Nephros and Donastar Announce Strategic Partnership
Donastar Becomes Exclusive Master Distributor of Nephros Commercial Water Filters
for Food & Beverage and Hospitality Markets
SOUTH ORANGE, NJ, March 01, 2023 (GLOBE NEWSWIRE) -- 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 Nephros
Nephros 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 LLC
Donastar 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 Statements
This 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
