Aquaporin and Philips Water Solutions partner to deliver clean drinking water in China
Aquaporin A/S, Nymøllevej 78, DK-2800 Kongens Lyngby, aquaporin.com, Company registration no.: DK28315694
Company announcement
No. 12/2023
- Exclusive agreement for water purifiers with Aquaporin Inside® technology
- Estimated to be present in more than 140,000 households end 2022
Copenhagen, Denmark, January 9, 2023 –Aquaporin A/S (ticker: AQP) (“Aquaporin” or the “Company”), an innovative water technology company dedicated to rethinking water filtration with biotechnology, today announced that Aquaporin and AquaShield, the global brand partner ofhealth technology company Philips in water solutions segment, have entered a partnership to deliver clean drinking water to Chinese consumers with Philips-branded purifiers powered by Aquaporin Inside®– Aquaporin’s unique technology.
The partnership between Aquaporin and Philips Water Solutions is far-reaching in nature, bringing co-development, co-branding, market access, and double-digit revenue growth. The exclusive agreement has an initial focus on greater China where Aquaporin will be the exclusive provider of membrane technology in the majority of Philips Water Solutions’ extensive range of water purifiers.
“We are thrilled to embark on this journey with Philips Water Solutions, an important industry player in water purification, to deliver purified water to hundreds of thousands of homes across China. By combining our unique Aquaporin Inside®technology with co-branded Aquaporin and Philips Water Solutions purifiers we provide customers in China with a cutting-edge differentiated and innovative product”,says Matt Boczkowski, Chief Executive Officer at Aquaporin.
China makes up around half of the global market for point-of-use water purifiers where Philips Water Solutions is the market leader with a great number of purifiers sold annually.
Chief Executive Officer at AquaShield, Alex Rishoej, says: “Aquaporin delivers on both innovation, quality, and market differentiation with their technology. Gaining momentum on the Chinese market is a tough nut to crack, but with Aquaporin we see huge potential in their unique technology and how it is rooted in the way nature filters water”.
Philips Water Solutions and Aquaporin estimate that more than 140,000 households had a Philips Water Solutions purifier powered by Aquaporin Inside®at the end of 2022. This number is expected to largely increase by the end of 2023.
This partnership framework agreement does not change the previously announced financial guidance for the financial year ending December 31, 2022.
For further information, please contact:
Matt Boczkowski, Chief Executive Officer
+45 53 55 55 19, investorrelations@aquaporin.com
About Aquaporin A/S
Aquaporin is an innovative water technology company dedicated to natural water treatment with operations in Denmark (HQ), Singapore, Turkey, and the United States. Aquaporin works to preserve the Earth’s most valuable resource – water – by combining advanced bioengineering, open innovation, and natural aquaporins – nature's own water purifiers – which they embed into water purification membranes. Their proprietary technology, Aquaporin Inside®, is based on Nobel Prize-winning research and used to clean and reuse water in industries, in our homes, and even by NASA in space. Aquaporin works with customers and partners around the globe to sustainably treat industrial wastewater, concentrate food & beverage products, and enhance drinking water quality and accessibility.
About AquaShield
AquaShield Health Technology Company, a former Philips company, is the global exclusive brand licensee for Philips Water Solutions. AquaShield is focused on providing a complete water solution to consumers with their water purification, water heating, bathroom solutions and hydration bottles. AquaShield believes there is always a way to make life better and is committed to improve the health and well-being of people’s lives through meaningful innovation and responsible sustainability. AquaShield is active globally, with sales in more than 30 countries.
About Royal Philips
Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people's health and enabling better outcomes across the health continuum from healthy living and prevention, to diagnosis, treatment and home care. Philips generated 2019 sales of EUR 19.5 billion and employs approximately 81,000 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.
Forward-looking statements
Matters discussed in this report may constitute forward-looking statements. Forward-looking statements are statements that are not historical facts and that can be identified by words such as “believe”, “expect”, “anticipate”, “intend”, “estimate”, “will”, “may”, “continue”, “should”, and similar expressions, as well as other statements regarding future events or prospects. Specifically, this report includes information with respect to projections, estimates, and targets that also constitute forward-looking statements. The forward-looking statements in this report are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although the Company believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies, and other important factors which are difficult or impossible to predict and are beyond its control. Such risks, uncertainties, and other important factors include, among others: Limited experience in commercialization of the Company’s products, failure to successfully implement strategies, dependence on third parties for manufacturing certain product components and the supply of certain raw materials, the ongoing COVID-19 pandemic, manufacturing disruptions, strategic collaboration, protection of the Company’s intellectual property rights and other risks disclosed in Aquaporin’s annual reports and company announcements. Such risks, uncertainties, contingencies, and other important factors could cause actual events to differ materially from the expectations, projections, estimates, and targets expressed or implied in this report by such forward-looking statements. The information, opinions, and forward-looking statements contained in this report speak only as at its date and are subject to change without notice. Aquaporin expressly disclaims any obligation to update or revise any forward-looking statements, except as required by law.