Dais Analytic Corporation Announces Successful Completion of Equity Financing
ACCESS Newswire
Dais Receives $2.75 Million in Equity to Continue Growth of Business; Enters into Arrangement to Generate Additional Sales in China
TAMPA, FL / ACCESSWIRE / March 16, 2015 / Dais Analytic Corporation (DLYT), a commercial nanotechnology materials and process company selling its technology in the worldwide energy and water markets, announced the successful receipt of $2.75 million for 18,000,000 shares of its common stock, giving the innovative technology company the ability to further the commercialization of its products. Two Hong Kong-based investors provided the funds raised in this private placement.
Dais plans to use the proceeds for marketing and continued development of two key applications ConsERV(TM) Energy Recovery Ventilator (lowers costs and emissions for HVAC systems by better managing the moisture and temperature content of ventilation air), and NanoClear(TM) (a process which separates clean water from most forms of contaminated waste water streams).
The completed private placement - combined with funds from a recent grant awarded to Dais by the U.S. Army Small Business Innovation Research (SBIR) program focusing on NanoClear(TM) - will accelerate the Company's plans to bring the first NanoClear product to market in 2015.
As part of the Securities Purchase Agreement (executed before the end of 2014), the new investors created a subsidiary, Dais (Beijing) New Energy Technology Co., Ltd. having $3M in registered capital. The Parties, per the Securities Purchase Agreement, are actively working to execute a $60 million contract for HVAC system sales over a three-year period, and on execution Dais will exchange 20.3 million of its common shares for 51% of Dais (Beijing) creating a revenue stream and ownership in this subsidiary in China. Dais (Beijing) will strengthen Dais's presence in the growing Chinese marketplace, as well as function as the launchpad for other nearby Asian market opportunities, in the clean air and water industries.
"The Chinese market has a winning combination of a hunger for innovation and the will to implement those innovative technologies," said Tim Tangredi, CEO of Dais. "This expansion will allow the proven Aqualyte(TM) technology to more rapidly gain a place in the Chinese engineer's tool box of technologies combatting environmental degradation. We are truly delighted with this growth opportunity."
Fuying Yu, Managing Director of Sage Technology Investment Company added "We are excited about the wider plans bringing the proven features of the Aqualyte(TM) membrane technology and engineered applications to the Chinese marketplace to address critical environmental issues we are facing." Yu continued "The functionality of these material based applications allow immediate and long lasting relief to areas of our environment that are sorely in need of solutions - conventional thinking and products can not correct these ills," he continued.
About Dais Analytic Corporation
Dais Analytic Corporation (DLYT) is commercializing its innovative Aqualyte(TM) family of nano-structured materials and processes focusing on evolutionary or disruptive air, energy and water applications. The uses include:
- ConsERV(TM), a commercially available engineered energy recovery ventilator (an HVAC product) useful for efficient management of ventilation air's temperature and moisture content using the energy found in the outgoing 'stale' air stream to pre-condition the incoming fresh air often saving energy, CO(2), and allowing for equipment downsizing;
- NanoClear(TM), an mid beta-stage method for treating contaminated water (sea, waste, industrial) providing 1,000 times cleaner potable water;
- NanoAir(TM), an early beta-stage water-based, no fluorocarbon producing refrigerant cooling cycle useful to replace the existing gas based compression cooling cycle in most all forms of air-conditioning and refrigeration saving a projected 50% in energy and CO(2);
- NanoCAP(TM), which holds promise to use the Aqualyte(TM) family to form a disruptive non-chemical energy-storage device when completed for use in renewable energy, transportation, and 'smart grid' configurations.
Each use demonstrates the diversity of Dais' core product - Aqualyte(TM) - the family of nano-structured polymers and engineered processes having a focus on minimizing consumption of irreplaceable natural resources, and ending the degradation of our environment. To find out more about Dais please visit www.daisanalytic.com, and to learn more about ConsERV(TM) please visit www.conserv.com.
Safe Harbor Statement
This press release includes statements that may constitute forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," and similar statements. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. For example, statements about the future sales volume are forward looking and subject to risks. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, risks outlined in the Company's filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
