Uponor Invests Additional $10 Million In Phyn; Establishes 50 Percent Ownership In Joint Venture

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February 13, 2018
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style="Margin:0;color:#0a0a0a;font-family:Montserrat,Arial,sans-serif;font-size:16px;font-weight:400;line-height:1.3;margin:0;padding:0!important;text-align:left;visibility:hidden;width:0"></th></tr></table></th>  </tr></tbody></table><table class="row sub-header"style="background:#00837E;border-collapse:collapse;border-spacing:0;display:table;padding:0;position:relative;text-align:left;vertical-align:top;width:100%"><tbody><tr  style="padding:0;text-align:left;vertical-align:top"><th class="small-12 large-12 columns first last" style="Margin:0 auto;color:#0a0a0a;font-family:Montserrat,Arial,sans-serif;font-size:16px;font-weight:400;line-height:1.3;margin:0 auto;padding:0;padding-bottom:16px;padding-left:30px;padding-right:30px;text-align:left;width:570px"><table style="border-collapse:collapse;border-spacing:0;padding:0;text-align:left;vertical-align:top;width:100%"><tr style="padding:0;text-align:left;vertical-align:top"><th style="Margin:0;color:#0a0a0a;font-family:Montserrat,Arial,sans-serif;font-size:16px;font-weight:400;line-height:1.3;margin:0;padding:0;text-align:left"><table class="spacer" style="border-collapse:collapse;border-spacing:0;padding:0;text-align:left;vertical-align:top;width:100%"><tbody><tr style="padding:0;text-align:left;vertical-align:top"><td height="16px" style="-moz-hyphens:auto;-webkit-hyphens:auto;Margin:0;border-collapse:collapse!important;color:#0a0a0a;font-family:Montserrat,Arial,sans-serif;font-size:16px;font-weight:400;hyphens:auto;line-height:16px;margin:0;mso-line-height-rule:exactly;padding:0;text-align:left;vertical-align:top;word-wrap:break-word">&#xA0;</td></tr></tbody></table>  <h4 class="text-center" style="-moz-hyphens:none;-webkit-hyphens:none;Margin:0;Margin-bottom:10px;color:#fff;font-family:Montserrat,Arial,sans-serif;font-size:18px;font-weight:400;hyphens:none;line-height:22px;margin:0;margin-bottom:10px;padding:0;text-align:center;text-transform:uppercase;word-break:none;word-wrap:normal">News From Uponor</h4><h5 class="text-center" style="-moz-hyphens:none;-webkit-hyphens:none;Margin:0;Margin-bottom:10px;color:#fff;font-family:Montserrat,Arial,sans-serif;font-size:14px;font-weight:500;hyphens:none;line-height:18px;margin:0;margin-bottom:0;padding:0;text-align:center;word-break:none;word-wrap:normal">Transmitted by PR Newswire for Journalists on <span class="prevent-break" style="display:inline-block">February 13, 2018 02:50 PM EST </span></h5></th><th class="expander" style="Margin:0;color:#0a0a0a;font-family:Montserrat,Arial,sans-serif;font-size:16px;font-weight:400;line-height:1.3;margin:0;padding:0!important;text-align:left;visibility:hidden;width:0"></th></tr></table></th></tr></tbody></table><table class="row header" style="background:#e5f2f3;border-collapse:collapse;border-spacing:0;display:table;padding:0;position:relative;text-align:left;vertical-align:top;width:100%"><tbody><tr