REG - Xeros Tech Grp plc - Second Global Domestic XFilter Licensing Agreement

Xeros TechnologyAnnouncement

09/03/2023 07:00

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RNS Number : 3614S  Xeros Technology Group plc  09 March 2023

This announcement contains inside information

 
9 March 2023

Xeros Technology Group plc

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

Second Global Domestic XFilter 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
further licensing agreement for its XFilter filtration technology with a
global component manufacturer, ('the partner' or 'manufacturer').

The partner, headquartered in Europe with manufacturing facilities across the
globe, is a world-leading supplier of components, with over 300 million
household appliances of all types incorporating parts made by this
manufacturer currently deployed around the world. The partner supplies
electro-mechanical components for the world's largest domestic washing machine
manufacturers including, but not limited to, Haier, Whirlpool, Midea, Miele
and Bosch.

Under the terms of the 5-year, non-exclusive agreement, the partner is
licensed to manufacture and sell filters incorporating Xeros' proprietary
XFilter technology on a worldwide basis. This will enable washing machine
manufacturers to provide consumers with the ability to capture, and easily and
safely dispose of over 90% of microfibres, including microplastics, released
during laundry cycles. The filters are built into the washing machine and are
designed to last the life of a machine. In 2021, 27.4 million automatic
domestic washing machines were sold across Europe and 104 million were sold
worldwide.(1)

This agreement significantly increases Xeros' market access and has the
potential to deliver substantial revenue over the terms of the license. Under
the terms of the agreement Xeros will receive a royalty per filter device sold
by the partner.

Legislation in France requiring the fitting of microfibre filters in all
domestic washing machines will come into effect on 1 January 2025. Similar
legislation is in development in the UK, California, and the EU.

Neil Austin, Chief Executive Officer of Xeros, said:

"This partnership further demonstrates the belief in the market-leading
capabilities of our XFilter technology, and together with the existing Hanning
agreement, allows us to reach and supply all of the major OEM's with
filtration technology.

"We look forward to working with our partners to bring XFilter to 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

(1) Source: Euromonitor

 

 

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