APPLIED UV, INC.

(AUVI)
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Real-time Estimate Cboe BZX  -  12:24 2022-07-05 pm EDT
2.155 USD   -1.60%
10:15aApplied UV Says Distribution Partner MedLine Places 'Large' Follow-On Order for Mobile Air Purification System
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08:03aApplied UV Announces MedLine Places Follow-On Order
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06/27Aegis Capital Initiates Applied UV at Buy with $8 Price Target
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Applied UV Continues Cannabis Market Expansion

06/23/2022 | 08:07am EDT

Tru Infusion Places Significant Order

Largest Indoor Cannabis Cultivator in Arizona

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 SteriLumen has received an significant order from Tru Infusion for its proprietary, Airoclean™ 420 by SteriLumen air purification technology.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220623005202/en/

(Photo: Business Wire)

(Photo: Business Wire)

Tru Infusion has deployed our air purification solution which was originally developed for NASA and is listed as an FDA Class II Medical throughout its 79 facilities which utilizes a combination of photo-catalytic oxidation, our proprietary chemical process and UVC within its reaction chamber which is a clear differentiator in air purification. This unique process destroys all carbon-based molecular air borne pathogens that pass through the chamber, which, left untreated, negatively impacts the pre and post-harvest facilities where inventories are grown and stored. Airocide’s™ patented technology leads the world in air purification and is chosen by globally recognized brands due to this product differentiation.

Tru Infusion is an award-winning Arizona based cannabis retailer with 79 locations throughout the state whose products offer a premium cannabis experience by utilizing the most advanced technology combined with the safest and most efficient production methods available. The Tru Infusion lab utilizes proprietary extraction techniques for clean and pure outcomes. All the Tru Infusion products are made from scratch, to ensure quality, full infusion and accurate dosing.

David J. Lawson, Tru Infusion COO, stated, “Nature Wonder, dba Tru Infusion, has become one of Arizona’s largest indoor cultivating companies. With multiple facilities spread throughout the state, we have in-excess of 300,000 sq. ft underroof. Our total flower canopy is expanded even further because we utilize multi-tier racks in 75% of our flower rooms. This means that the complexity of maintaining consistent room environments becomes a greater challenge due to the micro-climates with ceiling heights ranging between 16 feet and 22 feet. When looking at the cubic feet of space within our flower rooms, we looked to replace our earlier vendor. While they will remain nameless, I will say their solution worked fine in our single tier rolling table environments with 12–13-foot ceilings. The Airoclean 420 however, allowed us the ability to purify our air in the much larger grow rooms. After nearly a year and a half we have had no issues with the units at all – and we have over 100 units installed. As a result, you have a happy customer with future intentions to acquiring even more units for our planned expansions over the next 2 years.”

John F. Andrews Applied UV’s CEO and Director stated, “Our footprint and leading market share position in the cannabis market continues with the addition of Tru Infusion. We are very excited to welcome them to the Applied UV Family. We continue to aggressively pursue leaders in the high growth cannabis market as healthy air is an essential element in providing quality cannabis products to consumers. Having the award winning and fastest growing cannabis operators in Arizona incorporate the use of our Airoclean™ 420 by SteriLumen into their facilities is further testament to the products proven effectiveness but also to the growing interest of globally recognized brands and companies who use our Airocide air purification solutions to protect their facilities, employees, and products from harmful airborne related pathogens. We look forward to a long and successful relationship with the Tru Infusion team.”

Applied UV’s internal research estimates that the legal cannabis industry grew 46% from 2019 to 2020 achieving revenue in excess of $17B. Airoclean™ 420 by SteriLumen launched in 2015 is a pioneering brand that has been trusted for more than a decade by commercial and home/hobby growers across North America and, is the most effective air purification system in destroying powdery mildew and airborne fungal diseases that ruin cannabis plants and businesses. The cannabis crop is subject to many viruses that could impede growth and destroy crops. Powdery mildew is one of the most potent destroyers of cannabis grows in the world. The pathogen spreads through the air and gets into the vascular system of the plants. It remains hidden until two weeks into flowering before it wreaks havoc on the entire grow. Airoclean™ 420 by SteriLumen eradicates powdery mildew and other airborne pathogens and not only protects the crops but helps protect the personnel from airborne pathogens working in the facilities growing them as well.

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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.


© Business Wire 2022
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Financials (USD)
Sales 2022 16,4 M - -
Net income 2022 -8,63 M - -
Net cash 2022 6,90 M - -
P/E ratio 2022 -3,40x
Yield 2022 -
Capitalization 28,4 M 28,4 M -
EV / Sales 2022 1,31x
EV / Sales 2023 0,57x
Nbr of Employees 61
Free-Float 50,6%
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Number of Analysts 4
Last Close Price 2,19 $
Average target price 7,43 $
Spread / Average Target 239%
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Managers and Directors
John F. Andrews Chief Executive Officer & Director
Max Munn President & Director
Michael Riccio Chief Financial Officer
John J. Hayman Chief Operating Officer & Senior Vice President
Dallas C. Hack Independent Director
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