Xeros Technology Group plc First XDrum sales in Denim Finishing market (3769G)
November 25 2020 - 2:00AM
UK Regulatory
TIDMXSG
RNS Number : 3769G
Xeros Technology Group plc
25 November 2020
Xeros Technology Group plc
Xeros licensee makes first XDrum sales in Denim Finishing
market
Xeros Technology Group plc (AIM: XSG, 'the Group', 'Xeros'), the
developer and licensor of platform technologies which transform the
sustainability and economics of clothing and fabrics during their
lifetime , is pleased to announce that its Indian license partner,
Ramsons Garment Finishing Equipment Ltd ('Ramsons'), has received
an order for 9 denim finishing machines incorporating Xeros'
technologies.
Manufacturing will start immediately with the first machines
shipped later this year to ABA Group ('ABA'), a leading supplier of
garments to internationally recognised brands including American
Eagle, H&M and Zara. ABA have a production capacity of 45
million garments per annum with approximately 70% devoted to denim
products.
The order represents the first sales of Xeros' innovative
XDrum(TM) design which fully automates the use of the Group's
proprietary XOrbs(TM) in garment finishing and laundry processes.
The use of XOrbs in the denim finishing process eliminates the need
for pumice stone and reduces water consumption by 75%.
Manufacturing productivity and economics are also improved by
allowing all finishing processes to be undertaken in a single
machine in shorter cycle times. The XDrum-enabled machines are up
to 5,000 litres in cubic capacity and can process approximately 300
pairs of jeans per cycle.
In line with the Board's expectations, Xeros will receive a mid
to high single digit royalty for these machine sales as well as
royalties for the ongoing use of XOrbs. This first order in denim
finishing is an important milestone for both Xeros and Ramsons
ahead of a full market launch in Q1 next year.
Mark Nichols, CEO Xeros commented: "The order from the ABA Group
marks the first sale of Xeros' new XDrum machine design and
represents a landmark in the execution of our strategy.
Our collaboration with Ramsons has created a new way for turning
raw denim into finished garments, at a time when the industry is
under intense pressure to reduce its environmental impact and
costs. More than one billion pairs of jeans are sold every year,
with each one exacting an environmental toll including high water
consumption during manufacture and when washed by consumers.
Microfibres from their laundering are also entering our rivers and
oceans.
Our mission is to change this dramatically for the better for
all the garments in our world. Today's announcement with Ramsons
and ABA Group is an important step towards doing so."
Sunder Belani, CEO Ramsons commented:" Xeros' technologies were
one of the principle reasons for ABA Group selecting Ramsons to
equip their new denim finishing operation. ABA who operate to the
highest environmental standards, are one of the largest apparel
manufacturers in Bangladesh supplying global leaders in the fashion
industry. We expect our partnership with Xeros to generate further
orders in South Asia which is one of the world's largest centres of
garment production."
ENDS
Xeros Technology Group plc Tel: 0114 321 6328
Mark Nichols, Chief Executive Officer
Paul Denney, Chief Financial Officer
finnCap Limited (Nominated Adviser, Broker) Tel: 020 7220 0570
Julian Blunt / Teddy Whiley, Corporate Finance
Andrew Burdis, ECM
-------------------
Notes to Editors
Xeros Technology Group plc has developed and licenses two
platform technologies which transform the sustainability,
performance and economics in the manufacturing and laundering of
garments and fabrics.
Xeros' patented XOrbs(TM) which are used in conjunction with the
company's XDrum(TM) technology significantly reduce the amount of
water used in the dyeing, finishing or laundering of 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 manufacturing, commercial and domestic
laundry and tanning with its laundry applications increasing
garment care and life.
Xeros' XDrum(TM) technology is a patented, low cost machine drum
design which enables XOrbs to be introduced into and subsequently
removed from process cycles in Xeros' chosen fields. The design
provides Original Equipment Manufacturers with the ability to make
simple changes to their products to incorporate the Company's XOrb
technology.
The Group has signed multiple license agreements for its XDrum
and XOrb products with leading OEMs in major commercial and
domestic markets.
XFiltra(TM) is a proprietary in-machine filtration technology
which prevents harmful microfibres including microplastics,
generated during washing cycles, from being released into the
world's river and oceans. Microplastics released from synthetic
clothing during laundering is one of the largest sources of primary
microplastic pollution entering our oceans every year.
For more information, please visit -
http://www.xerostech.com/
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN
ARTICLE 7 OF THE MARKET ABUSE REGULATION NO. 596/2014 ("MAR").
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