REG - Xeros Tech Grp plc - XFilter Joint Development Agreement

Xeros TechnologyAnnouncement

27/09/2022 07:01

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RNS Number : 7010A  Xeros Technology Group plc  27 September 2022

 

 

 

This announcement contains inside information

27 September 2022

 

Xeros Technology Group plc

 

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

 

 XFilter Joint Development 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 joint
development agreement ('JDA' or 'Agreement') with a global domestic washing
machine component manufacturer for its microfibre filtration technology
XFilter.  The supplier is headquartered in Europe with production facilities
worldwide.

The JDA sets out a programme of product development for the manufacture of
XFilter devices and an agreement of multi-year licensing terms. Work under the
Agreement will commence immediately, shortly followed by commercial
discussions, with an expectation to agree on terms in the next six months.
Solutions to meet French legislation requiring the fitting of microfibre
filters in all domestic washing machines by 1 January 2025 are expected to
drive revenue growth for Xeros in 2024. Similar legislation is also under
discussion in Europe, the UK and California.

The Agreement is further endorsement of XFilter's market-leading status
following earlier announcements from Xeros. These include independent test
results from Hohenstein verifying XFilter's superior performance capability,
alongside the commercial licensing agreement signed with Hanning Elektro-Werke
Gmbh & Co.KG in June 2022.

In addition, Xeros continues to work with the Asian washing machine OEM and is
in early stages of discussions on commercial licensing terms.

Neil Austin, Chief Executive Officer of Xeros, said:

 

"We are delighted to sign this joint development agreement with a global
domestic washing machine component manufacturer for our XFilter technology.

 

"Xeros has seen a significant increase in interest in XFilter since the
announcement of the Hanning licensing agreement and the development agreement
with a second European component supplier helps build the pipeline for
XFilter.

 

"We are committed to bringing solutions to market that protect our planet for
the future and working with partners that share those values and see the
superior performance and capabilities XFilter offers their customers."

 

Enquiries:

 

 Xeros Technology Group plc                       Tel: 0114 321 6328

 Neil Austin, 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

 

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 transform the performance,
impact and economics of the fashion and washing machine industry.

 

Xeros enable the scaling of their innovations and impact by licencing their
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 (http://www.xerostech.com)

 

 

 

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