Manufacturing of Spectaire’s AireCore Outsourced to Columbia Tech, a Subsidiary of the Coghlin Companies
WATERTOWN, Mass., Nov. 29, 2023 (GLOBE NEWSWIRE) -- Spectaire Holdings Inc. (NASDAQ: SPEC) (“Spectaire” or the “Company”), a provider of innovative air quality monitoring and emissions reduction services, announced that it has shipped its first commercial units from manufacturing partner, Columbia Tech, a subsidiary of Coghlin Companies.
The outsourcing of manufacturing to Coghlin Companies significantly reduces the ramp-up time and capital requirements to initiate the scaled production of AireCore?, Spectaire’s patented micro-mass-spectrometer. Aligning with an experienced commercialization partner allows Spectaire to focus on delivering units to its customers at scale without investing in the significant overhead of additional facilities, machinery, staff, and other complex infrastructure required to vertically integrate manufacturing. Ahead of the imminent start of the series production and subsequent delivery to customers, Coghlin Companies has already manufactured 40 units for Spectaire and shipped the first units to its customers.
“Working with Coghlin Companies in the mass production of AireCore? completes a significant personal milestone in the journey of inventing portable and accessible mass spectrometry,” said Dr. Brian Hemond PhD, Chief Technology Officer of Spectaire. “This relationship ensures my team and I are able to focus completely on innovating the future of Spectaire.”
“Spectaire is experiencing demand for our technology which has outpaced our internal production capability,” said Brian Semkiw, CEO of Spectaire. “Working together with Coghlin Companies provides a pathway to producing tens of thousands of instruments to meet the needs of our transportation and energy markets while our scientists innovate to expand the use of our product in other industries.”
“We are thrilled to have been selected as Spectaire’s trusted commercialization partner,” said Chris Coghlin, President and CEO of Coghlin Companies. “We are dedicated to providing world-class Time-to-Market services to the most innovative companies in the world and look forward to becoming a true extension of the Spectaire team, helping them deliver the highest quality products to market.”
For more information, please visit the Company’s investor relations website at ir.spectaire.com.
About Spectaire
Spectaire (Nasdaq: SPEC) is a provider of air quality monitoring and emissions reduction services. Spectaire is dedicated to delivering effective solutions that help businesses worldwide reduce their carbon footprint, with a focus on creating high-quality, traceable carbon credits.
About Coghlin Companies
Coghlin Companies and its wholly owned subsidiaries, Columbia Tech and Cogmedix, are a fourth generation, privately held time to market services company providing world-class product development, manufacturing, global fulfillment and aftermarket services to a diversified group of capital equipment innovators in the medical, life sciences, energy, security, robotics and automation, communications, semiconductor and LED industries. For more information, visit www.coghlincompanies.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 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.
