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NEXE Innovations Inc. (NEXE) is a compostable materials company based in Ontario, Canada, focusing on innovative compostable material solutions for the B2B segment. They have developed a patented compostable material that can withstand heat, pressure, and water. Their flagship product, the NEXE Pod, is a BPI-certified compostable coffee pod, designed as a sustainable alternative to plastic pods. The company operates a vertically integrated facility in North America and is committed to helping businesses achieve their sustainability goals.
NEXE Innovations has successfully acquired a 54,000 sq ft industrial facility in Windsor, Ontario, for $4.35 million, significantly below its original price of $6.5 million. This strategic acquisition aims to enhance the production capacity of NEXE's compostable packaging, including coffee capsules. The facility provides access to a skilled workforce and is located near key manufacturing sectors, bolstering the company's growth initiatives. The acquisition was endorsed by the Ontario Superior Court of Justice and is expected to facilitate expansion in the sustainable packaging market.
NEXE Innovations Inc. has completed the Site Acceptance Test for its high-speed assembly and dosing automation equipment, enhancing its production capacity by an additional 50 million annually for its compostable Keurig® compatible pods. This follows a successful Factory Acceptance Test in October 2021. The technology is tailored to NEXE's proprietary specifications and addresses the growing demand in the single-serve coffee pod market, projected to reach US$25.07 billion by 2026 with a CAGR of 7.07%.
NEXE Innovations Inc. (NEXNF) will present at the Plant Based World Conference & Expo in NYC on December 9-10, showcasing its innovative plant-based products. The company aims to promote its range, including the newly launched XOMA Superfoods and compatible pods for Keurig and Nespresso machines. NEXE's compostable pods break down in municipal facilities within 35 days, aligning with sustainability goals. President Ash Guglani anticipates strong market interest leading to increased sales in 2022. With over $60M raised and five years of R&D, NEXE is poised for growth in the eco-friendly single-serve coffee sector.
NEXE Innovations Inc. (TSXV: NEXE, OTC: NEXNF) announced key corporate governance updates as it prepares for its first anniversary on TSXV. Graham Gilley has been appointed Lead Independent Director, and a Compensation Committee of independent directors has been formed. Additionally, CFO Ed Duda will resign effective January 17, 2022, due to outside opportunities, prompting a search for a successor. NEXE emphasizes its commitment to best practices in corporate governance despite not being mandated by securities regulations.
NEXE Innovations Inc. (NEXNF) announced a partnership with ECS Coffee for the distribution of its NEXE Coffee and XOMA Superfoods beverages, set to launch in December 2021. This collaboration aims to enhance NEXE's online visibility and customer reach in Canada, addressing the growing demand for sustainable coffee options. NEXE's pods are unique as they are fully compostable, reducing environmental waste associated with traditional coffee pods. The single-serve coffee pod market is estimated at US$25.07 billion with a projected CAGR of 7.07% from 2021-2026.
NEXE Innovations Inc. has announced that its XOMA Superfoods product line is now listed on Walmart.ca, enhancing its distribution reach across Canada. The product range, which includes nutrient-rich beverages packaged in fully compostable pods, is aimed at providing convenient, plant-based options for consumers. As part of its growth strategy, NEXE aims to leverage insights from this launch to inform future product development. The XOMA line includes five beverages designed for health-conscious consumers, compatible with Keurig single-serve systems. The partnership with Walmart signals confidence in NEXE's sustainability efforts.
NEXE Innovations Inc. (TSXV: NEXE, OTC: NEXNF) will present its product lines, NEXE Coffee and XOMA Superfoods, at the Planted Expo 2021 in Vancouver on November 20-21. Visitors can find NEXE Coffee at booth 712 and XOMA Superfoods at booth 710. The event showcases over 200 vegan businesses and features prominent speakers. NEXE's 100% plant-based coffee pods decompose in municipal composting facilities within 35 days, highlighting the company's commitment to sustainability. NEXE has raised over $60M and focuses on environmentally friendly single-serve coffee solutions.
NEXE Innovations Inc. (TSXV: NEXE) has announced retail distribution for its XOMA Superfoods beverages at 78 London Drugs locations in Canada, set to launch in January 2022. This move marks a significant expansion beyond e-commerce for NEXE, allowing it to provide sustainably packaged single-serve options. The XOMA Superfoods line includes Keto Cocoa, Matcha Latte, and Turmeric Golden Milk, all designed for easy integration into plant-based diets. The superfood market is projected to reach $209.1 billion by 2026, indicating strong growth potential for NEXE.
NEXE Innovations Inc. has partnered with Crew Marketing Partners to boost online sales of its patented fully compostable coffee pods compatible with Keurig systems. This collaboration aims to enhance brand awareness and drive consumer engagement through targeted digital campaigns. Crew Marketing has a strong track record with consumer packaged goods, and with an estimated market of US$25.07 billion by 2026, NEXE is well-positioned to capture market share. The compostable pods, developed after six years of research, can decompose in 30-35 days, addressing significant waste concerns in the coffee pod market.
NEXE Innovations has successfully completed a Factory Acceptance Test (FAT) for its high-speed dosing machine, which will enhance its production capacity to over 50 million annual Keurig® compatible pods. The FAT, conducted on October 26, 2021, demonstrated a capacity of 200 capsules per minute and mechanical efficiency exceeding 93%. The first of two machines ordered in February 2020 is expected to arrive in November 2021, with a Site Acceptance Test following shortly. NEXE aims to reach a capacity of over 100 million pods annually by early 2022.
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