Nephros and Donastar Announce Strategic Partnership
01 Marzo 2023 - 3:30PM
via NewMediaWire -- Nephros, Inc. (Nasdaq: NEPH), a leading water
technology company providing filtration solutions to the medical
and commercial markets, today announced a new partnership engaging
Donastar Enterprises LLC as the exclusive master distributor for
Nephros commercial filters in the food & beverage and
hospitality markets. Pursuant to this agreement, Donastar has
committed to leveraging Nephros as its principal supplier of
commercial water filters.
“Since early 2022, when our two companies
entered an alliance with Tractor Beverage to supply commercial
water filters to a national and widely recognized Quick Service
Restaurant (QSR) chain, our partnership has become increasingly
close and fruitful,” said Steve Donaghy, Partner at Donastar. “We
see this formalized arrangement as a first step in a long, mutually
beneficial journey and look forward to the many opportunities
ahead.”
“Nephros is perennially focused on providing a
comprehensive collection of water filtration solutions in support
of improving water quality. Our work with Donastar allows us to
capitalize on our commercial capabilities, and has already yielded
significant customer momentum and growth potential,” said Andy
Astor, President and Chief Executive Officer. “We are excited to
continue working closely with Donastar to provide our joint
customers with high-performance products at competitive
pricing.”
Mr. Astor continued, “The timing of this
milestone aligns perfectly with the relaunch of our commercial
water filter product lineup. Over the past year, we have worked
diligently to revamp and streamline our roster to include a
selection of the highest-quality products, each with rigorously
verified specifications. We believe the combination of our relaunch
and this new partnership agreement places Nephros in a strong
position for future success in the commercial space.”
About NephrosNephros is committed to
improving the human relationship with water through leading,
accessible technology. We provide innovative water filtration
products and services, along with water-quality education, as part
of an integrated approach to water safety. Nephros goods serve the
needs of customers within the healthcare and commercial markets,
offering both proactive and emergency solutions for water
management.
For more information about Nephros, please visit
nephros.com.
About Donastar Enterprises LLCDonastar is
a primary provider of foodservice and beverage equipment service as
well as water filtration systems. With over 500 service partners
and thousands of trained technicians, we support operators all
throughout the United States to help them provide the ideal
product. We service restaurants, convenience stores, movie
theaters, grocery stores, government facilities, schools &
universities, entertainment venues, long term care facilities,
residential properties, hotels & casinos and more.
For more information, please visit
donastar.com.
Forward-Looking StatementsThis release
contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995 and are provided
under the protection of the safe harbor for forward-looking
statements provided by such law. These forward-looking statements
are subject to various risks and uncertainties. Such statements
include statements regarding Nephros’ expectations concerning the
future success of its distribution arrangement with Donastar and
its commercial water filtration business generally, future revenue
from Nephros’ commercial filtration business and its ability to
obtain additional contracts to supply QSR chains and other national
end customers, and other statements that are not historical facts,
including statements that may be accompanied by the words
“intends,” “may,” “will,” “plans,” “expects,” “anticipates,”
“projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,”
“potential” or similar words. Actual results could differ
materially from those described in these forward-looking statements
due to certain factors, including changes in business, economic and
competitive conditions, Nephros’ ability to obtain market
acceptance of its products, the availability of capital when
needed, dependence on third-party manufacturers and researchers,
regulatory reforms. These and other risks and uncertainties are
detailed in Nephros’ most recent Annual Report on Form 10-K and
such other reports filed with the U.S. Securities and Exchange
Commission. Nephros does not undertake any responsibility to update
the forward-looking statements in this release to reflect
subsequent events or circumstances.
Investor Relations Contacts:Kirin Smith,
President PCG Advisory, Inc. (646) 823-8656
ksmith@pcgadvisory.com
Andy Astor, CEO Nephros, Inc. (201) 343-5202 x120
andy.astor@nephros.com
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