BOCA RATON, Fla., May 26, 2022 (GLOBE NEWSWIRE) -- Xeriant, Inc. (OTCQB: XERI) (“Xeriant” or “The Company”), an aerospace company dedicated to Advanced Air Mobility and associated specialty chemicals and materials, announced today it has completed the critical pre-certification testing of its eco-friendly Retacell® flame retardant on synthetic fabrics, the most common of which are derived from polyester, polyamide, polyethylene and polypropylene and produced on highly specialized equipment using various nonwoven extrusion and bonding techniques. These polymer-based textiles have been widely adopted for their cost-effectiveness and durability, and are found in carpeting, upholstery and filtration products. Many of the applications, particularly transportation interiors and home furnishings, are regulated by strict flammability standards and often employ flame retardants suspected of being toxic to human health and the environment. Recently, the EU took steps to ban up to 12,000 toxic substances, including flame retardant chemicals, driving the demand for eco-friendly alternatives like Retacell.
“We are pleased with the progress our team has made in developing textile applications for Retacell. In initial tests, Retacell has been successfully applied to the polymeric material in the finishing process as a surface treatment spray. We will be presenting these results to a global textile manufacturer to ensure that the modified material meets their performance specifications as they phase out toxic flame retardants. The next technological iteration will be creating a Retacell bulk additive that can be incorporated during compounding, potentially reducing the overall manufacturing costs,” commented Keith Duffy, CEO of Xeriant.
The global synthetic textiles market size was estimated at $60 billion USD in 2020 and is projected to reach $100 billion USD by 2028, according to a March 2021 report by Grand View Research. The same research firm values the global flame retardant market at $7.5 billion USD in 2020, which is forecasted to grow to $13.8 billion USD by 2028, based on a November 2021 press release.
About Xeriant, Inc.
Xeriant, Inc. (d.b.a. Xeriant Aerospace) is an aerospace company dedicated to the emerging aviation market called Advanced Air Mobility (AAM), the transition to eco-friendly on-demand flight, and is partnering with and acquiring strategic interests in visionary companies that accelerate this mission. Xeriant is focused on the development and deployment of next-generation electrically powered aircraft capable of vertical takeoff and landing (VTOL), breakthrough technologies and advanced materials which can be successfully integrated and commercialized, and the critical infrastructure components needed to support operations. Xeriant is located at the Research Park at Florida Atlantic University in Boca Raton, Florida adjacent to the Boca Raton Airport.
For more information, please go to www.xeriant.com.
SAFE HARBOR FORWARD-LOOKING STATEMENTS
In connection with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Xeriant, Inc. is hereby providing cautionary statements identifying important factors that could cause our actual results to differ materially from those projected in forward-looking statements (as defined in such act). Any statements that are not historical facts and that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, indicated through the use of words or phrases such as “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimated,” “intends,” “plans,” “believes” and “projects”) may be forward-looking and may involve estimates and uncertainties which could cause actual results to differ materially from those expressed in the forward-looking statements. These statements include, but are not limited to, our expectations concerning our ability to attract investors.
We caution that the factors described herein could cause actual results to differ materially from those expressed in any forward-looking statements we make and that investors should not place undue reliance on any such forward-looking statements. Further, any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of anticipated or unanticipated events or circumstances. New factors emerge from time to time, and it is not possible for us to predict all such factors. Further, we cannot assess the impact of each such factor on our results of operations or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.
This press release does not constitute an offer of any securities for sale.
Xeriant, Inc.
Investor Relations Dept.:
(561) 491-9595
IR@xeriant.com
www.xeriant.com
