HaloSource raises $10 million to support commercialization of HaloPure

Jan 7 2010

HaloSource, a leading clean water technology company, has raised $10 million from new investors to support the further commercialization of its HaloPure^® water purification business.

The financing involved several major international investors including Prime Partners Asia Merchant Capital of Singapore. To-date, investors in HaloSource include the Masdar Clean Tech Fund, Unilever Technology Ventures, Origo Partners PLC and Mars Inc. Since 2007, the company has raised more than $30M to help drive the global roll-out of its drinking water business.

HaloPure^® drinking water purification technology provides low-cost, point of use water purification without the need for electricity or piped water. HaloPure^® kills viruses and bacteria to produce safe drinking water. The company sells its products to regional, super-regional and multi-national water device manufacturers that seek higher performance related to primary disinfection, bio-film inhibition and safe storage.

HaloSource has established multiple partnership arrangements in India, China and Brazil; all rapidly growing economies in which the markets for drinking water products are growing at 20% per annum. The company also recently announced an agreement with WAL (S.A.), the Swiss based international water filtration products company, for the use of its HaloPure^® disinfection cartridges in WAL‘s jug and pitcher products, with an initial focus on South America, the Middle and Far East and European markets.

The versatile multi-platform nature of HaloPure® is reinforced by more than 50 active development engagements with a variety of commercial partners, NGO’s and government agencies.

Recent approvals from regulatory bodies are also supporting interest from potential partners. In 2009 HaloPure^® became the first new drinking water disinfection technology in more than a decade to be granted registration by the United States Environmental Protection Agency. EPA registration is considered the gold-standard in the water purification market.

John Kaestle, Chief Executive of HaloSource, commented: “We continue to see outstanding opportunities for our technology to provide safe, clean, well priced, drinking water at point of use and we are delighted that both our growing network of commercial partners and our broadening investor base see the attractions of this proposition. This further funding round will position us well to take the business through to sustainable positive cash generation. We welcome the endorsement of an impressive group of new shareholders taking a stake in our company for the first time.”