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

Xeros TechnologyAnnouncement

20/03/2023 07:00

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RNS Number : 4236T  Xeros Technology Group plc  20 March 2023

This announcement contains inside information

 
20 March 2023

Xeros Technology Group plc

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

Third Global Domestic XFilter Licensing Agreement

Xeros Technology Group plc (AIM: XSG), the creator of technologies that reduce
the impact of clothing on the planet, today announces the signing of a third
licensing agreement for its XFilter filtration technology with another global
component manufacturer, ('the Partner' or 'Manufacturer').

Following the announcements of signed agreements with Hanning in June 2022,
and a second supplier announced earlier this month, this third agreement
further increases Xeros' market access, with the potential to deliver
substantial revenues over the term of the license. Under the terms of the
10-year, non-exclusive agreement, the Partner is licensed to manufacture and
sell filters incorporating Xeros' proprietary XFilter technology on a global
basis. As with the first two agreements Xeros will receive a royalty per
filter device sold by the Partner.

The Manufacturer, headquartered in Northern Europe with production facilities
across the US, Asia, and Europe, is a significant supplier of home appliance
components alongside waste management solutions with annual turnover of
c.€180m. The Partner supplies components for the world's largest domestic
washing machine manufacturers, with a high proportion of its customers,
including Haier, Midea, LG, Panasonic, Samsung and Whirlpool, operating across
the US and Asia markets.

The XFilter filtration technology enables 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.

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:

"We are very pleased to announce another licensing agreement in such quick
succession.

"The fact that three of Europe's leading component suppliers have chosen to
partner with Xeros clearly demonstrates that Xeros' XFilter technology is
widely regarded and believed in by multiple manufacturers."

"We look forward to updating the market in due course and to working alongside
our new partners."

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

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