Xeros Technology Group plc presented half year 2018 report

Xeros Technology Group plc. –  Developer and provider of patented polymer based water saving solutions with multiple commercial applications – recently published its half year 2018 results for the period that ended 30 June 2018.

As group highlights some major commercialisation milestones are indicated:

  • Chinese Hydrofinity (Commercial Laundry) licence signed
  • Three additional sites operational in Marken (High Performance Workwear)
  • Positive engagement with major domestic washing machine manufacturers
  • The group earned income amounted to £1.9m (2017: £1.1m), up 77.3% with 142.6% increase in service income.

As to cleaning technologies the following developments are mentioned:

  • First Symphony Project agreement signed to commercialise commercial laundry technology in China
  • First major orders from the Middle East and South Africa under new asset light business mode Installed base of 389 revenue-earning machines at 30 June 2018 (2017: 323), up 20%
  • Upgrading of the quality of US customer base ahead of plans to migrate to the new low-cost model
  • Independent validation of Xeros’ cleaning efficacy and garment life extension confirmed

Xeros Technology Group plc is a platform technology company that is reinventing water intensive industrial and commercial processes. Xeros uses its patented XOrbTM 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 covering the cleaning/laundry, tanning and garment finishing markets. In cleaning/laundry, the company has three applications covering commercial laundry (branded “Hydrofinity”), the cleaning of high performance workwear (branded “Marken”) and domestic laundry.