Joint Development Agreement secured with leading Hong Kong garment manufacturer
Xeros Technology Group has signed a Joint Development Agreement (‘JDA’) with one of the world’s largest apparel makers to trial the Group’s sustainable, water-saving technologies in garment production.
The Joint Development Agreement ('JDA') with Dongguan Crystal Knitting and Garment Co. Ltd, a subsidiary of Crystal International Group Limited, the world's largest apparel maker by volume, marks the Company’s first agreement in textiles.
The scope of the JDA is to prove the technical and commercial benefits of Xeros' proprietary XOrb™ and XDrum™ technologies in garment production.
The development and testing programme is scheduled to complete before the end of 2019. If successful, the agreement allows for both parties to discuss commercialisation terms for the development and future deployment of Xeros' technologies across a broad range of products.
We have now secured third party endorsement across all our three divisions - cleaning, tanning and now textiles.
Today's announcement is a major milestone in the application of our technology in one of the world's largest water consuming industries. Almost every garment produced in the world is subject to finishing techniques which consume vast amounts of water as well as chemistry, producing significant amounts of effluent in the process.
We expect our agreement with Crystal International to prove out, at scale, the considerable improvements in sustainability and cost delivered by our technologies and the multiple ways in which they can be applied in the production of garments. We expect to sign further agreements with leading garment manufacturers during 2019.
Mark Nichols, Chief Executive of Xeros
The announcement comes after Xeros signed an exclusive agreement to develop and license its domestic and commercial washing machine technologies to IFB Industries Limited ('IFB'), India's leading domestic appliance and commercial laundry equipment supplier in South Asia.