HaloSource raises $15M to expand drinking water business

Aug. 1, 2007
Masdar, through the Masdar Clean Tech Fund LP ("CTF") -- a global $250M clean-technology investment vehicle, has made a $15M investment in HaloSource, an antimicrobial and clean technology solutions company, to accelerate expansion of HaloSource's drinking water business in developing world markets. Masdar is an initiative of the Government of Abu Dhabi undertaken by the Abu Dhabi Future Energy Company ("ADFEC"), a private joint stock company established...

BOTHELL, WA, July 30, 2007 -- Masdar, through the Masdar Clean Tech Fund LP ("CTF") -- a global $250M clean-technology investment vehicle, has made a $15M investment in HaloSource, an antimicrobial and clean technology solutions company, to accelerate expansion of HaloSource's drinking water business in developing world markets. Masdar is an initiative of the Government of Abu Dhabi undertaken by the Abu Dhabi Future Energy Company ("ADFEC"), a private joint stock company established and wholly owned by Mubadala Development Company. Other investors in the Masdar CTF include Credit Suisse, one of the world's leading banks headquartered in Zurich, Switzerland, London-based Consensus Business Group's affiliated company, Cleantech International Limited, and Siemens Venture Capital, the venture arm of Siemens AG.

HaloSource's patented antimicrobial technologies focus on water purification and water clarification. The company currently operates in three water segments -- drinking water, storm/industrial water and recreational water. In the drinking water segment, HaloSource operates a subsidiary company in Bangalore, India and is currently setting up operations in China near Shanghai. "The markets for our HaloPure drinking water solutions are vast including most of Asia, Africa, and Latin America, and we are currently working with a number of partners in these regions that provide us with the necessary market access and distribution," said John Kaestle, president and CEO. "With the addition of Masdar to our investor base we now have improved access to markets in the Middle East and the financial resources to fully execute our drinking water expansion strategy and take the company to the next level."

Masdar is Abu Dhabi's multi-billion dollar, multi-faceted response to the need for a global focus on the development of advanced energies and sustainability-related technologies. It is designed to ensure, in the long-term, that Abu Dhabi retains, and even grows, its share of the global energy market. Masdar focuses on the development and commercialization of technologies in renewable energy, energy efficiency, carbon management and monetization, water usage and desalination.

"HaloSource has successfully commercialized technologies in existing water-related markets and needs additional capital to tackle the very large and growing market for drinking water purification technologies," said Jennifer Wick, Chief Investment Officer of Consensus Business Group. "We are excited to have found such an innovative company with game-changing technologies at this stage of expansion, and we look forward to working with, and supporting, the company's leadership in scaling the business."

HaloSource antimicrobial and clean technology solutions reliably and effectively provide clean water and control germs. HaloSource offers the most effective, tested and proven solutions in the product categories of clean water and infection control. HaloSource brands include HaloPure water purification products that kill disease-causing bacteria and viruses and remove impurities for safe, pure drinking water, HaloShield textile and surface coating solutions that harness the antimicrobial power of chlorine, SeaKlear water treatments to maintain clean and clear water in pools and spas, and StormKlear natural erosion and sediment control for treating and decontaminating storm and waste water.

The Abu Dhabi Future Energy Company (ADFEC) is Abu Dhabi's vision and investment in the future of energy and environmental sustainability -- a private joint stock company established and wholly owned by Mubadala Development Company. ADFEC drives the Masdar Initiative, a multi-billion dollar, multi-faceted response to the need for a global focus on the development of advanced energies and sustainability-related technologies.

The Consensus Business Group provides advisory services on numerous assets, investments and business opportunities to the trustees of a family trust which is its ultimate beneficial owner.

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