rns3 Jan 2017 08:27
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® disinfection technology has been registered by the US EPA for water purification*. The drinking water purification devices powered by HaloSource's HaloPure® 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
Sign In
Follow the stocks
