TOMI Environmental Solutions Secures Contract with Malaysian Government for SteraMist Technology, Strengthening Global Market Position
Rhea-AI Summary
TOMI Environmental Solutions (NASDAQ: TOMZ) has secured a contract with Malaysia's National Institute of Forensic Medicine (IPFN) for its newly launched SteraMist Integrated System - Standalone (SIS-SA). The system will be deployed in IPFN's Biosafety Level 3 autopsy room. The contract was secured through TOMI's long-term partner, Kumpulan Novalab Sdn Bhd, which is pursuing multiple government bids in the region. This development represents strategic progress in TOMI's global expansion efforts and demonstrates growing recognition of their iHP technology, particularly as government entities are adopting it without competitive bidding.
Positive
- Secured new government contract in Malaysia for SteraMist technology
- Growing adoption of technology without competitive bidding indicates strong market position
- Additional government contracts expected to be awarded this month
- Expansion into high-security facilities (BSL3) demonstrates product capabilities
Negative
- None.
News Market Reaction – TOMZ
On the day this news was published, TOMZ gained 12.05%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
FREDERICK, Md., Oct. 24, 2024 (GLOBE NEWSWIRE) -- TOMI Environmental Solutions, Inc.® (“TOMI”) (NASDAQ: TOMZ), a global company specializing in disinfection and decontamination solutions, today announced it has secured a contract with the National Institute of Forensic Medicine (IPFN) in Malaysia. The agreement represents strategic progress as TOMI continues to expand its global footprint in critical environments and capitalizes on growing global demand.
The contract involves the deployment of TOMI’s newly launched SteraMist Integrated System - Standalone (SIS-SA) in the IPFN Biosafety Level 3 (BSL3) autopsy room. The SIS-SA has generated global interest for its innovative and effective capabilities, providing a solution for the disinfection of high-contaminant spaces with strong demand.
E.J. Shane, COO of TOMI Environmental Solutions commented, “We are proud that the Malaysian government selected SteraMist iHP technology for this contract, reflecting the growing recognition and preference for TOMI’s solutions worldwide. This contract not only validates the SIS-SA’s unique benefits, but also underscores our competitive advantage, as more government entities are adopting our iHP technology without competitive bidding. We are excited about the opportunities this creates for long-term growth.”
TOMI’s long-term partner, Kumpulan Novalab Sdn Bhd, a Malaysian-based company specializing in integrated medical engineering, continues to excel as the Company pursues multiple government bids in the region, with another expected to be awarded this month and others to follow. Kumpulan Novalab has a 25-year track record in advanced education, research, biomedical sciences, high-containment facilities, laboratories, oil and gas, and biotechnology.
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 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. 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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