SEATTLE, Sep 25, 2008 (BUSINESS WIRE) -- HaloSource, the clean water and antimicrobial technology company, has today opened an office and manufacturing facility in Shanghai, China, to continue the commercialization and development of its HaloPure drinking water purification business. HaloSource Water Purification Technology will be headed by Dr. Joseph Chen, General Manager of HaloSource China, who relocated from HaloSource's Seattle operations in 2007.
The opening ceremony was attended by local Shanghai dignitaries, senior HaloSource staff from its US and China operations, and by contractors and customer representatives. The ceremony included an introductory speech and ribbon cutting by HaloSource President and Chief Executive, John Kaestle and was followed by a traditional Chinese reception including a lion dance and fireworks.
The opening follows the company's recent fund raising of $11.5m which included investments from Origo Sino-India PLC (OSI.L) and Origo Resource Partners Limited (ORP.L). The financing will further support the company's development in China where HaloSource has established partnership arrangements with Chanitex, a leading Chinese water treatment company.
John Kaestle, President and Chief Executive Officer of HaloSource, said, "We are delighted to open our Shanghai facility to further develop and support HaloPure's international operations. We greatly appreciate the work of Dr. Chen and his team here in Shanghai and are confident that this new operation will play an important role in the development of our business in China. It's a significant step for us in a market which has great potential."
About HaloSource:
HaloSource(R) is a leading, clean water and antimicrobial technology company headquartered in the US with operations in India and China. The company provides proprietary solutions to clean and purify water, killing bacteria and viruses that may cause disease. Revenues are derived from HaloPure, which provides safer drinking water; HaloShield which forms the active ingredient that imparts antimicrobial properties to household cleaning products such as dishcloths; and SeaKlear and StormKlear products which provide water clarification and antimicrobial applications for treating recreational and industrial waste water. HaloSource(R) is founded on a strong and rapidly expanding IP portfolio around two core technologies:
-- N-halamine technology, which harnesses the power of chlorine and bromine, for its drinking water and anti-microbial businesses
-- Chitosan chemistry, which causes particles in water to bind together so that they can be filtered off, for its swimming pools and industrial waste water businesses
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 inChinaandIndia.
-- 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. InChina, Origo works closely with China Equity, aleading private equity firm, whose chief executive is a member of Origo'sboard. InIndia, Origo has enteredinto a memorandum of understanding withSBI Capital Markets, one of the longest established companies in the IndianCapital Markets. A former chairman of the State Bank ofIndiais also amember of the board of Origo.
-- Origo has a significant portfolio of investments in a range ofindustrial sectors, including mobile applications and content; naturalresources; art and paper products; furniture; food and beverage; onlinegaming; anti-virus software; and bio energy.
SOURCE: HaloSource
HaloSource
Andrew Clews, VP, Marketing & Business Development
425-974-1991
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