style="padding:0;text-align:left;vertical-align:top"><th class="small-12 large-12 columns first last" style="Margin:0 auto;color:#0a0a0a;font-family:Montserrat,Arial,sans-serif;font-size:16px;font-weight:400;line-height:1.3;margin:0 auto;padding:0;padding-bottom:0;padding-left:30px;padding-right:30px;text-align:left;width:570px"><table style="border-collapse:collapse;border-spacing:0;padding:0;text-align:left;vertical-align:top;width:100%"><tr style="padding:0;text-align:left;vertical-align:top"><th style="Margin:0;color:#0a0a0a;font-family:Montserrat,Arial,sans-serif;font-size:16px;font-weight:400;line-height:1.3;margin:0;padding:0;text-align:left">                <table class="spacer" style="border-collapse:collapse;border-spacing:0;padding:0;text-align:left;vertical-align:top;width:100%"><tbody><tr style="padding:0;text-align:left;vertical-align:top"><td height="24px" style="-moz-hyphens:auto;-webkit-hyphens:auto;Margin:0;border-collapse:collapse!important;color:#0a0a0a;font-family:Montserrat,Arial,sans-serif;font-size:24px;font-weight:400;hyphens:auto;line-height:24px;margin:0;mso-line-height-rule:exactly;padding:0;text-align:left;vertical-align:top;word-wrap:break-word">&#xA0;</td></tr></tbody></table>               <h1 style="Margin:0;Margin-bottom:10px;color:#4D4E53;font-family:Montserrat,Arial,sans-serif;font-size:20px;font-weight:500;line-height:28px;margin:0;margin-bottom:0;padding:0;text-align:left;word-wrap:normal">Uponor Invests Additional $10 Million In Phyn; Establishes 50 Percent Ownership In Joint Venture</h1> <table class="spacer" style="border-collapse:collapse;border-spacing:0;padding:0;text-align:left;vertical-align:top;width:100%"><tbody><tr style="padding:0;text-align:left;vertical-align:top"><td height="24px" style="-moz-hyphens:auto;-webkit-hyphens:auto;Margin:0;border-collapse:collapse!important;color:#0a0a0a;font-family:Montserrat,Arial,sans-serif;font-size:24px;font-weight:400;hyphens:auto;line-height:24px;margin:0;mso-line-height-rule:exactly;padding:0;text-align:left;vertical-align:top;word-wrap:break-word">&#xA0;</td></tr></tbody></table> </th><th class="expander" style="Margin:0;color:#0a0a0a;font-family:Montserrat,Arial,sans-serif;font-size:16px;font-weight:400;line-height:1.3;margin:0;padding:0!important;text-align:left;visibility:hidden;width:0"></th></tr></table></th>              </tr></tbody></table> <table class="row content" style="background:#fff;border-collapse:collapse;border-spacing:0;display:table;padding:0;position:relative;text-align:left;vertical-align:top;width:100%"><tbody><tr style="padding:0;text-align:left;vertical-align:top"><th class="small-12 large-12 columns first last" style="Margin:0 auto;color:#0a0a0a;font-family:Montserrat,Arial,sans-serif;font-size:16px;font-weight:400;line-height:1.3;margin:0 auto;padding:0;padding-bottom:16px;padding-left:30px;padding-right:30px;text-align:left;width:570px"><table style="border-collapse:collapse;border-spacing:0;padding:0;text-align:left;vertical-align:top;width:100%"><tr style="padding:0;text-align:left;vertical-align:top"><th