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July 22 (Reuters) - Spectaire Holdings Inc SPEC.O:

• SPECTAIRE ANNOUNCES INITIAL DELIVERY OF A 500 AIRECORE UNIT ORDER WITH $5 MILLION ANNUAL RECURRING REVENUE POTENTIAL

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WATERTOWN, Mass., July 10, 2024 (GLOBE NEWSWIRE) -- Spectaire Holdings Inc. (NASDAQ: SPEC) (“Spectaire” or the “Company”), a pioneer in environmental measurement technology, today announced the upcoming release of AireCore 2.0, the next generation in micro mass spectrometry. Scheduled for shipment in Q1 2025, AireCore 2.0 will feature Double Focusing Mass Spectrometry (DFMS), a significant advancement over the previous Single Focusing Mass Spectrometry (SFMS) technology, positioning the Company for new revenue streams and substantial market opportunities.

Key Enhancements with DFMS:

• Enhanced Resolution and Accuracy: DFMS technology allows for greater separation of ions with similar mass-to-charge ratios, providing higher resolution and more accurate mass determinations.
• Broader Analytical Range: DFMS expands the range of detectable molecules, including those with higher masses and more complex structures.

These advancements will enable the identification of a wider array of substances, including complex organic and biological molecules. As a result, AireCore 2.0 will open new markets for Spectaire, including pharmaceuticals, environmental analysis, agricultural monitoring, and advanced materials research, while continuing to enhance capabilities in the Company’s core industries such as logistics and energy.

The global mass spectrometry market is expected to reach $15.6 billion by 2033, growing at a CAGR of 8.9%, according to Precedence Research. The enhanced capabilities of AireCore 2.0 significantly strengthen Spectaire’s ability to capitalize on this growth. The increased resolution and sensitivity will attract more customers seeking precise, reliable, and cost-effective solutions, ultimately driving significant revenue growth for Spectaire.

Dr. Brian Hemond, Chief Technology Officer of Spectaire, commented on this development: “AireCore 2.0 is the natural evolution of the AireCore platform. By incorporating a double focusing mass analyzer, we significantly expand our intellectual property differentiation. This new system maintains our primary vision of providing price-accessible, easy-to-use, in-situ, real-time spectral analysis, while delivering enhanced resolution essential for applications such as identifying heavier fuel hydrocarbons in process controls and analyzing biologically important compounds like pharmaceuticals and respiratory products.”

Brian Semkiw, CEO of Spectaire, also highlighted the strategic impact of AireCore 2.0: “The introduction of AireCore 2.0 not only strengthens our position in existing markets such as logistics and energy but also allows us to broaden our installations at current clients while becoming a new platform solution for other industries like pharmaceuticals and environmental analysis. AireCore revolutionized environmental measurement by bringing mass spectrometers out of the labs and into the field, and with AireCore 2.0, we are excited to broaden the industries we serve. This technological leap underscores our commitment to driving innovation and expanding our market reach with cutting-edge technology.”

Spectaire is poised to revolutionize the field of micro mass spectrometry with AireCore 2.0, setting a new standard for accuracy and accessibility.

For more information about AireCore 2.0 and its upcoming release, please visit https://www.spectaire.com.

About Spectaire Holdings Inc.

Spectaire Holdings Inc. (NASDAQ: SPEC) is a pioneering company in the field of environmental measurement technology, dedicated to developing innovative solutions that provide accurate, accessible, and efficient analytical capabilities across various industries. Our mission is to enhance scientific and industrial processes through advanced spectral analysis technologies.

For additional information, contact:IR@spectaire.com

Dave GentryRedChip Companies, Inc.1-800-733-24471-407-491-4498SPEC@redchip.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.

No Offer: This communication is for informational purposes only and shall neither constitute an offer to sell nor the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation, or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdictions. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act or an exemption therefrom.

WATERTOWN, Mass., July 09, 2024 (GLOBE NEWSWIRE) -- Spectaire Holdings Inc. (NASDAQ: SPEC) (“Spectaire” or the “Company”), a pioneer in environmental measurement technology, today announced the appointment of Jim Lambis to the Company’s board of directors.

Lambis currently serves as VP Buildings and Systems Engineering at UPS International. Lambis brings a wealth of experience in emissions management, logistics, strategic planning, and systems engineering, making him a valuable addition to the Spectaire board.

“Jim brings a wealth of knowledge and a proven track record,” stated Brian Semkiw, CEO of Spectaire. “His strategic expertise and extensive experience will be invaluable as we accelerate our commercialization efforts, and his ability to optimize systems and drive operational efficiencies should provide significant value as we scale our business and expand our market reach.”

The global market for air quality monitoring systems is experiencing significant growth, driven by increasing regulatory pressures and a growing awareness of environmental sustainability. According to Grandview Research, the air quality monitoring system market was valued at $5.1 billion in 2022 and is forecast to surpass $8.9 billion by 2030, growing at a compound annual growth rate of 7.2%.

About Spectaire Holdings Inc.

Spectaire is at the forefront of air quality and emissions reduction technology. With a relentless focus on innovation and environmental sustainability, Spectaire is committed to helping industries monetize their investments in emissions mitigation to the benefit of their businesses, the economy, and the environment.

For additional information, contact:IR@spectaire.com

Dave Gentry, CEORedChip Companies, Inc.1-407-644-4256SPEC@redchip.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.