Applied UV Announces Order for The Renaissance Cleveland Hotel
May 13 2022 - 08:00AM
Business Wire
$2M Furnishings Order Expected Subject to
Initial “Model Room” Product Approval
Applied UV, Inc. (NasdaqCM: AUVI) (“Applied UV” or the
“Company”), a pathogen elimination technology company that applies
the power of narrow-range ultraviolet light (“UVC”) for surface
areas and catalytic bioconversion technology for air purification
to destroy pathogens safely, thoroughly, and automatically,
announces that its wholly owned subsidiary MunnWorks, a custom
manufacturer of luxury mirrors and furniture for the hospitality
market, has received a model room order from The Renaissance
Cleveland Hotel, which will be fully funded by the developer of the
hotel. Upon successful acceptance of the “Model Room” order, a
follow-on $2M order is expected. This order for hotel furniture
will be manufactured in MunnWorks 100,000 square foot Brooklyn, NY
manufacturing facility, which MunnWorks acquired on March 31st,
2022, through the purchase of VisionMark LLC’s luxury furniture
manufacturing business.
Max Munn, President, and Director of Applied UV and MunnWorks
stated, “This Renaissance Cleveland Hotel order validates this
recent VisionMark strategic asset purchase because there is
increasing interest across the home furnishings industry to produce
furniture made in the USA and reduce the reliance of and the
associated supply chain issues related with products manufactured
in China.”
Steve McCloskey of McCloskey Purchasing Group stated, “We are
excited to have the opportunity to work with an upscale domestic
manufacturer for our hotel furniture requirements. MunnWorks is a
respected and well-known supplier to the hospitality industry, and
by making additional furnishings available it can become even more
important as a domestic supplier to the hospitality world.”
Max Munn further stated, “The combination of MunnWorks legacy
business and the furniture manufacturing business formerly owned by
VisionMark provides for the expanded opportunity in the hospitality
market than previous possible. The acquired furniture business
further enables the Company to design-assist, fabricate, deliver,
and install high-end, hotel living space furnishings that are
constructed of wood, glass, metal, and stone and further expands
our reach into the luxury hospitality market beyond our existing
core mirror business. Furthermore, MunnWorks now has the
opportunity and capacity to design and install the Airocide™ air
purification system inside hotel room furnishings (nightstands,
desks or dressers). By doing such, we can potentially reduce the
unit cost as well the installation costs of the Airocide™ air
purification solution to the hotel operator. The Company plans to
immediately begin to design marketing initiatives that would also
include the TradeMark Airocide Inside™.”
VisionMark reported revenues on a pro forma basis of
approximately $7M in their fiscal year ended December 31, 2021.
About Applied UV
Applied UV is focused on the development and acquisition of
technology that address infection control in the healthcare,
hospitality, commercial and municipal markets. The Company has two
wholly owned subsidiaries - SteriLumen, Inc. (“SteriLumen”) and
Munn Works, LLC (“Munn Works”). SteriLumen’s connected platform for
Data Driven Disinfection™ applies the power of ultraviolet light
(UVC) to destroy pathogens safely, thoroughly, and automatically,
addressing the challenge of healthcare-acquired infections
("HAIs"). Targeted for use in facilities that have high customer
turnover such as hospitals, hotels, commercial facilities, and
other public spaces, the Company’s Lumicide™ platform uses UVC LEDs
in several patented designs for infection control in and around
high-traffic areas, including sinks and restrooms, killing
bacteria, viruses, and other pathogens residing on hard surfaces
within devices’ proximity. The Company’s patented in-drain
disinfection device, Lumicide Drain, is the only product on the
market that addresses this critical pathogen intensive location.
SteriLumen’s Airocide® air purification devices are research
backed, clinically proven and developed for NASA with assistance
from the University of Wisconsin. Airocide® is listed as an FDA
Class II Medical device, utilizes a proprietary photocatalytic
(PCO) bioconversion technology that draws air into a reaction
chamber that converts damaging molds, microorganisms, dangerous
airborne pathogens, destructive VOCs, allergens, odors and
biological gasses into harmless water vapor and green carbon
dioxide without producing ozone or other harmful byproducts.
Airocide® applications include healthcare, hospitality, grocery
chains, wine making facilities, commercial real estate, schools,
dental offices, post-harvest, grocery, cannabis facilities and
homes. For more information about Applied UV, Inc., and its
subsidiaries, please visit the following websites:
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 to conform these statements to actual results.
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version on businesswire.com: https://www.businesswire.com/news/home/20220513005046/en/
For additional Company Information: Applied UV Inc. John
F. Andrews Applied UV CEO, Director
john.andrews@applieduvinc.com
Contact: Brett Maas, Managing Principal Hayden IR
brett@haydenir.com (646) 536-7331
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