style="Margin:0;color:#0a0a0a;font-family:Montserrat,Arial,sans-serif;font-size:16px;font-weight:400;line-height:1.3;margin:0;padding:0;text-align:left"> <table class="spacer" style="border-collapse:collapse;border-spacing:0;padding:0;text-align:left;vertical-align:top;width:100%"><tbody><tr style="padding:0;text-align:left;vertical-align:top"><td height="24px" style="-moz-hyphens:auto;-webkit-hyphens:auto;Margin:0;border-collapse:collapse!important;color:#0a0a0a;font-family:Montserrat,Arial,sans-serif;font-size:24px;font-weight:400;hyphens:auto;line-height:24px;margin:0;mso-line-height-rule:exactly;padding:0;text-align:left;vertical-align:top;word-wrap:break-word">&#xA0;</td></tr></tbody></table><p class="sub-headline" style="Margin:0;Margin-bottom:10px;color:#4D4E53;font-family:Montserrat,Arial,sans-serif;font-size:14px;font-weight:500;line-height:20px;margin:0;margin-bottom:16px;padding:0;text-align:left"><strong>Funds signify company's commitment to the partnership and further advancing the plumbing industry through intelligent water solutions</strong><p><span class="xn-location">APPLE VALLEY, Minn.</span>, <span class="xn-chron">Feb. 13, 2018</span> /PRNewswire/ --&nbsp;Uponor Corporation (<a href="http://email.prnewswire.com/wf/click?upn=TwIh0OIjG8BOSB67uKqqjxuZfZxHoXECGMZr8auUTQM-3D_q1N77mbql2CxsoEfo2fFiZ6dnlev64IGUSa1KT1DDw1MuprZmQ6aap9NY9k0Le75Mp3OXnEu8kFAeJqtfSxS68FWZHreeMMEx8onFXEv3Q6ElRBo2kpUXxhNmpI8yQJUKYPSXVUeEmfjFuhlnZwA-2B4OKXOwvKfVM0mgO1o1mHrdStQvecyvdXrXmiKcE01Jcsna-2B4hdAsWf9KoX1C7BaN3pSV-2Fasho-2F2xzBAQE5p6n-2FQ9HBTbEd3O7l97X1HGKDq8KWuK4GX83hr88DgieEjtPKQFxebYBniZND2O84x8CC0KrgVFBiHK7A56fyQzCb3K7ggwPXLpate4L-2BA0NPtsQ-3D-3D" rel="nofollow" target="_blank">Uponor</a>) today announced that it will invest an additional USD <span class="xn-money">$10 million</span> in <a href="http://email.prnewswire.com/wf/click?upn=TwIh0OIjG8BOSB67uKqqj3dVdGIEDF3yuZfNXw0lgYI-3D_q1N77mbql2CxsoEfo2fFiZ6dnlev64IGUSa1KT1DDw1MuprZmQ6aap9NY9k0Le75Mp3OXnEu8kFAeJqtfSxS68FWZHreeMMEx8onFXEv3Q6ElRBo2kpUXxhNmpI8yQJUKYPSXVUeEmfjFuhlnZwA-2B4OKXOwvKfVM0mgO1o1mHrdStQvecyvdXrXmiKcE01JckbVg1gQ-2FsMc8YiELd1-2FgHkMpeRQcFyE2Y-2BqnPf18t8BfOo2HxQIS1QY-2F04sTJg2wh8E4fIsTfrky-2F59yndlwPknE61UYkq6vgUgHRv6h0QTovpr8ZZoltr1Z-2FtETyD-2FoQEcfqob8D7VZEs11I9APpg-3D-3D" rel="nofollow" target="_blank">Phyn</a>, a joint venture between Uponor and <a href="http://email.prnewswire.com/wf/click?upn=TwIh0OIjG8BOSB67uKqqjwa56qpiUQx8bKw4Y2Po-2Fzs-3D_q1N77mbql2CxsoEfo2fFiZ6dnlev64IGUSa1KT1DDw1MuprZmQ6aap9NY9k0Le75Mp3OXnEu8kFAeJqtfSxS68FWZHreeMMEx8onFXEv3Q6ElRBo2kpUXxhNmpI8yQJUKYPSXVUeEmfjFuhlnZwA-2B4OKXOwvKfVM0mgO1o1mHrdStQvecyvdXrXmiKcE01JctmfcQMC0l4I-2BR-2BXoPsZjcr-2BYp5VlbQz8zR1XhJvvlgucIlm4h9SARl3if3hOOxOuPDIrfyyKqJyvQYmvy1S8zuyNO2oFHi2QaVytmAqF3-2BKmrME7drjN3Rwti-2FFB6-2FgnpG5gn7eyDdlLM8Hc03TOFA-3D-3D" rel="nofollow" target="_blank">Belkin International</a>, bringing its total investment in the company to USD <span class="xn-money">$25 million</span>. With this second round of funding, Uponor establishes a 50 percent ownership in Phyn, with the other 50 percent owned by Belkin International. </p> 
