FOR RELEASE 6 AM EASTERN TIME TUESDAY, DECEMBER 27, 2011
Contact: Yolanda Taylor
LI KA-SHING’S HORIZONS VENTURES
TAKES SIGNIFICANT STAKE IN HzO
Salt Lake City, Utah—December 27, 2011—HzO, Inc., a leading technology company with proprietary advanced materials that protect electronics from water, humidity, and other liquids, announced today that Horizons Ventures, Ltd., a Hong Kong investment firm that manages the private investments in the technology sector for Mr. Li Ka-shing, purchased a $3 million stake in HzO as part of a preferred equity investment.
“We are grateful for the interest Horizons and Mr. Li have taken in HzO,” said Paul Clayson, the company’s President and Chief Executive. “This investment again demonstrates the global potential of our technology to protect electronics assemblies in multiple markets from damage resulting from water and other liquids. The investment also affiliates HzO with one of the most notable and successful global investors in technology and a world-class business operator.”
With the investment Horizons, becomes a shareholder in HzO with other preferred equity investors, including ZAGG (NASDAQ: ZAGG), the publicly traded maker of the invisibleSHIELD® and other accessories for mobile devices. ZAGG originally acquired HzO in 2009 then spun off HzO as a private independent company to improve and commercialize its WaterBlock™ technology.
“Horizons Ventures believes HzO’s technology expands the world of mobile connectivity as it meets global consumers’ new expectations for mobile devices,” said Jason Wong, CFO of Horizons Ventures, who will serve in Horizon’s seat on the HzO board of directors.
HzO’s proprietary WaterBlock™ is cutting-edge technology that protects valuable electronics from water, humidity, and other liquids. Powerful and invisible, WaterBlock™ protects on the molecular scale. HzO is commercializing WaterBlock in consumer electronics, military, solar energy, first responder devices, marine, industrial and other markets. Consumer devices operating with HzO technology can be viewed in this PC World article and this YouTube video.
ABOUT HORIZONS VENTURES, LTD
Horizons Ventures is a Hong-Kong based investment company that manages the private investments of Mr. Li Ka-shing that are focused on early-stage companies in the field of telecommunications, media and technology.