Xeriant Reveals Plan to Scale-Up Manufacturing of NEXBOARD™

Rhea-AI Summary

Xeriant has announced plans to scale up the manufacturing of its eco-friendly NEXBOARD construction panels after completing its final pilot production run. The company is taking significant steps toward financing and setting up dedicated production facilities by selecting specialized equipment and visiting potential manufacturing sites. Xeriant recently attended the NPE2024 Plastics Show in Orlando, focusing on recycling and sustainability. They held multiple meetings with manufacturers for the required machinery and discussed financing options with investment bankers, including tax-free 'green' bonds.

NEXBOARD targets the green construction materials market, projected to reach $1.2 trillion by 2032. These panels aim to provide durable, long-lasting alternatives to conventional building materials, addressing environmental concerns like resource consumption, waste production, and CO2 emissions. CEO Keith Duffy expressed optimism about meeting market demand through new, customized manufacturing plants.

Positive

• Xeriant plans to scale up the manufacturing of NEXBOARD, an eco-friendly construction panel.
• The green construction materials market is projected to reach $1.2 trillion by 2032.
• Xeriant is seeking financing through tax-free 'green' bonds.
• The company has taken significant steps towards setting up dedicated production facilities and selecting specialized equipment.

Negative

• Xeriant's current contract manufacturer's equipment has limitations compared to customized production lines.

Company’s Attendance at NPE2024 Plastics Show in Orlando Sparks Interest

BOCA RATON, Fla., July 02, 2024 (GLOBE NEWSWIRE) -- Xeriant, Inc. (OTCQB: XERI) (“Xeriant” or “the Company”), a company dedicated to the discovery, development and commercialization of aerospace technologies and advanced materials, provides an update on its plans to scale-up manufacturing of its eco-friendly NEXBOARD construction panels following its final pilot production run.

Xeriant has taken critical steps toward financing and setting up dedicated production facilities, including the selection of specialized equipment and visiting potential sites for its first manufacturing location. During the R & D phase, the Company has been working with a contract manufacturer whose equipment has limitations when compared with a customized production line. Recently, Xeriant attended NPE2024, one of the largest plastics industry conventions in the world, where the theme was recycling plastics and sustainability.   Xeriant had numerous meetings with manufacturers that provide the specialized machinery needed to make NEXBOARD. The Company has also been in discussions with investment bankers regarding financing for its manufacturing facilities using tax-free “green” bonds.

“The Company is currently developing its plans for dedicated production facilities, including equipment, plant layout, locations, and financing. We are looking forward to having customized manufacturing plants that can meet the market demand from homebuilders who have committed to using our wallboards,” commented Keith Duffy, CEO of Xeriant.

NEXBOARD is at the forefront of the rapidly growing green construction materials market, projected to reach $1.2 trillion by 2032 according to Fortune Business Insights. The robust development of next-generation building products is driven by the need for eco-friendly alternatives that address unsustainable environmental trends, as well as the pursuit of greater durability and longevity compared with current conventional products. The construction industry uses about 60 percent of all natural resources, either directly or indirectly (The Constructor), while contributing about 33 percent of waste (International Solid Waste Association) and 40 percent of CO2 emissions (World Economic Forum).

About Xeriant, Inc.

Xeriant, Inc. is a holding and operating company dedicated to the discovery, development and commercialization of advanced materials and technology related to next generation air and spacecraft, which can be successfully integrated and commercialized for deployment across multiple industrial sectors. We seek to partner with and acquire strategic interests in visionary companies that accelerate this mission. Xeriant’s advanced materials line is marketed under the DUREVER™ brand, and includes NEXBOARD™, an eco-friendly, patent-pending composite construction panel made from plastic and fiber waste, designed to replace products such as drywall, plywood, OSB, MDF, MgO board and other materials used in construction.   Xeriant is located at the Research Park at Florida Atlantic University in Boca Raton, Florida adjacent to the Boca Raton Airport.

For more information, please go to www.xeriant.com  

SAFE HARBOR FORWARD-LOOKING STATEMENTS
In connection with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Xeriant, Inc. is hereby providing cautionary statements identifying important factors that could cause our actual results to differ materially from those projected in forward-looking statements (as defined in such act). Any statements that are not historical facts and that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, indicated through the use of words or phrases such as “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimated,” “intends,” “plans,” “believes” and “projects”) may be forward-looking and may involve estimates and uncertainties which could cause actual results to differ materially from those expressed in the forward-looking statements. These statements include, but are not limited to, our expectations concerning our ability to attract investors.

We caution that the factors described herein could cause actual results to differ materially from those expressed in any forward-looking statements we make, and investors should not place undue reliance on any such forward-looking statements. Further, any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of anticipated or unanticipated events or circumstances. New factors emerge from time to time, and it is not possible for us to predict all such factors. Further, we cannot assess the impact of each such factor on our results of operations or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.

This press release does not constitute an offer of any securities for sale.

Xeriant, Inc.
Investor Relations Dept.
(561) 491-9595
IR@xeriant.com 
Xeriant.com

FAQ

What are Xeriant's plans for manufacturing NEXBOARD?

Xeriant plans to scale up the manufacturing of its eco-friendly NEXBOARD construction panels by setting up dedicated production facilities with specialized equipment.

When did Xeriant announce its manufacturing plans for NEXBOARD?

Xeriant announced its manufacturing plans for NEXBOARD on July 2, 2024.

What event did Xeriant attend to promote NEXBOARD?

Xeriant attended the NPE2024 Plastics Show in Orlando.

What is the projected market size for green construction materials by 2032?

The green construction materials market is projected to reach $1.2 trillion by 2032.

How is Xeriant planning to finance its manufacturing facilities?

Xeriant is discussing financing options with investment bankers, including the use of tax-free 'green' bonds.

What limitations does Xeriant's current contract manufacturer's equipment have?

The current contract manufacturer's equipment has limitations compared to a customized production line.