Xeros Technology Group plc – Signs 10 year contract with leading European tannery

Xeros Technology Group plc has signed a 10 year contract with Wollsdorf Leder Schmidt & Co. Ges.m.b.h (‘Wollsdorf’) to convert its re-tanning operations in Austria to use Xeros’ patented polymer technology. This contract follows the previously announced heads of terms in January 2017.

Wollsdorf, which was awarded Global Tannery of the Year in 2014 by World Leather magazine, primarily produces and exports premium quality leather to the luxury leather market, including to manufacturers of a number of leading car brands.

The contract follows extensive trials which demonstrated material reductions in process inputs and effluent production, radically improving the sustainability of production whilst maintaining high quality leather output.

Further scale trials have either been completed or are in progress with an additional five European tanneries as part of the commercialisation of Xeros’ innovative technology across the leather tanning industry. The tanneries at which these trials are being conducted produce leather for a range of global markets, including footwear, fashion and automotive.

Mark Nichols, Chief Executive of Xeros, said: “Our contract with Wollsdorf confirms that we have a viable technology for the tanning industry that can be incorporated simply into the production process. In partnership with our customers, we can radically improve sustainability whilst sharing in the value our innovative technology creates.

“The considerable interest we are witnessing from many significant players in the leather industry is a strong indication of the potential to rapidly increase the deployment of our technology in what is a global scale industry.”