By: Kelsey Miller, Business Development Manager
BOTHELL, WA – Tom Ranken and I had the opportunity to visit the Bothell headquarters of HaloSource on December 2 to learn more about what lies ahead for the water technology company.
HaloSource focuses on innovation in the chemistry of water purification, designing solutions that protect people, preserve the planet and celebrate our most valuable resource: water.
That wasn’t always the case and when Martin Coles became CEO of HaloSource the company was struggling to determine the right strategic direction by which to take its innovative and protected technology to market.
Coles quickly recognized that the real value of the company lay in the IP it had created in its innovative approach to “taking the bad stuff” out of water. Today, HaloSource produces cartridges filled with thousands of tiny beads that harness the killing power of bromine (Br) to effectively remove 99.99 percent plus of harmful contaminants from water in a variety of applications. The cartridges themselves are produced for a number of global partners who then take this class leading technology to market through their devices, channels and brands.
“In late 2011 we had to ask ourselves what were we really good at,” said Coles, “and the answer was abundantly clear, we were and are the innovators in the chemistry of water purification.”
With the company’s technology focus on three key sectors; drinking water purification, environmental water treatment and remediation, and recreational water solutions the key to success in market entry are the relationships HaloSource has built with market leading partners such as Jarden Consumer Solutions, Perfect (China) Co., Ltd’s and Eureka Forbes.
“We are the razor blade inside razor,” said Coles. In other words, HaloSource is bringing their highly effective and patented technologies to market through partners that provide established marketing and channel access with legacy brands and a proven track record in the markets they serve.
Coles states that while the global water markets for the three key sectors are worth billions with Drinking water purification at $16 billion, Recreational water solutions at $3 billion and Environmental water treatment and remediation at $23 billion the company has begun to achieve major success and growth by keeping its scope of work relatively narrow by focusing on Innovation.
While the business opportunity in water purification is huge, HaloSource’s drinking water segment through it’s HaloPure® technology in China, Southeast Asia and most recently South and Central America is driving significant growth for the company. Coles underscored that India will continue to develop as a major market for clean drinking water as awareness on health impacts of contaminated water continue to increase. HaloPure media effectively kills the harmful bacteria and viruses that are detrimental to human health.
HaloSource offers a $40 device in India that will purify 1,500 liters of water on one cartridge that is enough clean water for a family of five for six months. In India, where 93 percent of the population is boiling water or doing simple straining, a HaloSource water purifier can make a major difference in someone’s life.
In addition to drinking water, HaloSource has a nascent division that develops greener chemistry solutions for industrial applications in construction, mining and stormwater management. The company's portfolio of HaloKlear® products has met the rigorous standards of many state and local regulatory bodies such as the Washington Department of Ecology.
A testament to their commitment to creating a sustainably profitable and socially responsibly company, HaloSource is a founding member of the Social Stock Exchange in London.
The Social Stock Exchange seeks to bridge the gap between the increasing desire of businesses to make a difference alongside making a profit, and those investors who share this vision and have the means to enable it to be fulfilled.
Coles believes that this is the key to the future of business and the future of impact investing. “It is not good enough to focus only on financial success, we are driven by a deep sense of responsibility to make a tangible difference in the lives of others and the communities in which they live, a real example of doing good, while doing well.