TOMI Environmental Solutions Inc.
07/24/2024 | Press release | Distributed by Public on 07/24/2024 06:39
TOMI Environmental Solutions Secures $1.2 Million Contract with Enviro-Mist Inc. Driving SteraMist Growth in the Pharmaceutical Market
FREDERICK, Md., July 24, 2024 (GLOBE NEWSWIRE) -- TOMI Environmental Solutions, Inc.® ("TOMI") (NASDAQ: TOMZ), a global company specializing in disinfection and decontamination solutions, today announced that Enviro-Mist Inc. a division of EMAQ Group purchased twenty (20) SteraMist Environment Systems, generating approximately $1.2 Million in revenue which will be recognized in the second quarter of 2024.
Enviro-Mist Inc. a division of EMAQ Group, ( https://emaqgroup.com/ ) has joined the iHP Corporate Service team as an exclusive partner for the pharmaceutical market in the Western United States, a territory we do not currently have a large footprint for disinfection services. Enviro-Mist Inc. is coming onboard with a multi-year contract in place for a single location of one of our long-standing and valued customers. We currently estimate this arrangement to generate approximately $60,000 of revenue in BIT Solution sales a year.
This strategic partnership aims to enhance the market penetration of SteraMist iHP decontamination solutions within the pharmaceutical industry and is expected to grant SteraMist iHP technology the significant traction it deserves, delivering decontamination solutions that meet the stringent demands of the pharmaceutical sector. With growing interest in our cutting-edge technology within the evolving decontamination services landscape, we are strategically positioned for large-scale service sales, ongoing revenue growth, and increased presence and visibility in the industry.
"Enviro-Mist Inc. has demonstrated confidence in our technology by expanding its fleet of SteraMist machines through this substantial acquisition," said Elissa J. Shane, TOMI's Chief Operating Officer. "This partnership emphasizes our shared commitment to advancing and delivering exceptional value to our customers and we anticipate a long and successful collaboration. With this partnership, SteraMist iHP technology is poised to gain substantial traction in the pharmaceutical sector, providing decontamination that meets the stringent demands of this sector while generating recurring BIT solution revenue as part of our razor/razorblade model."
Dave Salas, EMAQ's President, added, "It has been a pleasure working with TOMI SteraMist over the many years, and we are excited about the opportunities this strategic arrangement will bring. We are confident in the growth potential for both our disinfecting division and TOMI as we continue to grow our client base for iHP decontamination servicing."
Enviro-Mist Inc. a Division of EMAQ Group
Providing powerful and consistent decontamination services for multiple industries.
Enviro-Mist Inc. specializes in the disinfecting of pharmaceutical manufacturing facilities. However, our services include multiple disciplines that allow us to service a great number of vertical markets. Contract services that help industries meet their industry regulatory standards and compliance or those that simply benefit from thorough bio-decontamination as needed.
Enviro-Mist Inc. has become the forerunner of contract sterilizing services nationwide. Delivering consistent and effective results that are verified by independent testing, biological indicators and our satisfied clients.
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 indoor surface 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 to produce a fog of ionized Hydrogen Peroxide (iHP™). Represented by the SteraMist® brand of products, iHP™ produces a germ-killing aerosol that works like a visual non-caustic gas.
TOMI products are designed to service a broad spectrum of commercial structures, including, but not limited to, hospitals and medical facilities, cruise ships, office buildings, hotel and motel rooms, schools, restaurants, meat and produce processing facilities, military barracks, police and fire departments, and athletic facilities. TOMI products and services have also been used in single-family homes and multi-unit residences.
TOMI develops training programs and application protocols for its clients and is a member in good standing with The American Biological Safety Association, The American Association of Tissue Banks, Association for Professionals in Infection Control and Epidemiology, Society for Healthcare Epidemiology of America, America Seed Trade Association, and The Restoration Industry Association.
For additional information, please visit https://www.steramist.com/ or contact us at [email protected]
Forward-Looking Statements
This press release contain 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 expected revenue generated by sales to EMAQ Group and TOMI's growth potential. 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 acquire new customers and expands sales; 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:
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IMS Investor Relations