NEXE Innovations Announces the Sale of its Surrey Facility for $5.7 million
NEXE Innovations Inc. (TSXV: NEXE, OTC: NEXNF) has sold its Surrey, B.C. facility for $5.7 million, a significant increase from its initial $2.4 million investment. The company, with a current cash position of over $10 million, plans to invest the proceeds in operations, sales, and marketing. NEXE is transitioning to a vertically integrated manufacturing model at its Windsor, Ontario facility, which has a production capacity of ~500 million pods.
This strategic move aims to enhance competitiveness by bringing all operations in-house, including the production of proprietary plant-based resin. The Windsor facility's location near the Canada-U.S. border provides access to a market of over 100 million people within a 500-mile radius, positioning NEXE to make a significant impact in the North American compostable materials market.
NEXE Innovations Inc. (TSXV: NEXE, OTC: NEXNF) ha venduto il suo stabilimento di Surrey, B.C. per 5,7 milioni di dollari, un aumento significativo rispetto all'investimento iniziale di 2,4 milioni di dollari. L'azienda, con una posizione di liquidità attuale di oltre 10 milioni di dollari, prevede di investire il ricavato in operazioni, vendite e marketing. NEXE si sta spostando verso un modello di produzione verticalmente integrato nel suo stabilimento di Windsor, Ontario, che ha una capacità produttiva di circa 500 milioni di capsule.
Questa mossa strategica mira a migliorare la competitività portando tutte le operazioni all'interno, inclusa la produzione di resina vegetale proprietaria. La posizione dello stabilimento di Windsor, vicino al confine tra Canada e Stati Uniti, offre accesso a un mercato di oltre 100 milioni di persone entro 800 chilometri, posizionando NEXE per avere un impatto significativo nel mercato nordamericano dei materiali compostabili.
NEXE Innovations Inc. (TSXV: NEXE, OTC: NEXNF) ha vendido su instalación en Surrey, B.C. por 5.7 millones de dólares, un aumento significativo respecto a su inversión inicial de 2.4 millones de dólares. La compañía, con una posición de efectivo actual de más de 10 millones de dólares, planea invertir los ingresos en operaciones, ventas y marketing. NEXE está haciendo la transición a un modelo de fabricación verticalmente integrado en su instalación de Windsor, Ontario, que tiene una capacidad de producción de aproximadamente 500 millones de cápsulas.
Este movimiento estratégico tiene como objetivo mejorar la competitividad centralizando todas las operaciones, incluida la producción de resina a base de plantas de propiedad. La ubicación de la instalación de Windsor, cerca de la frontera entre Canadá y Estados Unidos, ofrece acceso a un mercado de más de 100 millones de personas en un radio de 800 kilómetros, posicionando a NEXE para tener un impacto significativo en el mercado norteamericano de materiales compostables.
NEXE Innovations Inc. (TSXV: NEXE, OTC: NEXNF)가 브리티시컬럼비아주 서리의 시설을 570만 달러에 매각했습니다. 이는 초기 240만 달러 투자에서 상당한 증가입니다. 회사는 현재 1천만 달러 이상의 현금 보유량을 가지고 있으며, 수익을 운영, 판매 및 마케팅에 투자할 계획입니다. NEXE는 온타리오주 윈저에 있는 시설에서 수직적으로 통합된 제조 모델로 전환하고 있으며, 약 5억 개의 캡슐을 생산할 수 있는 능력을 갖추고 있습니다.
이 전략적 움직임은 모든 작업을 내부에서 수행하여 경쟁력을 높이는 것을 목표로 하고 있으며, 여기에는 독점 식물 기반 수지 생산도 포함됩니다. 윈저 시설의 위치는 캐나다-미국 국경 근처에 있어 반경 800킬로미터 이내에 1억 명 이상의 시장에 접근할 수 있으며, 이는 NEXE가 북미의 퇴비화 가능한 재료 시장에서 중요한 영향을 미칠 수 있도록 합니다.
