News: Xeros takes a step closer to domestic machine
Xeros has signed an exclusive agreement to develop and license its domestic and commercial washing machine technologies to IFB Industries Limited (IFB).
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 is targeting commercial laundry and domestic laundry as well as the tanning industry and textile manufacturing.
IFB is the leading domestic appliance and commercial laundry equipment supplier in South Asia and is listed on the National Stock Exchange of India.
The Development and Licensing Agreement has a ten year duration and covers the incorporation and commercialisation of Xeros' water saving XOrb and XDrum technologies into selected ranges of IFB's domestic and commercial sized washing machines.
Xeros said that it will receive immediately a one-off exclusivity fee and during the development phase further payments when various milestones are reached. IFB will have access to Xeros' technology and has been granted rights to the Indian market on an exclusive basis and for other South Asian territories on a non-exclusive basis. The contract has the provision to add additional territories on a non-exclusive basis.
Xeros will also receive royalties based upon sales revenues after the machines have completed development. The firm is moving to "IP-rich, capital-light" business models.
Sales of commercial washing machines and domestic washing machines incorporating Xeros' technologies are planned to commence in India in 2020 and 2021 respectively.
Advertisement
Mark Nichols, chief executive of Xeros, said: "This licensing agreement with the leading Indian OEM for both the domestic appliance and commercial laundry markets is another major milestone in the commercialisation of our cleaning technologies.
"IFB's capabilities and market reach make them a very strong commercialisation partner in a country where water demand is expected to increase by more than 60% over the next 30 years with some 80% of the current population already impacted by water scarcity.
"With this agreement, IFB's customers will be able to reduce water, detergent and energy consumption whilst simultaneously benefitting from improved cleaning performance and garment life extension."
In January Xeros signed a Joint Development Agreement (JDA) with Wuxi Little Swan Company Limited, a subsidiary of Midea Group, the Chinese manufacturer of home appliances. Midea is one of the world's largest manufacturers of domestic washing machines.
Officially launched at CES 2018, XOrbs last for many hundreds of washes before needing to be replaced and recycled. The beads gently remove unwanted molecules and contaminants from materials allowing washing machines to work more efficiently while using just a fraction of the water traditionally needed.
The XDrum is an elegant and inexpensive system which introduces the XOrbs during the wash as the drum rotates. 50% less water than conventional machines is used and the XOrbs are collected after the wash with a simple change of direction. Clean clothes are then removed from the machine as normal.
Xeros website
Images: Xeros
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 is targeting commercial laundry and domestic laundry as well as the tanning industry and textile manufacturing.
IFB is the leading domestic appliance and commercial laundry equipment supplier in South Asia and is listed on the National Stock Exchange of India.
The Development and Licensing Agreement has a ten year duration and covers the incorporation and commercialisation of Xeros' water saving XOrb and XDrum technologies into selected ranges of IFB's domestic and commercial sized washing machines.
Xeros said that it will receive immediately a one-off exclusivity fee and during the development phase further payments when various milestones are reached. IFB will have access to Xeros' technology and has been granted rights to the Indian market on an exclusive basis and for other South Asian territories on a non-exclusive basis. The contract has the provision to add additional territories on a non-exclusive basis.
Xeros will also receive royalties based upon sales revenues after the machines have completed development. The firm is moving to "IP-rich, capital-light" business models.
Sales of commercial washing machines and domestic washing machines incorporating Xeros' technologies are planned to commence in India in 2020 and 2021 respectively.
Advertisement
Mark Nichols, chief executive of Xeros, said: "This licensing agreement with the leading Indian OEM for both the domestic appliance and commercial laundry markets is another major milestone in the commercialisation of our cleaning technologies.
"IFB's capabilities and market reach make them a very strong commercialisation partner in a country where water demand is expected to increase by more than 60% over the next 30 years with some 80% of the current population already impacted by water scarcity.
"With this agreement, IFB's customers will be able to reduce water, detergent and energy consumption whilst simultaneously benefitting from improved cleaning performance and garment life extension."
In January Xeros signed a Joint Development Agreement (JDA) with Wuxi Little Swan Company Limited, a subsidiary of Midea Group, the Chinese manufacturer of home appliances. Midea is one of the world's largest manufacturers of domestic washing machines.
Officially launched at CES 2018, XOrbs last for many hundreds of washes before needing to be replaced and recycled. The beads gently remove unwanted molecules and contaminants from materials allowing washing machines to work more efficiently while using just a fraction of the water traditionally needed.
The XDrum is an elegant and inexpensive system which introduces the XOrbs during the wash as the drum rotates. 50% less water than conventional machines is used and the XOrbs are collected after the wash with a simple change of direction. Clean clothes are then removed from the machine as normal.
Xeros website
Images: Xeros
0 comments:
Post a Comment