Monday, January 11, 2016

News: Board changes at Xeros


The chief scientist at innovative Rotherham company, Xeros, has stepped down from the board in order to concentrate on the firm's scientific development programmes.

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.

The AIM-listed firm said today that Maciek Drozdz, from investor, the Entrepreneurs Fund, has resigned as a non-executive director with immediate effect and Dr Steve Jenkins, chief science officer, has stepped down as a director of Xeros. He will continue as the group's chief science officer, as a key member of the executive management team and will remain a director of Xeros Limited.

The board changes follow on from Mark Nichols becoming new chief executive officer in September, replacing Bill Westwater, who decided to step down after seven years in the role.

John Samuel, chairman of Xeros, said: "I would like to thank both Maciek and Steve for their contributions to our board. As the representative of one of our initial investors Maciek has contributed greatly to our progress. Steve is stepping down from PLC duties to enable him to focus fully on leading the successful delivery of our scientific development programmes.

"These changes are in accordance with our well-publicised strategy to evolve the composition of the board and we expect to announce the appointment of additional non-executive directors in due course."

Xeros's technology is protected by a library of patents. In 2015, the core process patent was granted in the US, strengthening the competitive position in this key geography and completing protection in all its major geographies.

The patent portfolio currently comprises 39 patent filings which cover polymer bead technologies in applications from commercial and domestic laundry through to leather, metal surface treatments and information/communications technology. In raising a further £40m in a share issue at the end of 2015, the company intends to safeguard its technological advantage by continuing to broadly file patents for its polymer bead inventions and their methods of use.

Xeros said that continued innovation and new patents will enable it to remain at the forefront of applied polymer bead science in its targeted markets.

Dr Steve Jenkins (pictured) joined the firm in 2009 as it commercialises the ground-breaking system that is the first real innovation in the laundry industry for 60 years.

The firm's polymer science and engineering capabilities are expanding, with these teams growing, in aggregate, from 18 when it launched on the stock exchange in 2014 to 29 today. These teams are now housed in the Xeros Technology Centre, a specially designed 11,000 sq ft facility on the AMP which opened in August last year.

Scientists are undertaking further development work on "Gen 2" beads with world leading chemical company, BASF, as well as research conducted independently within the company or in collaboration with academic institutions.

A full review of all potential polymer bead applications is expected to be carried out in the first half of 2016 and the company is set to select particularly attractive applications for further development, such as garment finishing, which have physical production processes similar with those found in commercial laundry.

Xeros website

Images: Xeros


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