Applied UV Announces it is
Receiving over $2 Million Cash Deposits for over $4 Million Order
from Large Developers, Validating Our Strategy to Reduce Dependence
on China
NEW
YORK, NY -- August 10, 2023 -- InvestorsHub NewsWire -- Applied UV,
Inc. (NASDAQ:
AUVI), a pioneer in Healthy Building Solutions, is pleased to
announce that it is receiving over $2 million cash deposits on a
significant $4 million order from hotel and multi-family developers
for interior furnishings.
This
latest success showcases Applied UV's expanding leadership in the
hospitality and leisure sector. Importantly, this follows the
Company's disclosure on July 11, 2023, of its record backlog of $22
million, powered by significant investments in its 150,000 square
feet of domestic production facilities. With this previously
announced hospitality order, the Company's strategy to support and
benefit from the rapid reduction of America's dependence on
production in China is further validated.
"Our
growth trajectory in the hospitality and leisure division remains
robust. This significant cash from notable developers
emphasizes our strategy's validity and the importance of our
domestic production capabilities," said Max Munn, CEO of Applied
UV.
This
recent order will help bolster Applied UV's cash position and
significant backlog. As the Company continues to broaden its
clientele, which includes luminaries such as Marriott, Hyatt,
Hilton and Wynn, it further establishes its status as a go-to
domestic provider to the hospitality industry. America's need to
reduce its reliance on China is a strategic imperative. Applied UV,
with its significant manufacturing footprint in the US, is well
prepared to meet this growing industry demand.
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About Applied
UV
Applied UV, Inc.
engages in the pursuit of technologies focused on global food
security, air quality, and specialty building solutions tailored
for the commercial and hospitality sectors. More details about
Applied UV, Inc., and its subsidiaries can be found at 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. 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.
Max Munn
Applied UV Founder,
CEO & Director
Max.munn@applieduvinc.com
Investor Relations
Contact:
TraDigital
IR
Kevin
McGrath
+1-646-418-7002
kevin@tradigitalir.com