Product Launches

RNS Number : 1920Q

Strix Group PLC

26 October 2021

 

26 October 2021

Strix Group Plc

("Strix", the "Group" or the "Company")

Product Launches

Strix Group Plc (AIM: KETL), the global leader in the design, manufacture and supply of kettle safety controls and other complementary water temperature management components, is pleased to announce the launches of Aurora and Dual Flo as key extensions of Strix small domestic appliances category. Aurora is currently being launched under Strix own brands as well as global and local brand partners. Dual Flo will be launched internationally from October through global and local brand partners.

The product launches are in line with the new product development programme that Strix set out at its Capital Markets Day and support the key sustainability KPIs set out in our recently published 2021 ESG Report. The timing will coincide with t he 2021 United Nations Climate Change Conference to be held in Glasgow in November, also known as COP26.

Aurora

The Aurora water station is a kettle, chiller and water jug, all-in-one appliance. Instant hot, unique "true boil" or cold water with precise volume delivery avoids wasted energy in boiling/chilling excess water. Aurora is part of a continued expansion of the Company's Aqua Optima portfolio, focused on delivering budget-friendly water filtration solutions that are powered by best-in-class Strix technology.

Following a successful trial launch in the UK, the product was launched on Amazon in the summer and is expected to go live on Amazon EU (Germany, Spain, France) in November. Aurora is scheduled to be listed by a leading UK retailer during November and launched internationally in the coming months.

Dual Flo

Dual Flo combines the utility of a standard kettle with the one cup capability of a Hot Cup machine and is an innovative twist on kettle technology providing the market with another unique kettle innovation. Significantly, Dual Flo allows the consumer to benefit from convenience, speed and sustainability through water and energy reduction.

Dual Flo is launching in multiple locations globally. The product is expected to launch in trade in October in Canada, followed by launches early in the new year in Switzerland and Russia.  Strix will also be launching an alternative variant under the LAICA brand which is expected to launch in Q1 2022.

The launch of the Aurora and Dual Flo products will set the foundations for the hot water on demand category intended to cement Strix's position as the go-to technology partner for Instant Flow Heater technology.

Sustainability

Strix is an environmentally conscious organisation, which minimises the impact of its operations on the environment. During 2020, Strix reassessed its approach to sustainability with a view of integrating a sustainability strategy within the core business activities to align with the UN's Sustainable Development Goals.

Strix's mission within the appliance category is to develop products that allow consumers to live a safer, more convenient, sustainable life at home, leveraging the Group's technology and reputation for quality and safety in kettle technology into other markets to develop a range of innovative products within this category. Both product launches meet Strix's sustainability criteria of developing products that reduce the impact on the environment, reduce energy consumption and provide benefits to customers.

The Dual Flo appliance will address an estimated £300 million wasted on boiling excess water in the UK alone. T he new Aurora Instant Flow encourages sustainable thinking in our end consumers, addressing the biggest energy wastage of over-filling kettles by delivering the exact quantity of hot water required at the precise temperature required. Meanwhile the Aurora Evolve+ filtration systems and chilling promote the use of refillable portable bottles helping to reduce the waste from single use bottles whilst the filters are recyclable through our partnership with TerraCycle.

Mark Bartlett, Chief Executive Officer of Strix Group plc, said: "We are delighted to be launching Aurora and Dual Flo just ahead of COP26 and the Group will continue to focus its highly skilled engineering resource towards enhancing our core technologies and innovating into new commercial markets in a sustainable manner . Management's commitment is to drive our business towards Net Zero by 2023 and to develop solutions for sustainable living through our product offering. New product development remains a fundamental driver in the Group's core business strategy and t hese launches take us even further down the path towards achieving those key objectives, as well as to deliver our medium-term targets to double the Group's revenues over a five year period ."

For further enquiries, please contact:
Strix Group Plc Mark Bartlett, CEO Raudres Wong, CFO	[phone]
Zeus Capital Limited (Nominated Advisor and Joint Broker) Nick Cowles / Jamie Peel / Jordan Warburton (Corporate Finance)	[phone]
Stifel Nicolaus Europe Limited (Joint Broker) Matthew Blawat / Francis North	[phone]
IFC Advisory Limited (Financial PR and IR) Graham Herring / Tim Metcalfe / Florence Chandler	[phone]

ABOUT STRIX GROUP PLC

Isle of Man based Strix, is a global leader in the design, manufacture and supply of kettle safety controls and other components and devices involving water heating and temperature control, steam management and water filtration.

Strix's core product range comprises a variety of safety controls for small domestic appliances, primarily kettles. Kettle safety controls require precision engineering and intricate knowledge of material properties in order to repeatedly function correctly. Strix has built up market leading capability and know-how in this field since being founded in 1982.

Strix trades on the AIM Market of the London Stock Exchange (AIM: KETL).

 

END

 

 

PRLUVONRASURUAA