Share Name Share Symbol Market Type Share ISIN Share Description
Xeros Technology Group Plc LSE:XSG London Ordinary Share GB00BJFLLV84 ORD 0.15P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.185p +1.88% 10.035p 9.52p 10.55p 9.48p 9.22p 9.22p 33,232 16:35:24
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Alternative Energy 3.5 -30.4 -28.2 - 26

Xeros Technology Group plc Signs first textiles JDA with garment manufacturer

03/06/2019 3:08pm

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RNS Number : 9794A

Xeros Technology Group plc

03 June 2019

3 June 2019

Xeros Technology Group plc

Xeros signs first textiles JDA with leading Chinese garment manufacturer

Xeros Technology Group plc (AIM: XSG, 'Xeros', 'the Group'), the developer and provider of water saving technologies with multiple commercial applications, has signed a Joint Development Agreement ('JDA') with Dongguan Crystal Knitting and Garment Co. Ltd, a subsidiary of Crystal International Group Limited, the world's largest apparel maker by volume, to trial the use of the Group's technologies in garment production.

This is Xeros' first agreement in textiles and comes after the Group signed an exclusive agreement to develop and license its domestic and commercial washing machine technologies to IFB Industries Limited ('IFB'), India's leading domestic appliance and commercial laundry equipment supplier in South Asia.

The scope of the JDA is to prove the technical and commercial benefits of Xeros' proprietary XOrb(TM) and XDrum(TM) technologies in garment production. The development and testing programme is scheduled to complete before the end of 2019. If successful, the agreement allows for both parties to discuss commercialisation terms for the development and future deployment of Xeros' technologies across a broad range of products.

Mark Nichols, Chief Executive of Xeros said:

"We have now secured third party endorsement across all our three divisions - cleaning, tanning and now textiles.

"Today's announcement is a major milestone in the application of our technology in one of the world's largest water consuming industries. Almost every garment produced in the world is subject to finishing techniques which consume vast amounts of water as well as chemistry, producing significant amounts of effluent in the process.

"We expect our agreement with Crystal International to prove out, at scale, the considerable improvements in sustainability and cost delivered by our technologies and the multiple ways in which they can be applied in the production of garments. We expect to sign further agreements with leading garment manufacturers during 2019."

ENDS

Enquiries:

 
 Xeros Technology Group plc                           Tel: 0114 321 
  Mark Nichols, Chief Executive Officer                6328 
  Paul Denney, Chief Financial Officer 
 Jefferies International Limited (Nominated Adviser   Tel: 020 7029 
  and Joint Broker)                                    8000 
  Simon Hardy / Will Soutar 
 Berenberg (Joint Broker)                             Tel: 020 3207 
  Chris Bowman / Ben Wright / Laure Fine               7800 
 Instinctif Partners (Financial PR)                   Tel: 020 7457 
  Adrian Duffield / Kay Larsen/ Chantal Woolcock       2020 
 

Notes to Editors

About Xeros

Xeros Technology Group plc (LN: XSG) is a platform technology company that is reinventing water intensive industrial and commercial processes.

Xeros uses its patented XOrb(TM) technologies to significantly reduce the amount of water used in a number of major applications with the remaining water becoming far more efficient in either affixing or removing molecules from substrates such as fabrics and garments. The result being significant improvements in economic, operational and sustainability outcomes.

Xeros has three divisions working in the garment finishing (Textile Technologies), tanning (Tanning Technologies, branded Qualus) and cleaning/laundry (Cleaning Technologies) markets. In cleaning/laundry, the company has three applications covering domestic laundry, commercial laundry (branded "Hydrofinity") and the cleaning of high-performance workwear (branded "Marken").

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

About Crystal International Group Ltd

Crystal International Group Ltd (HKEX: 2232) is the world's largest apparel maker by volume[1] delivering over 470 million pieces of apparel per annum. It has turnover of US$ 2.45bn. Crystal International operates 20 manufacturing facilities in 5 countries and employs approximately 80,000 people.

[1] Euromonitor 2016

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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June 03, 2019 10:08 ET (14:08 GMT)

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