First XDrum sales in Denim Finishing market

RNS Number : 3769G

Xeros Technology Group plc

25 November 2020

 

Xeros Technology Group plc 

Xeros licensee makes first XDrum sales in Denim Finishing market

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 , is pleased to announce that its Indian license partner, Ramsons Garment Finishing Equipment Ltd ('Ramsons'), has received an order for 9 denim finishing machines incorporating Xeros' technologies.

Manufacturing will start immediately with the first machines shipped later this year to ABA Group ('ABA'), a leading supplier of garments to internationally recognised brands including American Eagle, H&M and Zara. ABA have a production capacity of 45 million garments per annum with approximately 70% devoted to denim products.

The order represents the first sales of Xeros' innovative XDrum™ design which fully automates the use of the Group's proprietary XOrbs™ in garment finishing and laundry processes. The use of XOrbs in the denim finishing process eliminates the need for pumice stone and reduces water consumption by 75%. Manufacturing productivity and economics are also improved by allowing all finishing processes to be undertaken in a single machine in shorter cycle times. The XDrum-enabled machines are up to 5,000 litres in cubic capacity and can process approximately 300 pairs of jeans per cycle.

In line with the Board's expectations, Xeros will receive a mid to high single digit royalty for these machine sales as well as royalties for the ongoing use of XOrbs. This first order in denim finishing is an important milestone for both Xeros and Ramsons ahead of a full market launch in Q1 next year.

Mark Nichols, CEO Xeros commented: "The order from the ABA Group marks the first sale of Xeros' new XDrum machine design and represents a landmark in the execution of our strategy.

Our collaboration with Ramsons has created a new way for turning raw denim into finished garments, at a time when the industry is under intense pressure to reduce its environmental impact and costs. More than one billion pairs of jeans are sold every year, with each one exacting an environmental toll including high water consumption during manufacture and when washed by consumers. Microfibres from their laundering are also entering our rivers and oceans.

Our mission is to change this dramatically for the better for all the garments in our world. Today's announcement with Ramsons and ABA Group is an important step towards doing so."

Sunder Belani, CEO Ramsons commented:" Xeros' technologies were one of the principle reasons for ABA Group selecting Ramsons to equip their new denim finishing operation. ABA who operate to the highest environmental standards, are one of the largest apparel manufacturers in Bangladesh supplying global leaders in the fashion industry. We expect our partnership with Xeros to generate further orders in South Asia which is one of the world's largest centres of garment production."

ENDS

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

Notes to Editors

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

Xeros' patented XOrbs™ which are used in conjunction with the company's XDrum™technology significantly reduce the amount of water used in the dyeing, finishing or laundering of garments and fabrics. They enable the remaining water to become far more efficient and effective in either affixing or removing molecules, the result being improvements in economic, operational, product and sustainability outcomes. The Group is applying its technology in the fields of garment manufacturing, commercial and domestic laundry and tanning with its laundry applications increasing garment care and life.

Xeros' XDrum™technology is a patented, low cost machine drum design which enables XOrbs to be introduced into and subsequently removed from process cycles in Xeros' chosen fields. 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 XDrum and XOrb products with leading OEMs in major commercial and domestic markets.

XFiltra™is a proprietary in-machine filtration technology which prevents harmful microfibres including microplastics, generated during washing cycles, from being released into the world's river and oceans.  Microplastics released from synthetic clothing during laundering is one of the largest sources of primary microplastic pollution entering our oceans every year.

For more information, please visit -  http://www.xerostech.com/

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

 

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