Cleaning tech company in ‘potentially transformational’ talks with global firms
Water cleaning technology business, Xeros Technology Group, says it has signed a letter of intent with a major electronics distributor for an initial order of its XF3 external microfibre plug and go filter.
This will see the product placed into several major retail outlets, initially in the UK under a well-known electronics brand, towards the latter part of 2025.
The filter can be fitted to washing machines and is designed to capture microplastics to help reduce water pollution.
Rotherham-headquartered Xeros adds that further discussions for orders of XF3 with some of the world’s largest electronics brands and distributors are progressing well, with other partnership announcements anticipated in early quarter three.
The business also says interest in its FABRIC CARE technology is gaining further momentum globally.
It says it recently entered into a paid-for technical verification process with a global washing machine brand. Technical verification is a proof-of-concept process, which precedes a joint development agreement, (JDA) and typically takes around six months to complete.
Xeros is now in the tech verification process with four of the world’s largest washing machine companies for its FABRIC CARE technology. Of these brands, two are in final stage evaluations ahead of signing a JDA.
Neil Austin, Xeros CEO, said: “The importance of our discussions with these major global players should not be underestimated.
“A joint development agreement with any one of these could be potentially transformational for the group, opening the door for others to follow.
“The washing machine industry is ripe for innovation and change. Existing washing machines have remained largely the same for 40 years and there is pressure on leading OEMs to innovate to secure future sales and market share, as well as meeting upcoming environmental regulations.”
In a trading update ahead of its results for the year ended 31 December 2024, which will be published in May 2025, Xeros says it expects to achieve revenues of around £2.5m in the current year.
The business says its net cash as of 31 December 2024 was £2.8m. Xeros states it expects this will be sufficient to take the group to month-on-month cash flow break even during the course of this year.
