Sharps Technology Advances Shipment Under $50 Million SoloGard Supply Agreement and Begins Manufacturing Facility Upgrades

Second commercial delivery underway as part of multi-year contract with leading U.S. healthcare partner

Strategic manufacturing upgrades drive scalability, efficiency, and increases capacity to support production growth

NEW YORK, June 18, 2025 (GLOBE NEWSWIRE) — Sharps Technology, Inc. (Nasdaq: “STSS” and “STSSW”) (“Sharps”), an innovative medical device and pharmaceutical packaging company offering patented, best-in-class smart safety syringe products to the healthcare industry, today announced an update on the execution of its first shipments under the previously announced $50 million SoloGard sales agreement, alongside a series of advanced manufacturing upgrades.

Sharps has initiated the second shipment of its first commercial order of SoloGard syringes under a multi-year supply agreement with a U.S.-based leader in IV flushing solutions. In preparation for increasing production through the second half of the year, SoloGard manufacturing will be supported by newly installed molding and automation systems – investments that enable Sharps to meet anticipated demand in the second half of 2025 under the sales agreement.

As part of a phased manufacturing upgrade strategy, Sharps is implementing the following initiatives:

• Preparation and fulfillment of the second shipment under the multi-year agreement, continuing to meet customer demand
• Deployment of next-generation injection molding systems to expand manufacturing capacity and streamline cleanroom operations
• Installation of new machinery delivering over 10x energy efficiency compared to prior systems, reducing costs and advancing sustainable production
• Facility upgrades to cleanroom environments and control systems, enhancing product quality and regulatory compliance
• Integration of new ancillary systems to increase throughput and optimize molding and assembly workflows

Sharps is currently executing a $400,000 purchase order, announced June 4, 2025, as part of a broader five-year agreement to supply up to 500 million SoloGard syringes, marking the company’s transition into revenue-generating commercial operations. The contract includes customized 10mL SoloGard smart safety syringes – FDA- and WHO-approved devices that feature ultra-low waste design, standard luer lock compatibility, and re-use prevention technology.

Robert Hayes, CEO of Sharps Technology, commented: “Fulfilling this second shipment marks a significant milestone as we move into commercial execution under the $50 million SoloGard agreement. Over the past several months, we’ve made strategic investments in advanced molding systems, automation, and cleanroom infrastructure. These are transformational upgrades that expand capacity while improving energy efficiency, consistency, and our overall cost structure. These enhancements are central to our long-term strategy, allowing Sharps to fulfill major contracts, scale recurring revenue, and position the Company as an innovation-driven manufacturing partner to the healthcare industry.”

About Sharps Technology:
Sharps Technology is an innovative medical device and pharmaceutical packaging company offering patented, best-in-class smart-safety syringe products to the healthcare industry. The Company’s product lines focus on providing ultra-low waste capabilities, that incorporate syringe technologies that use both passive and active safety features. Sharps also offers products that are designed with specialized copolymer technology to support the prefillable syringe market segment. The Company has a manufacturing facility in Hungary. For additional information, please visit www.sharpstechnology.com.

FORWARD-LOOKING STATEMENTS:
This press release contains “forward-looking statements”. Forward-looking statements reflect our current view about future events. When used in this press release, the words “anticipate,” “believe,” “estimate,” “expect,” “future,” “intend,” “plan,” “poised” or the negative of these terms and similar expressions, as they relate to us or our management, identify forward-looking statements. Such statements, include, but are not limited to, statements contained in this press release relating to our business strategy, our future operating results and liquidity, and capital resources outlook. Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by the forward-looking statements. They are neither statements of historical fact nor guarantees of assurance of future performance. We caution you therefore against relying on any of these forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, without limitation, our ability to raise capital to fund continuing operations; our ability to protect our intellectual property rights; the impact of any infringement actions or other litigation brought against us; competition from other providers and products; our ability to develop and commercialize products and services; changes in government regulation; our ability to complete capital raising transactions; and other factors relating to our industry, our operations and results of operations. Actual results may differ significantly from those anticipated, believed, estimated, expected, intended, or planned. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We cannot guarantee future results, levels of activity, performance, or achievements. The Company assumes no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.

Investor Contact:
Holdsworth Partners
Adam Holdsworth
Phone: 917-497-9287
Email: IR@sharpstechnology.com