   <p>Phyn will use the funding to further accelerate market penetration and scale the company's operations as it prepares for commercialization in late spring of its debut product Phyn Plus, smart water assistant + shutoff. As a joint-venture company, Phyn will be consolidated into Uponor's financial accounts using the equity method.</p><th class="expander" style="Margin:0;color:#0a0a0a;font-family:Montserrat,Arial,sans-serif;font-size:16px;font-weight:400;line-height:1.3;margin:0;padding:0!important;text-align:left;visibility:hidden;width:0"></th></tr></table></th></tr></tbody></table><table class="row content" style="background:#fff;border-collapse:collapse;border-spacing:0;display:table;padding:0;position:relative;text-align:left;vertical-align:top;width:100%"><tbody><tr style="padding:0;text-align:left;vertical-align:top"><th class="small-12 large-12 columns first last" style="Margin:0 auto;color:#0a0a0a;font-family:Montserrat,Arial,sans-serif;font-size:16px;font-weight:400;line-height:1.3;margin:0 auto;padding:0;padding-bottom:16px;padding-left:30px;padding-right:30px;text-align:left;width:570px"><table style="border-collapse:collapse;border-spacing:0;padding:0;text-align:left;vertical-align:top;width:100%"><tr style="padding:0;text-align:left;vertical-align:top"><th style="Margin:0;color:#0a0a0a;font-family:Montserrat,Arial,sans-serif;font-size:16px;font-weight:400;line-height:1.3;margin:0;padding:0;text-align:left"><center data-parsed="" style="min-width:510px;width:100%"><img src="https://mma.prnewswire.com/media/641615/Uponor_PhynPlus_plumbing.jpg" alt="" align="center" class="float-center" style="-ms-interpolation-mode:bicubic;Margin:0 auto;clear:both;display:block;float:none;margin:0 auto;max-width:100%;outline:0;text-align:center;text-decoration:none;width:auto"></center></th><th class="expander" style="Margin:0;color:#0a0a0a;font-family:Montserrat,Arial,sans-serif;font-size:16px;font-weight:400;line-height:1.3;margin:0;padding:0!important;text-align:left;visibility:hidden;width:0"></th></tr></table></th></tr></tbody></table><table class="row content" style="background:#fff;border-collapse:collapse;border-spacing:0;display:table;padding:0;position:relative;text-align:left;vertical-align:top;width:100%"><tbody><tr style="padding:0;text-align:left;vertical-align:top"><th class="small-12 large-12 columns first last" style="Margin:0 auto;color:#0a0a0a;font-family:Montserrat,Arial,sans-serif;font-size:16px;font-weight:400;line-height:1.3;margin:0 auto;padding:0;padding-bottom:16px;padding-left:30px;padding-right:30px;text-align:left;width:570px"><table style="border-collapse:collapse;border-spacing:0;padding:0;text-align:left;vertical-align:top;width:100%"><tr style="padding:0;text-align:left;vertical-align:top"><th style="Margin:0;color:#0a0a0a;font-family:Montserrat,Arial,sans-serif;font-size:16px;font-weight:400;line-height:1.3;margin:0;padding:0;text-align:left">
   <p>"Uponor is proud of the innovative work that Phyn is doing, and we see tremendous potential in the solutions that Phyn is bringing to market," added Jyri Luomakoski, president and CEO, Uponor Corporation. "Our additional investment represents our commitment to the shared vision for the future of intelligent water systems."</p>
