MT VERNON, NY, Jan. 16, 2024 (GLOBE NEWSWIRE) -- via NewMediaWire – Applied UV Inc. (NASDAQ: AUVI), a leader in innovative and industry disruptive solutions across various sectors, is pleased to announce significant revenue in its Smart Building Technologies division. Recent strategic investments in LED Supply Co. will yield substantial sales in 2024, with the division poised to contribute $10 million in sales from just three nationally recognized accounts in 2024. With approximately $3M of this $10 million in orders already received from these industry leaders, it is expected that this division will assist in driving AUVI toward positive cash flow. These orders constitute a fraction of AUVI's expected revenues for 2024.
This exceptional performance is part of Applied UV's broader success narrative, as the Company forecasts overall sales to significantly exceed 2023 results. Additionally, AUVI anticipates that 2024, will mark a pivotal moment in its financial evolution.
Max Munn, CEO of Applied UV Inc., expressed his enthusiasm: "2024 is shaping up to be a landmark year for us. The remarkable progress in our Smart Building Technologies division is not just a testament to our team's hard work but also signals our unwavering commitment to cutting-edge solutions. Our acquisitions in the Smart Building Technologies Division are starting to pay dividends."
AUVI has recently announced the launch of its groundbreaking Fighter Flex LED solution at the upcoming annual AHR Expo. This industry disruptive and newly patented product (US Patent # 2023/0321309 A1) is set to redefine, through energy cost reduction, the design and utilization of our product across HVAC systems globally. This technology is undergoing testing with the GSA and DOE as part of the GSA Green Proving Ground Program. The GSA owns and leases over 363 million square feet of space in 8,397 buildings. See: Applied UV Fighter Flex PR
With this ground breaking solution, the Smart Building Technologies division, under Applied UV, focuses on providing integrated advanced technologies with energy saving and positive ROI solutions to property owners. Its rapid growth is a clear indicator of the market's confidence in Applied UV's innovative and exclusive approach in providing financially positive solutions for property management.
As Applied UV continues to pave the way in its respective industries, stakeholders and customers alike can look forward to more groundbreaking developments and sustained growth.
For more information about Applied UV Inc. and its subsidiaries, please visit https://applieduvinc.com/.
About Applied UV Inc.
Applied UV Inc. is dedicated to developing and acquiring smart building technologies for healthcare, hospitality, commercial and municipal markets. With Sterilumen, Munnworks, LED Supply Co, and PURO, the company has a diverse portfolio that addresses various needs in the market. Applied UV Inc. is committed to innovation and excellence in providing solutions for a healthier and smarter world.
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. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release.
For additional Company Information:
Applied UV Inc.
Brian Stern
Bstern@purolighting.com
