Aeroclean Technologies Inc., an interior space air purification technology company, provides air purification solutions for hospitals and other healthcare facilities. The company offers interior air sterilization and disinfection products for the eradication of harmful airborne pathogens, including COVID-19. It provides Purgo, an air purification and air sanitization device for indoor spaces; and Purgo Lift that provides air purification for elevators. The company was formerly known as AeroClean Technologies, LLC. Aeroclean Technologies Inc. was founded in 2011 and is headquartered in Palm Beach Gardens, Florida.
IPO Year: 2021
Exchange: NASDAQ
Website: aeroclean.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 6/14/2022 | Buy → Hold | The Benchmark Company | |
| 2/1/2022 | Speculative Buy | Benchmark |
Transaction Highlights Creates a pro forma company with a substantial base of revenues, a solid balance sheet and a path to profitability.A broad range of highly complementary, proprietary and patented, FDA-cleared air purification devices.Powerful brand value and recognition with an installed base of over 350,000 air purification units, providing a foundation for growing recurring revenues from both consumables and the launch of a SaaS software solution to enable facility managers to monitor and control individual room air quality on an enterprise wide basis.Expected double-digit organic revenue growth for the combined company, with gross profit expected to grow faster than revenues due to
Healthcare Technology Expert To Lead Targeted Sales Efforts For FDA-Cleared Germicidal UV-C Air Hygiene Technology PALM BEACH GARDENS, Fla., June 08, 2022 (GLOBE NEWSWIRE) -- AeroClean Technologies ("AeroClean" or the "Company") (NASDAQ:AERC), a leading air hygiene technology company and producer of patented UV-C LED technology inside its innovative Pūrgo™ air purification device, announces Jimmy Thompson has joined the Company as Vice President of Strategic Sales. The addition of Thompson to the AeroClean team is a strategic investment to support core business and revenue growth within targeted industry verticals. Along with driving sales initiatives, Thompson will also be focused on dev
PALM BEACH GARDENS, Fla., May 12, 2022 (GLOBE NEWSWIRE) -- AeroClean Technologies ("AeroClean" or the "Company") (NASDAQ:AERC), a pathogen elimination technology company harnessing patented UV-C LED technology with Pūrgo™ to significantly reduce and remove harmful pathogens to keep work, play and life going, today announced the appointment of Timothy J. Scannell, former President and Chief Operating Officer at Stryker, to its Board of Directors (the "Board"). On May 11, 2022, the Board appointed Mr. Scannell as a new director on the Board, chair of the Nominating and Corporate Governance Committee and a member of the Compensation Committee. Mr. Scannell brings over 30 years of experienc
The Benchmark Company downgraded AeroClean Technologies from Buy to Hold
Benchmark initiated coverage of AeroClean Technologies with a rating of Speculative Buy
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Establishes an industry-leading provider of premium, FDA-cleared air purification products and solutionsPositions the combined company to selectively pursue additional value-creating M&A opportunities within the broader indoor air quality ("IAQ") and cleantech industriesPowerful brand value and large installed base of over 350,000 air purification units creates an opportunity to drive recurring revenues through consumables and the launch of a software solution to monitor and control air quality on an enterprise-wide basisRecent developments include the release of Molekule's PECO-HEPA Tri-Power Filter for Air Pro, Air Mini+ and Air Mini; AeroClean's Pūrgo™ air purifier receiving FDA clearance
Additional Testing Being Performed to Confirm Elimination of Influenza and RSV PALM BEACH GARDENS, Fla., Dec. 07, 2022 (GLOBE NEWSWIRE) -- AeroClean Technologies ("AeroClean" or the "Company") (NASDAQ:AERC), a leading air hygiene technology company, today announced that, the U.S. Food and Drug Administration ("FDA") has granted AeroClean 510k clearance (K223328) to update its Pūrgo™ air purifier's ("Pūrgo™") indications for use to include the elimination of SARS-CoV-2, the RNA virus that causes COVID-19. The FDA has reviewed the laboratory performance data and confirmed the applicability of Pūrgo to remove SARS-CoV-2 from the air in indoor environments. The clearance adds SARS-CoV-2 to th
PALM BEACH GARDENS, Fla., Nov. 14, 2022 (GLOBE NEWSWIRE) -- AeroClean Technologies ("AeroClean" or the "Company") (NASDAQ:AERC), a leading air hygiene technology company, today reported financial results for the three and nine months ended September 30, 2022 ("Q3 2022"). Third Quarter 2022 Highlights and Recent Developments The Company entered into a definitive agreement with Molekule, Inc. ("Molekule"), a market leader for premium air purifiers, to combine in an all-stock merger that the Company believes will establish a combined company as a market leader for premium, FDA-cleared air purification products, and solutions.Molekule recently began collaboration with key customers across th
