NEXE Innovations Breaks New Ground with First Delivery of BPI Compostable Coffee Pods to U.S. Customer
Launching a new era of sustainable coffee consumption as part of a partnership with Awaken Brands Ventures Ltd. targeting the U.S. Office Coffee Services Market
VANCOUVER, BC, Aug. 2, 2023 /CNW/ - NEXE Innovations Inc. ("NEXE" or the "Company") (TSXV: NEXE) (Frankfurt: NX5) (OTC: NEXNF), a compostable and innovative materials company, proudly announces its first delivery of its BPI certified compostable, single-serve coffee pods to Awaken Brands Ventures Ltd. The delivery marks a significant step in NEXE's drive to disrupt coffee consumption with a more sustainable option. Compostable pods account for a small piece of the 80+ billion total pods market, which is expected to grow by over 33% by 2028i. NEXE believes it is competitively positioned to capture market share of the large and growing global pod market.
NEXE's partnership with Awaken Brands is the Company's first foray into distributing its patented BPI compostable, single-serve pods for the Keurig® Brewing Systems*. NEXE believes this partnership supports Awaken's sustainability ambitions while delivering superior quality coffee to workplaces, including offices, factories, and healthcare facilities. Awaken Brands oversees the entire process of making their products, from research and product development to sourcing, manufacturing, marketing, and distribution. Awaken is committed to reducing its environmental impact; and with the inclusion of NEXE's BPI compostable pod, Awaken Brands is taking additional steps towards achieving its sustainability goals. NEXE's BPI compostable, single-serve pods will be used for Awaken's "ecobeans coffee" product line.
"Following several months of dedicated collaboration with NEXE Innovations, we are delighted to announce the arrival of our ecobeans coffee this August, packaged in NEXE's BPI compostable pods. This achievement allows us to offer a sustainably sourced, single-serve coffee that we believe provides a superb pour-over experience," says Alina Gogoescu, Co-Founder of Awaken Brands, "We are excited about the launch of ecobeans and to help bolster our clients' sustainability initiatives with an eco-friendly compostable pod option."
NEXE is now producing key components for its proprietary fully compostable beverage pod at its end-to-end manufacturing facility in Windsor, Ontario. The Windsor facility is capable of compounding resin, injection molding components, and dosing and sealing pods. For the coffee segment, NEXE can provide a fully integrated solution, including roasting and grinding coffee. A complete in-house manufacturing facility is a key part of NEXE's strategy that NEXE expects will allow it to scale much faster and accelerate R&D to introduce other fully compostable solutions. View operations at Windsor Facility here: ecobeans Production Run
"We are thrilled to have reached this significant milestone, delivering the BPI compostable, single-serve pods to Awaken Brands," stated Ash Guglani, President of NEXE Innovations. "Our dedication to R&D and our team's relentless pursuit of excellence has made this possible. Our commitment is to provide sustainable, competitive compostable solutions to eliminate plastic waste."
NEXE's BPI certified compostable, single-serve beverage pods target the market of 80+ billion single-serve plastic and aluminum pods. NEXE's single-serve pod features innovative technology protected by patents, allowing more volume per pod while delivering what the Company believes is an unrivaled "pour-over" coffee experience. The BPI certification is a third-party verification of ASTM standards for compostable products and is intended to protect consumers against false claims and greenwashing. The BPI certification also requires products to be PFAS-free. NEXE believes that these unique advantages are likely to position NEXE as a preferred choice for premium coffee brands seeking a sustainable solution. Read more here: NEXE Has Successfully Met the Testing Requirements for BPI Certification.
NEXE continues working with potential customers, including coffee brands and distributors, through the due diligence process. Over the next several months, production is expected to ramp up at NEXE's 54,000-square-foot Windsor Facility.
*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 a leader in innovative compostable materials technology based in Ontario, Canada. The first product developed by NEXE Innovations is one of the only patented, fully-compostable, single-serve coffee pods for use in existing major single-serve coffee machines.
For more information about NEXE Innovations' compostable materials and how it is well-positioned to meet the growing demand for environmentally friendly and sustainable products, visit www.nexeinnovations.com and follow us on social media@nexeinnovations.
On behalf of the Company:
Ash Guglani
President & Director
For investor relations contact:
Kam Mangat
VP, Investor Relations & Corporate Strategy
[email protected]
Office +1-604-359-4725
Mobile +1-604-359-4742
For media relations contact: [email protected]
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.
Certain statements in this release are forward-looking statements or information, which include, but are not limited to, statements in respect of timing or completion of validation process and discussions with potential clients; services the Company intends to offer; the growth of the markets in which the Company offers its products and services and the Company's overall business strategy. 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 "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, the Company's ability to execute on its business strategy and those risks set out in the Company's management's discussion and analysis for the three and nine months ended February 28, 2023, under the heading "Risk and Uncertainties". 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, receipt of necessary approvals 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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i AMI 2022, Single Serve Capsules – Global Market Overview 2022, accessed July 2023, <https://www.amiplastics.com/insights/has-the-eu-put-single-serve-capsules-at-a-crossroads>. |
SOURCE Nexe Innovations Inc.
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