Applied UV (NASDAQ: AUVI), an infection prevention technology company that applies the power of ultra violet C (“UV-C”) light utilizing its patented devices to destroy pathogens, today announced its entry into a non-binding letter of intent (“LOI”) with Akida Holdings LLC. In addition to its exclusive joint distribution and licensing agreement with Akida Holdings, the LOI is to explore the possibility of acquiring certain key assets of Akida. This includes Akida’s rights to the manufacture and sale of the Airocide(TM) System of patented, air purification technologies, which may aid in the reopening of the global economy with applications in the hospitality, hotel, healthcare, nursing homes, grocer, wine, commercial buildings and retail sectors.
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About Applied UV Inc.
Applied UV is focused on the development and acquisition of technology that address infection prevention in the healthcare, hospitality, commercial and residential markets. The company’s products utilize disinfection technology that applies the power of UVC to destroy pathogens safely, thoroughly and automatically. Applied UV’s SteriLumen technology was tested at an independent laboratory that found the SteriLumen Disinfection System to be greater than 99.99% effective in killing the OC43 human coronavirus, a strain of human coronavirus that is genetically similar to SARS-CoV-2. According to the independent laboratory, it is expected that SARS-CoV-2, the virus that causes COVID-19, will be killed in a similar manner to OC43. The company has two wholly-owned subsidiaries: SteriLumen and Munn Works, LLC. SteriLumen develops disinfection devices and technology that combat hospital-acquired infections (“HAIs”). It has formed a team to solve and patent a product and process to neutralize pathogens providing a compelling solution for the hospitality space and a solid path to entering the healthcare market. Munn Works manufactures fine mirrors specifically for the hospitality industry. Its goal is to contribute to the creation of its design industry clients, manufacturing extraordinary framed mirrors. For more information about Applied UV Inc. and its subsidiaries, visit www.AppliedUVInc.com, www.SteriLumen.com and www.MunnWorks.com.
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