NEXE Innovations Announces Collaboration with Neighborhood Coffee Company and Completes Second Delivery to Awaken Brands

Rhea-AI Summary

NEXE Innovations announces fulfillment of purchase order from Neighborhood Coffee Company and delivery to Awaken Brands Ventures Ltd. Production of compostable pods ramping up at Windsor Facility. Collaborations with premium roasters and discussions with other coffee roasters ongoing.

Positive

• NEXE is fulfilling a purchase order from Neighborhood Coffee Company and has made a second delivery to Awaken Brands Ventures Ltd, indicating increased demand for its compostable pods. Production is ramping up at the Windsor Facility, suggesting potential for higher revenues. Collaborations with premium roasters like Neighbourhood Coffee Company and discussions with other coffee roasters may lead to private label opportunities, expanding NEXE's customer base.

Negative

• None.

Production of NEXE's proprietary compostable, single-serve pods continues to ramp up at the Windsor Facility as onboarding of new customers continues

VANCOUVER, BC, Sept. 6, 2023 /PRNewswire/ - NEXE Innovations Inc. ("NEXE" or the "Company") (TSXV: NEXE) (Frankfurt: NX5) (OTC: NEXNF), a compostable and innovative materials company, proudly announces that it is currently fulfilling a purchase order from Neighborhood Coffee Company and has made a second delivery of its Biodegradable Products Institute (BPI) certified compostable, single-serve coffee pods to Awaken Brands Ventures Ltd for their "ecobeans" product line.

NEXE's Windsor Facility is ramping up the production of their BPI certified compostable pods. By collaborating with premium artisanal roasters like Neighbourhood Coffee Company and securing orders from forward thinking companies like Awaken Brands Ventures Ltd, NEXE believes it is building a solid base of recurring revenues. NEXE continues to advance discussions with other coffee roasters to drive private label opportunities.

"We believe the positive reception is undeniable, paving the way for a stronger base of recurring revenues. No longer do consumers need to choose between convenience and the environment while enjoying a superior coffee experience," stated Ash Guglani, President of NEXE Innovations.

Neighbourhood Coffee Company is a women-led, premium artisanal roaster located in Toronto with the mission to support and celebrate the diverse local Toronto community.

"Neighbourhood Coffee Roasters is more than just a roaster; it's a love letter to Toronto's vibrant diversity and its mosaic of over 100 distinct neighbourhoods," stated Karen Hales, CEO of Neighbourhood Coffee, "With sustainability top of mind, Neighbourhood Coffee is charting a green path forward. Our collaboration with NEXE Innovations strengthens our commitment to sustainability and the Toronto community. Introducing our 100% Compostable (Keurig Compatible) single-serve coffee pods is a proud milestone, marrying innovation with the essence of our city in every cup".

Dive deep into the sustainable future NEXE is crafting: NEXE Investor Presentation September 2023

NEXE's Competitive Edge

NEXE's BPI certified compostable, single-serve beverage pods target the market of 80+ billion single-serve plastic and aluminum pods.¹ NEXE's single-serve pod features innovative technology protected by patents, which NEXE believes allows more volume per pod than our competitors while delivering what the Company believes is an unrivalled "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 will likely position NEXE as a preferred choice for premium coffee brands seeking a sustainable solution. For more details on the authenticity and effectiveness of our compostable pods, explore NEXE Has Successfully Met the Testing Requirements for BPI Certification.

_______________________________________

1 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>.

 

*NEXE Innovations Inc. is not affiliated with, endorsed, or sponsored by Keurig®. Keurig® is a registered trademark of Keurig Dr Pepper Inc. 

About NEXE Innovations 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
invest@nexeinnovations.com
Office +1-604-359-4725
Mobile +1-604-359-4742

For media relations contact: media@nexeinnovations.com

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, 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.

View original content to download multimedia:https://www.prnewswire.com/news-releases/nexe-innovations-announces-collaboration-with-neighborhood-coffee-company-and-completes-second-delivery-to-awaken-brands-301918576.html

SOURCE Nexe Innovations Inc.

FAQ

What purchase orders has NEXE fulfilled recently?

NEXE has fulfilled a purchase order from Neighborhood Coffee Company and has made a second delivery to Awaken Brands Ventures Ltd.

What is the current status of pod production at NEXE's Windsor Facility?

Pod production is ramping up at NEXE's Windsor Facility.

What collaborations is NEXE engaged in with respect to coffee roasters?

NEXE is collaborating with premium roasters like Neighbourhood Coffee Company and is also in discussions with other coffee roasters for potential private label opportunities.