Xeros Technology Group plc announced the signing of a technology license and distribution agreement for its Garment Finishing technology with KRM Tekstil Boya San. Tic Ltd. Under the terms of the 10-year, worldwide non-exclusive Agreement, KRM, which will act as a global distributor for Yilmak Makine, is licensed to distribute and sell machines manufactured by Yilmak incorporating Xeros' proprietary XDrumTM and XOrbTM technology for use in denim processing, garment finishing and garment dyeing processes across Yilmak's full range of garment finishing machines. The Agreement allows Xeros to significantly increase its market access into new territories including Europe, Brazil and Mexico as well as strengthen its current access into Asia.

The Agreement has the potential to deliver substantial revenues over the 10-year term. The textile machinery market is estimated to be worth $52 billion by 2033. Approximately 2 billion pairs of jeans are manufactured globally every year and Xeros' technology significantly reduces the volume of water, chemistry and cycle time used in the finishing processing of raw denim jeans into consumer products.

Under the terms of the Agreement, Xeros will receive a royalty per XDrumTM machine sold by KRM as well as supplying it with XOrbs.