Vystar Acquires Fluid Energy Conversion Technology Assets, Enlarges Reach into New Vertical Markets
- Published | 14 June 2019
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.
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