Transaction Highlights Creates a pro forma company with a substantial base of revenues, a solid balance sheet and a path to profitability.A broad range of highly complementary, proprietary and patented, FDA-cleared air purification devices.Powerful brand value and recognition with an installed base of over 350,000 air purification units, providing a foundation for growing recurring revenues from both consumables and the launch of a SaaS software solution to enable facility managers to monitor and control individual room air quality on an enterprise wide basis.Expected double-digit organic revenue growth for the combined company, with gross profit expected to grow faster than revenues due to
PALM BEACH GARDENS, Fla., Aug. 16, 2022 (GLOBE NEWSWIRE) -- AeroClean Technologies ("AeroClean" or the "Company") (NASDAQ:AERC), a leading pathogen elimination technology company, today reported financial results for the three and six months ended June 30, 2022 ("Q2 2022"). All financial information is presented in U.S. dollars unless otherwise indicated. Second Quarter 2022 Highlights Granted U.S. Food and Drug Administration ("FDA") 510(k) clearance for Pūrgo™ medical grade air hygiene technology intended for medical use and the elimination of harmful airborne microorganisms.Completed $15.0 million private placement in June 2022, positioning the company to evaluate a wide range of stra
Takes Action Against Aeroclean Technologies Seeking $20 Million in damages Applied UV, Inc. (NasdaqCM: AUVI) ("Applied UV" or the "Company"), a pathogen elimination technology company that applies the power of narrow-range ultraviolet light ("UVC") for surface areas and catalytic bioconversion technology for air purification to destroy pathogens safely, thoroughly, and automatically, today announced that its wholly-owned subsidiary, Sterilumen, Inc., has filed a lawsuit in the amount of $20 million against Aeroclean Technologies, Inc. (NASDAQ:AERC) and its predecessor, Aeroclean Technologies, LLC, for trademark infringement, unfair competition and damaging Sterilumen. John F. Andrews, App
Independent Laboratory Testing Proves The AeroClean Pūrgo™ Unit Shows 99.998% Efficacy Against The Highly Transmissible Omicron Variant Of The Virus That Causes Covid-19 PALM BEACH GARDENS, Fla., Aug. 10, 2022 (GLOBE NEWSWIRE) -- AeroClean Technologies ("AeroClean" or the "Company") (NASDAQ:AERC), a leading air hygiene technology company today announced that independent laboratory testing has proven the company's Pūrgo™ air purifier is effective at reducing the viral concentration of the Omicron variant of SARS-CoV-2, the virus that causes COVID-19, which the CDC identifies as the current dominant variant in the United States. The independent testing was conducted by Innovative Bioanalys
PALM BEACH GARDENS, Fla., July 27, 2022 (GLOBE NEWSWIRE) -- AeroClean Technologies ("AeroClean" or the "Company") (NASDAQ:AERC), a leading air hygiene technology company announces that it has been named the official Health & Safety Sponsor of the FLCMAA, the largest chapter worldwide, which is made up of over 700 members and over 300 country, golf, city and yacht clubs. Through the FLCMAA organization, AeroClean bridged partnerships with several organizations and recently deployed Safe Air Technology spaces at multiple clubs, including the Venice Yacht Club, The Wanderers Club, and Frenchman's Reserve. Indoor Air Quality (IAQ) is a critically important issue to preserve business continu
PALM BEACH GARDENS, Fla., June 29, 2022 (GLOBE NEWSWIRE) -- AeroClean Technologies, Inc. ("AeroClean" or the "Company") (NASDAQ:AERC), announced today the closing of its previously-announced $15.0 million private placement with a single institutional investor. The transaction consists of 1,500,000 shares of AeroClean common stock and warrants to purchase up to an aggregate of 1,500,000 shares of common stock. The purchase price for one share of common stock and a warrant to purchase one share of common stock was $10.00. The warrants have an exercise price of $11.00 per share. Warrants with respect to approximately 1.26 million shares will become exercisable on the earlier of the effective
PALM BEACH GARDENS, Fla., June 27, 2022 (GLOBE NEWSWIRE) -- AeroClean Technologies, Inc. ("AeroClean" or the "Company") (NASDAQ:AERC), announced today that it has entered into a securities purchase agreement with a single institutional investor for the purchase of 1,500,000 shares of its common stock and warrants to purchase up to an aggregate of 1,500,000 shares of common stock in a private placement. The purchase price for one share of common stock and a warrant to purchase one share of common stock is $10.00. The warrants have an exercise price of $11.00 per share. Warrants with respect to 1.26 million shares will become exercisable on the earlier of the effective date of a registration
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