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Xeros Technology Group plc (AIM: XSG, 'the Group', 'Xeros'), the licensor of proprietary solutions improving the sustainability and economics of garments and fabrics, today publishes its interim results for the six months ended 30 June 2021.

Highlights

• Licensees and partners have reached major milestones despite further Covid interruptions.
• Multiple testing and trial agreements with leading domestic washing machine manufacturers for XFiltra^TM technology now underway.

• Licensing progress of XTend^TM (XOrb^TM/XDrum^TM) technology platform:
  • SeaLion and IFB entered Commercial Laundry markets in China and India respectively. Additional geographies being targeted.
  • Progress in Denim Finishing market with pipeline of opportunities in South Asia. Significant interest from major global brands.
  • IFB currently determining their 2022 product release plans, including the timing for the launch of their Xeros enabled domestic washing machine into the Indian market, with Q2 being our latest view.

 

• Multiple agreements signed for XFiltra technology platform which addresses microfibre pollution from washing machines:
  • Girbau agreement signed for commercial version with launch expected in 2021.
  • Following completion of product design of domestic version, agreements signed with washing machine manufacturers and a leading component supplier to the industry for testing and trials ahead of commercial negotiations.
  • British Antarctic Survey selected Xeros' XFiltra technology for its operations in Antarctica.
  • UK has proposed legislation on mandatory "in-machine" domestic and commercial washing machine filtration by 1^st January 2025

 

 

Mark Nichols, Chief Executive of Xeros, said:

"The apparel industry is today recognised, alongside fossil fuels, as one of the most damaging to our planet, consuming vast amounts of natural resources and creating harmful pollution. Our ability to radically improve the environmental and economic performance of this supply chain brings immediate solutions against the growing urgency for short term action.

 "Whilst Covid has continued to take its toll on all our licensees' operations, they have managed to reach significant milestones with a number of market launches taking place from which we can expect license income growth. With this market proof and acceptance in place, we expect to expand our geographic coverage over the coming year.

"As a result of our licensees' progress, many significant enterprises in the clothing value chain including well-known brands are now becoming increasingly aware of the viability of our technologies, adding to our belief that they can and should become widely deployed.

¹ Adjusted EBITDA is defined as loss on ordinary activities before interest, tax, share-based payment expense, exceptional costs, depreciation, and amortisation

Enquiries 

Xeros Technology Group plc	Tel: 0114 321 6328
Mark Nichols, Chief Executive Officer Paul Denney, Chief Financial Officer
finnCap Limited(Nominated Adviser and Broker)	Tel: 020 7220 0570
Julian Blunt/Teddy Whiley, Corporate Finance Andrew Burdis/Sunila de Silva, ECM

Notes to Editors

With close to 40 patent families, Xeros' revolutionary platform technologies, XTend™ and XFiltra™, set new standards for performance and sustainability across our clothing's lifecycle. By reducing the consumption of valuable natural resources and preventing microfibre and microplastic pollution, Xeros greatly reduces the impact of our clothes on the planet.

Backed by science, we set new standards for significantly reduced water consumption, lower carbon and effluent emissions, and improved garment care/life at the manufacturing stage and throughout laundry processes, in industry, and in the home. Xeros' technologies deliver a unique combination of unbeatable sustainability outcomes, improving performance whilst reducing costs. 

The manufacture of clothes and their subsequent care consumes vast amounts of our finite, valuable resources. Xeros licenses new technologies to enable us all to consume less, helping to protect the world for our future. 

For more information, please visit -  http://www.xerostech.com/