Xeros says the end of the development phase is in si - leatherbiz: Lea Leatherbiz

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Xeros says the end of the development phase is in sight

30/04/2019
Xeros Technology Group, a developer of water-saving technologies with applications in industries including leather, achieved revenues of £3.5 million in 2018. While this figure is higher by £1.3 million than its revenues in 2017, the group is still running at a loss.

However, Xeros said on releasing the results that its costs are “rapidly reducing” as it nears the end of the development phase for its technology.

Xeros began examining ways of using polymer beads to reduce the amount of water required to process hides into leather in 2014.

At the start of 2017, it confirmed a deal for Wollsdorf Leather to begin using its technology and a similar agreement with Mexican leather manufacturer Lefarc followed in 2018. Also in 2018, Xeros announced that it was rebranding its tanning division, which it now calls Qualus.

Chief executive, Mark Nicholas, said on announcing the figures for 2018: “We have achieved a number of major inflection points, with others expected to follow in 2019, each of which have the capacity to generate significant value. As we end the development phase, our cost base will continue to decline ahead of the implementation of the contracts we have won which are expected to generate high-margin revenues.”



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