NORTH YORK, Ontario, April 19, 2011 /PRNewswire/ -- Axios Mobile Assets Corporation (CNSX: AXA) today announced it has achieved FDA compliance for its proprietary bio-based trackable pallet and software technology. The solutions meet FDA standards for CFR 21 part 11 compliance based on the pallet's material composition, in accordance to the U.S. Federal Code of Regulation.
"FDA compliance represents another critical step for Axios as we prepare to enter production of our next generation, bio-based pallet technology, bundled with our cross-platform tracking and information system," said Richard MacDonald, president and CEO of Axios.
The Axios bio-based solution offers an opportunity to integrate the company's web-based software platform and RFID-enabled pallet, Axios is capable of tracking customer products through the entire supply chain, from production to retailer. Additionally, Axios' integrated pallet solution is suitable for a variety of industries, but has added advantages based on its trackability; including risk management, preventing counterfeiting, loss and tracing pallet loads in food/beverage, pharmaceuticals, alcohol and other premium goods markets.
Specifically, today's pharmaceutical and life sciences companies face increasing pressure to ensure integrity in the supply chain, manage compliance, improve quality control and safeguard against counterfeit products and contamination. The industry also has endured major recalls due to lack of phytosanitary controls, inherent with wooden pallets.
Axios' bio-based composite pallet is derived from natural materials and has been meticulously engineered to help curtail this issue within the pharmaceutical industry. Axios pallets contain no decaBDE (Decabromine), and are mold, mildew and insect resistant. DecaBDE has been commonly used in plastic pallets as a fire retardant that is known for its harmful effect on human health and the environment due to leaching toxins. It has been banned in a number of U.S. states and the composition of Axios pallets allows users the convenience of avoiding state-by-state compliance of their shipments based on the type of pallet they are using. Furthermore, the bio-based pallets have a longer lifespan than wood and comparable longevity to plastic pallets used today.
"We see substantial growth opportunities in the pharmaceutical industry," said MacDonald. "We've raised the bar with our design and materials, and see significant opportunities in helping companies monitor their shipments while providing a safe, clean solution to the logistics supply chain."
About Axios Mobile Assets
Axios Mobile Assets Corp. is a logistics enabler, featuring next generation, bio-based pallet technology, which can be bundled with its proprietary tracking and information system that helps improve the value chain in the logistics market. The Axios bundled offering is gaining market acceptance based on its unique attributes: lower total cost, longer useful life, customized configurations and a revenue stream through carbon credit generation, monitoring and the monetizing of carbon emissions reductions. Axios was incorporated under the Business Corporations Act (Ontario) and is a reporting issuer in the Province of Ontario. Axios is traded on the Canadian National Stock Exchange (CNSX) under the symbol AXA.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements included in this report and the documents that we incorporate by reference, are forward-looking statements and can generally be identified by words such as "will," "allow," "outlook," or the negative of these terms, and other comparable terminology. Various risks and other factors could cause actual results, and actual events that occur, to differ materially from those contemplated by the forward looking statements, such as whether Axios and the pallet management company are able to agree on the terms of a definitive supply agreement, and whether Axios is able to meet price, performance, quality and delivery requirements. Axios undertakes no obligation to update the information in this press release to reflect events or circumstances after the date hereof or to reflect the occurrence of anticipated or unanticipated events.
SOURCE Axios Mobile Assets Corporation