EXCLUSIVE: Applied UV's LED Supply Subsidiary Wins $4.5M Deal From Leading Luxury Co-living Developer

Applied UV, Inc AUVI subsidiary LED Supply Co bagged a multi-million dollar purchase agreement from The X Company, the country’s premiere co-living rental property developer. 

What Happened? The $4.5 million secured and assured orders for LED Supply Co will provide back-lit mirrors, LED lighting, and control systems for X Co’s growing billion-dollar portfolio of properties. 

The orders will be fulfilled by LED Supply Co, in partnership with MunnWorks which will manufacture the backlit mirrors in its newly acquired 100,000-square-foot Brooklyn, NY facility.

Why Does It Matter? Ben Brichta, Partner X Co, said, “From a customer perspective, the merger between AUVI and LED Supply Co. creates efficiencies and allows X Co to build on what is already a foundational supplier relationship. Having access to the MunnWorks’ high-end U.S.-made decorative backlit mirrors and case goods at competitive prices allows us to provide a better-quality product to our residents while staying within our allotted budget on a project.”

The orders, secured through LED Supply Co, more than double X Co.’s previous orders with LED Supply Co. and expand to include backlit mirrors supplied by Applied UV subsidiary MunnWorks, with subsequent orders planned for later this year. 

The joint order is the first in what the Company expects to be many collaborative sales efforts forecasted as part of the merger of Applied UV, LED Supply Co., and PURO Lighting announced in January of this year.

Max Munn, CEO of Applied UV Inc, said, “We believe both new and existing customers will take advantage of the diverse product lines of the merged entity offerings leading to larger purchase orders and increased revenue over time.”

Price Action: AUVI shares closed higher by 2.23% at $1.01 on Friday.