- NEXE Nespresso-Compatible Pods achieve 100% breakdown by composting within 10 weeks.
- These results meet key requirements for certification as compostable in both North American and European markets.
- The NEXE Nespresso Pod was engineered to give among the highest extraction and volume of coffee against other compatible competitors.
VANCOUVER, BRITISH COLUMBIA – December 30, 2020 – NEXE Innovations Inc. (TSXV: NEXE) (“NEXE” or the “Company”), a leader in plant-based materials science and advanced manufacturing technologies, is pleased to announce results from Pilot-scale composting and sieving tests for measurement of disintegration performed on its NEXE Nespresso-Compatible Pods by OWS Labs that conforms to international standards.
“We are extremely pleased that our NEXE Nespresso-Compatible Pods achieved 100% disintegration within 10 weeks, which is a significant improvement over the testing standard of 90% disintegration in less than 12 weeks. Our NEXE Nespresso-Compatible Pods have set a high standard for our competitors,” commented Darren Footz, Chief Executive Officer of NEXE.
These results meet critical international standards required for certification as compostable materials, including American standards ASTM D6400 and D6868, European standard EN 13432, and International standard ISO 17088. The trials also found that NEXE Nespresso Compatible Pods had no negative effects on the quality of the resulting compost.
Zachary Hudson, Chief Scientific Officer at NEXE, commented “These outstanding results demonstrate that our Nespresso-Compatible Pods are ready for certification in both North America and Europe. Years of R&D have led to a sustainable product that does not compromise the taste profile the consumer demands, and that can be composted completely after use.”
NEXE’s pods are among the only patented compostable single-serve beverage pods designed to store more volume of product per capsule than other leading brands. Over 40 billion non-compostable single-serve beverage pods made from traditional plastic are currently discarded annually to landfills around the world.
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 existing major single-serve coffee machines. The proprietary NEXE pod is designed to reduce the significant environmental impact caused by single-serve pods (+40 billion plastic pods discarded every year). With over $30M raised (equity and government funding) to date 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.
For additional information, please contact:
Kelsey Letham, Investor Relations at 604-359-4731
or visit: nexeinnovations.com
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this release are forward-looking statements or information, which include the proposed use of proceeds, commercialization of the NEXE PODs, including the NEXE Nespresso Compatible Pod, and increase production capacity, create other environmentally friendly compostable packaging opportunities, development of technologies, the potential of the Company’s technology, future plans, regulatory approvals 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 “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, security threats, 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, 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.
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.