ODESSA — Pasco technology firm Dais Analytic announced a new joint venture in China that guarantees at least $15 million in product sales by 2016.
Dais CEO Tim Tangredi said joint venture with SoEX Industry & Investments Co. of Hong Kong will expand production and distribution of the company's patented clean energy products. The two companies share a commitment to “focus on key areas of concern in China: clean air, energy efficiency, and cleaning contaminated water.”
Dais Analytic's primary product is ConsERV, which is designed to make traditional air conditioning systems more efficient by using its patented Aqualyte membrane to dehumidify air before it enters the system.
The joint venture will buy Aqualyte nanomaterial from Dais and shift some of the product development and manufacturing to China.
“We have the components, the people and the skills to build a large, strong company around the Dais technology yielding sustainable revenues while assisting the people of China in areas of concern,” SoEX President Sharon Han, said in a press release.
The joint venture will also develop select contaminated water cleaning projects based on Dais's pilot water cleaning system located in Pasco County.
Tangredi demonstrated the NanoClear system earlier this year to Pasco officials. NanoClear uses Dais' patented Aqualyte membrane to filter water on a molecular level — a process more efficient and cost-effective than reverse osmosis.
Dais chief operating officer John Herrin said the joint venture already has two requests for NanoClear projects in China. “The first one is a garment manufacturing facility, the other one is a steel factory,” he said. “They're both about four times the size of the pilot project in Odessa.”
The partnership is on track to generate $7 million in sales next year. The new distribution agreement guarantees that figure will more than double in the second year. SoEX also will pay royalties to Dais for all products it manufactures using the Aqualyte nanomaterial.