Strix Group PLC Update on the HaloPure Technology
02 September 2020 - 4:06PM
RNS Non-Regulatory
TIDMKETL
Strix Group PLC
02 September 2020
02 September 2020
Strix Group Plc
("Strix" or the "Group")
Update on the HaloPure Technology
Strix Group Plc (AIM: KETL), the global leader in the design,
manufacture and supply of kettle safety controls and other
complementary water temperature management components, is pleased
to announce the launch of its HaloPure technology water
purification and disinfection solution within the livestock farming
industry in the People's Republic of China ("PRC").
The HaloPure technology, acquired from HaloSource in March 2019,
has a unique ability to not only treat raw incoming water, but also
maintain an ongoing sanitised environment throughout the water
line, which is a perfect application for industries reliant on long
distance water lines with significant bacteria contamination such
as livestock farming. In the PRC alone, over 15 billion poultry and
pigs are farmed annually. The total addressable market is estimated
at RMB 5 billion, with Strix focusing on the higher end, automated
farms worth approximately RMB500 million which have been growing
rapidly.
The HaloPure filtration contains a porous, highly cross-linked
polymeric brominated resin with a high surface area which firstly
eliminates any microorganisms in the water and then releases
hypobromous acid to maintain ongoing microbial control which, in
turn, prevents pathogenic microorganisms from reproducing. Current
alternative solutions within livestock farming rely on an
ultra-filtration membrane technology which provides single use
filtration but no ongoing measure to control water microbial build
up.
Strix has been conducting live testing in the PRC for the past
12 months, with system enhancement and performance improvements due
to be completed in Q4 2020. The Board is encouraged by these
results and full commercial roll-out is anticipated in Q4 of this
year.
The HaloPure technology, is being developed in a number of their
new applications. Not only was Strix able to use this technology
during the COVID-19 pandemic as a disinfecting mist, killing any
viruses or bacteria on the clothes of employees entering its
factories, but this technology has also been identified for use in
numerous other healthcare and dentistry applications. Strix has
recently appointed one of the leading medical product manufacturers
in the PRC as an exclusive distributor within the dentistry market
in the PRC and trials are currently being undertaken in selected
hospitals.
Mark Bartlett, CEO of Strix, commented , "The Board is delighted
with the progress of the HaloPure technology following the
successful integration of HaloSource assets into Strix which it
purchased in March 2019. The technology played a key role for the
Company's business during the height of the pandemic and now it is
being adopted in numerous industries that require a water
purification and disinfection solution. It offers a unique, real
time solution of safe and effective disinfection of water to many
industries. The livestock farming industry in the PRC is clearly a
considerable market opportunity in addition to the healthcare and
dentistry industries. The technology is well positioned to respond
to an anticipated policy in the PRC which will require regulated
water for use in all livestock farms, hospitals and clinics.
"Following the strategic expansion into new markets, Strix
continues to focus its business beyond kettle controls and
capturing the medium-term opportunities by entering into commercial
agreements which will drive future profitability. We look forward
to updating the market on the development of this technology as
well as other new products in the coming months."
For further enquiries, please contact:
Strix Group Plc
Mark Bartlett, CEO
Raudres Wong, CFO +44 (0) 1624 829829
Zeus Capital Limited (Nominated Advisor
and Joint Broker)
Nick Cowles / Jamie Peel / Jordan Warburton
(Corporate Finance) +44 (0) 20 3829 5000
Stifel Nicolaus Europe Limited (Joint
Broker)
Matthew Blawat / Francis North +44 (0) 20 7710 7600
IFC Advisory Limited (Financial PR and
IR)
Graham Herring / Tim Metcalfe / Florence
Chandler +44 (0) 20 3934 6630
ABOUT STRIX GROUP PLC
Isle of Man based Strix, is a global leader in the design,
manufacture and supply of kettle safety controls and other
components and devices involving water heating and temperature
control, steam management and water filtration.
Strix's core product range comprises a variety of safety
controls for small domestic appliances, primarily kettles. Kettle
safety controls require precision engineering and intricate
knowledge of material properties in order to repeatedly function
correctly. Strix has built up market leading capability and
know-how in this field since being founded in 1982.
Strix is admitted to trading on the Alternative Investment
Market of the London Stock Exchange (AIM: KETL).
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