FREDERICK, Md., Oct. 17, 2024 (GLOBE NEWSWIRE) -- TOMI Environmental Solutions, Inc.^? (“TOMI”) (NASDAQ: TOMZ), a global leader in disinfection and decontamination technologies, today announced that its iHP Corporate Service division is expected to recognize revenues of approximately $650,000 for the three month ended September 30, 2024. This marks a record for the division’s quarterly performance, surpassing historical averages of approximately $250,000 per quarter or $1 million annually. TOMI intends to announce its full Q3 financial results, including total revenue for the third quarter on October 30^th, 2024.

The division’s significant revenue growth in the third quarter reflects the rising demand for TOMI’s iHP services, particularly within the life sciences sector. TOMI has effectively expanded its marketshare, strengthening its position as a leader in providing comprehensive solutions across a broad range of environments. As a result of ongoing strategic initiatives, the Company remains well positioned to further expand its footprint in the life sciences space.

“Our iHP Corporate Service has emerged as a key revenue driver,” said E.J. Shane, COO of TOMI Environmental Solutions. “The trust placed in our technology by the life sciences industry, coupled with our enhanced product capabilities and expert technicians, has fueled substantial growth this quarter. Furthermore, we have seen some competitors leave the space that provides additional opportunity for TOMI to continue to capture market share.”

TOMI’s momentum is further supported by several multi-year service contracts. Key agreements include:

• MD Anderson Cancer Center (3-year contract)
  
  

• LFB USA, a globalized company in pharmaceutical bioproducts, contracted for twice a year decontamination
  
  

• Pfizer, TOMI’s initial major routine service player in global biopharma
  
  

• EMAQ Partnership, servicing additional Pfizer facilities, the west coast, and maintaining steady BIT solution demand and brand awareness
  

“As more industries adopt SteraMist iHP technology for critical disinfection protocols, TOMI anticipates continued growth in service demand. Our recently awarded contracts and the expansion of service operations positions us to accelerate overall sales across multiple industries,” added Dr. Halden S. Shane, CEO of TOMI Environmental Solutions.

TOMI? Environmental Solutions, Inc.: Innovating for a safer world?  
TOMI? Environmental Solutions, Inc. (NASDAQ: TOMZ) is a global decontamination and infection prevention company, providing environmental solutions for disinfection through the manufacturing, sales and licensing of its premier Binary Ionization Technology ? (BIT?) platform. Invented under a defense grant in association with the Defense Advanced Research Projects Agency (DARPA) of the U.S. Department of Defense, BIT? solution utilizes a low percentage hydrogen peroxide as its only active ingredient and uses patented ionized Hydrogen Peroxide (iHP?) technology in all SteraMist systems to create superior disinfection. TOMI products are designed to service a broad spectrum of use sites, including, but not limited to, hospitals and medical facilities, biosafety labs, pharmaceutical facilities, commercial and office buildings, schools, restaurants, meat and produce processing facilities, and police and fire departments.