HaloSource Inc Agreement with Panasonic for Indian Market (6843W)
21 August 2015 - 4:00PM
UK Regulatory
TIDMHAL TIDMHALO
RNS Number : 6843W
HaloSource Inc
21 August 2015
21 August 2015
HaloSource, Inc.
("HaloSource" or the "Company")
HALOSOURCE AND PANASONIC TO LAUNCH CONSUMER DRINKING WATER
PRODUCTS INTO THE INDIAN MARKET
HaloSource Inc. (HAL.LN, HALO.LN), the global clean water
technology company traded on London's AIM, announces today its
agreement with Panasonic India Private Limited ("Panasonic India"),
a wholly-owned subsidiary of Panasonic Corporation, to launch a
line of Panasonic branded, gravity-fed, water purification devices
powered by HaloSource's HaloPure(R) water purification technology
into the Indian market at the end of August 2015. Panasonic
Corporation is a worldwide leader in the development of diverse
electronics technologies and solutions for customers in the
consumer electronics, housing, automotive, enterprise solutions and
device industries.
Panasonic's product launch in India will include a range of
gravity-fed water purification devices targeting low and
middle-income consumers in urban and rural markets. These products
will deliver HaloSource's superior disinfection power without the
need for electricity and includes a first of its kind drinking
water purification device designed to fit onto the clay pitchers
that offer a larger volume of storage and are commonly used in
homes in rural India. Panasonic's strong go-to-market strategies
are expected to further drive the launch.
The residential drinking water purification market in India, the
fifth largest market globally, was estimated to total approximately
US$1 billion in 2014 and is expected to grow 7-9% CAGR by 2019
(source: 2015 Baytel Report). The market is fragmented and, in
rural markets in particular, there is limited awareness of these
devices and also a lack of affordable solutions. The gravity-fed
water purifier segment accounts for 45% of new unit sales in India
driven by low electricity in rural areas and affordability (source:
2015 Baytel Report).
HaloSource's HaloPure(R) disinfection technology has been
registered by the US EPA for water purification(*) . The drinking
water purification devices powered by HaloSource's HaloPure(R)
water purification technology can significantly and quickly kill
waterborne viruses by 99.99% and bacteria by up to 99.9999% while
preventing bacterial recontamination and, coupled with
antimicrobial storage, will keep treated water fresher for
longer.
Martin Coles, CEO of HaloSource, commented,
"We are pleased to be working in partnership with Panasonic, a
global consumer product goods leader committed to the cause of
bringing clean water to consumers across India. This agreement
further reinforces the value placed by the world's largest brands
on the efficacy of our EPA approved bromine-based purification
system and our strategy of being the water purification technology
inside the devices of market-leading partners around the globe.
HaloSource's proven and differentiated technologies and solutions
help our partners provide their customers best-in-class water
purification devices.
Panasonic is a leading, global brand and business with a long
and successful history of pursuing superior performance and value
through technology innovation for its customers. At HaloSource, we
look forward to working as a trusted partner with Panasonic in
helping them drive growth in the important gravity-fed water
purification market in India."
Daizo Ito, President of Panasonic India, commented:
"India is facing the very big and growing challenge of access to
safe drinking water, which has become more acute over the years.
This, coupled with increased awareness of the risks that unsafe
drinking water brings, has led to a rapid rise in demand for water
purifiers in the country. However, the challenge has always been
introducing an affordable yet effective water purifier solution.
Given this need that exists, Panasonic India, in partnership with
HaloSource, has introduced new water purification devices to help
provide clean, purified water to all across urban India and
especially those in rural markets."
(*) EPA registrations apply to certain US models only.
Enquiries:
HaloSource
Martin Coles, Chief Executive Officer +1 425 974 1975
James Thompson, Chief Financial Officer +1 425 974 1993
Liberum Capital (NOMAD and Broker)
Richard Bootle/Jill Li/Steve Pearce +44 203 100 2222
Allenby Capital (Joint Broker)
Chris Crawford/Kat Perez +44 203 328 5656
Newgate (PR Adviser) +44 207 680 6550
James Benjamin/Alex Shilov/Andre Hamlyn halosource@newgatecomms.com
About HaloSource
HaloSource, Inc. creates innovative solutions for water
purification that serve people, preserve the planet and protect our
most valuable resource. The Company works with scientists and
industry experts across the globe in search of new ways to improve
water quality and has been awarded more than 70 patents for its
ground breaking chemistries, which provide effective and
environmentally responsible solutions to the growing issue of water
stress.
Founded in Seattle, Washington, HaloSource has grown to become
an influential leader in three market segments: drinking water,
recreational water, and environmental water treatment and
remediation. HaloSource is headquartered in the US with operations
in China and in India. Learn more about the Company's research and
development and future cutting edge technologies by visiting
www.halosource.com.
HaloKlear, HaloPure, SeaKlear and HaloShield are either
trademarks or registered trademarks of HaloSource, Inc. All other
trademarks, brand names or product names belong to their respective
holders.
About Panasonic Corporation
Panasonic Corporation is a worldwide leader in the development
of diverse electronics technologies and solutions for customers in
the consumer electronics, housing, automotive, enterprise solutions
and device industries. Since its founding in 1918, the company has
expanded globally and now operates 468 subsidiaries and 94
associated companies worldwide, recording consolidated net sales of
7.715 trillion yen (c.US$4, 500 billion) for the year ended March
31, 2015. Committed to pursuing new value through innovation across
divisional lines, the company uses its technologies to create a
better life and a better world for its customers. To learn more
about Panasonic: http://www.panasonic.com/global.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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