News: Xeros successful in £5.95m fundraise
Xeros Technology Group plc, the Rotherham-based creator of technologies that reduce the impact of clothing on the planet, has raised close to £6m to fund operations.
Based on the Advanced Manufacturing Park (AMP) in Rotherham, Xeros is a Leeds University spin-out that has created a number of technologies, such as the use of polymer beeds in washing and filters to collect microplastics.
The AIM-listed firm secured funding through a successful fundraise, retail offer and follow on, which included existing and linked shareholders.
Net proceeds will provide the group with at least 12 months' working capital and will be used to strengthen the company's balance sheet, enabling execution of current contracts, pursuit of global opportunities and to provide reassurance to contract counterparties.
Funding will also provide working capital as the company advances commercialisation of its core technologies.
For the six months ended 30 June 2025, Xeros posted a net loss narrowing by nearly 11% compared to the previous reporting period. The loss for the last half-year stood at £1.73m, down from a loss of £1.94m in the same period last year. Adjusted EBITDA loss fell to £1.6m from £2.4m.
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The company recently signed a breakthrough agreement with one of the world's largest branded washing machine manufacturers that will result in the mass production of domestic washing machines using Xeros' Laundry Care technology (XDrum and XOrbs) under the manufacturer's brand.
Xeros anticipates that similar paid for agreements will follow, with three further global washing machine manufacturers currently in technical verification.
Announcing the placing, the board said that it was "confident about the prospects for the Group and now have in place commercial and development agreements across all three of the Company's technologies that are capable of delivering meaningful revenue.
"Commercial traction is expected across the Group's technology portfolio, with major laundry, machinery and electronics brands taking the technology to market."
Neil Austin, CEO of Xeros, said: "We have immediate commercial opportunities within domestic laundry for care and filtration, denim processing, and commercial laundry. Major global players across these areas are working with us to use our technology to help them improve performance, lessen environmental damage, and save energy, resources and money. This fundraise will ensure we continue the positive trajectory achieved in 2025, which is taking us ever closer to the global adoption of Xeros' technology."
Xeros website
Images: Xeros
Based on the Advanced Manufacturing Park (AMP) in Rotherham, Xeros is a Leeds University spin-out that has created a number of technologies, such as the use of polymer beeds in washing and filters to collect microplastics.
The AIM-listed firm secured funding through a successful fundraise, retail offer and follow on, which included existing and linked shareholders.
Net proceeds will provide the group with at least 12 months' working capital and will be used to strengthen the company's balance sheet, enabling execution of current contracts, pursuit of global opportunities and to provide reassurance to contract counterparties.
Funding will also provide working capital as the company advances commercialisation of its core technologies.
For the six months ended 30 June 2025, Xeros posted a net loss narrowing by nearly 11% compared to the previous reporting period. The loss for the last half-year stood at £1.73m, down from a loss of £1.94m in the same period last year. Adjusted EBITDA loss fell to £1.6m from £2.4m.
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The company recently signed a breakthrough agreement with one of the world's largest branded washing machine manufacturers that will result in the mass production of domestic washing machines using Xeros' Laundry Care technology (XDrum and XOrbs) under the manufacturer's brand.
Xeros anticipates that similar paid for agreements will follow, with three further global washing machine manufacturers currently in technical verification.
Announcing the placing, the board said that it was "confident about the prospects for the Group and now have in place commercial and development agreements across all three of the Company's technologies that are capable of delivering meaningful revenue.
"Commercial traction is expected across the Group's technology portfolio, with major laundry, machinery and electronics brands taking the technology to market."
Neil Austin, CEO of Xeros, said: "We have immediate commercial opportunities within domestic laundry for care and filtration, denim processing, and commercial laundry. Major global players across these areas are working with us to use our technology to help them improve performance, lessen environmental damage, and save energy, resources and money. This fundraise will ensure we continue the positive trajectory achieved in 2025, which is taking us ever closer to the global adoption of Xeros' technology."
Xeros website
Images: Xeros
1 comments:
Another good news story. Come on Mr me, you're falling behind on negative posts
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