Xeros Technology Group, the company behind the polymer-based bead technologies that have come through extensive testing in tanneries, has published financial results for the period until December 31, 2016. Because its previous results were for the period up to July 31, 2015, and the company changed its reporting period since then, these results cover a 17-month period.
Over those 17 months, Xeros earned sales revenues of £2.5 million. It said that it has filed seven new patents since the start of 2017.
Specific to its work with the tanning industry, Xeros announced nothing new on publishing its results. It reiterated that it has successfully completed “multiple-scale trials” in retanning and dyeing, has signed heads of terms with specialist supplier of automotive and aircraft leather Wollsdorf Leder in Austria and has trials planned with four additional European tanneries.
Chief executive, Mark Nichols, said: “Over the past 17 months, we have achieved major milestones in our technology development and its commercialisation. We now have strong evidence that we have the capacity to deliver sustainability, performance and economic benefits across three world scale industries: cleaning, tanning and textiles. Our scope and strategy is now fixed: 2017 will be a year of execution, in which we significantly progress the commercialisation of our highly disruptive, innovative technology.”
Information courtesy of Leatherbiz