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LONDON (Alliance News) - Xeros Technology Group PLC on Thursday said it had signed an eight-year contract with laundry service provider eLaundry.com, to provide washing machines for its on-demand service.
Xeros, which has developed washing machines that use polymer beads in the washing process to reduce the need for cleaning powders and liquids, water and energy, said the deal is expected to be worth around USD1.0 million over the course of the eight years.
Under the contract, Xeros will provide and service eight washing machines for the New York-based laundry provider, under its Sbeadycare package. eLaundry.com currently processes 3.6 million pounds of laundry per year, offering free pick up and delivery of items.
"This is a substantial long-term contract and further evidence that customer momentum is continuing to build in our commercial laundry business. Our Sbeadycare service agreements provide customers with the security of long term support and planned preventative maintenance. They also provide us with visibility of forward turnover and contribution," Xenos Chief Executive Mark Nichols said.
Xeros shares were up 2.0% at 184.79 pence on Monday morning.
By Hannah Boland; hannahboland@alliancenews.com; @Hannaheboland
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