- Launch of first functional product under Xoma Superfoods line.
- Initial product is a superfood micro-ground soluble coffee with Organic MCT from Coconut Oil in the proprietary NEXE fully-compostable pod.
- Available for sale on February 5th, 2021.
VANCOUVER, BRITISH COLUMBIA – FEBRUARY 1, 2021 – NEXE Innovations Inc. (TSXV: NEXE) (“NEXE” or the “Company”), a leader in innovative plant-based materials science and manufacturing technologies, is pleased to announce the commercialization of its proprietary pod for single-serve use in Keurig brewing systems with our premium XOMA Superfoods line. The Xoma Superfoods pilot launch will begin with a micro-ground soluble coffee with Organic MCT (Medium-Chain Triglycerides). NEXE anticipates that its Xoma Superfoods product will be available for sale at Xoma.ca on February 5th, 2021.
Company Co-Founder and CEO Darren Footz commented, “This is a pivotal milestone for us. With almost six years from concept to commercialization, this innovative product will be the first time the public will be able to touch, see, and enjoy the great taste that our pod is able to deliver. Consumers will now be able to savor their coffee without the waste associated with typical single-serve beverages. Our Xoma offering, including the packaging, will be environmentally-friendly. Initial demand is strong, and we will be expanding our offerings in the near term.”
This launch is intended to be the first in a series of product releasesdesigned to meet demand from health and environmentally conscious consumers. The Xoma Superfoods line is designed to combine personal wellness and sustainability in a premium product for health and environmentally conscious consumers. Visit Xoma.ca to stay up to date with all other superfood offerings in the coming months.
The Company’s fully compostable plant-based NEXE pod is the perfect delivery mechanism for future Xoma products, while adhering to NEXE’s environmental, social, and corporate governance (ESG) goals. With this launch, NEXE aims to set the benchmark for advancing plant-based manufacturing technologies and sustainable consumer goods.
Ash Guglani, President, stated, “We are proud to say that in addition to the $14.2M that the Company raised in its December 2020 financing, NEXE has received more than $3M from warrant exercises to date. The Company remains fully funded to fulfill its capital requirements. Funds raised to date will be used to scale our direct-to-consumer Xoma Superfoods brand as well as continue to bring additional revenue-generating initiatives on-line.”
About XOMA Superfoods
XOMA Operations Inc. is a subsidiary of NEXE Innovations Inc. Xoma Superfoods produces and distributes high-quality coffee and superfood creamers packaged exclusively in single-serve, fully compostable, plant-based pods.
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, >40 billion of which are discarded every year. With over $30M 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.
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, increase production capacity, demand and/or sales of its products, 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.