REG - Xeros Tech Grp plc - IFB Domestic Machine Launch Update

Xeros TechnologyAnnouncement

08/06/2022 07:00

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RNS Number : 0650O  Xeros Technology Group plc  08 June 2022

This announcement contains inside information

 

8 June 2022

 

Xeros Technology Group plc

 

('Xeros' or the 'Company' or the 'Group')

 

IFB Domestic Machine Launch Update

 

Xeros Technology Group plc (AIM: XSG), the licensor of proprietary solutions
improving the sustainability and economics of the world's clothing and
fabrics, today provides an update on the forthcoming domestic market launch in
India, by IFB Industries Limited ('IFB') of the world's first Xeros enabled
domestic washing machine.

 

Since the end of regional Covid restrictions in India in late Q1, Xeros and
IFB teams in Sheffield and Goa have been finalising machine designs and
programming bespoke XOrb wash cycles, which improve performance with less
water and energy. With these tasks complete, following an initial limited
manufacturing run, IFB will soon be moving a number of machines into consumer
homes for user testing and launch planning at the end of June 2022. From
mid-June 2022 a Xeros team will be in Goa to assist with the initiation of
these trials ahead of the full market launch of two sizes of IFB washing
machine which is now planned for Q4 2022. This represents a slight delay from
the previous guidance of a Q3 launch.

 

Factory testing by both IFB and Xeros has confirmed the significant
environmental benefits of Xeros' technology, delivering water savings of up to
50% and, importantly for consumers, clear fabric care benefits are already
evident after just a few washes.

 

IFB has re-affirmed its commitment to the launch of their Xeros enabled
domestic washing machine in 2022 and is actively working with the Company to
achieve this goal.

Xeros also confirms that it will release its final results for the year ended
31 December 2021 on Wednesday, 22 June 2022.

 

Klaas de Boer, Chairman of Xeros, said:

 

"We are delighted with the progress made by IFB ahead of the launch later this
year of the world's first domestic machine incorporating Xeros' technology. We
expect the fabric care benefits, and the water savings delivered by IFB's
washing machines will prove to be a strong proposition in the Indian market,
especially given the record-breaking heatwaves and climate stress being
experienced in the country.   We look forward to supporting IFB though their
user trials and market launch."

 

Enquiries:

 

 Xeros Technology Group plc                       Tel: 0114 321 6328

 Klaas de Boer, Chairman

 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

 Yellow Jersey PR                                 Tel: 020 3004 9512

 Sarah Hollins/Lilian Filips/Laurie Gellhorn

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/
(http://www.xerostech.com/)

 

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