   <p>"This funding from Uponor further cements Phyn's position as the leading solution in the smart water space," said <span class="xn-person">Ryan Kim</span>, CEO of Phyn. "It comes at a pivotal time for our company and allows us to grow our world-class team further as we continue to dedicate our efforts to solving some of the toughest challenges facing water, so that we not only protect our homes, but also become better stewards of water, our most precious natural resource." </p>
   <p>Phyn Plus is an intelligent water monitor that attaches to the main water line of homes. Through a combination of high-definition pressure sensing and machine learning, Phyn Plus detects leaks and plumbing issues and can automatically shut off the main water supply when needed to prevent costly damage. Phyn Plus will be available for purchase in the U.S., starting late spring, for USD <span class="xn-money">$850</span> exclusively through the <a href="http://email.prnewswire.com/wf/click?upn=TwIh0OIjG8BOSB67uKqqj98omnOEsbaamA1zw6R96bJBc1grt-2F44hEZC2K93-2FTf0_q1N77mbql2CxsoEfo2fFiZ6dnlev64IGUSa1KT1DDw1MuprZmQ6aap9NY9k0Le75Mp3OXnEu8kFAeJqtfSxS68FWZHreeMMEx8onFXEv3Q6ElRBo2kpUXxhNmpI8yQJUKYPSXVUeEmfjFuhlnZwA-2B4OKXOwvKfVM0mgO1o1mHrdStQvecyvdXrXmiKcE01Jc1l4zWifP8pU4DJsNo1oHOuUx5EpVYKhYCVw7Lplctb8sevWMqYZOMsFlNO15OpY8t9PCgOZ5-2F9D-2FcYi2dAFcRDQInIvwMNeu-2FVNU6b2azdoTsfn0LKJ3gpyaGH1YBBJ0KOfRgL1yTnwcsTuXtqg3zw-3D-3D" rel="nofollow" target="_blank">Uponor Pro Squad,</a> a nationwide network of expertly trained plumbers and water specialists. </p>
   <p>"Our objective with the joint venture has always been to help progress our business and the plumbing industry into the digital era with better ways to use water more intelligently," said <span class="xn-person">Bill Gray</span>, president, Uponor North America. "That focus remains the same today, with this additional investment simply underlining both our belief in this partnership and our commitment to being innovation leaders in this space for many years to come."</p>
   <p><b>For the special press page, which includes an image for download, please visit: <a href="http://email.prnewswire.com/wf/click?upn=sC-2B1U9y9L9vO42omvXzZSak2lE15jS8mh32dKu4Kfj4QrGYtlou8605Yr-2FBX-2BX27Y4m4BYhJZ-2B6rNOkBDOYoBUBx6B4w1rbyqFj-2BBLIs51A-3D_q1N77mbql2CxsoEfo2fFiZ6dnlev64IGUSa1KT1DDw1MuprZmQ6aap9NY9k0Le75Mp3OXnEu8kFAeJqtfSxS68FWZHreeMMEx8onFXEv3Q6ElRBo2kpUXxhNmpI8yQJUKYPSXVUeEmfjFuhlnZwA-2B4OKXOwvKfVM0mgO1o1mHrdStQvecyvdXrXmiKcE01JcV6qIcurwfURKNJOhqriXvt4Y2l4fPQ5pB4vxZhqhTxVotgrUvNiRIahi0sOHQFNkyzZjfRSvDat03wekDlfMQRlb7WluGHuJmZ-2Fn0Rxb77szF1dxInnEA-2BK3WLIxfgQsMbZapOj3sXB93GtKymeaKg-3D-3D" rel="nofollow" target="_blank">http://uponor.media-resources-ordp.com/2018/trade-10m-investment.shtml</a> </b></p>
