SEATTLE, July 19, 2017 /PRNewswire/ -- HaloSource,
Inc., (LON: HALO) a global leader in clean water technology,
today detailed plans to accelerate its presence in the global
drinking water filtration market as the company inks a significant
distribution deal and secures a round of strategic financing.
James Thompson, HaloSource's CEO,
said that move is a logical extension for the company, long-known
for its innovative technological solutions for delivering
best-in-class protection from common drinking water
contaminants.
"Since our founding, we've been building an extensive technology
portfolio of ways to treat water, powering some of the world's
foremost brands in household drinking water devices on an OEM
basis," Thompson said. "We are excited about our ability to use
this wealth of knowledge to introduce new technologies and consumer
products into the drinking water device market – a market worth
billions. We have innovated in a way that no other company has, and
now we will capitalize on those innovations to offer our own
unique, proprietary products."
The Seattle-based company,
known for its proprietary HaloPure® technology that
removes bacteria and viruses from drinking water, is also in the
final stages of commercializing a technology for removing heavy
metals, including lead. It recently closed its latest round of
financing from a group of well-recognized institutional investors
including Invesco, Hargreave Hale, and Woodford Investment
Management along with Italian manufacturing partner Chematek.
In addition, the company announced that it has finalized a
five-year distribution agreement with Shanghai-based JiuBan Industrial Co., a
Chinese e-commerce company, to market HaloSource's new
astreaTM line of water-filtration products
including water bottles, water pitchers and replacement cartridges.
HaloSource is expected to earn more than $10
million in revenue with this distribution deal in
China, a location where the water
filtration products market is growing at more than 30 percent
annually.
According to Kent Johnson,
managing partner of Alexander Hutton Venture Partners – as well as
one of the first HaloSource investors and a current board member –
HaloSource's water-purification technology is available at a time
of great need.
"When we began testing HaloSource's ability to provide safe and
cost-effective drinking water 15 years ago, we knew it had great
potential," Johnson said. "Now the crisis around drinking water has
come to the fore, and HaloSource stands ready with an immediately
executable solution.
"In a way, HaloSource had to wait for the market conditions to
evolve," Johnson added. "It shows the value of the company's
perseverance."
HaloSource's first two entrants in the market this year– a water
pitcher and water bottle marketed under the
astreaTM brand – will use patented technology
that removes 99.9 percent of bacteria and viruses, as well as heavy
metals, to ensure that the water is safe to drink. Thompson, who
assumed the role of CEO after 12 years with the company as CFO and
business development leader, says the new funding will be used
exclusively to drive the company's go-to-market strategy for the
astreaTM line, using a variety of channels both
on and off-line.
"We believe that we have a perfect alignment of
technology-driven products and consumer need in a world where
people are drinking more water for health reasons, but worry about
the continued deterioration of water quality. The awareness of the
issue grows every day," Thompson said.
About HaloSource
HaloSource, Inc. innovates and
integrates technologies to deliver clean drinking water solutions
to partners with trusted brands around the world. Since the
company's origin in 1999, creating positive social impact has been
the foundation of the HaloSource business, with the mission to
solve complex clean water challenges. The water filtration company
is considered a key innovator in the residential drinking water
market, supplying cutting-edge proprietary technology to household
appliance makers and suppliers. HaloSource solutions span across
all market segments, providing adaptable water purification and
adsorption solutions that range from entry-level gravity filters to
high-end pressurized systems. The company's patented technology is
used to serve clean, safe drinking water to more than 10 million
people globally.
Contact:
Annie
Alley
206-443-9357
Firmani + Associates Inc.
annie@firmani.com
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SOURCE HaloSource, Inc.