IP GROUP Xeros expands partnership agreements, entering Canadian, Caribbean and Latin American commercial laundry and dry cleaning markets
Xeros Technology Group plc (AIM: XSG, "Xeros") the innovative developer of a patented polymer bead cleaning system with multiple identified commercial applications, announces that it has expanded its Commercial Laundry footprint into Canada, the Caribbean and Latin America, demonstrating growing acceptance of and demand for Xeros' polymer bead cleaning technology beyond the US Commercial Laundry market.
In Canada, Xeros has entered into a Forward Channel Partner agreement with Michael St. Clair Fine Cleaners, a dry cleaning and laundry specialist, under which Xeros' polymer bead laundry systems will be sold and serviced. Michael St. Clair services much of Vancouver's hospitality industry and has retail locations across the city.
This partnership will help bring Xeros' patented cleaning technology to the Canadian market, a country in which changing climate conditions and increased energy demand has given rise to nationwide initiatives to accelerate utility conservation efforts.
Xeros has also entered into a Forward Channel Partner agreement with Worldwide Laundry, Inc., a full service laundry equipment, parts and supplies company, to sell and service Xeros' polymer bead cleaning laundry systems. Worldwide Laundry, Inc. will be facilitating the delivery of Xeros cleaning solutions to the broader Caribbean and Latin American markets, both of which offer significant drivers for growth as severe drought conditions and rising energy prices are increasing demand for ecologically sustainable but commercially viable solutions.
The Caribbean islands are some of the most vulnerable countries in the world to water shortages. The impact of climate change is expected to raise the sea level significantly, increase salt-water intrusion, flooding and hurricanes, and decrease rainfall. Today, the islands are experiencing the worst drought conditions in five years. Puerto Rico, St. Lucia, and Cuba are all suffering drought and have implemented water conservation restrictions. In addition, according to Caribbean Development Bank (CDB), Caribbean electricity costs are approximately four times the average rate in North America.
Xeros Chief Executive Officer, Bill Westwater, commented:
"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.
"These agreements also demonstrate the success of our Forward Channel Partners programme, in which we create a broad sales and service network across the Americas of established laundry industry players.
"In a world that can no longer depend on traditional aqueous processes, Xeros offers unprecedented performance and value for customers."
For further information, please contact:
Xeros Technology Group plc www.xeroscleaning.com
Via Instinctif Partners
Bill Westwater, Chief Executive Officer
Chris Hanson, Finance Director
Jefferies International (Nominated Adviser)
Tel: 020 7029 8000
Simon Hardy / Harry Nicholas
Instinctif Partners
Tel: 020 7457 2020
Helen Tarbet / James Gray
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