BOCA RATON, Fla., Jan. 28, 2021 (GLOBE NEWSWIRE) -- Xeriant, Inc. (OTC PINK: XERI), a new aerospace technology holding company, announced today that its strategic alliance partner, Xeriant Europe s.r.o., has signed a purchase agreement for its XERI lubricant products in Australia. The sales contract follows the successful testing of XERI ’s revolutionary anti-friction “green” lubricant on an Australian brand of electrically-powered scooters.
The contract between Xeriant Europe s.r.o., based in Prague, Czech Republic, and Fatboy Scooters Australia, based in Queensland, Australia, outlines the terms of a minimum annual purchase of 4,000,000 CZK ($186,000 USD) of its XERI lubricants for use in its line of Fatboy Scooters and its electric bicycle and scooter repair and maintenance facility. These scooters are also sold in Europe.
“XERI lubricants have been applied on virtually every mechanical component of our scooters, from the bearings to the brake calipers, with great results. We have trialed XERI-MC and XERI-L in the main drive motor and found a reduction in noise, smoother operation and an increase in power due to less friction between parts, which has lowered battery consumption and increased the scooters’ range and speed. With our beachside location, XERI lubricants have preserved critical points where rust may start. We use XERI products exclusively on our premium line of scooters, in our repair shop, and for other equipment and vehicles, and are super impressed,” commented Fatboy Scooters Australia CEO, Paul Milburn.
Xeriant Aerospace and Xeriant Europe have been working together to source and secure high-potential environmentally responsible products and technologies in the Czech Republic and are finalizing the acquisition of Xeriant Europe by Xeriant Aerospace. Xeriant Europe s.r.o. recently launched a line of next-generation metal conditioners and lubricants under the brand names XERI-MC and XERI-L, which are in the process of being tested and sold worldwide to a broad range of industries, including aerospace, automotive, energy, industrial manufacturing and maritime.
“The sale of our XERI eco-friendly lubricants in Australia is a testament to their effectiveness and indicates their potential as a major player in this growing segment of the lubricants market. We are planning a visit to the Fatboy Scooters manufacturing plant in China to discuss incorporating our XERI-MC and XERI-L lubricants in the fabrication and assembly process,” stated Henry Biza, CEO of Xeriant Europe.
According to a 2019 study by research firm Future Market Insights, the global two-wheeler lubricants market size was $13.7 billion in 2018 and is forecasted to grow an average of 4 percent annually for the period from 2019 through 2029. The emergence of electrically-powered two-wheeled vehicles — which includes motorcycles, scooters, mopeds and bicycles, as a primary mode of transportation in developing nations — has increased considerably, particularly in cities with traffic-related issues. The South Asia and Oceania regions are expected to account for more than half of the total share of the global two-wheeler lubricants market by the end of the forecast period. The Oceania region covers 14 countries, including Australia, Papua New Guinea, and New Zealand. Manufacturers are heavily investing in the development of technologies that not only ensure better fuel efficiency and emissions but also maintains high-friction hardware protection and durability.
“Our goal with the exclusive licensing agreements is to generate near-term revenue and profitability, each with enormous potential. The XERI brand of sustainable nanotech lubricants continues to demonstrate its effectiveness in a wide array of applications. We are looking forward to announcing the successful results from other tests of XERI’s anti-friction formulas,” stated Xeriant CEO, Keith Duffy.
About Fatboy Scooters Australia
Fatboy Scooters Australia is located in Queensland, Australia and imports a line of lithium battery powered electric scooters for distribution throughout Europe and Australia. The company also provides maintenance and repair services, and supplies spare parts, batteries, tires for Fat Tyre, City Co-Co and Fatboy Scooters brands of electric scooters, bicycles and mopeds at its facilities.
About Xeriant Europe
Xeriant Europe s.r.o., headquartered in Prague, Czech Republic, was founded with the purpose of uncovering leading-edge green technologies with applications in aerospace, primarily from the Czech Republic, and promoting them on the world market, especially in the U.S. The company’s focus is on unique products that are either already being sold or are close to commercialization.
About Xeriant
Xeriant, Inc. (d.b.a. Xeriant Aerospace) is a holding and operating company focused on acquiring, developing, and commercializing revolutionary, eco-friendly technologies with applications in aerospace, including innovative aircraft concepts targeting emerging opportunities within the aviation industry. In 2019, Xeriant acquired a unique, scalable, multi-purpose VTOL aerial platform called Halo, which is protected under a broad utility patent. Xeriant is located at the Research Park at Florida Atlantic University in Boca Raton, Florida adjacent to the Boca Raton Airport. The Company is an OTC Markets public company trading under the stock symbol, XERI.
For more information, please go to www.xeriant.com
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XERIANT, INC. CORPORATE
Investor Relations:
Matt Chipman
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IR@xeriant.com
www.xeriant.com