Applied UV Acquires Airocide(R) Tech Platform for Airborne Pathogen Reduction

 

• Developed with NASA as a patented pathogen killing technology

• Proprietary photocatalytic oxidation process thoroughly destroys viruses, bacteria, spores, and fungi as well as other carbon-based molecules

• Airocide® air disinfection technology compliments and expands the SteriLumen platform, together providing a more comprehensive solution for air and surface

• Accelerates the strategy to grow revenues through complimentary acquisitions

• Enhances scale in the fast-growing disinfection device market

• Applied UV to host investor call at 9:00am ET on February 9, 2021

Applied UV, Inc. (NASDAQ:AUVI) ("Applied UV" or the "Company"), an infection control technology company that applies the power of narrow-range ultraviolet light ("UVC") to destroy pathogens safely, thoroughly, and automatically, announced it has closed on the acquisition by its wholly-owned subsidiary, SteriLumen, Inc. ("SteriLumen"), of substantially all of the assets of Akida Holdings LLC, ("Akida"), including all of the rights to manufacture and sell the Airocide® System of patented, air disinfection and purification technologies, for 1.375 million common shares of Applied UV stock and $901,274.96 in cash. Neither SteriLumen nor Applied UV will assume any long-term debt or non-operating liabilities of Akida. Airocide® products have seen broad adoption across all major markets including resorts and hotels, hospitals and nursing homes, food distribution and wine making commercial buildings, and retail sectors. Akida's revenue for the full calendar year 2020 is estimated to be $4.7 million with EBITDA of approximately $921,000. The agreement has been unanimously approved by the Boards of Directors of both companies.

Applied UV's management team will host an investor conference call and live webcast on February 9, 2021 beginning at 9:00am ET.

Investors can access the webcast via the following link https://www.webcaster4.com/Webcast/Page/2626/39959. For those planning to participate on the call, please dial +1-888-506-0062 for domestic calls, or +1-973-528-0011 for international calls and use entry code 652822. A replay of the conference call will be available online on the Applied UV web site, and a dial-in replay will be available for one week following the call at +1-877-481-4010(for domestic calls) or +1-919-882-2331 (for international calls), replay passcode #39959.

https://finance.yahoo.com/news/applied-uv-announces-acquisition-airocide-110000189.html