Xeros Technology Group PLC (AIM:XSG) rose 7% on Tuesday after announcing a third licensing agreement for its filtration tech, designed to capture microfibres in washing machines.
The new non-exclusive agreement is with a “global component manufacturer” with links to Samsung, Panasonic and LG, AIM-listed Xeros said in a statement, and will see it paid per filter sold over the next 10-years.
It follows two other deals signed in June and earlier this month for the washing machine filters, which Xeros claims capture over 90% of microfibres something to be required by law in France from 2025.
Xeros added the deal would “deliver substantial revenues” over the coming years, prompting its shares to rise to 4.38p.