10-year development and licencing agreement with IFB Industries for domestic and commercial washing machines
Xeros Technology Group has signed a major development and licencing agreement with the Indian company IFB Industries to incorporate Xeros’ unique water-saving XOrb™ and XDrum™ technologies into a range of IFB’s domestic and commercial washing machines.
IFB is the leading Indian company in the supply of both domestic appliances and commercial washing machines. The agreement is a major step for Xeros in commercialising its technologies and an exciting opportunity bringing Xeros technology to the domestic washing machine market.
Full details of the announcement can be found here
India is facing extreme water stress. A recent report suggested more than 600 million Indians face acute water shortages and 40% of the population will have “no access to drinking water” by 2030.
This agreement with IFB is another major milestone in the commercialisation of our cleaning technologies.
IFB ’s capabilities and market reach make them a very strong commercialisation partner in a country where water demand is expected to increase by more than 60% over the next 30 years with some 80% of the current population already impacted by water scarcity.
With this agreement, IFB’s customers will be able to reduce water, detergent and energy consumption whilst simultaneously benefitting from improved cleaning performance and garment life extension.
Mark Nichols, Chief Executive of Xeros