First license agreement for XFiltra Technology

RNS Number : 9137C

Xeros Technology Group plc

24 June 2021

 

Xeros Technology Group plc

First license agreement for XFiltra Technology

Xeros Technology Group plc (AIM: XSG, 'the Group', 'Xeros'), the developer and licensor of platform technologies which transform the sustainability and economics of clothing and fabrics during their lifetime, has signed a contract with Girbau S.A. ('Girbau'), one of the world's largest manufacturers of commercial laundry equipment, to license its filtration technology, XFiltra™, for use in commercial laundries. This contract follows on from the Joint Development agreement signed with Girbau in March 2020.

The 10-year contract grants Girbau rights to manufacture and sell a new range of filters incorporating XFiltra technology within the commercial laundry market. These rights are exclusive in a number of major territories including Europe and North America with non-exclusive rights granted for certain other territories. Royalties are payable at a fixed amount for each device sold with minimum sales levels also included within the terms of the agreement. First sales are planned in 2021.

Girbau's XFiltra product, developed in partnership with Xeros, captures more than 90% of all microfibres released during laundry cycles and can be incorporated within, or attached to, individual commercial washing machines. Alternatively, they can be configured to filter the effluent for entire laundry facilities.

Mark Nichols , Chief Executive of Xeros, said: "This is major step by Xeros and Girbau, one of the world's most respected commercial laundry equipment manufacturers, towards helping the world wear better ™ and reduce environmental harm.

"Commercial and domestic laundry processes generate hundreds of thousands of tonnes of microfibre pollution every year, with microfibres now found everywhere on our planet and within the entire trophic range. Our announcement today signals the start of a significant step to cut this form of pollution.

"Girbau have been an exemplary development partner for us, sharing our passion for environmental improvement across the fabric and garment value chain. Their engineering and product development teams have worked tirelessly, and creatively, to package our technology into a highly effective, easy to use, robust filter which enables commercial laundries to reduce their impact on our planet."

"Moving from development stage to commercial agreement with Girbau in roughly 15 months is a fantastic achievement and evidences, we believe, the strength of the IP within XFiltra and we plan to begin trials of our domestic version with major appliance manufacturers later this year."

Enquiries : 

Xeros Technology Group plc Mark Nichols, Chief Executive Officer Paul Denney, Chief Financial Officer	Tel: [phone]
finnCap Limited (Nominated Advisor & Broker) Julian Blunt / Teddy Whiley, Corporate Finance Andrew Burdis / Sunila de Silva, ECM	Tel: [phone]

Notes to Editors

Xeros Technology Group plc has developed and licenses two platform technologies which transform sustainability, performance and economics in the manufacturing and laundering of garments and fabrics.

XTend™ is the tradename for the Company's technology platform which uses XOrbs™ in conjunction with XDrums™ to significantly reduce the amount of water and chemistry used in the dyeing, finishing or laundering of garments and fabrics. XOrbs increase the efficiency of these processes which require molecules to be either affixed or removed from substrates. In the case of laundry, they are proven to significantly increase the life of clothes and fabrics. The results being major improvements in economic, operational, product and environmental outcomes.

XDrum is Xeros' low-cost machine design which enables XOrbs to be introduced into and subsequently removed from process cycles. The design provides Original Equipment Manufacturers with the ability to make simple changes to their products to incorporate the Company's XOrb technology.

The Group has signed multiple license agreements for its  XTend platform technology with leading OEMs in major commercial and domestic markets.

XFiltra™ is the Company's proprietary washing machine filtration technology which prevents harmful microfibres including microplastics, generated during washing cycles, from being released into the world's rivers and oceans.  Microfibres released into the environment from clothing and fabrics during their laundering, being a major source of pollution in the environment and contamination in the food chain.

The Company has signed a license agreement with a major laundry equipment Company for the deployment of XFiltra in commercial laundries and has plans to also license its design into the domestic laundry market.

About Girbau S.A.

Founded in 1960, Girbau, a family owned company, is a world leader in comprehensive professional laundry solutions for the industrial, commercial and vended sectors, recognised for its high degree of innovation, quality and sustainability.

Headquartered in Vic (Barcelona), Girbau has 6 production sites in Spain, France and China, and a sales network with direct implementations in 16 countries and distributors that covers over 100 markets. The company's firm commitment to innovation beyond the laundry sector makes Girbau a benchmark in its sector, with initiatives like Girbau Lab and cutting-edge solutions like Mobile Laundry and Girbau Sapphire, for remote laundry management.

Proximity, care for the environment and a focus on innovation make Girbau, its customers and its employees the perfect team, committed to providing the best solutions now and in the future for the textile treatment.  

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN ARTICLE 7 OF THE MARKET ABUSE REGULATION NO. 596/2014 ("MAR").

 

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