In a decisive response to extraordinary market demand, Spectaire
Holdings Inc. (NASDAQ: SPEC), a pioneer in environmental
measurement technology, has announced a significant expansion of
its manufacturing capabilities, aiming to achieve a production rate
of 500 AireCore units per month by August 2024. This expansion
strategy is in direct reaction to the exceptional demand that
resulted in the complete sell-out of its inventory from February to
August 2024.
Robust Production Increase to Address Surging Market
Needs
In an era where emissions reduction is not just a goal but
a necessity, Spectaire's AireCore units, notably in the trucking
and the recently expanded Oil & Gas sectors, have been reserved
several months ahead. To meet this extraordinary demand and
guarantee prompt delivery to its clientele, Spectaire is
substantially upgrading its production facilities.
During a recent visit to Coghlin Companies, Spectaire's
leadership, including CEO Brian Semkiw, CTO Dr. Brian Hemond, other
company directors, and a principal customer, observed the ambitious
expansion efforts. "Elevating our production to 500 units monthly
by August 2024 is a significant achievement for Spectaire. It
signifies our dedication to fulfilling customer requirements and
our vital role in the global effort to reduce emissions," Semkiw
asserted.
Fully Pre-Sold Inventory: Evidence of Robust Market
Demand
The announcement that Spectaire's entire stock from February to
August 2024 has been pre-sold highlights the urgent market need for
efficient emissions control solutions. This milestone has motivated
Spectaire to reopen its pre-order process to accommodate the
escalating demand.
Gregory Hancke of MLab, a leading system provider in Germany,
emphasized the importance of AireCore units in tackling Real Drive
Emissions (RDE) challenges, particularly with the impending Euro 7
standards. "The European market's keen interest in the AireCore
units underscores our commitment to providing innovative solutions
that adhere to strict emissions regulations."
Moreover, Spectaire acknowledges the collaboration with partners
and customers in developing the latest Oil & Gas units. "Our
capacity to increase production underscores the collaborative
success with our partners, facilitating the rapid introduction of
cutting-edge functionalities," Dr. Brian Hemond, CTO of Spectaire,
commented.
This production landmark reflects Spectaire's expanding
influence across diverse industries and new markets, demonstrating
the company's dedication to delivering unparalleled value through
its innovative solutions. With flexible subscription plans ranging
from $100 monthly to $10000 annually per unit, Spectaire is set to
make a significant impact on global emissions reduction
efforts.
For additional information,
contact:IR@spectaire.com
About Spectaire Holdings Inc.: Spectaire
Holdings Inc. https://www.spectaire.com (NASDAQ: SPEC), stands 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.
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.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/12992c72-ca58-45c8-ad32-cf105988295b
https://www.globenewswire.com/NewsRoom/AttachmentNg/77555008-e6c5-40f6-aee3-f453529a7077
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