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Xeros Technology ( (GB:XSG) ) has issued an update.
Xeros Technology Group plc has announced its full year results for 2024, highlighting a shift from development to commercial agreements. Key developments include the upcoming launch of their IFB domestic washing machine in India and a major launch with Yilmak Makina for garment finishing technology. The company has also secured a partnership with Russell Hobbs for their XF3 pilot production and is progressing with technical verifications for potential Joint Development Agreements. Despite a slight revenue decline, Xeros has reduced its EBITDA loss and cash outflow, with breakeven in sight for 2025. These advancements position Xeros as a significant player in sustainable laundry technology, with potential for global adoption.
More about Xeros Technology
Xeros Technology Group plc is a company that has developed patented technologies aimed at reducing the environmental impact of clothing care and manufacturing. Their primary products include Microfibre Filter, Laundry Care, and Garment Finishing technologies, which help reduce water, energy, and chemical usage in laundry processes. Xeros generates revenue through licensing these technologies, targeting markets valued at billions annually.
Average Trading Volume: 1,172,388
Technical Sentiment Signal: Sell
Current Market Cap: £7.03M
See more data about XSG stock on TipRanks’ Stock Analysis page.
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