Wednesday, December 16, 2015

News: Xeros picks up European award

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Innovative Rotherham company, Xeros, has been announced as winner of the Best New Listed Company category at the European Small and Mid-Cap Awards in Brussels.

Based on the Advanced Manufacturing Park (AMP), Xeros is a Leeds University spin-out that has developed a patented system using a unique method of special polymer beads rather than the usual large amounts of fresh water to clean clothes.

Admitted to AIM in 2014, Xeros is commercialising the system which uses at least 70% less water, up to 50% less energy and approximately 50% less detergent.

The Awards, founded by the European Commission, the Federation of European Security Exchanges (FESE) and European issuers are now in their third year and honour the best Initial public offering (IPO) (stock market launch) by small and mid-cap companies. The European competition was launched in order to promote the best practices and success stories of the most dynamic companies financed by European public capital markets, to encourage the diversity of our markets, and to promote stock listings, in particular targeting the growth companies.

Xeros was also named as runner-up in the Most Innovative Newcomer category as the patented polymer technology is described as the first real revolution in laundry in 60 years.

Mark Nichols, CEO of Xeros said: "We are delighted to be named as the winner of the Best New Listed Company category in these prestigious awards. As a result of our AIM listing on the London Stock Exchange we have been able to support the roll-out of our commercial laundry strategy, raising the profile of the company and our technologies with potential partners, customers and investors alike."

Deirdre Somers, president of FESE, said: "The listed companies nominated for these awards fully deserve recognition for their achievements and serve as an example to other companies of the positive benefits that can be gained from equity financing."

Xeros raised £30m by floating on the stock exchange and is planning to raise a further £40m from a share placing to maintain momentum and accelerate the roll out strategy of its commercial laundry business in the Americas and Europe.

Xeros website

Images: Xeros

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