HaloSource, Inc. (“HaloSource” or “the Company”) (HAL.LN, HALO.LN) the clean water technology company traded on London’s AIM, today announces the successful completion of the first commercial production of its new heavy metal reduction media, HaloPure® Adsorption Composite (“HPAC”) in conjunction with its supply partner, Chematek S.p.A.
As previously announced on 13 February 2017, this novel filtration media is expected to be the class-leading lead reduction media for gravity-cartridge and low pressure applications, capable of meeting rigorous National Sanitation Foundation/ANSI 53 (“NSF/ANSI 53”) certification in devices such as pitchers and bottles. This innovation represents the Company’s second major technology under the HaloPure® brand, joining its disinfection technology the world’s leading brominated bead media for cartridge-based bacteria and virus disinfection. Bottles and pitchers using the new lead reduction media will now be available for sale alongside our existing products utilising our disinfection technology.
The Company expects to initially use the new HPAC media in a bottle under its own brand, astrea, to be launched in the United States via crowdfunding and e-commerce platforms in H1 2018. This launch is expected to generate the Company’s first significant revenues from the sale of drinking water technology in the world’s largest consumer market for drinking water hydration devices. We expect to also power our hydration devices in China with this media in conjunction with our e-commerce partnership with Shanghai JiuBan Industrial Co. Ltd. announced on 21 June 2017.
James Thompson, Chief Executive Officer of HaloSource, commented:
“This is a significant moment in the Company’s history. Water technologies are extremely complicated to develop and have a notoriously long development cycle. In conjunction with our partner Chematek, our innovation team has once again delivered one-of-kind technology that meets the highest of regulatory standards. We look forward to the market response to solving the heavy-metal problem for consumers, and view this as an inflection point for our company and a key value driver for all stakeholders.“
Market Abuse Regulation
The information communicated in this Announcement is inside information for the purposes of Article 7 of Market Abuse Regulation 596/2014 (“MAR”). For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is being made on behalf of the Company by Craig Crowell, Chief Financial Officer.
James Thompson, Chief Executive Officer
+1 425 419 2258
Craig Crowell, Chief Financial Officer
+1 425 419 2248
Cantor Fitzgerald Europe (NOMAD and Broker)
Andrew Craig, Richard Salmond
+44 207 894 7000