Grant to boost Xeros plans
Xeros is to use a £250,000 grant to accelerate the development of its environmentally-friendly domestic laundry machine.
The University of Leeds spin-out said the cash from the Technology Strategy Board, the highest amount that can be awarded, will be match funded by shareholder funds following a private equity funding round in 2011.
Using nylon polymer beads, Xeros has established a process that uses less water, energy and detergent than conventional washing systems.
The machine was named second in the top 50 "2010 Best Inventions" by TIME magazine.
Bill Westwater, chief executive of Xeros, said: "We are delighted that the Technology Strategy Board has awarded a significant grant to Xeros. Together with our own shareholder funding it will enable Xeros to accelerate our plans for the domestic market place.
"This has long been part of our business plan. If the application of our technology in this market matches the proven viability of our large size machines in the commercial laundry, we are one step closer to our ultimate goal, namely to convert the world of aqueous washing to Xeros bead cleaning."
