The Agreement Will Ensure Logistical Cost Savings and Accelerated Development of Applied UV’s Next Generation Products
Applied UV, a pathogen elimination technology company, announced that it has signed a strategic manufacturing and related services agreement with Canon Virginia, Inc., (“CVI”) a global manufacturing, engineering and technical operation for the Canon family and a wholly owned subsidiary of Canon U.S.A, Inc. The agreement establishes CVI’s status as the primary manufacturer, assembler and logistical authority for Applied UV’s suite of air purification solutions. The Manufacturing Agreement, the first of a series of anticipated agreements, enables the Company to leverage the resources of CVI’s two million-square-foot state-of-the-art engineering, manufacturing and distribution facility.
“In anticipation of the expanded use globally of our Airocide and Scientific Air fixed and mobile air purification solutions, this strategic relationship is one which I value more than most,” said Max Munn, President & Director of Applied UV. “Over the past three years, supply chain and logistics disruptions have impacted operations for companies globally, so consolidating and bringing our manufacturing processes on shore with one company was a top priority.”
Applied UV plans to leverage CVI’s almost 40 years of innovative and efficient production methods to manufacture the Company’s patented, FDA Class II Listed Airocide PCO commercial and consumer devices, as well as the patented advanced Activated Carbon UVC and HEPA Mobile disinfection Scientific Air portfolio.
“Financially speaking, CVI’s breadth of in-house capabilities and supply-chain efficiencies should translate into untold short and longer-term production, logistical cost savings and accelerated development of our next generation products,” said Max Munn, President, Founder and a Director of Applied UV. “By reducing manufacturing execution risk, we will be able to focus solely on sales and marketing.”
Applied UV also plans to collaborate with Canon Financial Services, Inc. to enable better cash flow management in regard to its growing supply chain requirements. Further, the Company will look to work with CVI’s affiliates extensive field support team to promote the sale of the Company’s products, as well as service capabilities.
Canon operates under the philosophy of Kyosei, which means, ‘living and working together for the common good,’” said Shingo Shigeta, President and Chief Executive Officer of CVI. “We look forward to working together with the Applied UV team to improve the quality of indoor air globally by offering our manufacturing, R&D and process expertise to the current and next generation Applied UV family of best-in-class air and surface disinfection portfolio.”
Source: Company Press Release