INDUSTRY NEWS

Vystar Acquires Fluid Energy Conversion Technology Assets, Enlarges Reach into New Vertical Markets

Published Date | 2019 June 14

Vystar aims to use the Fluid Energy Conversion’s technology to enhance pathogen killing efficiency of its RxAir air purifiers while also reducing its cost & size which will drive the global air purifier market

Global: Vystar Corporation, the creator of Vytex deproteinized natural rubber latex and developer of environmentally friendly technologies and products, has signed an agreement to procure a well-known global green energy firm, Fluid Energy Conversion, Inc. (FEC). Vystar will acquire 100% of assets of Fluid Energy Conversion Inc., primarily consisting of its patent on the Hughes Reactor, for $100,000 in restricted common stock. Fluid Energy Conversion has multiple R&D initiatives relating to environmentally friendly product development and distribution that has the potential to revolutionize multiple industries and substantially improve the RxAir air purification systems. The company anticipates testing of the prototype in the current quarter for Adapting Fluid Energy Conversion technology to enhance the effectiveness of the RxAir purification system to destroy airborne pathogens while decreasing the cost and size of Vystar’s RxAir units.  The use of this patented technology is expected to be a major differentiator of RxAir from the competition and is anticipated to be virtually impossible to emulate due to the patented IP. Additionally, it plans to apply the technology to vape pens to improve substance delivery and control dosage.

According to BlueWeave Consulting, with expanding vehicle fleet, the air pollution levels across the globe have been increasing at a robust pace, which is exposing people to the high risk of contracting respiratory and other cardiovascular diseases. As deteriorating air quality increasingly becomes a major concern to health. Technologies that can filter multiple pollutants and are intelligent and cost-effective will gain traction across end-user segments. According to the World Health Organization (WHO), an estimated 12.6 million people die from environmental health risks annually. Air pollution has become the fourth-highest risk factor for premature deaths. Rising health consciousness, a growing number of tobacco smokers are shifting the air purifier industry from being a luxury product to an everyday necessity. Furthermore, industrialization and urbanization have exaggerated environmental health risks and pollution, especially in emerging countries.

Air pollution becoming a health hazard, there is slight that citizens can do to immediately address the problem and this is where the air purifier comes into play. In recent years, the air purifier market has witnessed a hike in demand fuelled by degrading air quality and increasing concern towards health issues. Moreover, an increase in awareness about the adverse effects of pollution on health is encouraging various electronics companies to develop advanced air purifiers.  Heightened awareness of the importance of indoor air quality and growing concerns on the impact of impure air quality on the general well-being of people have raised demand for air purifiers in the last few years. On the back of rising expenses on health and wellness products, along with growing awareness concerning hazardous effects of air pollution on the general health of people India air purifier market is projected to move in the upward direction.

According to the published report by BlueWeave Consulting on “Global Air Purifier Market by Technology type (HEPA Technology (High Efficiency Particulate Air), Activated Carbon Technology, UV Technology, Negative Ion and Others), by Product type (Portable Air Purifiers,Whole-House Air Purifiers and Cleaners, Electrostatic Precipitators, Smart airpurifier and others), Distribution Channel (Online distribution channel andOffline distribution), End Use (Residential, Commercial andIndustrial)–Industry Analysis, Size, Share, Growth, Trends, and Forecast,2014-2024,” The Global Air Purifier Market is expected to grow with a CAGR over 32.4% during the forecast period, 2018-2024 in terms of value. Air pollution is the emission of toxic elements into the atmosphere by natural or anthropogenic sources. The World Health Organization (WHO) estimates 2.4 million fatalities due to air pollution every year. As intake of polluted air can have severe health effects such as asthma, COPD, or increased cardiovascular risks, most countries have strengthened laws to control the air quality and mainly focus on emissions from automobiles. These sources can be further differentiated into either mobile or stationary sources. Anthropogenic air pollution is often summarized as being mainly related to motorize street traffic (especially exhaust gases and tire abrasion). Air quality in vehicle cabins is usually found to be worse than those typically found in homes or workplaces.

According to the recently published report by BlueWeave Consulting on “India Air Purifier Market by Technology type(HEPA Technology (High Efficiency Particulate Air), Activated CarbonTechnology, UV Technology, Negative Ion and Others), by Product type (PortableAir Purifiers, Whole-House Air Purifiers and Cleaners, ElectrostaticPrecipitators, Smart air purifier and others), Distribution Channel (Onlinedistribution channel and Offline distribution), by End Use (Residential,Commercial and Industrial), by Region (North, South, East, and West)–IndustryAnalysis, Size, Share, Growth, Trends, and Forecast, 2014-2024,” India Air Purifier Market is projected to grow with a CAGR over 48% during the forecast period, 2018-2024 in terms of value. India Air purifier industry is developing at a high pace owing to deteriorating air quality, increasing air pollution, rising respiratory diseases coupled with growing consumer awareness. Despite the various technological developments, air purifiers have been perceived as a luxury item due to the high installation and maintenance cost. However, the competition in the air purifier market is rising, which is bringing down the prices, and with the growing disposable income, air purifiers are gradually being perceived as a utility product, specifically in the residential sector. Additionally, tourism and healthcare and other institutional places such as embassies, hospitals, corporate office, government buildings, schools, and colleges, etc., are the major demand generators for air purifiers in the country.