Xeros Tech Share News (XSG)

(Sharecast News) - Clothing and fabrics sustainability and economics technology company Xeros Technology Group announced on Wednesday that its licence partner in China, Jiangsu SeaLion Machinery Company, had launched its 'Hydrology' brand, comprising a range of commercial washing machines incorporating its 'XOrb' and 'XDrum' technologies.
The AIM-traded firm said Sea-Lion is the largest commercial washing machine manufacturer in China, with sales and service offices in each of the country's 30 provinces, and in cities such as Beijing, Shanghai, Chongqing and Shenzhen, serving customers in the hotel, industrial laundry, hospital, military and drycleaning markets.

It said Sea-Lion was positioning its Hydrology brand with the "most sustainable products" available in the market, capable of delivering "significant" water, energy and chemistry savings while extending fabric and garment life.

Xeros said China was a "large and attractive" market for its commercial laundry application, with the company's research indicating that around 27,000 commercial washing machines are sold across the country each year, with water rates increasing significantly for industrial users in many areas.

In line with the board's expectations, Xeros said it would receive a "mid-to-high" single digit percentage royalty for the machine sales, as well as royalties for the ongoing use of XOrbs by SeaLion's customers.

"This product launch represents the first deployment of our XOrb and XDrum technology platform in the commercial laundry market," said chief executive officer Mark Nichols.

"These technologies have been proven to greatly reduce resource consumption whilst bringing unparalleled cleaning and fabric care benefits."

Nichols said SeaLion's "long-standing commitment" to improving both the sustainability and economics of the laundry industry made it an "exemplary" licence partner for Xeros.

"Their Hydrology range of products will deliver a step change in performance in the commercial laundry industry and will help the world wear better."

At 1408 BST, shares in Xeros Technology Group were down 2.56% at 247p.