IFB To Purchase UK Firm’s Water-Saving Washing Machine Tech
In a recent move which was announced in the London Stock Exchange on 26th April, Xeros Technology Group has reached an agreement to form a coalition with India’s IFB. This agreement will enable the supply and sale of domestic and commercial washing machines running on Xeros’ innovative technology, by IFB Industries Ltd from 2020-2021.
IFB, said to be a front runner in the supply of laundry equipment and domestic appliances in South Asia recorded a 20 percent increase in sales of washing machines in the year 2018, with rapid growth recorded among India’s urbanized and affluent population. This massive record coupled with being listed on the National Stock Exchange of India placed them in pole position for this agreement.
The Chief Executive of Xeros, Mark Nicholas, in his statement, inferred that the agreement would be beneficial for the India, helping consumers cut down on the use of water, detergent and energy consumption, while concurrently increasing cleaning performance and garment life extension. He further said, “the IFB’s capabilities and market reach makes them a strong commercialization partner in a country where water demand is expected to increase by more than 60 percent over the next 30 years with some 80 percent of the current population already impacted by water scarcity”.
The Signed agreement which spans a 10-year period paves way for the introduction and marketing of Xeros’ water saving XOrb™ and XDrum™ technologies, as major components of IFB’s domestic and commercial sized washing machines.
The XOrb™ (Xeros Polymer Technology) consists of spheroidal shaped polymers which use a low level of water and chemistry to deliver a gentle mechanical action that removes dirt, stains and stray dyes in washing domestic, industrial and high-performance work wear. The XOrb™ technology is released into the wash cycle via the XDrum™ (Xeros In-Drum Technology). When a cycle is finished, the drum rotation is reversed and the XOrbs return to the rear of the machine, ready for the next cycle. These processes allow the use of fewer chemicals and less water, while still able to extend the life of fabrics resulting in generally reduced costs.
XOrb™ (Xeros Polymer Technology)
XDrum™ (Xeros In-Drum Technology)
According to Xeros, the licensing agreement comes with a one-off exclusivity fee which also includes the payments of further benefits dependent on achieved milestones during the growth phase. IFB will only have exclusive rights to market these products within the Indian market, and they will also have the opportunity to market in other South Asian countries on a non-exclusive basis. They will also be paying Xeros royalties based on sales revenues after the machines have been fully developed.
Xero has claimed the XOrb technology will transform washing machines forever by reducing water use in commercial machines by up to 80 percent and in domestic machines by up to 50 percent. We have so many reasons to look forward to 2020-2021, as this will also serve as the XOrb’s technology first foray into the market in a domestic washing machine.