Applied
UV Issues Letter to Shareholders
NEW YORK, NY – July 19th, 2023 –
InvestorsHub NewsWire -- Applied UV, Inc. (NASDAQ:
AUVI), a top Smart Buildings Technologies
provider (including food security), announces shareholder
letter.
Dear Applied UV Inc.
Shareholders,
We are pleased to provide an update
on the recent progress and achievements of Applied UV, Inc. We are
proud to report a record company backlog of over $22 million as of
June 30, 2023, and we are on track to hit our revenue targets of
$45-50 million for 2023. Our partnership with Canon continues to
expand, providing valuable support in product development, contract
manufacturing, sales and marketing, and customer financing
options.
Our Healthy Building Technologies
Division has seen significant growth, thanks to the successful
acquisition of PURO and LED Supply Co. This division now boasts a
substantial backlog of roughly $7.4 million as of June 30, 2023,
the largest in its history, validating our acquisition strategy and
the division's growth potential. Puro's partnership with industry
leader, MFPHD has increased our hospital deal flow, particularly in
the Surgical Suite. The division, comprising PURO, LED Supply Co,
and Sterilumen, continues to gain recognition in the marketplace,
helping to reinforce our position in Food Preservation Tech, Air
Disinfection, Surface Disinfection, and commercial lighting and
building control solutions.
The recently established
Ethylene Oxide (ETO) Abatement
requirements by the EPA, have created an opportunity for
significant growth utilizing our Airocide technology which has the
capability to effectively remove ETO. This opens up an entirely new
industry application for our proprietary Airocide technology.
Industries that use or produce Ethylene Oxide, such as
sterilization processes in healthcare, pharmaceuticals, and
agriculture, can now benefit from our innovative ETO destruction
technology. This not only broadens our reach but also positions us
as a solution provider for industries facing these new stringent
environmental regulations.
In addition, the escalating problem
of wildfires across the US has dramatically increased the need for
effective air purification technologies. PURO'S™ new SL600H HEPA
& Carbon air purifier has emerged as a leading solution,
testing in the top 1% of all Energy Star air purifiers for Clean
Air Delivery Rate. This achievement is not only a testament to our
technological prowess but also a timely response to the urgent need
for improved indoor air quality. As wildfires continue to impact
air quality, the demand for our advanced air purification solutions
is expected to grow. We remain committed to providing effective
solutions that not only improve indoor air quality but also ensure
environmental compliance, further solidifying our position as a
leader in the air purification industry.
Our Hospitality Division is
experiencing unprecedented growth, with current orders and orders
in process totaling approximately $14-$15 million. This includes an
order underway and valued at over $4 million with a leading hotel
brand, marking the largest backlog in the company's history. This
represents over 300% year-over-year growth, underscoring the
success of our strategic expansion and our ability to meet the
evolving needs of the hospitality and leisure industry. The
combination of hospitality case goods with electrified and lighted
mirrors has proven to be a winning formula, leading to increased
revenue per customer. This integration of product lines has allowed
Applied UV to offer comprehensive solutions to its hospitality
clients, enhancing customer satisfaction and driving revenue
growth.
We believe, the growth and
achievements of the Hospitality Division, fueled by our significant
investments in domestic production, have solidified Applied UV's
reputation as a trusted domestic partner and supplier in the
hospitality and leisure sectors. Our client's concern over
dependency on international production for the opening of their
hotels has become a major driver for our continued revenue growth.
Our investment in this space is starting to pay off,
demonstrating the effectiveness of our strategic approach. The
combination of our resources, capabilities, and industry expertise
has resulted in synergies that are driving the Hospitality
Division's growth and success.
While the microcap stock space has
faced significant challenges over the past year, Applied UV stands
on solid ground. Despite the broader market turbulence, our company
has strengthened its balance sheet, executed strategic and
diversified investments, and introduced innovative technological
advancements, all of which support our expectations for continued
robust growth. We believe that the current market valuation does
not fully reflect the momentum we have built and the breakthroughs
we are achieving with our technology. As we continue to innovate
and execute our growth strategy, we are confident that the true
value of our company will be recognized, offering significant
potential for value appreciation.
We thank you for your continued
support and look forward to sharing more updates in the
future.
Best Regards,
Max Munn
CEO
Applied UV, Inc.
About Applied
UV
Applied UV, Inc.
provides proprietary technology focused on global food security,
air quality, and specialty building solutions for the commercial
and hospitality industries., For information on Applied UV, Inc.,
and its subsidiaries, please visit
https://www.applieduvinc.com.
Forward-Looking
Statements
The information contained herein may
contain "forward-looking statements." Forward-looking statements
reflect the current view about future events. When used in this
press release, the words "anticipate," "believe," "estimate,"
"expect," "future," "intend," "plan," or the negative of these
terms and similar expressions, as they relate to us or our
management, identify forward-looking statements. Such statements
include, but are not limited to, statements contained in this press
release relating to the view of management of Applied UV concerning
its business strategy, future operating results and liquidity and
capital resources outlook. Forward-looking statements are based on
the Company's current expectations and assumptions regarding its
business, the economy and other future conditions. Because
forward–looking statements relate to the future, they are subject
to inherent uncertainties, risks and changes in circumstances that
are difficult to predict. The Company's actual results may differ
materially from those contemplated by the forward-looking
statements. They are neither statements of historical fact nor
guarantees of assurance of future performance. We caution you
therefore against relying on any of these forward-looking
statements. Factors or events that could cause the Company's actual
results to differ may emerge from time to time, and it is not
possible for the Company to predict all of them. The Company cannot
guarantee future results, levels of activity, performance, or
achievements. Except as required by applicable law, including the
securities laws of the United States, the Company does not intend
to update any of the forward-looking
statements. References and links to websites have
been provided as a convenience, and the information contained on
such websites is not incorporated by reference into this press
release.
For additional
Company Information:
Applied UV
Inc.
Max Munn
Applied UV Founder, CEO &
Director
Max.munn@applieduvinc.com
Investor Relations
Contact:
TraDigital IR
Kevin
McGrath
+1-646-418-7002
kevin@tradigitalir.com