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Xeros Technology Group PLC - Rotherham, England-based environmental technology firm - Says its partner IFB Industries Ltd, an India-based domestic and commercial washing machine manufacturer, has confirmed it will launch new premium domestic washing machines which are designed for large households and incorporating Xeros' Care technology in its Indian retail stores by the end of 2022.
Chief Executive Officer Neil Austin says: "We continue to work in partnership with IFB and the imminent launch of the 11 kilograms machine will enable consumers to use our proprietary technology in their home for the first time. This is an exciting milestone for Xeros as we continue to accelerate new licence agreements. Xeros is also confident of future developments in the rail sector, both in India and France as our technology is more widely used in commercial machines."
Adds that its financial guidance remains unchanged.
Current stock price: 3.94 pence, up 1.0% on Wednesday afternoon in London
12-month change: down 96%
By Xindi Wei, Alliance News reporter
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