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FREDERICK, Md., Aug. 04, 2022 (GLOBE NEWSWIRE) -- TOMI Environmental Solutions, Inc.® (“TOMI”) (NASDAQ: TOMZ), a global company specializing in disinfection and decontamination, utilizing its premier Binary Ionization Technology (BIT) platform through its SteraMist products - a hydrogen peroxide-based mist and fog composed of ionized Hydrogen Peroxide (iHP), recently received multiple purchase orders for TOMI's iHP Custom Engineered System (CES).
Due to the needs and requirements for automatic decontamination in the life science, research and scientific communities, our iHP technology is becoming a standard for all the right reasons: effectiveness, efficiency, speed, and lack of corrosive damage to all laboratory and high-tech instrumentation within the life sciences industry. There has been a major increase in interest in the Custom Engineered System worldwide.
SteraMist iHP Custom Engineered System (CES) are expected to be implemented within four (4) laboratory rooms at a well-known company focused on the development and cGMP manufacturing of biologics. SteraMist was chosen given its ability to decontaminate the area four times faster than a major competitor along with SteraMist providing superior material compatibility on surfaces. This purchase order will require eleven (11) applicators with a single control panel and a 55-gallon BIT solution container. We expect that once the installation is finalized, it will generate approximately $730,000 of revenue being realized in the fourth quarter of 2022.
Also, a biotechnology company pioneering a new class of fully engineered circular RNA therapeutics recently ordered a SteraMist iHP CES to be implemented in a newly built decontamination room. The Company expects to install the one applicator system and realize approximately $150,000 in revenue in the fourth quarter of 2022.
“TOMI is receiving interest in the Custom Engineered System from around the world. We have improved the system and streamlined the bidding process to provide customers with a cost-effective solution while maintaining the quality of SteraMist iHP technology,” Elissa J. (E.J.) Shane, Chief Operating Officer at TOMI stated.“Due to confidentiality restraints within this industry, we are unable to specifically name the clients. However, they are all world recognized pioneers in their fields. We are excited to add these respected partners and look forward to winning several more bids for our custom systems this year.”
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.
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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 anticipated revenue opportunities of CES products and timing of revenue recognition; growth strategies of the company; and capability of iHP technology. 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, the impact of COVID-19 pandemic on our business and customers; 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, 2021 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.
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