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By Anthony Termini, Benzinga
According to Fortune Business Insights, the worldwide market for cleaning services was projected to reach almost $400 billion in 2023. In this context, Nebraska-based company, CleanCore Solutions, Inc. (AMEX: ZONE) has announced a string of wins over the past few months.
CleanCore’s products can be used in a range of service industries, including hotels, hospitals, and airports. While there is no official government estimate for how many new hotels will be built in the United States by 2050, if the current market is any indication, the demand for hotels will continue to grow. Room demand is set to reach an all-time high in 2024 according to STR research. Additionally, it is predicted hotel occupancy will increase by 2.5% globally and hotel average daily rate (ADR) is projected to grow by 4.9% in the next 12 months.
Similarly, while the federal government doesn’t offer an estimate of the number of new airports that will be built by 2050, the FAA does say that the number of people getting on planes by then will grow to more than 300 million. That represents a 111% increase over 2021.
The National Center for Education Statistics, part of the U.S. Department of Education, in its most recent accounting said that the number of colleges and universities in America was 5,916. It also estimated that enrollments through 2030 would remain relatively equivalent to where they are today.
According to Fortune Business Insights, the property management business in the United States is expected to grow at a compound annual rate of nearly 8% through 2028.
Each of these estimates is likely to have an impact on the growth prospects of CleanCore Solutions, which has developed a patented technology that replaces traditional cleaning chemicals with a safe, low-cost solution it brands as Aqueous Ozone.
Who Is CleanCore Solutions And What Is Aqueous Ozone?
CleanCore is an Omaha, Nebraska-based manufacturer of equipment and supplies that create safe aqueous ozone from regular tap water. The result is an effective, all-natural and chemical-free cleaner. In comparison to Ecolab (NYSE: ECL), a company that provides chemical options, Cleancore seeks to change the norms of cleaning practices in a manner that is more safe and cost effective.
Aqueous Ozone is a highly concentrated solution proven to be a powerful oxidizer, says CleanCore. It is an effective bacteria and germ killer. Because it is completely natural, it is also simpler, healthier and more sustainable than other chemical-based disinfectants.
CleanCore Focuses On Key Industries
CleanCore’s strategy to grow its business by focusing on those industries looking for clean, all-natural solutions to replace the harsh chemicals they currently use in everyday cleaning and specialty processes.
The company provides solutions to hospitals and other healthcare facilities to keep their physical plant clean and to provide unique hygiene solutions in their food service and laundry operations. It does the same for colleges and universities around the world, as well as at airports and commercial buildings.
Part of the allure of CleanCore is its products create safer environments for employees, while saving money for companies because of the inexpensive technology that Cleancore utilizes.
Scoring New Wins Within Its Target Markets
CleanCore announced in September that it had completed the successful installation of more than 200 cleaning systems at a leading university in the United States that has implemented initiatives to become a chemical-free campus, adding to the four other universities of varying sizes that have engaged CleanCore for similar initiatives. The installation followed an initial pilot program of the company's products. The contract also provides employee training and support.
CleanCore’s chief executive officer, Clayton Adams, said that the company is dedicated to promoting sustainability and health and to bringing chemical-free cleaning solutions to schools across the globe. He said that “in addition to the health and environmental benefits, [the company’s] solutions reduce chemical costs, providing a highly attractive return on investment."
The program includes CleanCore's Power Caddies; portable units that produce the company’s patented Aqueous Ozone solution and on-site Fill Stations; wall-mounted dispensers of the company’s proprietary cleaning solution.
The new relationship tees up future opportunities for CleanCore to provide the university with its products that sanitize water used in laundry facilities and potable ice machines.
Creating Revenue Generating Opportunities From Previous Pilot Programs
At the end of July, CleanCore launched a separate revenue-generating pilot program with one of the world's leading logistics companies. The program was initiated at one of the client's million-plus square-foot facilities.
This program also deploys Power Caddies as well as other cleaning solutions. The project is expected to jumpstart a rollout of CleanCore products throughout the client’s organization.
According to Adams, "We are pleased to announce the successful commencement of this pilot program in collaboration with a Fortune 50 logistics company.”
Adams also commented that the customer has an enormous international footprint. The hope is that it will become a significant opportunity to expand because the client has more than 500,000 employees around the world.
“Given the early positive feedback, our track record of high customer satisfaction, and meaningful cost savings, we are highly confident this initial purchase order will translate into significant, long-term, enterprise-wide contracts,” said Adams.
Just the month before, CleanCore announced that one of the largest airports in the southwestern United States – serving more than 48 million passengers in 2023 – will be installing Power Caddies after another successful pilot test.
CleanCore says that it is continuing to see a number of different types of facilities (including hospitals, hotels, schools and commercial buildings) adopting new technologies and solutions to eliminate traditional chemical cleaners. It says it sees the cost savings its solutions provide as a catalyst for this.
Adams added that “the value proposition in combination with a switch from dangerous chemicals makes the adoption of our technology easy for our customers."
More company information is available at CleanCoreSol.com.
Featured photo by Erik Odiin on Unsplash
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