Universal PropTech Announces Purchase Order with a Value Ranging Between CAD $6.5 and $10 Million for Indoor Air Quality Equipment
The Company will receive commissions in the range of approximately CAD $350,000 to CAD $500,000.
Toronto, Ontario--(Newsfile Corp. - June 7, 2021) - Universal PropTech Inc. (TSXV: UPI) (OTCQB: UPIPF) (FSE: 8LH) ("UPI" or the "Company") is pleased to announce that one of the Company's Indoor Air Quality ("IAQ") partners has received a significant Purchase Order ("Order") to provide IAQ equipment. The partner's Order is estimated to be valued between $6.5 and $10 Million. The Company will receive commissions in the range of approximately CAD $350,000 to CAD $500,000. The Company expects to receive payment of these commissions between Q4 2020 and Q1 2021.
Chris Hazelton, the CEO of Universal PropTech Inc. stated, "Indoor air quality solutions present a significant market opportunity for UPI as we navigate through this pandemic and support the reopening plans of government, businesses, schools and other institutions. This significant order represents their growing interest to invest in indoor air quality solutions to keep tenants, workers and students safe from COVID-19, the flu and other airborne pathogens."
Mr. Hazelton continued: "While we hope we are seeing the end of the COVID-19 pandemic, these past two years have demonstrated the critical need for investment in indoor air quality. It takes time for government to deploy allocated funding, and we are now seeing the dollars being deployed in this critical area. We are working with clients on return-to-work strategies across the spectrum integrating IAQ, building automation and mechanical services, and are looking at limiting disruption to commercial and personal lives due to airborne illnesses of today and the future."
"Our 2021 strategy is working, and our expansion of offerings into areas such as IAQ and our choices in technologies are already paying off," stated Frank Carnevale, Chief Growth Officer, Universal PropTech Inc. "We have begun discussions with distributors and dealers to support our choices of products, and we are eager to sign up new partners, over the coming weeks and months."
Interested in learning more about becoming a distributor or dealer for a number of UPI products? Please contact [email protected] for more information.
Market Size
According to Grande View Research - "The global air purifier market size was valued at USD 10.67 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 10.0% from 2021 to 2028. The market is expected to be driven by rising airborne diseases and increasing pollution levels in urban areas. Moreover, growing health consciousness, improving standards of living, and rising disposable income are expected to fuel the market growth. The rising adoption of air pollution control equipment, especially in developing regions across the globe, is anticipated to drive the market over the forecast period. The rising awareness regarding a healthy lifestyle, especially among the urban youth, is expected to significantly contribute to the market growth."
About Universal PropTech Inc.
Universal PropTech Inc. (TSXV: UPI) (OTCQB: UPIPF) (FSE: 8LH) is a leading building innovation company, selecting, integrating, deploying, and maintaining PropTech in healthy buildings. As trusted advisors, we provide holistic evidence-driven solutions and services for building developers, owners, and operators in Canada. UPI operates through its wholly owned subsidiary, VCI Controls Inc. ("VCI"), a leading supplier and integrator of PropTech healthy building solutions and services. VCI is an industry leader in the acquisition and deployment of intelligent building technology, including the integration of all building systems utilizing the latest in communications technologies and standards. VCI's business focuses on digital controls and mechanical services, performance monitoring, and energy efficiency solutions.
With headquarters in Toronto, Universal PropTech Inc. has offices across Canada including, Halifax, Montreal, and Ottawa. For more information, visit www.universalproptech.com.
Contact Information
Universal PropTech Inc.
Chris Hazelton
President and Chief Executive Officer
[email protected]
(647) 300-2957
Forward Looking Statements
Certain information provided in this press release constitutes forward-looking statements and information within the meaning of applicable securities laws. Forward-looking information typically contains statements with words such as "anticipate", "believe", "forecast", expect", "plan", "intend", "estimate", "propose", "project", or similar words suggesting future outcomes. The Company cautions readers and prospective investors in the Company's securities not to place undue reliance on forward-looking information as, by its nature, it is based on current expectations regarding future events that involve a number of assumptions, inherent risks and uncertainties, which could cause actual results to differ materially from those anticipated by the Company.
The forward-looking information included herein is expressly qualified in its entirety by this cautionary statement. The forward-looking information included herein is made as of the date hereof and the Company assumes no obligation to update or revise any forward-looking information to reflect new events or circumstances, except as required by law.
Neither the TSX Venture Exchange ("Exchange"), nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
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