Xeros Technology Group plc Xeros signs agreement with WashCo in UK
September 10 2019 - 1:02AM
RNS Non-Regulatory
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Xeros Technology Group plc
10 September 2019
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10 September 2019
Xeros Technology Group plc
Xeros signs agreement with WashCo in UK
Xeros Technology Group plc (AIM: XSG, 'Xeros', 'the Group'), the
developer and provider of water saving and filtration technologies
with multiple commercial applications, has signed an agreement with
WashCo Ltd ('WashCo').
WashCo has been granted the exclusive rights to take over the
servicing of Xeros' hospitality laundry customers in the UK. The
Group's hospitality laundry division is branded Hydrofinity.
WashCo, based in Newbury, UK specialises in the specification,
installation and lifecycle maintenance of industrial laundry
equipment throughout the UK. Following the merger of three former
industry specialists: Armstrong Laundry, HughesPro and SLS, WashCo
is now one of the largest sales and service providers of commercial
laundry equipment in the UK.
Following similar agreements in the US announced at the end of
2018, this agreement reflects the Group's strategy of reducing its
physical presence in markets to zero and implementing its licensing
model.
Mark Nichols, Chief Executive of Xeros, said:
"Following our recent agreements in the US, initially to
outsource our service obligations and then to sell our customer
lease contracts, this is another step in the migration of our
Hydrofinity business towards a full licensing model."
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
About Xeros
Xeros Technology Group plc (LN: XSG) is a platform technology
Group that is reinventing water intensive industrial and commercial
processes.
Xeros' patented XOrb(TM) technologies 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,
product and sustainability outcomes. The Group is applying its
technology in the fields of cleaning, tanning and textiles.
Xeros' XDrum(TM) technology is used to apply XOrbs in world
scale commercial and domestic markets and has signed multiple
agreements to license its products.
XFiltra(TM) is Xeros' in machine filtration technology which
enables major reductions in the amount of microfibres being
released from washing machines into the marine environment.
For more information, please visit -
http://www.xerostech.com/
About WashCo
WashCo, based in Newbury, Berkshire is a national company
specialising in the supply, support and lifecycle maintenance of
commercial laundry equipment.
For more information, please visit -
http://www.washco.co.uk/
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END
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