BOCA RATON, Fla., 28 Jan 2021 (GLOBE NEWSWIRE) – Xeriant, Inc. (OTC PINK: XERI), a new aerospace technology holding company, today announced that its strategic alliance partner, Xeriant Europe sro, has signed a purchase agreement for XERI lubricants products in Australia. The sales contract follows the successful testing of XERI’s revolutionary anti-friction “green” lubricant on an Australian brand electric powered scooter.
The contract between Xeriant Europe sro, based in Prague, Czech Republic, and Fatboy Scooters Australia, based in Queensland, Australia, outlines a minimum annual purchase requirement of 4,000,000 CZK ($ 186,000 USD) of XERI lubricant for use in its product line. Fatboy Scooters and electric bicycle and scooter repair and maintenance facilities. This scooter is also sold in Europe.
“XERI lubricants have been applied to nearly every mechanical component of our scooters, from the bearings to the brake calipers, with extraordinary results. We tested the XERI-MC and XERI-L on the main drive motor and found reduced noise, smoother operation and increased power due to less friction between parts, which has lowered battery consumption and increased the range and speed of the scooter. With our waterfront location, XERI lubricants have maintained a tipping point where rust can start. We use XERI products exclusively in our premium scooter line, in our workshops, and for other equipment and vehicles, and we are very impressed, ”commented Fatboy Scooters Australia CEO, Paul Milburn.
Xeriant Aerospace and Xeriant Europe have teamed up to procure and secure environmentally responsible high potential technology and products in the Czech Republic and are completing the acquisition of Xeriant Europe by Xeriant Aerospace. Xeriant Europe sro recently launched a next-generation metal humidifier and coolant line under the XERI-MC and XERI-L brands, which are in the process of being tested and sold worldwide to a wide variety of industries, including aerospace, automotive, energy, manufacturing and maritime.
“Our sales of XERI environmentally friendly lubricants in Australia are testament to their effectiveness and demonstrate their potential as a major player in this growing segment of the lubricants market. We plan to visit the Fatboy Scooters manufacturing plant in China to discuss the use of our XERI-MC and XERI-L lubricants in the fabrication and assembly process, ”said Henry Biza, CEO of Xeriant Europe.
According to a 2019 study by research firm Future Market Insights, the size of the global two-wheeled lubricant market was $ 13.7 billion in 2018 and is expected to grow by an average of 4 percent per year for the period from 2019 to 2029. The emergence of electric-powered vehicles Two-wheelers – which include motorbikes, scooters, mopeds and bicycles, as the main mode of transportation in developing countries – have been increasing rapidly, especially in cities with traffic problems. The South Asia and Oceania region is expected to account for more than half of the total global market share for two-wheeled lubricants by the end of the forecast period. The Oceania region includes 14 countries, including Australia, Papua New Guinea and New Zealand. Manufacturers are investing heavily in developing technologies that not only ensure better fuel efficiency and emissions, but also maintain high friction hardware protection and durability.
“Our goal with this exclusive licensing agreement is to generate short-term income and profitability, each with enormous potential. The XERI sustainable nanotechnology lubricants brand continues to demonstrate its effectiveness in a wide variety of applications. We are looking forward to announcing the successful results of testing other XERI anti-friction formulas, ”said 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, as well as supplying spare parts, batteries, tires for Fat Tire, City Co-Co and Fatboy Scooters from the electric scooters, bicycles and mopeds in its facilities.
About Xeriant Europe
Xeriant Europe sro, headquartered in Prague, Czech Republic, was founded with the aim of uncovering leading edge green technologies with aerospace applications, particularly from the Czech Republic, and promoting it in world markets, especially in the US. The focus of the company is on unique products that are already being sold or are approaching commercialization.
Xeriant, Inc. (dba Xeriant Aerospace) is a holding and operating company focused on the acquisition, development and commercialization of revolutionary environmentally friendly technologies with applications in space, including innovative aircraft concepts targeting emerging opportunities in the aviation industry. In 2019, Xeriant acquired a unique, scalable and multipurpose VTOL antenna platform called Halo, which is protected by extensive utility patents. Xeriant is located in Research Park at Florida Atlantic University in Boca Raton, Florida, adjacent to Boca Raton Airport. The company is an OTC Market public company traded under the stock symbol, XERI.
For more information, please visit www.xeriant.com
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