Last checked at 18 Jun 2014 16:08
18 June 2014
Xeros Technology Group plc
("Xeros" or the "Company")
BOARD CHANGE
Xeros Technology Group plc (AIM: XSG), the innovative developer of a patented polymer bead cleaning system with multiple identified commercial applications, announces that, as a consequence of stepping down from the Board of IP Group plc, Charles Winward, non-executive director, has resigned from the Company and will leave the Xeros board with immediate effect.
The board would like to thank Charles for his significant contribution to Xeros over the last four years and wish him well for the future.
In accordance with the Company's stated strategy to evolve the board over time, the appointment of a new independent non-executive director, with an industrial / commercial background, is expected to be announced in due course.
For further information, please contact:
Xeros Technology Group plc | Via Newgate |
Bill Westwater, Chief Executive Officer Chris Hanson, Finance Director | |
Jefferies International (Nominated Adviser) | Tel: 020 7029 8000 |
Simon Hardy Harry Nicholas | |
Newgate Communications (Financial PR) | Tel: 020 7680 6550 |
James Benjamin Madeleine Palmstierna Georgia Lewis | xeros@newgatecomms.com |
Further information on the Group can be found on the Company's website: www.xeroscleaning.com
About Xeros
Xeros has developed a patented polymer bead cleaning system with multiple identified potential commercial applications. The Group has targeted the commercial laundry market and has begun the roll-out of 25kg capacity washing machines which exclusively use Xeros' patented polymer bead cleaning system. In trials with customers, this system has been shown to achieve superior cleaning performance as well as material reductions in water, energy and chemical usages compared to conventional commercial laundry methods. The Xeros proprietary polymer bead cleaning system also reduces the carbon footprint of the entire laundry process. In addition to the commercial laundry market, the Group's polymer bead technology has a range of potential applications in other industries including domestic laundry, leather processing, garment finishing and metal cleaning. The Group is currently in various stages of development and preparation for commercialisation of other identified applications, the most advanced of which is domestic laundry.
On 30 April 2014, the Group won Bronze at the prestigious Edison Awards 2014 in San Francisco in the Energy/Sustainability category for its virtually waterless commercial laundry system and, on the same evening, the Group was named University Spin-Out of the Year at the New Energy & Cleantech Awards 2014 in London.