| FOR IMMEDIATE RELEASE
July 18, 2008
CONTACT
James Thompson, CFO
Phone: 425-974-1993
E: jthompson@halosource.com
HaloSource Raises $11.5 Million to Accelerate its Drinking Water Business
SEATTLE, WA-HaloSource, the clean water and antimicrobial technology company, has
raised $11.5 million from new and existing investors in a further round of growth financing,
to support the continued commercialization of its HaloPure drinking water purification
business.
The financing has been raised from two new investors, Origo Sino-India PLC (OSI.L) and
Origo Resource Partners Limited (ORP.L) and from existing investors including Unilever
Technology Ventures, a fund managed by Physic Ventures.
This round of funding follows a $15 million investment in the company in July 2007 from the
Masdar Clean Tech Fund, the Abu Dhabi based clean technology investment vehicle
combining the Abu Dhabi Future Energy Company and a consortium of investors including
Credit Suisse, Siemens and Consensus Business Group.
Origo Sino-India PLC is an AIM listed private equity investment and advisory company
focused on core economic growth opportunities in China and India. Origo Sino-India
provides consultancy services to Origo Resources Partners Limited, a fund which invests in
private-equity opportunities in the resources sector in China and India.
The HaloPure business was launched in India in 2006 in partnership with Eureka Forbes, the
country’s leading provider of home water filters. The company believes that the substantial
reduction in product price that its technology allows has increased the potential market for
household purification devices in India by a factor of three and that more than one million
consumers are now enjoying access to low-cost bacteria-free and virus-free water in their
homes thanks to the company’s revolutionary, patented HaloPure drinking water disinfection
technology.
HaloSource has also established partnership arrangements with Chanitex, a leading Chinese
water treatment company and, in Brazil, with Everest, a consumer water device
manufacturer. Negotiations are underway with a number of major multi-national and
regional companies for the use of HaloPure technology in a variety of consumer product
applications.
Harnessing similar technology, the company has developed HaloShield antimicrobial
treatments and in partnership with Clorox, the leading bleach brand in the US produces
Clorox FreshCare anti-microbial towels, now sold in Wal-Mart stores across the country.
Through its SeaKlear and StormKlear brands, HaloSource also provides water clarification
solutions to treat swimming pools and industrial waste water.
John Kaestle, President and Chief Executive Officer of HaloSource, said: “We are excited to
add a firm as well respected as Origo to our already deep base of investors. Origo operates
in the markets we target and understands the significant impact HaloPure will have on the
growing problem of access to safe drinking water and the opportunities that this offers. The
water purification market is worth around $18 billion annually and with the rapid
development of economies such as China, India and Brazil, is growing at between 15% and
20% a year.
“There remain great opportunities for us to provide primary water disinfecting technology in
the BRIC markets and countries with less developed infrastructure in addition to providing a
complementary solution to current water purification approaches in the first world.
“We have a technology which is simple, effective, offers good value and is well received by
consumers. We are already in business in India and in China and the funds raised, together
with the profitable revenue streams we have from our water clarification and antimicrobial
coatings businesses, will help us both expand our geographic reach and deepen our
positions in these large, valuable and growing markets.”
Chris Rynning, Chief Executive Officer of Origo Sino-India PLC said: “Our investment in
HaloSource underlines our focus on working with fast-growing companies and we look
forward to working with the highly experienced management team that HaloSource has
assembled to capture the significant growth opportunities available.”
Contacts:
HaloSource
James Thompson +1 (425) 974-1993
Chief Financial Officer
jthompson@halosource.com
Andrew Clews +1 (425) 974-1991
Vice President – Marketing & Business Development
aclews@halosource.com
Origo Sino-India PLC +86 1390 124 6417
Chris Rynning
Chief Executive Officer
Cubitt Consulting
Michael Henman/Desiree Maghoo/Allison Reid +44(0)20 7367 5100
About HaloSource:
HaloSource® is a global, antimicrobial and clean technology solutions company that provides
reliable, tested and proven solutions in the product categories of clean water and infection
control. The company was founded in 2002 with the goal of improving quality of life and
health through unique, proprietary antimicrobial solutions that reliably and effectively purify
water and kill germs. HaloSource’s ingredient brands include: HaloPure®, HaloShield®,
SeaKlear® and StormKlear®. HaloSource provides partners with unique, proprietary
solutions that offer broad market potential and acceptance and help partners differentiate
their offerings from those of competitors. HaloSource-branded ingredients are based on
innovative, patented, game-changing technologies that enable partners to quickly enhance
and differentiate their products. Based in the Seattle, Washington area, HaloSource is a
worldwide employer and operates manufacturing plants and offices in Raymond,
Washington, Shanghai, China and Bangalore, India.
For more information please visit the website at www.halosource.com
About Origo Sino- India PLC:
* Origo is an established private equity investor and strategic consultancy business, which
provides its shareholders with exposure to growth opportunities and private equity returns
in China and India.
* 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 is aligned with two major
institutions which provide a source of high quality deal flow. In China, Origo works closely
with China Equity, a leading private equity firm, whose chief executive is a member of
Origo's board. In India, Origo has entered into a memorandum of understanding with SBI
Capital Markets, one of the longest established companies in the Indian Capital Markets. A
former chairman of the State Bank of India is also a member of the board of Origo.
* Origo has a significant portfolio of investments in a range of industrial sectors, including
mobile applications and content; natural resources; art and paper products; furniture; food
and beverage; online gaming; anti-virus software; and bio energy.
About Physic Ventures
Physic Ventures, founded in 2007 and based in San Francisco, is a venture capital firm
committed to "investing in keeping people healthy." Physic Ventures partners with
entrepreneurial teams to build leading businesses in consumer-driven health and
sustainable living. Physic Ventures has invested in such firms as Dreamerz Foods, Elixir
Pharmaceuticals, Novomer, and Pharmaca Integrative Pharmacy.
http://www.physicventures.com
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