Washing machine pioneers count heavy cost of research and marketing

Post by Tom Williams on 24th October 2014 in General industry, Laundry, Technology

Washing machine pioneers count heavy cost of research and marketing

This was despite revenue at Xeros Technology Group growing by nearly five times, as stores and other retailers in the US showed growing interest in its cleaning machines, pictured.

Its losses widened due to a rise in the costs associated with that push, according to official London Stock Market filings.

As a result, the company was £6.8million in the red.

However, the South Yorkshire-based company saw its revenue more than quadruple, as a result of installing a growing number of its prototype machines.

It currently has 37 either in place or committed in the United States, and seven in Europe. This total is expected to double to more than 80 by the end of this year.

Among those taking the machines to date have been a number of professional dry cleaners, fitness centres, and the American armed forces.

As we reported back in May, Xeros also picked up a top design award from the UK’s universities recognising it as one of the best projects to have emerged from their labs in the previous 12 months.

One of the five biggest hotel companies in the world is also in talks to take a number of the machines, which clean using polymer bead technology, the company also told city analysts.

Chief executive Bill Westwater said the company would continue to sell the machines itself, rather than licence the technology to other manufacturers.

"In 2015, we will be focused on extending our installed base in the US with existing and new customers, geographic expansion in commercial laundry, product development and continued innovation in bead cleaning," Xeros chairman John Samuel said in a statement.

Related articles: