30 May 2024
Xeros Technology Group plc
('Xeros" or the "Company")
Notice of AGM and Posting of Annual Report
Xeros Technology Group plc (AIM: XSG), the creator of technologies that reduce the impact of clothing on the planet, announces that its Annual General Meeting ("AGM") will be held on Tuesday, 25 June 2024 at 10.00 am, at the offices of Squire Patton Boggs (UK) LLP, 60 London Wall, London, EC2M 5TQ.
The Annual Report and the Notice of the AGM will be posted to shareholders later today. Copies of these documents will also be available on the Company's website:
http://www.xerostech.com/investor/resultsandreports/.
Enquiries
| Xeros Technology Group plc Neil Austin, Chief Executive Officer Alex Tristram, Finance Director
| Via Belvedere | |
| Cavendish Capital Markets Limited (Nominated Adviser and Broker) Julian Blunt/Teddy Whiley, Corporate Finance Andrew Burdis/Sunila de Silva, ECM
| Tel: 020 7220 0570 | |
| Belvedere Communications Cat Valentine Keeley Clarke | Mob: 07715 769 078 Mob: 07967 816 525 | |
About Xeros
Xeros Technology plc 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.
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