NEXE Innovations Inc. (TSXV: NEXE, OTC: NEXNF) a vendu son installation à Surrey, C.-B. pour 5,7 millions de dollars, une augmentation significative par rapport à son investissement initial de 2,4 millions de dollars. L'entreprise, avec une position de liquidité actuelle de plus de 10 millions de dollars, prévoit d'investir les recettes dans les opérations, les ventes et le marketing. NEXE est en train de passer à un modèle de fabrication intégré verticalement dans son installation de Windsor, en Ontario, qui a une capacité de production d'environ 500 millions de capsules.
Ce mouvement stratégique vise à améliorer la compétitivité en centralisant toutes les opérations, y compris la production de résine végétale propriétaire. L'emplacement de l'installation de Windsor, près de la frontière canado-américaine, offre un accès à un marché de plus de 100 millions de personnes dans un rayon de 800 kilomètres, positionnant NEXE pour avoir un impact significatif sur le marché nord-américain des matériaux compostables.
NEXE Innovations Inc. (TSXV: NEXE, OTC: NEXNF) hat sein Werk in Surrey, B.C. für 5,7 Millionen Dollar verkauft, ein erheblicher Anstieg im Vergleich zu seiner ursprünglichen Investition von 2,4 Millionen Dollar. Das Unternehmen hat eine aktuelle Liquiditätsposition von über 10 Millionen Dollar und plant, die Erlöse in Betrieb, Vertrieb und Marketing zu investieren. NEXE wechselt zu einem vertikal integrierten Produktionsmodell in seinem Werk in Windsor, Ontario, das eine Produktionskapazität von etwa 500 Millionen Kapseln hat.
Dieser strategische Schritt zielt darauf ab, die Wettbewerbsfähigkeit zu steigern, indem alle Betriebe intern zusammengeführt werden, einschließlich der Produktion von proprietärem pflanzenbasiertem Harz. Die Lage des Windsor-Werks in der Nähe der kanadisch-amerikanischen Grenze bietet Zugang zu einem Markt von über 100 Millionen Menschen in einem Umkreis von 800 Kilometern, wodurch sich NEXE in einer starken Position befindet, um im nordamerikanischen Markt für kompostierbare Materialien einen erheblichen Einfluss zu haben.
- Sale of Surrey facility for $5.7 million, more than doubling the initial $2.4 million investment
- Strong cash position of over $10 million as of Q3 2024
- Vertical integration strategy to improve competitiveness and pricing
- Windsor facility with production capacity of ~500 million pods
- Strategic location near Canada-U.S. border, accessing a market of ~100 million people within 500 miles
- None.
- The Surrey Facility cost
$2.4 million $10 million $5.7 million - The vertically integrated Windsor Facility will be the primary location for operations and is a key part of the strategy. Each part of the manufacturing process, including the proprietary plant-based resin, will be manufactured in-house.
The
"We believe our move to reshore all of our operations and bring each step of the manufacturing process in-house gives us a competitive edge, ensuring we can offer superior products at a competitive price," stated Ash Guglani, President and Co-founder of NEXE.
NEXE's fully integrated manufacturing facility in
About NEXE Innovations Inc.
NEXE Innovations is focused on providing innovative compostable material solutions and packaging to the B2B segment to help businesses achieve their sustainability goals. NEXE Innovations has developed a proprietary and patented compostable material that can withstand heat, pressure, and water. Our flagship product, the NEXE Pod, a BPI-certified compostable coffee pod, showcases our material's durability and is an ideal substitute for plastic. The NEXE pod is compatible with major coffee brewing machines and is manufactured at NEXE's vertically integrated facility based in
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 the Company's use of the cash proceeds from the sale of the Surrey Facility, the Company's expectations of the impact of its vertically integrated facility, and the Company's overall business strategy, increases in production and revenue, and the Company's long-term growth and development plans. 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 those risks set out in the Company's management's discussion and analysis for year ended May 31, 2023 and quarter ended February 29, 2024 under the headings "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.
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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SOURCE Nexe Innovations Inc.
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