Spectaire Announces Shipment of First Commercial Units and Manufacturing Partnership With Columbia Tech
November 29 2023 - 7:00AM
Spectaire Holdings Inc. (NASDAQ: SPEC) (“Spectaire” or the
“Company”), a provider of innovative air quality monitoring and
emissions reduction services, announced that it has shipped its
first commercial units from manufacturing partner, Columbia Tech, a
subsidiary of Coghlin Companies.
The outsourcing of manufacturing to Coghlin
Companies significantly reduces the ramp-up time and capital
requirements to initiate the scaled production of AireCore™,
Spectaire’s patented micro-mass-spectrometer. Aligning with an
experienced commercialization partner allows Spectaire to focus on
delivering units to its customers at scale without investing in the
significant overhead of additional facilities, machinery, staff,
and other complex infrastructure required to vertically integrate
manufacturing. Ahead of the imminent start of the series production
and subsequent delivery to customers, Coghlin Companies has already
manufactured 40 units for Spectaire and shipped the first units to
its customers.
“Working with Coghlin Companies in the mass
production of AireCore™ completes a significant personal
milestone in the journey of inventing portable and accessible mass
spectrometry,” said Dr. Brian Hemond PhD, Chief Technology Officer
of Spectaire. “This relationship ensures my team and I are able to
focus completely on innovating the future of Spectaire.”
“Spectaire is experiencing demand for our
technology which has outpaced our internal production capability,”
said Brian Semkiw, CEO of Spectaire. “Working together with Coghlin
Companies provides a pathway to producing tens of thousands of
instruments to meet the needs of our transportation and energy
markets while our scientists innovate to expand the use of our
product in other industries.”
“We are thrilled to have been selected as
Spectaire’s trusted commercialization partner,” said Chris Coghlin,
President and CEO of Coghlin Companies. “We are dedicated to
providing world-class Time-to-Market services to the most
innovative companies in the world and look forward to becoming a
true extension of the Spectaire team, helping them deliver the
highest quality products to market.”
For more information, please visit the Company’s
investor relations website at ir.spectaire.com.
About Spectaire
Spectaire (Nasdaq: SPEC) is a provider of air
quality monitoring and emissions reduction services. Spectaire is
dedicated to delivering effective solutions that help businesses
worldwide reduce their carbon footprint, with a focus on creating
high-quality, traceable carbon credits.
About Coghlin Companies
Coghlin Companies and its wholly owned
subsidiaries, Columbia Tech and Cogmedix, are a fourth generation,
privately held time to market services company providing
world-class product development, manufacturing, global fulfillment
and aftermarket services to a diversified group of capital
equipment innovators in the medical, life sciences, energy,
security, robotics and automation, communications, semiconductor
and LED industries. For more information, visit
www.coghlincompanies.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.
Press Contact: Chris Grossman,
CGrossman@Spectaire.com
Website: Spectaire.com
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