Following Significant Investment in Domestic Production Applied UV Reports Record Backlog of $22 Million
July 13 2023 - 8:00AM
via NewMediaWire – Applied UV, Inc. (NASDAQ: AUVI), a top
Smart Buildings Technologies provider (including food security),
today shared its notable expansion in the hospitality and leisure
sector. This growth, fueled by major investments in its 150,000
square foot domestic production, lessens the hospitality industry's
dependence on production from China.
The hospitality division is experiencing unprecedented growth,
with current orders and orders in process totaling approximately
$14 million-$15 million including an order in process of over $4
million with a leading hotel brand. This marks the largest backlog
in the company’s history and over 300% year-over-year growth. This
growth underscores the success of the company's strategic expansion
and its ability to meet the evolving needs of the hospitality and
leisure industry.
"We are thrilled with the growth we're seeing in our hospitality
division," said Munn, CEO of Applied UV. "This is a clear
indication that our strategy is working, and we are confident that
we will meet our $45 million-$50 million revenue projection for
2023."
In addition to the company's significant growth in the
hospitality sector, Applied UV is also proud to announce a total
company backlog of over $22 million. This impressive figure
underscores the company's robust demand and strong market position.
Among the company's prestigious clientele in the hospitality
industry are renowned names such as Marriott, Hyatt, Hilton, and
Wynn. These partnerships further validate Applied UV's commitment
to providing top-tier smart building technology solutions.
Applied UV's strategic expansion of its product portfolio and
domestic production capabilities has solidified its position as a
preferred provider of comprehensive solutions within the
hospitality industry. This broadened product offering has not only
fortified Applied UV's competitive edge but also led to a
substantial increase in its market share.
The company's commitment to innovation and quality continues to
drive its growth and success in this sector.
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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
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For additional Company Information:
Applied UV Inc.Max MunnApplied UV Founder, CEO &
DirectorMax.munn@applieduvinc.com
Investor Relations Contact:TraDigital IR
Kevin McGrath +1-646-418-7002 kevin@tradigitalir.com
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