LONDON (Alliance News) - Xeros Technology Group PLC on Wednesday said it has signed two new forward channel partnership deals which will allow it to enter the Canadian, Caribbean and Latin American markets.
Xeros has developed washing machines that use polymer beads in the washing process, which it claims reduces the need for cleaning powders and liquids as well as water and energy, while achieving good cleaning results.
Under the first deal, the company has signed an agreement with Michael St Claire Fine Cleaners, a dry cleaning and laundry company, which will allow the company to enter the Canadian market. Michael St Claire provides services to a large proportion of the hospitality industry in Vancouver, Xeros said.
Th company has also signed a deal with Worldwide Laundry Inc, a laundry equipment, parts and supplies companies, to sell its polymer bead cleaning laundry systems. This will given the group access to the Caribbean and Latin American markets. Xeros said both of these markets offer significant growth opportunities given the increased demand for ecologically-sustainable but commercially-viable products amid severe drought conditions and rising energy prices.
No financial details were disclosed on either of the deals.
"We are hugely encouraged by Xeros' expansion internationally, further evidencing the relevance and increasing acceptance of Xeros' near-waterless and energy-saving cleaning solution in geographic markets that can no longer ignore issues around water scarcity and need for energy conservation," said Bill Westwater, Xeros' chief executive.
Shares in Xeros were up 3.2% to 243.45 pence in early trade.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Xeros Tech (XSG)