Agreement includes $10M investment to be used for growth initiatives
SAN FRANCISCO, Sept. 28, 2020 /PRNewswire/ -- Molekule, the company reinventing air purification, today announced that it closed a partnership agreement with Sourcenext, (listed on the first section of the Tokyo Stock Exchange, code: 4344), a market maker for brands in Japan including software, hardware, and IoT products. The agreement signals the next phase of growth for Molekule, which includes global expansion. In a commitment to Molekule's innovation, Sourcenext has also invested $10 million into the company. The funds will be used for growth initiatives as the company prepares to meet strong global demand for an air purification solution that destroys airborne pollutants, including viruses and chemicals.
"Molekule's breakthrough and patented PECO technology is unique in the marketplace, offering a new solution that both captures and destroys air pollutants," said Nori Matsuda, Founder and CEO of Sourcenext. "We find Molekule to be on the cutting edge of air purification, leading with significant technological solutions, hardware design and software offerings, and we are excited to bring their products into the Japanese marketplace for consumers there to experience a whole new approach to air purification."
The air purifier market in Japan is valued at roughly $500 million USD annually, with two million air purifiers sold every year. Sourcenext, which is known for raising sales performance in Japan for brands such as Rosetta Stone, Evernote, Owl Labs, and Dropbox in Japan, has deep roots in both the B2B and B2C channels.
"We are deeply honored to have Sourcenext as both an investor and distributor in Japan," said Jaya Rao, CEO of Molekule. "They sit at the intersection of hardware and software solutions, which suits Molekule well. As Japan is the third largest economy in the world, we are excited to bring revolutionary air purification technology to the local market and further our mission of providing clean air for all."
Air quality issues and the emergence of COVID-19 have created strong international interest in air purification. Molekule's PECO technology is capable of oxidizing airborne viruses, bacteria, and even microscopic chemical pollutants. Molekule's products meet all applicable performance criteria recommended by the U.S. FDA guidelines for use in helping to reduce the risk of exposure to SARS-CoV-2 (the virus that causes COVID-19) in healthcare settings during the COVID-19 public health emergency and can destroy other airborne pollutants such as formaldehyde and ozone, two common lung irritants.
Sourcenext will initially launch Molekule's Air Mini+, which boasts enhanced particle sensing and Auto Protect Mode, with additional products to follow. Starting today, Air Mini+ is now available for pre-sale orders in Japan from the molekule.jp web site and sourcenext.com, with retail stores to follow.
Sourcenext is also placing an incredible emphasis on providing air purification solutions to their own staff. As such, Molekule has become one of the key upgrades in their own Tokyo office as Sourcenext employees re-enter the workplace from sheltering-in-place during the pandemic. Sourcenext is known for their forward-thinking office set-ups and offering Molekule devices throughout their office settings is one of the many ways they are providing enhancements throughout their local Headquarter facility.
Sourcenext (Tokyo Stock Exchange, 4344:JP) is the largest distributor and creator of software, hardware, and IoT products in Japan. Founded in 1996, Sourcenext specializes in helping companies like Rosetta Stone and Evernote sell their software products and apps to a market of millions. And now with the launch of Pocketalk, Sourcenext is bringing its own products to the world. Through its expertise in user experience, marketing, and customer support, Sourcenext has earned the trust and respect of partners, retailers, and consumers around the world.
Molekule is a U.S. based company, who is on a mission to provide clean indoor air to everyone, everywhere. Based on more than 20 years of research and development, our patented Photo Electrochemical Oxidation (PECO) technology destroys the widest range of tiny pollutants, including VOCs, mold, bacteria, viruses and allergens. Using science to revolutionize air purification in ways that the industry hasn't seen, PECO sits at the crux of Molekule's air purification technology and has been rigorously validated by continual third-party laboratories and continual internal testing. We believe air pollution is one of the greatest challenges of our time, as it has been attributed to seven million premature deaths a year, according to the World Health Organization. This is why we are dedicated to the fight for clean air and are actively working with scientists, doctors, sufferers, and policy-makers to offer a fundamentally different approach to air purification. For more information, visit https://molekule.com.
SOURCE Molekule Inc