HaloSource Raises $11.5 M for Drinking Water Business

HaloSource, a 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, according to a July 18 press release.

The financing has been raised from new investors Origo Sino-India PLC and Origo Resource Partners Limited 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.

HaloSource has established partnership arrangements with Chanitex, a leading Chinese water treatment company and, in Brazil, with Everest, a consumer water device manufacturer.

John Kaestle, president and chief executive officer said: "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 percent a year."

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