Molekule, a San Francisco-based air purification company, has announced a definitive agreement to acquire Aura Smart Air, a listed Israeli company specializing in smart air technology. The all-stock merger, valued at approximately $10 million, will see Molekule acquire Aura for a purchase price of around 3.5 million shares.
Aura’s patented smart air technology platform is currently in use in hospitals, schools, businesses, hotels, restaurants, buses, and nursing homes across 87 countries worldwide. The technology monitors and purifies the air, helping to reduce airborne pollutants and improve indoor air quality.
With the acquisition of Aura, Molekule aims to implement the advanced software, sensor, and IoT technology across its entire product range and sales channels. This will allow the company to further enhance its air purification solutions and expand its reach in the global market.
Molekule’s innovative air purification technology has gained recognition in recent years, with the company’s flagship product, the Molekule Air, receiving awards from TIME Magazine and Consumer Reports. The Molekule Air uses PECO technology, which destroys pollutants at the molecular level, offering a more effective solution than traditional HEPA filters.
The merger with Aura will enable Molekule to incorporate cutting-edge smart air technology into its existing product range and expand its customer base. The move is expected to position the company as a leader in the air purification industry, offering innovative solutions to meet the growing demand for clean indoor air.
The merger is set to close early in the second half of 2023, subject to regulatory approvals and other customary closing conditions.