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Demand for Comprehensive Cleaning Services Grow Post-Pandemic


News provided by

FinancialBuzz.com

26 Aug, 2022, 13:00 GMT

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FinancialBuzz.com News Commentary

NEW YORK, Aug. 26, 2022 /PRNewswire/ -- Due to the growing implementation of AI and automation in household equipment, the domestic robot market reached a high growth rate in recent years. For example, the development of machine vision cameras has rapidly expanded. As such, companies have begun using these 2D and 3D machine vision cameras with AI technologies to effectively map edges of various rooms and areas such as staircases, and to recognize obstacles, such as dustbins, and cables, doorsills, and rugs. Typically, a domestic robot is a service robot used for various household activities such as floor cleaning, pool cleaning, lawn mowing, or for various medical and disinfecting purposes. Such robots are usually autonomous in nature and are controlled by an integrated control system. E-Home Household Service Holdings Limited (NASDAQ: EJH), iRobot Corp. (NASDAQ: IRBT), Chimerix, Inc. (NASDAQ: CMRX), Waste Management, Inc. (NYSE: WM), UiPath Inc. (NYSE: PATH) 

Since the pandemic began, demand for cleaning robots has increased, as did demand for disinfection services. Disinfection techniques are critical for houses, according to the World Health Organization, to limit the risk of contamination from COVID-19 as well as monkeypox. Amid the COVID-19 crisis, the global market for home cleaning services was estimated at USD 5.6 Billion in the year 2020, and is projected to reach a revised size of USD 10 Billion by 2026 while growing at a CAGR of 9.6% over the analysis period, according to Global Industry Analysts. The pandemic has made sanitation more important than ever, exponentially accelerating the demand for residential cleaning services.

E-Home Household Service Holdings Limited (NASDAQ: EJH) announced yesterday breaking news that, "the Company has been awarded household and cleaning service contracts worth a total of RMB 4.7 million in August."

Pursuant to the contracts signed, E-Home will be the designated household and cleaning service provider for two years for seven properties under the management of Shanghai Fanying Environment Engineering Co. Ltd., Fujian Company and Fujian Fusheng Property Management Co Ltd.

Among the contracts signed, Putian YouYou Cleaning Co., Ltd. ("YouYou"), a subsidiary of the Company, has been awarded RMB2.9 million new property cleaning contracts which last between one and two years to provide daily sweep and maintain cleanliness at four designated neighborhoods in Fujian city.

YouYou is a leading cleaning services provider and a member enterprise at Fujian Province Cleaning Industry Association. E-Home acquired 60% of equity interests in YouYou in January.

Mr. Wenshan Xie, Chairman and CEO of E-Home, commented: "E-Home is pleased to add these projects to another milestone of cleaning and maintenance services that will contribute to both our 2022 and 2023 performance. In addition, the healthy and long term relationship and the trust our clients rest on us will support the state of E-Home's efforts towards cementing our leading position in the market. All of these projects support the overall improvement and resiliency of our business, support our ambition to diversify into other business areas."

For our "Buzz on the Street" Show featuring E-Home Household Service Holdings Limited latest corporate news, please head over to: https://www.youtube.com/watch?v=TMfJNriLc-U 

iRobot Corp. (NASDAQ: IRBT) introduced on May 31st, iRobot OS, an evolution of the company's Genius Home Intelligence platform. iRobot OS delivers a new level of customer experience for a cleaner, healthier and smarter home. Leveraging iRobot's growing base of over 20 million connected devices sold, a unique understanding of the home environment and an advanced computer vision platform, iRobot OS is already enabling over 2.7 million cleaning missions each and every day around the world. "As iRobot expands its ecosystem of connected robots and smart home devices, we are placing a strategic emphasis on superior software intelligence delivered on high-performance, beautifully designed hardware," said Colin Angle, chairman and CEO of iRobot. "iRobot OS brings it all to life, enabling products that understand the home environment, respect customer preferences and intuitively connect with the smart home ecosystem to get the job done. iRobot OS lets our robots get smarter and clean even more effectively over time, delivering valuable new features and functionality that benefits all customers, including pet owners, busy families and those looking to get the most out of their voice assistants. This is just the beginning, and we look forward to continuously building upon iRobot OS, providing customers with even more thoughtful ways to clean in the months and years ahead."

Chimerix, Inc. (NASDAQ: CMRX) announced on May 16th, it has entered into a definitive agreement with Emergent BioSolutions Inc. (Emergent) to acquire its exclusive worldwide rights to brincidofovir, including TEMBEXA®. TEMBEXA is a medical countermeasure for smallpox approved by the U.S. Food and Drug Administration (FDA) in June 2021. "Emergent is an ideal partner to maximize the long-term potential of TEMBEXA to ensure pandemic preparedness in the event of a smallpox recurrence," said Mike Sherman, Chief Executive Officer of Chimerix. "This transaction significantly enhances Chimerix's balance sheet and allows us to focus and invest in our development pipeline. We also continue to participate in the longer-term economics of TEMBEXA through US milestones and double-digit royalties from US and international revenues."

Waste Management, Inc. (NYSE: WM) announced earlier this year that its wholly-owned subsidiary WM Organic Growth, and Tailwater Capital LLC closed a joint venture that provides financial, commercial, and operational support to Continuus Materials to assist the company with scaling production facilities within the waste-to-product industry. Financial terms of the joint venture were not disclosed. Continuus Materials develops and operates manufacturing facilities that upcycle plastic and fiber materials from municipal solid waste into Everboard™, a proprietary, high-performance, low-slope roof cover board. Continuus Materials' process reduces landfill waste and will generate significantly lower life-cycle greenhouse gas emissions than competing products made from traditional materials. "At WM, we are unlocking impactful sustainable solutions as we move toward a more circular economy, and the Continuus Materials business is one example of what we're aiming to achieve," said Jim Fish, president and chief executive officer, WM. "Continuus Materials brings an innovative solution that recovers recyclable materials in addition to materials that cannot otherwise be recycled and gives them a new, purposeful life. We look forward to working together with Tailwater Capital to grow the Continuus Materials business while achieving a shared goal of reducing waste."

UiPath Inc. (NYSE: PATH) reported last month it has been positioned by Gartner, Inc. as a Leader in the 2022 Gartner® Magic Quadrant™ for Robotic Process Automation1 research report. UiPath was named a Leader for the fourth year in a row, and in this report UiPath was positioned highest for Ability to Execute and furthest for Completeness of Vision. "We believe UiPath will be a leader in automation, artificial intelligence, and machine learning, which all companies will embrace over time," said UiPath Co-CEO Robert Enslin. "We believe this recognition affirms our position at the leading edge of the market as we help customers navigate the challenges facing companies around the world today. We are dedicated to innovating our automation platform, driving our market segmentation, and delivering world-class customer experiences."

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About FinancialBuzz.com 

FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the 'Site') is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. FinancialBuzz.com has not been compensated directly by any of the companies mentioned here in this editorial unless mentioned otherwise. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions, recommendations or bias commentary as we purely incorporate public market information along with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For e-home household service holdings limited. video production, filming editing, news reporting, financial and corporate news dissemination, FinancialBuzz.com has been compensated five thousand dollars by the company. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use, please visit: http://www.financialbuzz.com

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