TOMI Environmental Solutions Expands Partnership With A Global Leader in Laboratory Services
Rhea-AI Summary
TOMI Environmental Solutions, Inc. (NASDAQ: TOMZ) has expanded its partnership with a global leader in laboratory testing and diagnostics services. The company received a $715,000 order for SteraMist mobile equipment and a Custom Engineered System (CES) to support the expansion of the client's Wisconsin facility. The order includes two mobile Environment Systems and a seven-applicator iHP CES system for three decontamination rooms.
TOMI's COO, Elissa J. Shane, highlighted the effectiveness of their SteraMist iHP technology in meeting the stringent demands of the life sciences sector. The company anticipates securing contracts with various institutions and expects growth within its custom and integration lines, which will drive recurring BIT-solution revenue.
Positive
- Received a $715,000 order for equipment and custom system
- Expanded partnership with a global leader in laboratory services
- Anticipates securing contracts with international government facilities, academic institutions, and pharmaceutical companies
- Expects growth in custom and integration lines
- Potential for increased recurring BIT-solution revenue
Negative
- None.
News Market Reaction
On the day this news was published, TOMZ gained 6.32%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
FREDERICK, Md., Aug. 22, 2024 (GLOBE NEWSWIRE) -- TOMI Environmental Solutions, Inc.® (“TOMI”) (NASDAQ: TOMZ), a global company specializing in disinfection and decontamination solutions, announced the expansion of its partnership with a global leader in laboratory testing and diagnostics services with multiple mobile equipment purchases and a Custom Engineered System (CES) to support the expansion of their Wisconsin facility.
The client initially became a customer of TOMI in 2021 and recently purchased additional equipment to support cell gene therapy at its Wisconsin facility. The order of
“We are thrilled to expand our partnership with a renowned laboratory service company by delivering advanced decontamination solutions tailored to their needs. Lab processing companies require rapid, non-corrosive disinfection solutions, and the continued adoption of our SteraMist iHP technology underscores its effectiveness in meeting the stringent demands of the life sciences sector,” Elissa J. Shane, TOMI’s COO, states.
“We eagerly anticipate successfully installing our Custom Engineered System, which will streamline their decontamination process. As long-term opportunities are maturing, TOMI is experiencing growth within its custom and integration lines. In the near term, we expect to secure contracts with international government facilities, academic institutions, pharmaceutical companies, toxin specialists, and an existing customer utilizing a combination of CES and Hybrid systems. As we secure additional contracts across various sectors, we are confident that our custom and integration lines will continue to drive recurring BIT-solution revenue.”
TOMI™ Environmental Solutions, Inc.: Innovating for a safer world®
TOMI™ Environmental Solutions, Inc. (NASDAQ: TOMZ) is a global decontamination and infection prevention company, providing environmental solutions for disinfection through the manufacturing, sales and licensing of its premier Binary Ionization Technology® (BIT™) platform. Invented under a defense grant in association with the Defense Advanced Research Projects Agency (DARPA) of the U.S. Department of Defense, BIT™ solution utilizes a low percentage hydrogen peroxide as its only active ingredient and uses patented ionized Hydrogen Peroxide (iHP™) technology in all SteraMist systems to create superior disinfection. TOMI products are designed to service a broad spectrum of use sites, including, but not limited to, hospitals and medical facilities, biosafety labs, pharmaceutical facilities, commercial and office buildings, schools, restaurants, meat and produce processing facilities, and police and fire departments.
For additional information, please visit http://www.steramist.com/ or contact us at info@tomimist.com
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
This press release contains forward-looking statements that are based on current expectations, estimates, forecasts and projections of future performance based on management’s judgment, beliefs, current trends, and anticipated product performance. These forward-looking statements include, without limitation, statements relating to partnership with laboratory service company. Forward-looking statements involve risks and uncertainties that may cause actual results to differ materially from those contained in the forward-looking statements. These factors include, but are not limited to, our ability to maintain and manage growth and generate sales, our reliance on a single or a few products for a majority of revenues; the general business and economic conditions; and other risks as described in our SEC filings, including our Annual Report on Form 10-K for the fiscal year ended December 31, 2023 filed by us with the SEC and other periodic reports we filed with the SEC. The information provided in this document is based upon the facts and circumstances known at this time. Other unknown or unpredictable factors or underlying assumptions subsequently proving to be incorrect could cause actual results to differ materially from those in the forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, level of activity, performance, or achievements. You should not place undue reliance on these forward-looking statements. All information provided in this press release is as of today’s date, unless otherwise stated, and we undertake no duty to update such information, except as required under applicable law.
INVESTOR RELATIONS CONTACT:
John Nesbett/Rosalyn Christian
IMS Investor Relations
tomi@imsinvestorrelations.com
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