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 Shareholder letter.
Dear Applied UV Inc., Shareholders,
I am writing to reflect on the Company’s 2021 accomplishments
and provide to the extent possible, insights into our focus for
2022. Despite the pandemic that crippled the world, 2021 saw the
company complete significant positive milestones that, in my
opinion, were truly historic in nature. Given the herculean effort
put forth by our entire Team and Board, what we accomplished as a
public company since the completion of our Initial Public Offering
almost 18 months ago, in my opinion, is not currently being
recognized in our valuation.
Why we are we here! – The Center for Disease Control states that
1 in 25 patients have at least one Hospital Associated Infection
(HAI) annually and that 3 million serious infections occur every
year in long-term care facilities. Scientists globally have been
advocating improving air quality post pandemic, significantly
boosting global adoption to control airborne pathogen transmission.
Governments globally mandating health agencies to address air
quality via grants and mechanisms to ease visitation and protect
facilities against future pathogens (Centers for Medicare and
Medicaid Services – February 2022 Long-term Care
Initiative). Indoor air quality has become an even more important
issue as world economies start the recovery process. In 2021, 39
scientists reiterated the need for a "paradigm shift" and called
for improvements in, "how we view and address the transmission of
respiratory infections to protect against unnecessary suffering and
economic losses." Most recently, on March 22, 2022, the Federal
Government through the Environmental Protection Agency (EPA) issued
“Clean Air Guidelines” aimed at improving air quality in public
spaces to prevent the transmission and spread of airborne related
pathogens. In addition, on March 25, 2022, the White House
announced its “Clean Air in Buildings Challenge” through the Office
of Science and Technology Policy. This initiative is seen to
emphasize what scientists globally have been championing. In its
launch, the White House explained, “Research shows changing the air
in a room multiple times an hour with filtered or clean outdoor air
— using a window fan, by using higher MERV filters in an Heating,
Ventilation, and Air Conditioning (HVAC) system, using portable air
cleaning devices, and even just opening a window — can reduce the
risk of COVID-19 transmission — with studies showing five air
changes an hour reduce transmission risk by 50 percent. And,
improving indoor air has benefits beyond COVID-19: it will reduce
the risk of getting the flu, a common cold, or other diseases
spread by air, and lead to better overall health outcomes.” Lastly,
in addition to this, the global air purifier market size is set to
grow exponentially. It was valued at $9.24 billion in 2021 and is
predicted to grow to approximately $22.84 billion by 2030.
According to Precedence Research, the immense demand for air
purification and sterilization in the US will be driven by the
commercial sector. While these are merely statistics, our mandate
and mission is to rapidly build a science-based pathogen
elimination platform that is safe,
effective and simple, that protects
businesses, facilities and people around the globe.
What we have accomplished – Since our inception, the Company has
completed a $5.8M IPO, a $7.3M follow-on offering, a $13.8M Series
Preferred and, a $9.2M Secondary offering all of which enabled the
completion of three acquisitions (Akida Holdings, Kes Science and
Technologies and Scientific Air Management) which position AUVI as
a fully integrated company offering total pathogen disinfection
platforms (Air & Surface). With the acquisitions complete, our
wholly owned subsidiary, SteriLumen addresses the ever-changing
challenges of air and surface pathogens, healthcare-acquired
infections (“HAIs”), hospital borne infections (HBI’s), protecting
businesses, the facilities they occupy, their employees, and
consumers who frequent them. The Company’s products are targeted
for use in facilities that have high customer touch and turnover
which, include hospitals, hotels, commercial facilities, sports
arenas, dental offices, schools, food processing, post-harvest,
cannabis grow facilities, long-term care and other public spaces.
As we continue to grow and build out our air purification and
surface disinfection platform portfolio, we are continually looking
for synergistic, attractive air purification businesses to allow us
to gain further market penetration and share. We also will seek out
low-cost opportunities to bolster our legacy hospitality business,
Munnworks. The recent Visionmark (www.visionmarknyc.com) asset
acquisition is an example of just that, as it expands our reach
further into the luxury hospitality world of hotel construction and
remodeling beyond its core mirror business while also potentially
contributing top line revenues to Munnworks.
