HaloSource Inc New e-commerce customer agreement (6603I)
21 June 2017 - 4:00PM
UK Regulatory
TIDMHAL TIDMHALO
RNS Number : 6603I
HaloSource Inc
21 June 2017
21 June 2017
HaloSource, Inc.
("HaloSource" or the "Company")
HaloSource announces Chinese e-commerce partnership
HaloSource Inc. (HAL.LN, HALO.LN), the global clean water
technology company traded on London's AIM, announces today that it
has reached an agreement with Shanghai JiuBan Industrial Co. Ltd,
("JiuBan") to distribute a new line-up of filtering water pitchers
and bottles, marketed under HaloSource's new astrea(TM) brand
(www.astreawater.com), via the e-commerce channel in China. The
five-year exclusive deal for the e-commerce channel in China calls
for JiuBan to purchase 360,000 pitchers and over 1 million
replacement cartridges representing over $10 million of revenue to
HaloSource in the first three years (years 4 and 5 exclusivity
minimums to be negotiated). The astrea(TM) line-up of bottles and
pitchers will offer both disinfection and heavy metal removal
benefits, one-of-a kind features in the Chinese market for portable
and on-the-go drinking water devices.
JiuBan was founded in 2012 and is an agent for top global brands
in China. Their line-up of distributed products includes household
appliances and consumer electronics, including air purifiers,
mobile phones, TVs, air conditioners, refrigerators, washing
machines, digital cameras, and laptops, with distribution on
e-commerce platforms such as JingDong, TaoBao, Amazon and
Yihaodian, as well as traditional retailers like Gome and
Yongle.
The new astrea(TM) branded products will utilize HaloSource's
patented HaloPure(R) disinfection and heavy-metal removal
technologies to ensure that water is safe to drink and tastes
great. The first astrea(TM) pitchers, powered by HaloPure
disinfection technology, will significantly and quickly kill
waterborne viruses by up to 99.99% and bacteria by up to 99.9999%,
making the water safe to drink while preventing bacterial
recontamination and keeping the water fresher for longer.
HaloSource's HaloPure(R) disinfection technology has been
registered with the US EPA and Chinese regulatory authority for
drinking water purification.
The Company's HaloPure heavy-metal Adsorbent Composite (patent
pending) is designed for application in gravity-fed devices (such
as pitchers and bottles) to meet the NSF/ANSI 53 standards for lead
reduction, below the current acceptable threshold of 10 parts per
billion (ppb). The use of this breakthrough media represents a
major step forward in the application of a cartridge-based form for
reducing lead and other heavy metals from household drinking water
when deployed in a gravity-fed application.
James Thompson, Chief Executive Officer of HaloSource,
commented,
The Chinese market for point-of-use drinking water products is
estimated to be more than $2.5 billion, growing at 15% -17%.
(Sources: 2014 Verify Markets Global Residential Water Treatment
Market Report; 2014 Freedonia China Consumer Water Treatment
Report). Rarely does a company get the opportunity to launch
products into a market this dynamic. Equally, the e-commerce
channel in China is large and growing rapidly ($760 billion,
growing at 25.6% according to a 2016 National Bureau of Statistics
Report from China), and we think this new partnership gives us an
excellent venue for telling the story of our products and
technologies in the e-commerce channel. JiuBan is a trusted partner
to world-class global brands online in China and we look forward to
working together to capitalize on this significant opportunity.
Enquiries:
HaloSource, Inc.
James Thompson, 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
HaloSource, 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 an estimated 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, HaloSource has grown to become
an influential leader in drinking water purification. 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.
HaloPure(R) is a registered trademark of HaloSource, Inc.
astrea(TM) is a new brand in progress of registration for consumer
products. 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
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