22 Sep 2017 07:00
22 September 2017
HaloSource, Inc.
("HaloSource" or the "Company")
SEVEN STEP ECOTECH SELECTS HALOPURE® TECHNOLOGY FOR NEW LINE OF FUNCTIONALIZED WATER BOTTLES
HaloSource Inc. (HAL.LN, HALO.LN), the global clean water technology company traded on London's AIM, announces today it has reached agreement to partner with Seven Step Ecotech Co. Ltd. ("Seven Step") to launch a new line of purifying water bottles for the Asian market. These devices will be powered by HaloSource's class-leading HaloPure® disinfection technology.
As a division of Xiamen HONTAY Plastic Industrial Co. Ltd, Seven Step has access to a mature distribution channel in China and Southeast Asia for Hontay's "non-functionalized" (eg. non-filtering or purifying) bottles and pitchers and believes there is a significant potential for functionalizing bottles and pitchers with filters that can make water safe to drink. To capitalize on this opportunity, Hontay launched a new brand called "Seven Step" which will build upon its solid foundation and experience selling bottles in the Asian markets. The company plans to initially leverage its distribution channels in India and Indonesia, and plans to expand into China, SE Asia and the Middle East over the coming years.
James Thompson, CEO of HaloSource, commented:
"This is a significant deal and illustrates the movement from traditional bottles and pitchers to functionalized devices (making potable water safe) by housewares companies to fully differentiate offerings in the marketplace. This agreement demonstrates the desire of traditional hydration companies to avoid commoditization and create a more defensible recurring revenue stream with the addition of filtering cartridges. We are excited to be working with Hontay, a leading Chinese company with a strong reputation as they launch this new line-up of hydration products under the Seven Step brand. We too believe in the opportunity in the hydration segment and this deal with Hontay reaffirms the market's confidence in our HaloPure® disinfection technology as the best-in-class option for providing safe water in gravity, point-of-use devices."
Mr. LiTai Zhang, President of Seven Step, commented:
"We spent a great deal of time evaluating the technologies available to functionalize our offerings and found HaloPure® to be unmatched in performance, flexibility and regulatory certifications. We look forward to a long and fruitful partnership in exploiting this opportunity that we jointly believe to be significant."
Enquiries:
HaloSource, Inc. | |
James Thompson, Chief Executive Officer | +1 425 419 2258 |
Craig Crowell, Chief Financial Officer | +1 425 419 2248 |
Liberum Capital (NOMAD and Broker) | |
Richard Bootle, Jill Li, Steve Pearce
| +44 203 100 2222 |
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® 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.
The HaloPure® and astrea® brands are registered trademarks of HaloSource, Inc. All other trademarks, brand names or product names belong to their respective holders.
About Hontay
Xiamen HONTAY Plastic Industrial Co., Ltd. specializes in producing home & garden and outdoor products, such as water bottles, sports bottles, camping bags and glass cups. The company is located in Xiamen, west of the Taiwan Straits. They have successfully operated in many countries around the world over the past 8 years. Its products are welcomed both at home and abroad, because of professional technology, excellent quality, competitive price and the best after-sales services.
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.