HaloSource Inc Supply agreement (3075L)
18 July 2017 - 4:00PM
UK Regulatory
TIDMHAL TIDMHALO
RNS Number : 3075L
HaloSource Inc
18 July 2017
18 July 2017
This announcement contains inside information
HaloSource, Inc.
("HaloSource" or the "Company")
Announces 3 year supply agreement with manufacturing partner for
new lead-reduction media
HaloSource Inc. (HAL.LN, HALO.LN), the global clean water
technology company traded on London Stock Exchange's AIM market,
announces today that it has entered into a supply agreement with
its manufacturing partner Chematek SpA for production of the
Company's new lead reduction media. This media is expected to be
the class-leading product for reduction of lead in drinking water
for gravity-cartridge applications and will be capable of meeting
National Standards Foundation/ANSI 53 ("NSF/ANSI 53") certification
in a certified device.
Chematek, a privately-owned specialty chemical trading company
based in Milan, Italy, has been a leading name in global chemicals
trading and distribution since 1980. Chematek has undergone dynamic
growth in recent years, adding commercial business lines including
an engineering contracting, manufacturing and consultancy unit in
the field of industrial and municipal water treatment. The company
is quickly establishing itself as a powerful player on the
international stage having built and established a network of
offices, agents and associates throughout Italy, Europe, Asia and
Central America, facilitating its multifarious activities. In-house
facilities and strategic alliances with top raw material and
intermediate manufacturers around the world allows its customer
base access to a wide spectrum of value-add solutions.
The 3-year supply agreement provides Chematek with exclusive
manufacturing rights for HaloSource's proprietary lead reduction
media and outlines the manufacturing specifications, quality
requirements and specific requirements ensuring the protection of
the company's intellectual property.
Commercial-level production of the media is expected to begin in
Q4 2017.
The novel lead reduction media invented by HaloSource scientists
for application in gravity-fed devices (such as pitchers and
bottles) overcomes the challenge of reducing both colloidal lead
and dissolved lead salts from water, meeting and exceeding NSF/ANSI
53 standards for lead reduction to below the current acceptable
threshold of 10 parts per billion (ppb). This breakthrough media
represents a major step forward in the application of a cartridge
based form for reduction of lead from household drinking water when
deployed in a gravity fed application (including pitchers, bottles
and counter top units) and also has the potential to reduce other
heavy metals in drinking water.
James Thompson, CEO of HaloSource, commented,
"We are very excited to announce this supply agreement with
Chematek as it will solidify our ability to supply the media via a
trusted global manufacturing partner with the ability to produce in
multiple regions around the world including Asia, Europe and N.
America. We look forward to the commercial release of this media
later this year for inclusion into our OEM partner's devices as
well as in our own filtration products launching under the
astrea(TM) brand."
Dr. Giovanni Papandrea, CEO of Chematek, commented,
'We are delighted to be the exclusive manufacturer and supplier
of HaloSource's novel lead reduction media. We are passionate in
maximising water purity and limiting environmental impact through
decreasing usage of plastic bottles. We believe that HaloSource's
cartridge based solution firmly addresses both these issues and we
look forward to a long and fruitful partnership."
Enquiries:
HaloSource, Inc.
James Thompson, Acting Chief
Executive Officer +1 425 419 2258
Craig Crowell, Chief Financial
Officer +1 425 419 2248
Liberum Capital (NOMAD and
Joint 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 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. 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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