SEATTLE, WA, May 7, 2012 -- HaloSource Inc., a clean water technology company known for its HaloPure® water purification cartridges, has signed a partnership with Perfect Water Purification Manufacturing Co. Ltd in China, a leading global supplier of consumer goods with US$1.6 billion in sales in 2010.
The partnership marks HaloSource's entry into the direct selling channel for drinking water purification devices in China. Under the terms of the partnership agreement, HaloSource's HaloPure® cartridges will be inserted into Perfect's multi-stage purifier to deliver 99.9% reduction of virus and bacteria. HaloSource has granted Perfect the exclusive right to sell devices powered by HaloPure technology through its direct sales channels in the pressurized water purification segment in China. To maintain this exclusive right, Perfect is required to purchase a minimum of 500,000 units annually, representing approximately US$4.5 million of revenue for HaloSource. The overall market for drinking water devices in China is estimated to be worth more than US$2.5 billion annually and growing at more than 20% CAGR, according to research group Frost & Sullivan.
Martin Coles, CEO of HaloSource, noted, "We are delighted to announce the news of our agreement with Perfect, a global leader in consumer product sales in China. The agreement ties completely to our new strategy of building strong partnerships with leading companies that are able to deploy successfully our technologies. We are proud of the HaloPure media's distinction as the first and only drinking water purification technology to be approved under a new tough standard developed by China's Ministry of Health (MOH), engaging with Perfect shortly thereafter to begin development of this breakthrough line of products."
In 2010, Perfect was ranked as one of the Top 10 Global Direct Sales companies in the world by Power Networking monthly magazine, with US$1.6 billion in sales. It was also the second enterprise to be approved by the Chinese government to market its products directly to consumers through more than 6,000 outlets across China.
About HaloSource
HaloSource is a global clean water technology company headquartered in Seattle, U.S.A. and is focused on the provision of cleaner, clearer, and safer water using its proprietary technologies across four platforms. HaloPure® became the first drinking water technology in 30 years to be registered by the United States Environmental Protection Agency ("USEPA"). HaloPure has also been approved by China's Ministry of Health ("MOH") -- a certification widely recognized as the world's most stringent performance requirements for water purification, a key differentiator for multi-national partners.
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