viewNEXE Innovations Inc

NEXE Innovations set to begin production of Nespresso-compatible pods at its British Columbia facility

The firm received and installed proprietary equipment to assemble its compostable Nespresso-compatible pods

NEXE Innovations Inc -
NEXE expects to start production on its pods in early 3Q 2021

NEXE Innovations Inc (CVE:NEXE) (OTCMKTS:NEXNF) announced it had installed proprietary equipment to assemble its compostable Nespresso-compatible pods.

The move will allow Vancouver-based NEXE to start production on its pods in early 3Q 2021, the company said in a statement.

NEXE also said that the Assembly Line equipment had passed its Site Acceptance Test, which is used to validate the functionality of equipment onsite following its installation.

READ: NEXE Innovations says XOMA Superfoods launches iXOMA Keto micro-ground coffee pods on its website

The company now has custom automation equipment to produce its two leading single-serve formats: the Nespresso- and Keurig-compatible pods.

"With our proprietary assembly line successfully installed, this will enable us to commercialize our Nespresso-compatible, compostable pods on schedule," said Ash Guglani, president of NEXE.

"We launched a fully compostable pod compatible with Keurig single-serve brewing systems earlier in 2021 with our in-house brand, XOMA Superfoods, and plan to expand our product offerings in 3Q with a Nespresso-compatible pod."

NEXE's patented, fully compostable, plant-based pods are designed to be a sustainable alternative to consumers that enjoy single-serve coffee but are eco-conscious as well. More than 56 billion single-serve capsules are discarded to the landfill every year, equivalent to over 400 pods per second.

The pod is the culmination of NEXE's two-year partnership with Innovative Solutions Canada, which awarded NEXE $1 million to support its development in January 2021.

"Developing a compostable Nespresso-style pod required innovation in materials design, composting performance, and high-speed automation. We're extremely excited to see this all come together with this upcoming product launch," said Zachary Hudson, Chief Scientific Officer at NEXE.

NEXE’s production facility is located in British Columbia, Canada.

Contact Angela at angela@proactiveinvestors.com

Follow her on Twitter @AHarmantas

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Price: 0.73 CAD

Market Cap: $70.14 m

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