INDIANAPOLIS, July 31, 2023 /PRNewswire/ — SAAM Inc. announces the company has entered into a second Investment Agreement with a global tier-one. The SAAM Board of Directors approved the investment structure on May 31, 2023. Rob Qualls, CEO and Founder of SAAM stated, “This tier-one brings to SAAM a rich heritage in the fire protection market, an impressive team of engineers, a strong management group, with a multi-million dollar investment and a significant equity position.” Qualls said, “The company is a pioneer in the smoke alarm market and is a world leader in product development, manufacturing, and distribution.”
Within the last 12 months, the tier-one and SAAM have worked together to test the SAAM S-Series technology which has demonstrated an ability to perform as specified in a lab test environment, the company has a state-of-the-art smoke and fire test facility at its corporate offices. As part of their investment agreement, the company will maintain two seats on the SAAM Board of Directors.
“The SAAM partnership will bring to the tier-one a novel, patented, air monitoring detection system that will allow for early warnings of chemicals indicative of smoke, fire, and harmful toxins in the air,” said Erik Deutch, SAAM Chief Technology Officer. “The tier-one is looking forward to continuing collaboration with SAAM on the commercialization of the SAAM S-Series technology.”
The tier-one investment is the second significant investment in SAAM bringing the total ownership to 35%, further strengthening the tier-one relationship with SAAM.
About SAAM: SAAM is a spectral sensor company currently in development of smoke, fire, gas, and air quality detection and alert devices, the SAAM S-Series. The S-Series of devices are pre-emptive and alert in seconds and come in two versions, a portable and hardwired device. Visit the SAAM website at www.saam.us.com for more information.
SOURCE SAAM Inc.