HaloSource Inc Midea to Collaborate with Halosource (0456T)
03 January 2017 - 6:00PM
UK Regulatory
TIDMHAL TIDMHALO
RNS Number : 0456T
HaloSource Inc
03 January 2017
3 January 2017
This announcement contains inside information
HaloSource, Inc.
("HaloSource" or the "Company")
MIDEA TO COLLABORATE WITH HALOSOURCE ON TECHNOLOGY FOR CONSUMER
DRINKING WATER PRODUCTS IN INDIA
HaloSource Inc. (HAL.LN, HALO.LN), the global clean water
technology company traded on London's AIM, announces today its
agreement with Midea Group, a publicly listed Fortune 500 company
that offers one of the most comprehensive ranges in the home
appliance industry. Midea is a brand leader in China in many
consumer product categories and is the world's largest producer of
major appliances. As the world's No. 1 brand of air treatment
products, air coolers, kettles and rice cookers, Midea is now
expanding its presence and offerings in drinking water purification
in the Indian market.
Midea's latest product launch in India will include 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 will further expand and diversify Midea's lineup
beyond its current range of reverse osmosis devices in the
market.
The residential drinking water purification market in India
amounts to over $600 million in total, with non-electric water
purifier devices accounting for 45% of new unit sales (source: 2015
Verify Markets) driven by poor electrical connectivity and
reliability in rural areas, as well as the affordability of these
devices According to the TechSci Report, "India Water Purifier
Market Forecast & Opportunities, 2019", the water purifier
market in India is expected to grow at a CAGR of around 15% until
2019.
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.
James Thompson, Acting CEO of HaloSource, commented,
"We are pleased to announce this very important, initial
collaboration with Midea in India. and we look forward to
continuing to work on products that can further expand this
relationship over time into new product lines and new geographies.
This agreement again illustrates the value that the world's leading
brands continue to put on our EPA-registered, bromine-based
purification technology. This agreement also reinforces 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. Midea 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 Midea in helping
them drive growth in the important gravity-fed water purification
market in India."
Tim Liu - Project Manager of Midea, commented,
"HaloPure is a proven reliable and effective water purifying
technology in the Indian market. Once our product launches
successfully in 2017, we expect our two companies will have a
brighter future to deliver safe, clean drinking water globally via
coordination of new product development"
(*) EPA registrations apply to certain US models only.
Enquiries:
HaloSource, Inc.
James Thompson, Acting Chief
Executive Officer +1 425 419 2257
Craig Crowell, Chief Financial
Officer +1 425 419 2248
Liberum Capital (NOMAD and Broker)
Richard Bootle, Jill Li, Steve
Pearce +44 203 100 2222
About HaloSource
HaloSourceä, Inc. innovates and integrates technologies to
deliver clean, drinking water solutions to partners with trusted
brands around the world. The Company works with scientists and
industry experts across the globe in search of new ways to improve
drinking water quality and has been awarded more than 30 patents
for its ground breaking chemistries, which provide safe drinking
water for more than 10 million consumers globally. The Company's
class-leading HaloPure(R) Drinking Water technology has the highest
global certifications, including registration with the US EPA.
Founded in Seattle, Washington, HaloSourceä has grown to become
an influential leader in drinking water purification. HaloSourceä
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.
HaloPure(R) is a registered trademark of HaloSourceä, Inc. All
other trademarks, brand names or product names belong to their
respective holders.
This document contains certain forward-looking statements
relating to the Company. The Company considers any statements that
are not historical facts as "forward-looking statements". They
relate to events and trends that are subject to risk and
uncertainty that may cause actual results and the financial
performance of the Company to differ materially from those
contained in any forward-looking statement. These statements are
made by management in good faith based on information available to
them and such statements should be treated with caution due to the
inherent uncertainties, including both economic and business risk
factors, underlying any such forward-looking information.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCTMBLTMBMJMPF
(END) Dow Jones Newswires
January 03, 2017 02:00 ET (07:00 GMT)
Halosource CP S (LSE:HAL)
Historical Stock Chart
From Apr 2024 to May 2024
Halosource CP S (LSE:HAL)
Historical Stock Chart
From May 2023 to May 2024