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Xeros Tech Grp plc : Second Symphony Project Agreement

  •   08 January 2018

RNS Number : 1664B

Xeros Technology Group plc

08 January 2018


 8 January 2018


Xeros Technology Group plc


Second Symphony Project development agreement signed


Xeros Technology Group plc (AIM: XSG, 'Xeros'), the developer and provider of polymer based technologies with multiple commercial applications, has signed a second Symphony Project development agreement with another leading manufacturer of commercial washing machines ('the OEM'). 


The OEM is a leader in commercial laundry machines with a significant presence in many major markets across the world. Xeros will incorporate its open source technology in the OEM's machine for the purposes of technical validation and testing. Following the testing phase the parties anticipate the commencement of commercial negotiations.


In April 2017, Xeros launched Symphony Project, providing open source access to its innovative polymer technology to manufacturers of commercial washing machines. At the Clean Show in Las Vegas in June 2017 Xeros demonstrated its first fully working prototype and in September 2017, Xeros announced its first Symphony agreement with a major global OEM.


Symphony Project will enable manufacturers to sell their own-branded products as well as receiving a share in the long-term savings that the Xeros technology delivers.


The development of Symphony Project is in line with Xeros' strategy to commercialise its technology with partners, who already have strong market positions.  It will enable the Group to make a financial return on its intellectual property and know-how with relatively low capital intensity.


A website providing a full explanation of Symphony Project is available here:


Mark Nichols, Chief Executive, said:


"This represents a further significant milestone for our Cleaning Technologies business. The scale and market presence of another OEM partner demonstrates the industry's increasing understanding and acceptance of our technology.


"With a proven technology, and growing demand for the sustainability, performance and economic benefits our technology delivers, Symphony Project will enable us to significantly accelerate the commercialisation of our technology."




Xeros Technology Group plc

Mark Nichols, Chief Executive Officer

Paul Denney, Chief Financial Officer

Tel: 0114 321 6328




Jefferies International Limited (Nominated Adviser and Joint Broker)

Simon Hardy / Will Soutar


Tel: 020 7029 8000

Berenberg (Joint Broker)

Chris Bowman / Ben Wright / Amritha Murali


Tel: 020 3207 7800

Instinctif Partners

Adrian Duffield / Helen Tarbet / James Gray


Tel: 020 7457 2020

Notes to Editors

Xeros Technology Group plc (LN: XSG) is a platform technology company that is reinventing water intensive industrial and commercial processes by reducing water and chemistry usage with its polymer technologies.  Its patented technologies have the capacity to provide material economic, operational and sustainability improvements that are unattainable with traditional processes.  The Group is currently exploiting its intellectual property in three areas: Cleaning Technologies, Tanning Technologies and Textile Technologies. Xeros has a number of agreements in place with such international organisations as BASF, Hilton and Wollsdorf Leder.


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