FURTHER INCENTIVE PROGRAMMES FROM US UTILITIES

RNS Number : 4698E

Xeros Technology Group plc

10 February 2015

 



10 February 2015

Xeros Technology Group plc

("Xeros" or the "Company")

C COMPANIES

Connecticut Natural Gas, PG&E, Questar Gas, Southwest Gas and Xcel Energy offer incentives for energy reduction using Xeros laundry system

Xeros Technology Group plc (AIM: XSG), the innovative developer of a patented polymer bead cleaning system with multiple identified commercial applications, today announces that Connecticut Natural Gas, Pacific Gas & Electricity Company, Questar Gas, Southwest Gas, and Xcel Energy are now offering incentives for the energy and water savings achieved using the Xeros polymer bead cleaning systems. The Xeros polymer bead cleaning system is proven to reduce natural gas usage by up to 100% and water usage by up to 80%.  

These companies join a growing list of US utility companies including Columbia Gas of Massachusetts, National Grid and Liberty Utilities who are all already offering incentives to customers who have committed to reducing their energy and water consumption through the use of the Xeros polymer bead cleaning system. Utility company customers include hotels, commercial and industrial laundries, dry cleaners, and fitness centres. The first incentive payment by a US utility company was to Sterling Linen Services in April 2014, where the Xeros polymer bead cleaning system delivered a 98% reduction in natural gas usage and 76% reduction in water usage.

The incentives are part of a program to promote various energy-saving cleaning technologies which award financial incentives under the Federal Energy Management Program's Energy Incentive Program after specific pre-determined energy savings milestones are met. Since the incentive programmes were first launched in early 2014, eight utility companies are now offering them to their customers and have offered, in total, over $275,000 in incentives for the Xeros polymer bead cleaning system.

Jonathan Benjamin, President, Xeros, North America commented: 

"Utility companies are seeking proactive strategies that help them and their customers to save energy, reduce environmental impact and control costs. Xeros polymer bead technology laundry machines provide proven cost savings and energy conservation as evidenced by the tremendous growth in the Xeros Utility Incentive Program and positive response from customers."

Bill Westwater, CEO of Xeros, added:

"With eight US utility companies now offering incentives for customers to use our unique technology, we are delighted with the progress we have made as we continue to work towards our ultimate goal of national coverage throughout the United States. This is all part of our continued momentum in the global commercial laundry market, particularly in the US, and we look forward to providing further updates in due course."

Traditional commercial laundry machines use a tremendous amount of energy to heat the water required for the cleaning process.  In contrast, this new technology changes the most basic operating principles of the washing machine by replacing the massive quantities of hot water used in traditional washing machines with beads made from a special stain-absorbing polymer. By replacing water with polymer beads as the active ingredient for removing stains from fabrics, the polymer bead cleaning systems typically use upwards of 80% less water than a traditional commercial washing machine as well as lower temperatures, thus reducing the amount of natural gas that is consumed to heat water for the laundry process.

For further information, please contact:

Xeros Technology Group plc	Via Newgate
Bill Westwater, Chief Executive Officer Chris Hanson, Finance Director
Jefferies International (Nominated Adviser)	Tel: [phone]
Simon Hardy Harry Nicholas
Newgate Communications (Financial PR)	Tel: [phone]
Madeleine Palmstierna Georgia Lewis	Email: [e-mail]

Further information on the Group can be found on the Company's website: www.xeroscleaning.com

About Xeros

Xeros has developed a patented polymer bead cleaning system with multiple identified potential commercial applications. The Group has targeted the commercial laundry market and has begun the roll-out of 25kg capacity washing machines which exclusively use Xeros' patented polymer bead cleaning system. In trials with customers, this system has been shown to achieve superior cleaning performance as well as material reductions in water, energy and chemical usages compared to conventional laundry methods. The Xeros proprietary polymer bead cleaning system also reduces the carbon footprint of the entire laundry process. In addition to the commercial laundry market, the Group's polymer bead technology has a range of potential applications in other industries including domestic laundry, leather processing, garment finishing and metal cleaning. The Group is currently in various stages of development and preparation for commercialisation of other identified applications, the most advanced of which is domestic laundry.

In May 2014, the Group at the Edison Awards 2014 in San Francisco won Bronze in the Energy/Sustainability category for its ultra-low water commercial laundry system and, on the same evening, the Group was named University Spin-Out of the Year at the New Energy & Cleantech Awards 2014 in London.

For more details on Xeros' Utility Incentive Programs see http://info.xeroscleaning.com/utility-incentive

 

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