VANCOUVER, BC , Jan. 26, 2021 NEXE Innovations Inc. (“NEXE” or “the Company”) (TSXV: NEXE; OTC Markets: NEXNF), a leader in plant-based compostable technology and advanced materials innovation is pleased to announce the expansion of its intellectual property (“IP”) portfolio. Over the last eight months, the Company has filed ten (10) provisional patent applications with the United States Patent and Trademark Office (“USPTO”).
The applications cover systems, methods, and materials for improving the quality, consistency, and compostability of plant-based packaging. Moreover, the applications cover significant improvements in the design and function of single-serve coffee pods used in major single-serve coffee machines.
“The filing of these provisional patent applications validates our intention to create innovative solutions that address challenges in the compostable-packaging industry,” said CEO of NEXE Darren Footz. “Our IP portfolio reflects the substantial research and development in the materials, design, and manufacturing of the NEXE pod. By incorporating these inventions into various aspects of our business, we continue to make progress on our commitment to reduce the environmental impact of plastic packaging.”
NEXE Chief Scientific Officer Dr. Zachary Hudson commented, “We are proud of the achievements of our product engineering team and their ability to consistently demonstrate creative problem-solving and find novel improvements to our technology. These inventions were made possible by our ability to rapidly prototype new product designs and immediately test them in real-world scenarios.”
The 10 provisional patent applications were filed between May 2020 and January 2021.
About NEXE Innovations Inc.
NEXE Innovations Inc. is a leader in plant-based compostable technology and advanced materials innovation 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 $35M 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:
Ash Guglani, President and director
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.