Xeros Technology Group plc Development Agreement for Microplastic Filtration (3658G)

TIDMXSG

RNS Number : 3658G

Xeros Technology Group plc

17 March 2020

17(th) March 2020

Xeros Technology Group plc

Xeros signs first development agreement for microplastic filtration in commercial laundry

Xeros Technology Group plc (AIM: XSG, "the Company", "the Group" or "Xeros"), the developer and provider of water saving and filtration technologies with multiple commercial applications, announces today that it has signed a Joint Development Agreement ("JDA") with a global leader in commercial laundry solutions, with the aim of incorporating the Company's microplastic filtration system, XFiltra(TM) , into their commercial washing machines.

Washing textiles containing synthetic fibres, such as nylon or polyester, is a major source of microplastic pollution. Globally, it accounts for 35% of primary microplastics released into the oceans every year [1] . As many as 700,000 microplastic fibres can be released in the wastewater from a single load of domestic laundry [2] .

Xeros' patented filtration system, XFiltra removes up to 99% of these microplastic fibres from laundry effluent. The device lasts for the lifetime of the washing machine and does not use disposable filter cartridges.

Xeros' joint development partner aims to be the first company in the world to provide commercial laundries with washing machines fitted with microplastic filtration. Upon successful completion of the joint development, the JDA provides for the negotiation of a commercial agreement to license Xeros' filtration technology in a number of geographies in exchange for royalties.

Mark Nichols , Chief Executive of Xeros, said:

"This invisible form of plastic pollution is highly damaging to our environment and wildlife, and is one of the ways in which microplastics are readily entering our food chain. Having developed our filtration solution over the last three years, we are delighted to be working with one of the world's most respected and environmentally aware commercial laundry solution providers.

We believe XFiltra to be the most effective product available, enabling companies and consumers to substantially reduce this form of microplastic pollution. Legislation currently being passed in various geographies will hasten and increasingly mandate adoption of in machine filtration in order to remove microplastics from washing machine effluent streams."

Enquiries :

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

Notes to Editors

Xeros Technology Group plc is a platform technology Group that is transforming water intensive industrial and commercial processes.

Xeros' patented XOrb (TM) technologies significantly reduce the amount of water used in the washing or dyeing of soft substrates such as 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 and fabric cleaning, leather tanning and apparel manufacturing.

Xeros' XDrum (TM) technology is a patented, simple, low cost machine drum design which enables XOrbs to be introduced into and subsequently removed from process cycles in Xeros' chosen markets. The design provides Original Equipment Manufacturers ("OEMs") with the ability to easily incorporate the Company's XOrb (TM) technology into their products.

The Group has signed multiple agreements with license partners in major commercial and domestic markets for both its XOrb and XDrum technologies.

XFiltra (TM) is a patented in-machine filtration technology which is designed to prevent harmful microplastics generated by washing cycles from being released into the aqua cycle. Plastics released from synthetic clothing during washing cycles is one of the single largest sources of primary microplastic pollution.

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

[1] https://portals.iucn.org/library/sites/library/files/documents/2017-002-En.pdf

[2] https://www.plymouth.ac.uk/news/washing-clothes-releases-thousands-of-microplastic-particles-into-environment-study-shows

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March 17, 2020 03:00 ET (07:00 GMT)