Xeros Technology Group PLC (AIM:XSG) this week impressed investors with an upbeat trading update, and CEO Neil Austin joined the Proactive studio to tell us all about it.
Austin highlighted that Xeros is currently engaged in a tech verification process with four of the world's top ten washing machine manufacturers, moving closer to potential joint venture agreements (JVAs) and commercialization in early 2026.
Austin also discussed a letter of intent with a global consumer electronics brand for Xeros’ XF3 external microfiber filter technology.
Here we take a closer look at what was discussed.
Proactive: Joining me is Xeros Technology Group PLC CEO, Neil Austin. Neil, very good to meet you. You're out with a trading update this week and news of potentially transformational discussions.
Before we delve into those, for viewers not familiar with the company, tell us what you do.
Neil Austin: Sure, Stephen. Thank you. In a nutshell, at Xeros, we consider ourselves the future of laundry. In a basic sense, we introduce new and effective ways to advance industries that use large rotating drums with lots of water and energy - primarily the laundry sector.
This includes domestic washing machines, large commercial laundry machines used in hotels and dry cleaners, and even the final stages of garment manufacturing.
Many people don’t realize that every single piece of clothing goes through a final laundering phase.
Our core technology, Care Fabric Technology, is focused on innovating in this space.
Proactive: It looks like interest in your fabric care technology is really gaining momentum. You released a trading update yesterday, including news of a letter of intent with a major electronics distributor. Could you tell us more about that?
Neil Austin: Yes. I’ve been with Xeros for just over two years now, coming from the appliances industry. I’ve always believed that the key opportunity for this business is globalization.
Our technology has the potential to transform the industry.
A major shift in the industry is the decline of fast fashion. Consumers are frustrated that their garments don’t last long, and major washing machine manufacturers see this as an opportunity.
If they can extend garment life, that’s a strong selling point - exactly what Xeros technology enables.
We've been working hard to build relationships with major washing machine brands, and I’m pleased to say that we are now in a tech verification process with four of the world's top ten washing machine manufacturers.
This process involves integrating our technology into their machines to demonstrate the benefits. Once completed, we expect to move to joint venture agreements (JVAs), which will lead to commercialization.
We announced yesterday that a European manufacturer has joined this process. Additionally, one of our North American partners and another global company are very close to signing JVAs, aiming for commercialization in early 2026.
It really feels like this is the year for Xeros to fulfill its potential.
Proactive: So we could see your XF3 External Microfibre Filter in washing machines at major retail outlets soon?
Neil Austin: Yes. That was the second big announcement. Another part of our technology focuses on microfiber pollution.
Most people are aware of microplastics, but they don’t realize that 35% of all microplastic pollution in oceans comes from laundry. The washing process releases microfibers that flow into wastewater and, ultimately, into the ocean.
Back in September, we signed a manufacturing and distribution deal with Donlim Xinbao, one of the world’s largest consumer electronics manufacturers.
Yesterday, we announced that a global electronics brand has agreed to take our XF3 microfiber filtration device when it enters production this summer.
We are also in serious discussions with additional partners in North America, Southeast Asia, and Europe.
Proactive: What else does 2025 hold for Xeros?
Neil Austin: Beyond executing these key deals, we are also advancing our Finish technology, which improves garment manufacturing processes.
We have a licensing agreement with YILMAK Makina, the world’s largest denim processing company, and we’re in the final stages of launching commercial operations with them.
By the end of this year, our technology will be in place across garment manufacturing, commercial laundry, and domestic washing machines, covering the full life cycle of clothing.
It’s an exciting time for Xeros, and we are very close to achieving our goals.
Proactive: Neil, I hope you’ll keep us posted on your progress.