HaloSource Inc Supply agreement (3075L)

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

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

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July 18, 2017 02:00 ET (06:00 GMT)