Exciting year ahead for Xeros says CEO

THE chief executive of waterless washing machine specialist Xeros Technology says the group is poised to take advantage of a number of exciting opportunities in the year ahead as it continues to gain traction in its key markets.

Speaking to TheBusinessDesk.com yesterday following the release of its maiden full year results since its AIM float in March , Bill Westwater confirmed that the US is the most important market for the Rotherham-based group for the “forseeable future”.

“We want to take advantage of the traction we have achieved in the US, particularly the hotel market,” he said. “There is also scope for us to further target dry cleaners – a huge market in the US.”

Xeros, a Leeds University spin-out, has come up with a way of cleaning clothes by using 70% less water and 50% less energy.

The company was launched in 2006 to develop and commercialise years of research into textile dyeing and the use of polymer beads for cleaning. The system involves releases polymer beads into the drum which absorb dirt.

Westwater also spoke of the exciting prospects for the company following its first order win from the US military.

“It is early doors but this could open up a whole new channel for Xeros,” he said. “The US military operates in some extremely dry areas, where water is not cheap, so our technology is a very good proposition for them.”

Away from the US, the company intends to keep pushing ahead in the UK and Europe, boosted by a €700,000 Eco-Innovation grant to drive early adoption in Europe.

Xeros also has high hopes for progress in the leather industry and says its polymer bead technology could change the way tanneries operate in a “substantial way.”

“Ninety tonnes of water is required to produce a tonne of leather,” said Westwater. “But with the use of our technology, tanneries would not only make huge savings on water but also reduce chemical usage, which in turn will create a far superior result for the leather product.”

Xeros’ successful admission to AIM earlier this year raised £30m, boosting its cash position to remain well funded as it continues to develop the business.

“While there are the obvious pressures of being an early stage business on the public market, the IPO really has propelled us towards further growth and the publicity it created has been very beneficial,” said Westwater.

He also said the IPO has helped accelerate its corporate partnering strategy.

“Larger corporations, which we are aiming to partner with, respect the rigours and validation processes required for an LSE float,” said Westwater. “The prospects for the business over the next year really are exciting.”