Xeros Technology

Cavendish is pleased to announce a £5.5 million placing, subscription and retail offer for XEROS Technology Group plc securing vital funding to drive forward their commercialisation strategy.

Xeros has developed patented and proven, industry-leading technologies which reduce the environmental impact of how industries make and care for clothes. The fundraising proceeds will be used to strengthen Xeros’ balance sheet, enable execution of current contracts, and provide working capital and contingency as Xeros advances its commercialisation efforts and the drive to independent cash generation.

Neil Austin, CEO of Xeros, stated:

“Our technology solutions drive significant cost, energy, and water efficiencies for our customers while reducing pollution in both the manufacture and laundering of clothing. The fundraise puts the group in the strongest possible position to execute its commercialisation strategy, which is focused around high-margin license fees and recurring consumable revenue. I would like to take this opportunity to thank investors for their continued support at this exciting time for Xeros.”

Julian Blunt, Corporate Finance Director at Cavendish, commenting on the placing said:

“We’re delighted to have supported Xeros in securing this vital funding, enabling them to drive forward their commercialisation strategy. We look forward to the continued development of their sustainable technologies.”