FREDERICK, Md., Feb. 29, 2024 (GLOBE NEWSWIRE) -- TOMI Environmental Solutions, Inc.® (“TOMI”) (NASDAQ: TOMZ), a global company specializing in disinfection and decontamination solutions, today announced the signing of a new contract for a SteraMist iHP Custom Engineered System (CES) installation with a California-based life sciences company. The contracted iHP Custom Engineered System (CES) is valued at approximately $600,000. This system, featuring six applicators, will be integrated into a clinical suite, and is expected to be fully installed by the end of the third quarter in 2024.
The life sciences sector is increasingly adopting automation in various processes, including decontamination, to comply with Annex 1, GMP, ISO, and other strict standards. California, a leading hub for the pharmaceutical and biotech industries, is emerging as a key growth demographic for TOMI with the Company gaining multiple new clients, opportunities, and relationships from the state over the last year. The newly announced CES contract is a reflection of the trend of life sciences companies selecting integrated SteraMist iHP products to ensure superior decontamination while creating workflow efficiencies by minimizing laboratory downtime.
Following a presentation by Dr. Halden Shane, CEO of TOMI, at an ISPE event hosted by Avid Bioservices, the contractors recognized the benefits of the automated iHP Custom Engineered System showcased in Avid's new facility and brought SteraMist iHP to the customer as an option. TOMI's strong connections with other members of contractors and lab architects in other states from previous installs, led the customer to choose SteraMist iHP technology over the initial choice of vaporized hydrogen peroxide.
Elissa J. (E.J.) Shane, COO of TOMI states, “We’re pleased to announce this new CES contract and look forward to continuing our growth momentum. Maintaining and developing relationships in this field remains crucial for both our clients and upcoming initiatives. Being a chosen technology to collaborate with respected contractors and architects has been rewarding, and we are committed to broadening our network to ensure that the highest quality of decontamination is achieved in laboratories across the world.”
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 new CES contract and potential revenue opportunities. 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 the 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 March 2022 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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