REG - Xeros Tech Grp plc - Second Denim Finishing Licensing Agreement

Xeros TechnologyAnnouncement

17/05/2023 07:17

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RNS Number : 6463Z  Xeros Technology Group plc  17 May 2023

17 May 2023

This announcement contains inside information

Xeros Technology Group plc

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

Second Denim Finishing Licensing Agreement

Xeros Technology Group plc (AIM: XSG), the creator of technologies that reduce
the impact of clothing on the planet, is pleased to announce the signing of a
technology license and distribution agreement for its Garment Finishing
technology with KRM Tekstil Boya San. Tic Ltd ("KRM")(the "Agreement").

Under the terms of the 10-year, worldwide non-exclusive Agreement, KRM, which
will act as a global distributor for Yilmak Makine ("Yilmak"), is licensed to
distribute and sell machines manufactured by Yilmak incorporating Xeros'
proprietary XDrum(TM) and XOrb(TM) technology for use in denim processing,
garment finishing and garment dyeing processes across Yilmak's full range of
garment finishing machines.

Yilmak, headquartered in Istanbul, Turkey, was established in 1968 and is one
of the largest manufacturers of garment finishing machines in the world. It
exports to more than 35 countries globally and supplies machines to over 500
factories.

The Agreement allows Xeros to significantly increase its market access into
new territories including Europe, Brazil and Mexico as well as strengthen its
current access into Asia. The Agreement has the potential to deliver
substantial revenues over the 10-year term. The textile machinery market is
estimated to be worth $52 billion by 2033.(1)

Approximately 2 billion pairs of jeans are manufactured globally every year
and Xeros' technology significantly reduces the volume of water, chemistry and
cycle time used in the finishing processing of raw denim jeans into consumer
products.

Under the terms of the Agreement, Xeros will receive a royalty per XDrum(TM)
machine sold by KRM as well as supplying it with XOrbs.

Neil Austin, CEO of Xeros, said:

"The apparel industry is estimated to consume over 93 billion cubic metres of
water every year in the production of clothing.(2) In an industry under
increasing pressure from both consumers and legislators to reduce its impact
on the planet, technologies like ours can make a significant impact. We are
very pleased to have signed a further contract with like-minded partners that
enables us to continue bringing our technologies into the global market."

Enquiries:

 

 Xeros Technology Group plc                       Tel: 0114 321 6328

 Neil Austin, Chief Executive Officer

 Alex Tristram, Director of Finance

 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/Annabelle Wills/Jazmine Clemens

Notes to Editors

POWERED BY SCIENCE, XEROS CREATE TECHNOLOGIES ENGINEERED FOR THE FUTURE

Born out of textile research and advancing new standards of performance and
responsibility, Xeros' technologies revolutionise the way we make and clean
our clothes, conserving water and preventing waste. Designed to impact
industries and people on a global scale, Xeros transforms the performance,
impact and economics of the fashion and washing machine industry.

Xeros enables the scaling of its innovations and impact by licencing its
intellectual property to partners across the globe. Their work has, to date,
created 38 patent families.

Xeros' technologies are already in use in major global industries, including
commercial and home laundry and garment manufacture. So far, these
technologies have saved millions of litres of water and could prevent billions
of microfibres from ending in our oceans.

TO THE POWER OF CHANGE

xerostech.com

Sources:

1.     Global News Wire

2.     UN. Facts and Figures, Fashion

 

 

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