VANCOUVER, BC, July 27, 2021 /CNW/ - NEXE Innovations
Inc. ("NEXE" or the "Company") (TSXV: NEXE) (OTC Markets:
NEXNF) (Frankfurt: NX5), an innovative leader in plant-based
materials manufacturing, is excited to launch its premium espresso
pods in the U.S. and Canada at
nexecoffee.com on July 29, 2021.
This is the first NEXE-branded coffee product that the Company
is introducing into the single-serve coffee pod market1
that is currently valued at more than USD$25
billion annually. Approximately 56 billion
coffee pods are consumed each year which end up in the
landfill and can take up to 500 years to decompose2
leaving behind contamination and microplastics. Recyclable pods
often include non-recyclable plastic and aluminum - making them
less likely to be recycled properly or recycled at all.
NEXE has invested over six years into research and development
to create its proprietary and fully compostable coffee pod. The new
Nespresso® compatible pod breaks down in as little as just 30 days,
similar to the time it takes for an apple core to decompose.
The NEXE pods are compatible with the popular Nespresso
OriginalLine® machines and are manufactured and packaged in the
Company's operations plant. Manufacturing its products in-house
avoids unnecessary delays and shipping costs while controlling
recipe development and trade secrets.
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1
https://www.mordorintelligence.com/industry-reports/coffee-pods-and-capsules-market
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2
https://www.newstalk.com/news/over-56-billion-coffee-capsules-to-go-to-landfill-this-year-492445
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"The new NEXE espresso pod breaks down faster than any
packaging I have ever seen," said Mr. William Selten, Process Engineer, from Terravis
Holding Ltd., which conducted NEXE's independent composting study.
Mr. Selten is an expert in the field of organic waste processing,
has provided his expertise around the world in both the private and
public sectors, and has built multiple large-scale government-run
compost facilities throughout Canada and Europe. "Within 30 days, 90% of the pods were
broken down - which is truly amazing. I believe this is due to the
innovation behind the unique composition and design of the
pods."
"This new offering is for coffee purists: a flavourful, rich
dark roast espresso, packaged in one of the most sustainable coffee
pods available, made right here in North
America," said Ash Guglani, President of NEXE. "NEXE is a
proudly Canadian company that controls its own value chain meaning
we don't rely on offshore manufacturers and can create our products
in-house through our high-tech, environmentally friendly
manufacturing processes."
NEXE's first espresso product was crafted in collaboration
with Mr. Jason Rennie, former
Production Manager, from Ethical Bean. The team
spent a year looking for just the right combination of beans to
create the best-tasting, highest quality coffee. The blend was made
from three fair-trade, hand-selected beans grown in Ethiopia, Sumatra and Peru. It has a well-balanced
exotic flavour, a sweet brown sugar, vanilla, and honey aroma, as
well as a clean, smooth, juicy, medium body. In addition, the
coffee has a sweet, winey, crisp, and bright, tangy acidity with
citrus/lemon, orange, nectarine, and heavy chocolate notes.
"NEXE is committed to producing sustainable products that
make zero-waste living easy. We believe that there doesn't have to
be a trade-off between quality, great taste, convenience, and
sustainability. We are also working with well-respected
publications to share our story about how we are spearheading the
compostability movement, beginning with coffee pods. These
initiatives are all underway," added Ash Guglani.
*NEXE Innovations, Inc. is not affiliated with, endorsed, or
sponsored by Nespresso®. Nespresso® is a registered trademark of
Société des Produits Nestlé S.A.
On July 27, 2021, the Company will
issue 25,000 shares at a deemed market price of $1.02 to a former employee of the Company, who
met a performance related milestone in accordance with an
employment agreement as a Shares for Services transaction, as the
term is defined in the policies of the TSX Venture Exchange
("TSVX"). The shares will be subject to a four-month hold period
from the date of issue. The share issuance is part of a final
settlement with the party. The completion of this transaction is
subject to the approval of the TSXV.
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, over 50 billion of which are discarded every
year. With over $60 million raised to
date from equity and government funding and over six 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. Learn more at
https://nexeinnovations.com/investors/.
ON BEHALF OF THE BOARD OF DIRECTORS
NEXE INNOVATIONS INC.
s/ "Ash Guglani"
Ash Guglani, President
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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 the proposed use of
proceeds, commercialization of the NEXE PODs, including the NEXE
Nespresso Compatible Pod, 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. 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.