Xeros to clean clothes using little water
Xeros, the developer of a polymer bead cleaning system that uses little water, has announced its intention to float on the AIM stock exchange to speed up the roll-out of its technology.
The UK-based business was spun out of the University of Leeds’ textile department in 2006 and has patented a new way to wash clothes.
The process combines mechanical action and absorption, and reduces the consumption of water by 70%, says the company. It needs less energy and fewer chemicals throughout the cleaning process.
Xeros has raised in excess of £15 million from investors, including IP Group, Enterprise Ventures, the Entrepreneurs Fund and Invesco and hopes to raise between £30 million and £40 million by selling a third of the company on London-based AIM.
