HaloSource Inc Midea to Collaborate with Halosource (0456T)

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                    [phone] 
 Craig Crowell, Chief Financial 
  Officer                              [phone] 
 
 Liberum Capital (NOMAD and Broker) 
 Richard Bootle, Jill Li, Steve 
  Pearce                               [phone] 
 

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

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January 03, 2017 02:00 ET (07:00 GMT)