Energy Focus, Inc. (EFOI) stock prices were up by a significant 21.68% shortly after the market opened for trading on June 3rd, 2021, bringing the price per share up to USD$5.22 early on in the trading day.
Collaboration with threeUV
The industry leader in sustainable LED lighting and human-centric lighting (HCL) technologies recently announced the forming of a partnership with the UV product marketing and distribution company, threeUV. The partnership will see the offering of the proprietary UV by Energy Focus line of UV-C Air and Surface Disinfection (UVCD) solution to institutional and government purchasing cooperatives.
Scope of UVCD
These cooperatives service 23000 public and non-profit sector agencies, which includes more than 9000 school districts across 50 states. This partnership aims to facilitate increases in disinfection efficacy, reductions in labor costs, and the protection of the public spaces being served.
The company’s portable UV-C air disinfection tower, nUVo, is among the products included in the partnerships offerings, along with abUV, the company’s UV-C air disinfection and lighting troffer. abUV incorporates EFOI’s award winning EnFocus dimmable/color tunable LED lighting system. Also offered is mUVe, the UV-C autonomous surface disinfection robot for commercial and industrial markets. The entirety of the UV by Energy Focus product lineup is designed to deliver almost comprehensive disinfection rates for airborne or surface-dwelling pathogens, including, but not limited to, mold, bacteria and viruses, of which SARS-CoV-2 and its variants are a part.
threeUV was one of the five vendors that was recently awarded supply agreements for UV-C Stationary and Autonomous Indoor Air Cleaning Systems and Services, with each agreement spanning a three year period. The agreements were solicited by the National Cooperative Purchasing Alliance (NCPA), with anticipated annual volumes under the agreements amounting to USD$50 million. The company was also awarded a three-year supply agreement with The Interlocal Purchasing System (TIPS), which services more than 6000 K-12 school districts across the U.S.
Future Outlook for EFOI
Armed with a strategic partnership that will expand and consolidate EFOI’s market footprint, the company is poised to continue its trajectory of success. The company hopes the additional resources garnered from the surge in stock prices will be able to open further avenues of growth. Current and potential investors look to the management to leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.