This machinery will increase NEXE's
production capacity for its Compostable
Keurig® Compatible Pods to over 50
million annually.
VANCOUVER, BC, Dec. 15, 2021 /CNW/ - NEXE Innovations
Inc. ("NEXE" or the "Company"), (TSXV: NEXE) (OTC Markets:
NEXNF) (Frankfurt: NX5), a leader in plant-based materials
manufacturing, is pleased to announce that it has completed its
Site Acceptance Test ("SAT") for its high-speed assembly, filter
forming and dosing automation equipment at its site in Surrey, BC, Canada.
As discussed in our news release dated November 3rd, we successfully completed our
Factory Acceptance Test ("FAT") on October
26, 2021 at our manufacturing partner's facility in
Europe. This is the first of two
custom machines that were ordered by NEXE in February 2020, pre-pandemic.
This high-speed automation was designed and engineered based on
NEXE's proprietary specifications for the Company's
Keurig®-compatible NEXE Pod. As standard automation in
the space was not sufficient to assemble our compostable polymers,
most of the proprietary processes were pioneered by NEXE. The
Company expects to receive the second proprietary high-speed
assembly, filter forming and dosing machine for
Keurig® compatible pods in calendar Q1 2022,
increasing NEXE's production capacity to over 100 million annual
Keurig® compatible pods.
"As we come to year end, we are ecstatic to announce that we
have completed a Successful site Acceptance Test on key equipment
which can provide an additional 50 million annual pod production
capacity" said Ash Guglani, President of NEXE. "We are now focused
on commissioning this equipment in Q1 2022 and await our end of
line packaging equipment to meet the market's demand for our
sustainable and fully compostable pods. As we enter 2022,
expect to hear more news on distribution and corporate updates as
to how we will backfill capacity with revenue."
"The SAT results prove that NEXE is able to consistently
produce our pods at a high rate while maintaining the performance
and taste profile that our customers demand from a superior pod.
This successful test demonstrates that NEXE's plant-based materials
can be assembled at production speed and proves the scalability of
the technology," added Guglani.
NEXE now has custom automation equipment for the production of
pods that are compatible with two-leading single-serve coffee
formats: Keurig® and Nespresso®
OriginalLine, allowing the Company to address a sizable portion of
the growing potential 60 billion per year coffee pod market. The
Company plans to continue to purchase additional equipment to
increase production capacity as required to fulfill growing
demand.
The single-serve coffee pod and capsule market was measured at
US$25.07 billion in 2020, and it is
projected to register a compound annual growth rate (CAGR) of 7.07%
from 2021-2026, according to a report from Mordor
Intelligence.1
Learn more about NEXE Innovations online at:
https://nexeinnovations.com/
Learn more about XOMA superfoods online at:
https://xomasuperfoods.com/
Learn more about NEXE Coffee online
at: https://nexecoffee.com/
*NEXE Innovations Inc. is not affiliated with, endorsed, or
sponsored by Keurig®. Keurig® is a
registered trademark of Keurig Dr Pepper Inc.
**NEXE Innovations Inc. is not affiliated with, endorsed, or
sponsored by Nespresso®. Nespresso® is a
registered trademark of Société des Produits Nestlé S.A.
About NEXE Innovations Inc.
NEXE Innovations Inc. is a leader in plant-based compostable
technology and advanced materials manufacturing based in
British Columbia, Canada. The
Company has developed one of the only patented, fully compostable,
plant-based, single-serve coffee pods for use in leading
single-serve coffee machines. The proprietary NEXE pod is designed
to reduce the significant environmental impact caused by
single-serve pods, >50 billion of which are discarded every
year. With over $60M raised to date
from equity and government funding and over five years of R&D,
NEXE is well-positioned to meet the growing demand for
environmentally friendly and sustainable products in the
single-serve coffee sector and beyond. Learn
more: http://nexeinnovations.com/
ON BEHALF OF THE BOARD OF DIRECTORS
NEXE INNOVATIONS INC.
s/ "Ash Guglani"
Ash Guglani, President
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Neither the TSX Venture Exchange nor its Regulation Service
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this release are forward-looking
statements or information, which include expected increases in the
Company's production capacity based on new acquired equipment,
future delivery timelines for additional equipment purchased by the
Company, the estimated size of the market for the Company's
products and the potential of the Company's technology, future
plans, and other matters. Forward-looking statements consist of
statements that are not purely historical, including any statements
regarding beliefs, plans, expectations or intentions regarding the
future. Such information can generally be identified by the use of
forwarding-looking wording such as "will", "may", "expect",
"estimate", "anticipate", "intend", "believe" and "continue" or the
negative thereof or similar variations. The reader is cautioned
that assumptions used in the preparation of any forward-looking
information may prove to be incorrect. Events or circumstances may
cause actual results to differ materially from those predicted, as
a result of numerous known and unknown risks, uncertainties, and
other factors, many of which are beyond the control of the Company,
including but not limited to, business, economic and capital market
conditions, the ability to manage operating expenses, consumer
demand for and sentiment towards the Company's products, supply
chain delays and disruptions, global health considerations,
security threats, performance of equipment in accordance with the
Company's specifications and dependence on key personnel. Such
statements and information are based on numerous assumptions
regarding present and future business strategies and the
environment in which the Company will operate in the future,
including the demand for its products, anticipated costs, and the
ability to achieve goals. Factors that could cause the actual
results to differ materially from those in forward-looking
statements include, failure to obtain regulatory approval, the
continued availability of capital and financing, equipment
failures, supply chain disruptions, litigation, increase in
operating costs, the impact of Covid-19 or other viruses and
diseases on the Company's ability to operate, competition, failure
of counterparties to perform their contractual obligations,
government regulations, loss of key employees and consultants, and
general economic, market or business conditions. Forward-looking
statements contained in this news release are expressly qualified
by this cautionary statement. The reader is cautioned not to place
undue reliance on any forward-looking information.
The forward-looking statements contained in this news release
are made as of the date of this news release. Except as required by
law, the Company disclaims any intention and assumes no obligation
to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
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SOURCE Nexe Innovations Inc.