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LONDON - Xeros Technology Group plc (AIM:XSG), known for its eco-friendly clothing care technologies, has announced that its Annual General Meeting (AGM) will take place on Thursday, June 19 at the offices of Squire Patton Boggs in London. The company has confirmed that the meeting will be held at 10:00 am local time.
In line with corporate governance practices, the Annual Report and Notice of the AGM have been dispatched to shareholders and are also accessible on the company’s website. Xeros Technology Group, which is listed on the AIM sub-market of the London Stock Exchange (LON:LSEG), has developed innovative technologies aimed at reducing the environmental footprint of clothing manufacturing and maintenance.
The company’s patented technologies address the significant environmental challenges posed by traditional wet processing methods in both industrial and domestic laundry settings, which are known to consume vast amounts of water, energy, and chemicals. These conventional methods also contribute to the weakening of clothing fibers and increasing levels of pollution, including a substantial share of the microplastic particles found in the ocean.
Xeros’ portfolio includes the Microfibre Filter, Laundry Care, and Garment Finishing technologies. These solutions offer a means for garment manufacturers, industrial laundries, and domestic washing machine manufacturers to lessen their environmental impact while also improving efficiency. The company’s business model revolves around licensing these technologies, from which it earns royalties and revenue from the sale of consumables. Currently, Xeros has eight licensing agreements in place.
The addressable markets for Xeros’ technologies—Microfibre Filter, Laundry Care, and Garment Finishing—are estimated to be worth £350 million, £3 billion, and £132 million per year, respectively. This indicates the potential scale and impact of the company’s innovations in the global market.
This news is based on a press release statement and further information about the company and its upcoming AGM can be found on Xeros Technology Group’s website.
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