Applied UV has unveiled its plans for an organizational restructuring aimed at enhancing operational performance and creating value for its shareholders. The company has also expanded its strategic partnerships with Canon Virginia and Canon Financial Services.
Strengthening Manufacturing and R&D Capabilities
As part of the restructuring plan, Applied UV will be transferring the majority of its SteriLumen disinfection-related product manufacturing to Canon Virginia. This move is expected to optimize production processes and improve efficiency.
Additionally, all next-generation and future research and development activities will be transitioned to Canon Virginia. This collaboration will harness the expertise of both companies, driving innovation and technological advancements.
Joint Marketing Campaign for Enhanced Food Security
Canon Virginia will also join Applied UV in a joint marketing campaign for an upcoming “major post-harvest food security product launch.” This collaboration aims to raise awareness about the new solution and expand its reach in the market.
Specialized Leasing Programs and Price Adjustments
Canon Financial Services will offer specialty leasing programs tailored specifically for Applied UV’s Airocide products. This partnership will provide customers with flexible financing options, further promoting the adoption of these advanced air quality solutions.
To improve overall blended gross margins, Applied UV is initiating price increases across some of its Airocide and MunnWork’s products. This strategic decision reflects the company’s commitment to delivering high-quality solutions while maintaining financial sustainability.
Driving Shareholder Value
Max Munn, CEO of Applied UV, expressed confidence in the company’s potential for growth. He emphasized that the current market capitalization does not adequately reflect their successful achievements. Munn believes that the ongoing efforts, combined with the target revenue guidance of $45 million for 2023, will contribute to a higher valuation for Applied UV.
About Applied UV
Applied UV specializes in providing global solutions for food security, air quality, and intelligent building systems. The company is dedicated to leveraging advanced technologies to create safer and healthier environments.