Spectaire Announces Initial Delivery of a 500 AireCore Unit Order with $5 Million Annual Recurring Revenue Potential
July 22 2024 - 8:00AM
Spectaire Holdings Inc. (NASDAQ: SPEC) (“Spectaire”), a pioneer in
environmental measurement technology, is pleased to announce
initial delivery of AireCore units to its previously announced
customer in the energy industry.
"When fully deployed this order, combined with
orders received from our Logistics customers, has the potential to
generate enough recurring revenue to bring our company to positive
cash flow," said Brian Semkiw, CEO of Spectaire.
AireCore’s patented and portable measurement
technology features micro mass spectrometer hardware, enabling
clients to directly sample their emissions in the field. The
accompanying software both monitors the results and facilitates
mandatory reporting requirements. The recurring revenue generating
software simplifies accurate emissions reporting in parts per
billion, regardless of the customers existing knowledge of mass
spectrometry and emissions reporting. Scope 1 emissions, defined as
direct emissions from owned or controlled sources, are a critical
area for companies seeking to reduce their environmental impact and
comply with regulatory standards.
Brian Semkiw, CEO of Spectaire continued, “With
our subscription-based approach we not only provide measurement but
the ongoing support and reporting to help clients achieve their
targeted emissions reduction. Spectaire and our clients benefit
from our ongoing participation in their emissions reduction
journey.”
The market opportunity for Air Quality
Monitoring Systems (AQMS) was valued at $5 billion in 2021 and is
growing rapidly as regulations tighten and industries seek
sustainable solutions. Spectaire is well-positioned to capitalize
on this expanding market by offering innovative solutions that meet
the needs of a wide group of industries.
About Spectaire Holdings
Inc.
Spectaire Holdings Inc. (NASDAQ: SPEC) stands at
the forefront of air quality and emissions reduction technology.
With a relentless focus on innovation and environmental
sustainability, Spectaire is committed to helping industries
monetize their investments in emissions mitigation to the benefit
of their businesses, the economy, and the environment. For more
information, please visit www.spectaire.com.
For additional information contact:
IR@spectaire.com
Dave GentryRedChip Companies
Inc.1-800-733-24471-407-491-4498SPEC@redchip.com
Forward-Looking Statements
This release contains certain forward-looking
statements within the meaning of the federal securities laws. These
forward-looking statements generally are identified by the words
"believe," "project," "expect," "anticipate," "estimate," "intend,"
"strategy," "future," "opportunity," "plan," "may," "should,"
"would," "will continue," "will likely result," and similar
expressions. The forward-looking statements are based on the
current expectations of the management of Spectaire and are
inherently subject to uncertainties and changes in circumstances
and their potential effects and speak only as of the date of such
statement. There can be no assurance that future developments will
be those that have been anticipated.
Forward-looking statements reflect material
expectations and assumptions, including without limitation
expectations and assumptions. Such expectations and assumptions are
inherently subject to uncertainties and contingencies regarding
future events and as such are subject to change. Forward-looking
statements involve a number of risks, uncertainties, or other
factors that may cause actual results or performance to be
materially different from those expressed or implied by these
forward-looking statements. These risks and uncertainties include
but are not limited to those discussed and identified in public
filings made by Spectaire with the U.S. Securities and Exchange
Commission (the "SEC") and the following: Spectaire’s ability to
operate as a going concern; Spectaire’s requirement of significant
additional capital; Spectaire’s ability to remain listed on a stock
exchange; Spectaire’s limited operating history; Spectaire’s
history of losses; Spectaire’s ability to attract qualified
management; Spectaire’s ability to adapt to rapid and significant
technological change and respond to introductions of new products
in order to remain competitive; the loss of or nonperformance by
one or more significant customers; disruptions of Spectaire’s
manufacturing operation; changes in governmental regulations
reducing demand for Spectaire’s products or increasing Spectaire’s
expenses; the effects of global health crises on Spectaire’s
business plans, financial condition and liquidity; changes or
disruptions in the securities markets; legislative, political, or
economic developments; Spectaire’s failure to obtain any necessary
permits or comply with laws and regulations and other regulatory
requirements; accidents, equipment breakdowns, labor disputes, or
other unanticipated difficulties or interruptions; potential cost
overruns or unanticipated expenses in development programs;
potential legal proceedings; and Spectaire’s failure to obtain or
maintain insurance covering all of Spectaire’s operations.
Should one or more of these risks or
uncertainties materialize, or should any of the assumptions made by
the management of Spectaire prove incorrect, actual results may
vary in material respects from those projected in these
forward-looking statements. All subsequent written and oral
forward-looking statements concerning matters addressed herein and
attributable to Spectaire or any person acting on its behalf are
expressly qualified in their entirety by the cautionary statements
contained or referred to herein. Except to the extent required by
applicable law or regulation, Spectaire undertakes no obligation to
update these forward-looking statements to reflect events or
circumstances after the date hereof to reflect the occurrence of
unanticipated events.
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