The Company’s product portfolio is currently used by globally
recognized names including Walmart, Whole Foods, SuperValue,
Delmonte, Esmeralda, Joel Goet Wines, Athena Healthcare, NYC Health
and Hospitals, Kaiser Permanente, Advent Health, University
Rochester Medical Center and Baptist Health South Florida. This
past year, the Company’s product portfolio expanded its reach and
deployed its air purification products into The Palace Versailles,
Uruguayan School Systems, Tennessee Department of Corrections,
Armed Forces Research Institute of Medical Sciences (AFRIMS), US
Army Aberdeen Proving Grounds, Schools throughout South Korea, NYU
Medical Center, University of Rochester Medical Center, The Federal
VA Hospital System, Baptist Health South, Kaiser Permanente Medical
of California, and, New York Health + Hospital Corp.
The Company works with a global base of distributors to sell
both its air purification and surface disinfection products as well
as the Munnworks product lines. The past year, the Company has
signed distribution agreements covering Africa (360BioPharma), US
Healthcare (Axis), Lootah Batta Water and Environment (United Arab
Emirates), and Plandent Division, a wholly owned subsidiary of
Planmeca Oy (Scandinavia). The Company plans to continue to expand
its global distribution base of significant breadth and scale to
introduce the entire air purification and surface disinfection
product lines to new markets. These include Long-Term Care,
healthcare, prisons, cannabis grow facilities, wineries, food
preservation, and logistics. By leveraging the synergies of the
acquired companies, taking advantage of global cross sales and
marketing initiatives through its international distribution base,
the Company plans to launch one of the largest, targeted,
multi-faceted marketing campaigns in our short history led by a
Fortune 500 executive with extensive experience in this regard.
The Company’s product portfolio is one of the only
research-backed, clinically proven pure-play air and surface
disinfection technology companies with international distribution
and globally recognized end users, with product developed for NASA.
In addition to the numerous recognized research institutions and
globally recognized names who published the reports that were
completed by the acquired companies, Airocide was independently
proven to kill SARS, MERSA and Anthrax. This past year saw
independent testing verifying that the Company’s air purification
(Airocide) and surface disinfection (Lumicide) products were proven
to kill both Candida Auris (Resinnova Laboratories) and SARS CoV-2
(COVID-19) (MRIGlobal).
It is important to note, we are driven by a single competitive
principal, which is that we have a patented, disruptive air
purification and surface disinfection technology platform that is
differentiated by the global customers who use it to protect their
facilities and customers and, the independent studies validating
its efficacy. Our enthusiasm could not be any higher about the
impact that our air purification and surface disinfection platform
could have as the world’s businesses and economies re-open from
this three-year pandemic armed with a technology that can prevent
this type of global disruption from re-occurring in the future.
We have updated our website with the most recent Investor
Presentation that covers more of our plans for 2022. You can also
find more information maintained at www.applieduvinc.com.
In closing, as true of rapidly growing companies, we are well
along the learning curve, are extremely mindful of the challenges
and grateful for the opportunities. I can assure you that the
entire team and board are solely focused towards refining our path
forward and the result will be a stronger company with a board and
senior management team possessing the expertise to navigate this
exciting next chapter in our corporate history. On behalf of the
entire management team and board, thank you for your continued
support. As we continue this journey, it is our sincere hope and
expectation that we will unlock shareholder value and the truest
potential through focused execution. Please feel free to contact me
directly with any questions.
Best Regards,
Max Munn Interim Chief Executive Officer / Director
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/; https://sterilumen.com/;
https://www.airocide.com https://kesscience.com;
https://scientificairmanagement.com www.airoclean420.com and,
https://munnworks.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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220407005770/en/
For additional Company Information:
Applied UV Inc. Max Munn Applied UV Interim
CEO max.munn@sterilumen.com
Contact: Brett Maas, Managing Principal Hayden IR
brett@haydenir.com (646) 536-7331
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