Xeros signs major laundry deal

RNS Number : 4219O

Xeros Technology Group plc

09 February 2016

 

9 February 2016

Xeros Technology Group plc

Xeros signs $1m deal with New York-based on-demand laundry service provider eLaundry.com

Xeros Technology Group plc (AIM: XSG, 'Xeros'), the innovative developer of patented polymer bead systems with multiple identified commercial applications, has signed a contract to provide and service eight of its washing machines to New York City based laundry service provider eLaundry.com, under the Group's integrated purchase and service package, Xeros Sbeadycare®. The agreement is expected to be worth approximately $1 million in revenue to Xeros over the course of the eight year contract.

eLaundry.com operates one of the fastest growing laundries serving Manhattan processing over 3.6 million lbs. of laundry per year. It provides on-demand laundry services to consumers as well as a wide range of commercial customers, including hotels, spas, salons, universities and restaurants.

eLaundry.com makes laundry services accessible and affordable by offering free pickup and delivery which can be easily scheduled online or by text message. On-demand services enabled by digital devices are rapidly changing the way in which consumers and businesses manage laundry. The superior cleaning performance of Xeros' energy and water efficient solution enables on-demand providers to add increased quality and sustainability to their customer offering.

Mark Nichols, Chief Executive of Xeros, said:

 "This is a substantial long term contract and further evidence that customer momentum is continuing to build in our Commercial Laundry business. Our Sbeadycare® service agreements provide customers with the security of long term support and planned preventative maintenance. They also provide us with visibility of forward turnover and contribution.

"This deal further demonstrates the growing demand for our innovative cleaning system which provides material reductions in energy, chemistry and water whilst simultaneously improving wash performance and fabric care."  

Enquiries:

Xeros Technology Group plc                                                                                           Via Instinctif Partners

Mark Nichols, Chief Executive Officer

Chris Hanson, Chief Financial Officer

Jefferies International Limited (Nominated Adviser)                                                  Tel: [phone]

Simon Hardy / Harry Nicholas

Instinctif Partners                                                                                                                        Tel: [phone]

Helen Tarbet / James Gray

 

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