11 March 2024
XEROS TECHNOLOGY GROUP PLC
("Xeros")
AIM: XSG
BOARD APPOINTMENT
Alex Tristram joins the Board as Finance Director
Xeros, the creator of technologies that reduce the impact of clothing on the planet, is pleased to announce that Alex Tristram has today joined the Board as Finance Director.
Alex, who joined Xeros as Group Financial Accounting Manager in January 2018, was appointed Director of Finance (non-board level) and Company Secretary in March 2023.
Prior to joining Xeros, he was Group Accountant and Finance Director of the Alternative Energy Division at Pressure Technologies PLC, where he also held the position of Company Secretary.
Alex is a Chartered Accountant, having qualified at PWC in 2013.
Klaas de Boer, Chairman of Xeros, said:
"We are delighted to welcome Alex to the Board. He has played a key role in the transition of the business to the licensing model and helped us navigate some very challenging economic conditions during the pandemic.
"Since becoming Director of Finance last year, he has demonstrated strong leadership and financial acumen which will continue to benefit the Group as we progress the commercialisation of our technologies."
Further information relating to Alex Tristram
The following information regarding the appointment of Alexander William Roger Tristram, aged 37, is disclosed under Schedule 2(g) of the AIM Rules for Companies:
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Current directorships and/or partnerships: |
Former directorships and/or partnerships (within the last five years): |
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Lenny's Legacy (Trustee, registered charity) |
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There is no further information to be disclosed in relation to the director appointment pursuant to Rule 17 and Schedule 2, paragraph (g) of the AIM Rules.
Enquiries
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Xeros Technology Group plc Neil Austin, Chief Executive Officer Alex Tristram, Director of Finance
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Tel: 0114 269 9656 |
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Cavendish Capital Markets Limited (Nominated Adviser and Broker) Julian Blunt/Teddy Whiley, Corporate Finance Andrew Burdis/Sunila de Silva, ECM
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Tel: 020 7220 0570 |
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Belvedere Communications Cat Valentine Keeley Clarke |
Mob: 07715 769 078 Mob: 07967 816 525 |
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About Xeros
Xeros has developed patented and proven, industry-leading technologies which reduce the environmental impact of how industries make and care for clothes.
The traditional wet processing methods used in industrial and domestic laundry and garment manufacturing consume billions of litres of fresh water and large amounts of energy and chemicals, as well as damaging and weakening clothing fibres and creating rising levels of environmental pollution. It is estimated that washing machines contribute 35% of the 171 trillion microplastic particles in the ocean.
A range of actors, including consumers, the media NGOs and regulators are exerting pressure on these industries, with legislative action beginning to be taken.
Xeros' three main technologies, Filtration, Finish, and Care, facilitate garment manufacturers, industrial laundries, domestic washing machine manufacturers and consumers, to reduce their environmental impact, whilst also significantly improving efficiency in the process.
Xeros' model is to generate revenue from licensing its technologies, generating royalties and the sale of consumables. Currently there are 8 agreements in place. The addressable markets in Filtration, Finish and Care are estimated to be valued at £350m p.a., £132m p.a. and £3bn p.a. respectively.