Xeros Technology Group plc Licensing Agreement With Leading Asian OEM (7604G)
March 19 2020 - 2:00AM
UK Regulatory
TIDMXSG
RNS Number : 7604G
Xeros Technology Group plc
19 March 2020
19 March 2020
Xeros Technology Group plc
L icensing agreement with leading Asian OEM for garment
finishing
Xeros Technology Group plc (AIM: XSG, 'Xeros', 'the Group'), the
developer and provider of water saving and filtration technologies
with multiple commercial and domestic applications, has signed a
licensing agreement ('agreement') with Ramsons Garment Finishing
Equipments PVT Ltd ('Ramsons'), one of the largest garment
finishing equipment suppliers in South Asia.
The agreement provides Ramsons with an exclusive license for the
manufacture and sale of Xeros-enabled garment finishing and dyeing
equipment in South Asia. Under the terms of the agreement, Xeros
will receive a royalty for each XDrum(TM) machine sold by Ramsons
and a share of the multi-year annuity revenues, paid by the garment
manufacturers, for the ongoing use of XOrbs(TM). The agreement
allows for additional geographies to be added into the future.
Denim finishing will be the first application to be
commercialised under the agreement. Xeros and Ramsons are currently
developing cycles on a 5,000 litre XDrum(TM) machine ahead of
trials with major denim manufacturers. The first sales of machines
are anticipated in the second half of 2020, albeit with limited
revenue impact this year.
About 1.2 billion pairs of jeans are manufactured globally every
year. Xeros' technology significantly reduces the volume of water,
chemistry and cycle time used in the processing of raw denim jeans
into consumer products.
Mark Nichols, CEO of Xeros commented:
"The process of making garments, and especially denim, is
putting enormous pressure on our natural environment. It consumes
vast amounts of water and other raw materials whilst producing
chemical and greenhouse gas emissions.
"Working together with Ramsons to embed our products in their
garment finishing equipment, we have an opportunity to
significantly improve the sustainability of the clothes we all
wear.
"This agreement is our first in apparel production and it
validates our efforts to prove that our innovative technologies can
have a significant impact in the sector."
Sunder Belani, Managing Director Ramsons commented:
" Protecting the earth's natural resources and our precious
environment is the mantra of sustainability.
"Across India and South Asia garment manufacturers are actively
looking for new and innovative technologies to help us protect our
environment, which is under extreme pressure from the effects of a
changing climate.
"By embedding Xeros' products in our equipment our clients will
save water, energy and reduce harmful emissions. It represents the
best option for sustainability."
ENDS
Xeros Technology Group plc Tel: 0114 321
Mark Nichols, Chief Executive Officer 6328
Paul Denney, Chief Financial Officer
finnCap Limited (Nominated Adviser, Broker) Tel: 020 7220
Julian Blunt / Teddy Whiley, Corporate Finance 0570
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 cleaning, tanning and
textiles.
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 enables rotating drum machine Original Equipment
Manufacturers ("OEMs") in the fields of garment manufacture and
cleaning, the ability to make simple and low cost changes in their
production lines to incorporate the Company's XOrb (TM)
technology.
The Group has signed multiple agreements to develop and license
its XDrum (TM) and XOrb (TM) products in major commercial and
domestic markets.
XFiltra (TM) is a patented in-machine filtration technology
which is designed to prevent harmful micro-plastics generated by
washing cycles from being released into the aquacycle. Plastics
released from synthetic clothing during washing cycles is one of
the single largest sources of primary micro-plastic pollution. For
more information, please visit - http://www.xerostech.com/
About Ramsons
For more information, please visit -
http://www.ramsonsindia.com/
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END
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