7 Jan 2010 07:00
7 January 2010
Origo Partners plc ("Origo")
HaloSource Fundraising
Origo is pleased to announce that its portfolio company HaloSource Inc. ("HaloSource" or "the Company") has successfully raised US$10 million from new investors to fund the further commercialisation of its patented water purification technology.
The fundraising, which was an extension of the series D fundraising in which Origo participated in July 2008, has been supported by a leading international institutional investor and a Singapore based investment management firm.
HaloSource, which is headquartered in Seattle and has manufacturing facilities in Raymond (near Seattle), Bangalore and Shanghai, has invented, developed and commercialised a range of technologies used in water purification, water clarification and antimicrobial textile coatings. The Company's water purification technology provides low-cost, point of use water purification without the need for electricity or piped water supply. Its technology kills germs and bacteria to produce safe drinking water.
The Company is rapidly growing the distribution network for its water purification products in India, China and other developing markets where there is significant and growing demand for low cost water purification treatment and services. In addition to developing markets, the Company is also targeting developed markets such as the United States of America, where it received regulatory approval from the Environmental Protection Agency to market its product in March 2009.
Commenting on the announcement, Chris Rynning Chief Executive of Origo said:
"This fundraising is an important step in the further development of HaloSource and will enable the Company to continue to commercially develop its water purification business. We are convinced that demand for the kind of low cost, point of use water purification systems for which HaloSource provides the groundbreaking technology is likely to grow significantly in both developed and developing markets. We look forward to continuing to work with the Company and its new blue chip investors to capture this attractive opportunity."
For further information about Origo please visit www.origoplc.com or contact:
| Origo Partners plc Chris Rynning (chris@origoplc.com) Niklas Ponnert (niklas@origoplc.com) | +86 1390 124 6417 +86 1351 106 1672 |
| Nominated Adviser: Smith & Williamson Corporate Finance Limited Azhic Basirov | +44 (0)20 7131 4000 |
| Broker: Liberum Capital Limited Simon Atkinson | +44 (0)20 3100 2222 |
| Public Relations: Aura Financial Andy Mills / Nina Legge | +44 (0)20 7321 0000 |
Notes to editors:
Origo Partners:
Origo is an established private equity investor and strategic consultancy business, which provides its shareholders with exposure to growth opportunities and private equity returns based on the China growth story.
Origo's business model is to generate capital gains from private equity investment in growth companies from which it also generates fees for consultancy services related to further fundraisings, M&A and strategic development.
Origo signed a memorandum of understanding with GLG Partners LP in March 2008 to explore asset management and advisory opportunities in China, India and other markets.
Origo has a significant portfolio of investments in a range of industrial sectors, including metals and mining, agriculture, renewable energy/clean tech and technology, telecom and media ("TMT").