Who is Purifloh negotiating FRG licensing deals with?
At the time of the PO3 AGM on November 30, 2018, many of us were intrigued when Detroit-based Executive Director Steve Annear mentioned five names during a telephone hookup.
As posted, those five names were (alpha):
. Electrolux
. Honeywell
. LG
. Samsung
. Whirlpool
While Steve Annear confirmed that PO3 was conferring with two prospective OEM partners, he noted the group couldn’t/wouldn’t identify them because it was bound by NDA/non-disclosure agreements.
A few on these threads firmed on two names, Honeywell and Whirlpool.
If we’re right, Steve Annear could be in trouble for saying too much.
But consider this. There’s an especially worthy name that didn’t pass the lips of Steve Annear at the AGM. That name is 3M.
Why would $MMM be an eligible OEM partner? It:
. Has a plant in Detroit - not far from PO3's Novi facility
. Is a Dow component on the NYSE with a market cap of $115b
. Claims its Filcrete brand is the “most trusted” in the American air purification market
. Runs a water purification business
. Owns a health division that sells sterilization product/services to the medical industry
Based in St Paul, Minnesota, 3M has 92000 employees, some 80 factories in 29 states, a further 125 factories in 37 countries outside the US and an annual turnover of $33b. Clearly, it's a very big global player.
Like Purifloh and its Somnio Global partner, 3M is science-focussed and innovative. It’s now insisting that all products meet a new sustainability ethos.
In a special announcement, Chairman/CEO, Inge G Thulin says: “In partnership with our customers, 3M uses science every day to improve lives and help solve society’s toughest challenges – from clean air and clean water to advanced health care and food safety.
“We recognize the unique and inspiring opportunity we have to grow our enterprise while making the world stronger, safer and healthier.”
Thulin’s approach and his upfront mention of air, water and health would resonate with Steve Annear.
So would 3Ms website announcement that it’s looking for partners.
The group says it would prefer its partners to have:
. Management team with a track record of success
. Products and technology with a strong intellectual property position
. Well-articulated, scalable business model
. Strong customer engagement, linked to an impactful market opportunity in 2-5 years
Would Purifloh qualify? Yes.
But there’s another reason I think Purifloh is talking to - or will talk - to 3M. And that relates to Steve Annear’s LinkedIn site.
Steve Annear “follows” 3M. But there’s more. Annear has chosen to instal 3M’s distinctive red logo on his site...and a link to 3m.com.
PO3 Price at posting:
$4.00 Sentiment: Hold Disclosure: Held
(20min delay)
