Leather Tannery Contract

RNS Number : 6386K

Xeros Technology Group plc

11 July 2017

 

11 July 2017

Xeros Technology Group plc

Xeros signs 10 year contract with leading European tannery

Xeros Technology Group plc (AIM: XSG, 'Xeros', 'the Group'), the developer and provider of polymer based technologies with multiple commercial applications, has signed a 10 year contract with Wollsdorf Leder Schmidt & Co. Ges.m.b.h ('Wollsdorf') to convert its re-tanning operations in Austria to use Xeros' patented polymer technology. This contract follows the previously announced heads of terms in January 2017.

Wollsdorf, which was awarded Global Tannery of the Year in 2014 by World Leather magazine, primarily produces and exports premium quality leather to the luxury leather market, including to manufacturers of a number of leading car brands.

The contract follows extensive trials which demonstrated material reductions in process inputs and effluent production, radically improving the sustainability of production whilst maintaining high quality leather output.

Further scale trials have either been completed or are in progress with an additional five European tanneries as part of the commercialisation of Xeros' innovative technology across the leather tanning industry. The tanneries at which these trials are being conducted produce leather for a range of global markets, including footwear, fashion and automotive.

Mark Nichols, Chief Executive of Xeros, said:                     

"Our contract with Wollsdorf confirms that we have a viable technology for the tanning industry that can be incorporated simply into the production process. In partnership with our customers, we can radically improve sustainability whilst sharing in the value our innovative technology creates.

"The considerable interest we are witnessing from many significant players in the leather industry is a strong indication of the potential to rapidly increase the deployment of our technology in what is a global scale industry."

Enquiries:

Xeros Technology Group plc Mark Nichols, Chief Executive Officer Paul Denney, Chief Financial Officer	Tel: [phone]
Jefferies International Limited (Nominated Adviser and Joint Broker) Simon Hardy / Harry Nicholas	Tel: [phone]
Berenberg (Joint Broker) Chris Bowman / Ben Wright / Amritha Murali	Tel: [phone]
Instinctif Partners (Financial PR) Adrian Duffield / Helen Tarbet / James Gray	Tel: [phone]

Notes to Editors

Xeros Technology Group plc (LN: XSG) is a platform technology company that is reinventing water intensive industrial and commercial processes by reducing water and chemistry usage with its polymer technologies.  Its patented technologies have the capacity to provide material economic, operational and sustainability improvements that are unattainable with traditional processes.  The Group is currently exploiting its intellectual property in three areas: Cleaning Technologies, Tanning Technologies and Textile Technologies. Xeros has a number of agreements in place with such international organisations as BASF, Hilton and Wollsdorf Leder.

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

 

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