Announcement
Xeros Tech Grp plc : Xeros completes tannery trials
RNS Number : 3061Y
Xeros Technology Group plc
16 May 2016
16 May 2016
Xeros Technology Group plc
Full scale trial of Xeros' technology in leather processing completed
Xeros Technology Group plc (AIM: XSG, 'Xeros' or 'the Group'), the innovative developer of patented polymer bead systems with multiple identified commercial applications, has successfully completed a full scale trial of its technology within a leading tannery.
The trial was part of a multi-phase joint development agreement with LANXESS Deutschland GmbH to advance the application of Xeros' patented polymer bead technology in the leather processing industry.
The full scale trial which was conducted by a leading independent tannery has shown that material reductions in water, chemistry and effluent are achievable by using Xeros' technology in the retanning and dyeing phase of leather processing. When Xeros' technology was applied to this phase of the process, the water used and the effluent generated were reduced by over 50%. The leather produced was judged to be of excellent quality in terms of look, feel, and handle.
The Group intends to continue further trials to determine the maximum potential of its technology in this field whilst simultaneously progressing its commercialisation plan.
Mark Nichols, Chief Executive of Xeros, said:
"This is an important development which hails a step change in the sustainability of the leather processing industry.
"This successful trial provides encouraging evidence of the momentum building across the Group's activities and demonstrates another application of our platform technology."
Note:
Leather processing involves four phases: beamhouse, tanning, retanning & dyeing and finishing. The trial just concluded focussed on the third phase in the process.
For further information, please contact:
Xeros Technology Group plc Via Instinctif Partners
Mark Nichols, Chief Executive
Chris Hanson, Chief Financial Officer
Jefferies International (Nominated Adviser and Joint Broker) Tel: 020 7029 8000
Simon Hardy / Harry Nicholas
Berenberg (Joint Broker) Tel: 020 3207 7800
Chris Bowman / Ben Wright / Amritha Murali
Instinctif Partners (Financial PR) Tel: 020 7457 2020
Helen Tarbet / James Gray
This information is provided by RNS
The company news service from the London Stock Exchange
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