The boss of Rotherham-based clothing fibre filtration specialist Xeros Technology Group has said the business is capable of breaking even in 2024.
New results for the Leeds University spin-out show EBITDA losses widened from £6.4m to £7.4m in 2022 but chief executive Neil Austin, who joined the Advanced Manufacturing Park-based business part way through the year, said that while near term expectations are lower than previously envisaged, Xeros was on a sounder footing.
Xeros specialises in filtration and care technologies, including its XFilter product which captures microfibres - tiny fragments of clothing and textiles - in washing machines. The firm said it had won two further licences for the tech and had secured a trail with a major European retailer and its denim manufacturing partner for Xeros' Finish tech, which reduces the amount of water used in the production of jeans.
