Business
Licensing Agreement With Leading Asian OEM
Licensing Agreement With Leading Asian OEM.
About this update from Xeros Technology Group Plc
[{"type":"text","content":"\n \n \n RNS Number : 7604G\n Xeros Technology Group plc\n 19 March 2020\n \n \n \n \n 19 March 2020\n \n \n \n \n \n Xeros Technology Group plc\n \n \n \n \n \n \n \n L\n icensing agreement with leading Asian OEM for garment finishing\n \n \n \n \n \n \n Xeros Technology Group plc (AIM: XSG, 'Xeros', 'the Group'), the developer and provider of water saving and filtration technologies with multiple commercial and domestic applications, has signed a licensing agreement ('agreement') with Ramsons Garment Finishing Equipments PVT Ltd ('Ramsons'), one of the largest garment finishing equipment suppliers in South Asia. \n \n \n \n \n \n The agreement provides Ramsons with an exclusive license for the manufacture and sale of Xeros-enabled garment finishing and dyeing equipment in South Asia. Under the terms of the agreement, Xeros will receive a royalty for each XDrum™ machine sold by Ramsons and a share of the multi-year annuity revenues, paid by the garment manufacturers, for the ongoing use of XOrbs™. The agreement allows for additional geographies to be added into the future.\n \n \n \n \n \n Denim finishing will be the first application to be commercialised under the agreement. Xeros and Ramsons are currently developing cycles on a 5,000 litre XDrum™ machine ahead of trials with major denim manufacturers. The first sales of machines are anticipated in the second half of 2020, albeit with limited revenue impact this year. \n \n \n \n \n \n About 1.2 billion pairs of jeans are manufactured globally every year. Xeros' technology significantly reduces the volume of water, chemistry and cycle time used in the processing of raw denim jeans into consumer products.\n \n \n \n \n \n \n Mark Nichols, \n \n CEO of Xeros commented:\n \n \n \n \n \n \"The process of making garments, and especially denim, is putting enormous pressure on our natural environment. It consumes vast amounts of water and other raw materials whilst producing chemical and greenhouse gas emissions.\n \n \n \n \n \n \"Working together with Ramsons to embed our products in their garment finishing equipment, we have an opportunity to significantly improve the sustainability of the clothes we all wear.\n \n \n \n \n \n \"This agreement is our first in apparel production and it validates...