $8.9 billion by 2030, driven by regulatory pressures and environmental sustainability awareness.

Positive

• Jim Lambis' appointment to the board is expected to enhance strategic planning and operational efficiencies.
• Lambis' background in emissions management and logistics aligns with Spectaire's core business, potentially accelerating commercialization.
• The global air quality monitoring market is slated to grow from $5.1 billion in 2022 to $8.9 billion by 2030, indicating strong market potential for Spectaire.

Negative

• The press release does not provide specifics on immediate financial impacts or quantified gains from the appointment.

WATERTOWN, Mass., July 09, 2024 (GLOBE NEWSWIRE) -- Spectaire Holdings Inc. (NASDAQ: SPEC) (“Spectaire” or the “Company”), a pioneer in environmental measurement technology, today announced the appointment of Jim Lambis to the Company’s board of directors.

Lambis currently serves as VP Buildings and Systems Engineering at UPS International. Lambis brings a wealth of experience in emissions management, logistics, strategic planning, and systems engineering, making him a valuable addition to the Spectaire board.

“Jim brings a wealth of knowledge and a proven track record,” stated Brian Semkiw, CEO of Spectaire. “His strategic expertise and extensive experience will be invaluable as we accelerate our commercialization efforts, and his ability to optimize systems and drive operational efficiencies should provide significant value as we scale our business and expand our market reach.”

The global market for air quality monitoring systems is experiencing significant growth, driven by increasing regulatory pressures and a growing awareness of environmental sustainability. According to Grandview Research, the air quality monitoring system market was valued at $5.1 billion in 2022 and is forecast to surpass $8.9 billion by 2030, growing at a compound annual growth rate of 7.2%.

About Spectaire Holdings Inc.

Spectaire is at the forefront of air quality and emissions reduction technology. With a relentless focus on innovation and environmental sustainability, Spectaire is committed to helping industries monetize their investments in emissions mitigation to the benefit of their businesses, the economy, and the environment.

For additional information, contact:
IR@spectaire.com

Dave Gentry, CEO
RedChip Companies, Inc.
1-407-644-4256
SPEC@redchip.com

Forward-Looking Statements

This release contains certain forward-looking statements within the meaning of the federal securities laws. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “would,” “will continue,” “will likely result” and similar expressions.

The forward-looking statements are based on the current expectations of the management of Spectaire and are inherently subject to uncertainties and changes in circumstances and their potential effects and speak only as of the date of such statement. There can be no assurance that future developments will be those that have been anticipated. Forward-looking statements reflect material expectations and assumptions, including, without limitation, expectations, and assumptions. Such expectations and assumptions are inherently subject to uncertainties and contingencies regarding future events and, as such, are subject to change. Forward-looking statements involve a number of risks, uncertainties or other factors that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those discussed and identified in public filings made by Spectaire with the U.S. Securities and Exchange Commission (the “SEC”) and the following: Spectaire’s ability to operate as a going concern; Spectaire’s requirement of significant additional capital; Spectaire’s limited operating history; Spectaire’s history of losses; Spectaire’s ability to attract qualified management; Spectaire’s ability to adapt to rapid and significant technological change and respond to introductions of new products in order to remain competitive; the loss of, or nonperformance by, one or more significant customers; disruptions of Spectaire’s manufacturing operation; changes in governmental regulations reducing demand for Spectaire’s products or increasing Spectaire’s expenses; the effects of global health crises on Spectaire’s business plans, financial condition and liquidity; changes or disruptions in the securities markets; legislative, political or economic developments; Spectaire’s failure to obtain any necessary permits or comply with laws and regulations and other regulatory requirements; accidents, equipment breakdowns, labor disputes or other unanticipated difficulties or interruptions; potential cost overruns or unanticipated expenses in development programs; potential legal proceedings; and Spectaire’s failure to obtain or maintain insurance covering all of Spectaire’s operations.

Should one or more of these risks or uncertainties materialize or should any of the assumptions made by the management of Spectaire prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements.

All subsequent written and oral forward-looking statements concerning matters addressed herein and attributable to Spectaire or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements contained or referred to herein. Except to the extent required by applicable law or regulation, Spectaire undertakes no obligation to update these forward-looking statements to reflect events or circumstances after the date hereof to reflect the occurrence of unanticipated events.

FAQ

Who has been appointed to Spectaire's board of directors?

Jim Lambis, currently serving as VP Buildings and Systems Engineering at UPS International, has been appointed to Spectaire's board of directors.

What relevant experience does Jim Lambis bring to Spectaire?

Jim Lambis brings expertise in emissions management, logistics, strategic planning, and systems engineering to Spectaire's board.

How might Jim Lambis' appointment impact Spectaire's business?

Lambis' strategic and operational expertise is expected to help Spectaire accelerate its commercialization efforts and improve operational efficiencies.

What is the market outlook for air quality monitoring systems?

The market for air quality monitoring systems is expected to grow from $5.1 billion in 2022 to $8.9 billion by 2030, driven by regulatory pressures and environmental sustainability awareness.