Benzinga | May 19, 2021 11:21AM EDT

Applied UV, 3Sixty Ink Distribution Pact For Airocide Air Purification Systems In Africa

* Applied UV Inc (NASDAQ: AUVI) has signed an exclusive distribution agreement with 3Sixty Biopharmaceuticals (Pty) Ltd for Airocide consumer and commercial air purification systems within the continent of Africa.

* Under the terms of the agreement, 3Sixty will purchase upfront a minimum of $3.5 million of Airocide systems over the initial one-year term of the agreement.

* After the initial term, both parties have agreed to assess opportunities to expand the product line to include the SteriLumen platform of connected UVC devices for infection control.

* The Airocide System is an airborne pathogen-killing technology that uses a patented combination of UVC and a proprietary titanium dioxide-based photocatalyst.

* Price Action: AUVI shares are up 0.41% at $7.35 during the market session on the last check Wednesday.