Xeros Technology shares surge on XFiltra patent

Xeros Technology shares surge on XFiltra patent

Developer and provider of water saving and effluent reduction technologies Xeros Technology Group plc (LON: XSG) announced today that the World Intellectual Property Organisation had published its patent application for microfibre filters suitable for domestic washing machines.

Xeros said the device had been trademarked under the name XFiltra and that its design can be licenced by any domestic washing machine manufacturer, with the function of reducing microfibre pollution during clothes washing.

The device is a combined filter, pump and de-watering unit designed to be an ‘integral part of domestic washing machine’ – XFiltra can be incorporated into any front-loading washing machine during the manufacturing process, the Company said.

Xeros Technology comments

In its statement, the Company shared more information about their XFiltra technology,

“Washing clothes containing synthetic fibres such as polyester and nylon has been identified as the single biggest source of primary microplastics released into the oceans every year with as many as 700,000 microfibres released into the environment from a single domestic wash cycle. “

“XFiltra is the world’s first operationally effective and commercially viable filter to address this issue.”

Speaking on the update, Compnay CEO Mark Nichols added the following comments,

“As part of our objective to radically improve the sustainability of water intensive industries, we made a commitment in 2017 to the UN Ocean Conference that we would produce a solution to the issue of microplastic pollution from domestic laundry. XFiltra fulfils that commitment.”

XFiltra is a low-cost solution to one of today’s most pressing environmental issues: plastic pollution. XFiltra captures up to 99% of all microplastic particles shed from clothing during a domestic laundry cycle.”

“Solving the issue of microplastic particles entering the environment from the clothes will require action at many points of the supply chain including washing machines. We are now engaged in meaningful discussions with washing machine manufacturers, retailers and clothing brands regarding XFiltra – this represents a giant step towards reducing the largest source of primary microplastic pollution in the ocean.” 

Investor notes

The Company’s share price spiked 44.90% or 2.82p to 9.1p a share 10/07/19 16:04 GMT.

Elsewhere in the tech sector; MiriAd Advertising plc (LON: MIRI), Zoo Digital Group plc (LON: ZOO), Vela Technologies Plc (LON: VELA),  Remote Monitored Systems PLC (LON: RMS), and Tekmar Group Plc (LON: TGP), provided trading updates.