Green
China approves HaloSource water-purification technology
By Seattle Business Magazine May 10, 2011
The Chinese Ministry of Health has approved the HaloPure drinking water purification technology designed by Bothell-based HaloSource for use in China. HaloPure becomes the first water purification technology to receive approval under a series of new standards in China.
HaloSource has created a series of water filtration devices that rely on gravity but do nor require electricity or plumbing to operate. The products kill deadly bacteria and viruses in parts of the developing world where access to water filtration is limited.
The Chinese branch of the company will now begin to supply partners with cartridges, components and complete devices across the country. Research group Frost & Sullivan estimates the water purification market in China to be worth $2.5 billion annually.
HaloSource has operated a facility in Shanghai since 2009, creating local distribution relationships and developing its technologies for international export. In a news release, CEO John Kaestle said, HaloSource can now start to benefit from the enormous market opportunity to assist in providing safe, affordable, drinking water at the point of use to hundreds of millions of Chinese consumers.
The company went public in the United Kingdom last year and raised $80 million at the IPO. In 2010, revenues rose to $14.1 million, and the company reported a net loss of $11.5 million.