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   <p><b>Uponor, Inc. </b>is focused on progressing its business, the plumbing trade and construction industry through education, advocacy and innovation. It is an award-winning provider of plumbing, fire safety, radiant heating/cooling, hydronic piping and pre-insulated piping systems for residential and commercial applications. North American operations are based in <span class="xn-location">Apple Valley, Minn.</span>, with global headquarters located in <span class="xn-location">Finland</span>. The company employs more than 3,900 worldwide. <a href="http://email.prnewswire.com/wf/click?upn=7VDqtAz2AW-2FeY7XnbvsasYkcMiRxQ7wXWkXEqxi6FM9o9tRrzCgzbGe7-2FJT1GY7e_q1N77mbql2CxsoEfo2fFiZ6dnlev64IGUSa1KT1DDw1MuprZmQ6aap9NY9k0Le75Mp3OXnEu8kFAeJqtfSxS68FWZHreeMMEx8onFXEv3Q6ElRBo2kpUXxhNmpI8yQJUKYPSXVUeEmfjFuhlnZwA-2B4OKXOwvKfVM0mgO1o1mHrdStQvecyvdXrXmiKcE01Jcb3oVf06v5PUZJgL2rsIVW81NeyLsd6UIqVFrlp198vHaKYh3vcLYPeW7h7EI7Gg3YBQczwSs0-2F8bc7Woz7f-2BMNLg8mu47No7Kg6HjRhjhlxTv8Wd6nYaa3KIsiH18ec-2BZ1a3UvLACMdyB7BevrjUHA-3D-3D" rel="nofollow" target="_blank">uponorpro.com</a></p>
   <p><b>Phyn </b>is bringing intelligent water solutions to market that help people protect their homes, conserve water and save money. Built upon nearly a decade of research and patented technological innovation, Phyn is poised to change the way consumers interact with water and help solve the major challenges threatening the world's supply of clean, healthy water. Phyn is backed by Belkin International, a global leader in consumer technology, networking and the Internet of Things, and Uponor. Phyn is headquartered in <span class="xn-location">Torrance, Calif.</span>, with a research and development lab in <span class="xn-location">Seattle</span>. <a href="http://email.prnewswire.com/wf/click?upn=TwIh0OIjG8BOSB67uKqqj3dVdGIEDF3yuZfNXw0lgYI-3D_q1N77mbql2CxsoEfo2fFiZ6dnlev64IGUSa1KT1DDw1MuprZmQ6aap9NY9k0Le75Mp3OXnEu8kFAeJqtfSxS68FWZHreeMMEx8onFXEv3Q6ElRBo2kpUXxhNmpI8yQJUKYPSXVUeEmfjFuhlnZwA-2B4OKXOwvKfVM0mgO1o1mHrdStQvecyvdXrXmiKcE01Jc4c7b-2FDGd8vwIfHs4UAZCjgolEQPYxqNNYYUJWAAVIeP0T1L-2BsDvP6i1iLRZLCORdFi5hCM7-2F-2BlVxTDR4oK-2B5-2BiLQkooEyQohhiaVHLgUdvyCWjLZCtEDqz1ptW6jrYgl9LIsEY09Sm59oVcFKVdweg-3D-3D" rel="nofollow" target="_blank">phyn.com</a></p>
   <p>© 2018 Uponor, Inc.; Uponor is a trademark of Uponor Corporation and Uponor, Inc.</p>
   <p>&nbsp;</p> 
   
   <p>SOURCE Uponor</p>CONTACT: Media contact, Patti Winger, Sr. Manager, Corporate Communications, T  800.321.4739, ext. 6775, M  651.341.8991, E  patti.winger@uponor.com or Agency, John O'Reilly, O'Reilly DePalma, T  815.469.9100, E  john.oreilly@BetterPR.com<p style="Margin:0;Margin-bottom:10px;color:#4D4E53;font-family:Montserrat,Arial,sans-serif;font-size:14px;font-weight:400;line-height:28px;margin:0;margin-bottom:16px;padding:0;text-align:left">Web Site: <a href='http://email.prnewswire.com/wf/click?upn=7VDqtAz2AW-2FeY7XnbvsasYkcMiRxQ7wXWkXEqxi6FM8-3D_q1N77mbql2CxsoEfo2fFiZ6dnlev64IGUSa1KT1DDw1MuprZmQ6aap9NY9k0Le75Mp3OXnEu8kFAeJqtfSxS68FWZHreeMMEx8onFXEv3Q6ElRBo2kpUXxhNmpI8yQJUKYPSXVUeEmfjFuhlnZwA-2B4OKXOwvKfVM0mgO1o1mHrdStQvecyvdXrXmiKcE01JckA5QisFA5JVwNn7oWTn7lP-2F7MIPRfIrlOWRlVfwEGq-2BjoIIdOUP-2FbJARK1wlom5f8zW7taD10EX39yQwTtDMOY3xBgX0lMbTSv2nmprIDdNed5iQyIbiTDI0cNL0c1qqSJmoHXXwYWEPStqAxaTcjQ-3D-3D' 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