VANCOUVER, BC, July 27, 2021 /PRNewswire/ - 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.
"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
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.
SOURCE Nexe Innovations Inc.