Interest continues to grow for NEXE's proprietary BPI-certified, single-serve pods to deliver exceptional coffee experience without compromising our planet's well-being
VANCOUVER, BC, Sept. 28, 2023 /PRNewswire/ - NEXE Innovations Inc. ("NEXE" or the "Company") (TSXV: NEXE) (Frankfurt: NX5) (OTC: NEXNF), a compostable and innovative materials company, is pleased to announce that it has onboarded and produced product for U.S. based Rooted Grounds Coffee, its third co-manufacturing customer for the Biodegradable Products Institute (BPI)-certified compostable, single-serve coffee pods. NEXE has also completed shipping product to Neighborhood Coffee – one of it's previously announced partnerships. Since moving into production, NEXE has onboarded three co-manufacturing customers including Rooted Grounds Coffee Company and Neighborhood Coffee. Management believes the interest surrounding NEXE's proprietary compostable single-serve pod continues to gain momentum, and NEXE continues to advance discussions to drive private label and co-manufacturing opportunities.
"This is an exciting period for NEXE as interest grows for our proprietary NEXE Pod. We continue to build our operations in Windsor as we are engaged in several active discussions with local artisanal brands and larger coffee companies," stated Ash Guglani, President of NEXE Innovations.
NEXE has also completed transitioning its own retail brand, NEXE Coffee to the BPI-certified compostable, single-serve coffee pods. NEXE's own retail brand is now being produced at it's Windsor, Ontario facility that utilizes the end-to-end manufacturing process. The retail brand is available at www.nexecoffee.com.
Rooted Grounds Coffee Company is a craft coffee company based in Ohio, U.S. Rooted Grounds Coffee's customers are spread across 22 U.S. states and include a roster of hospitals, senior living communities, hotels, restaurants, retail stores, universities, and car dealerships. Rooted Grounds Coffee's vision and passion is to bring delicious, fresh-roasted craft coffee to traditional commercial settings. Rooted Grounds Coffee's commitment to the community is central to its ethos. This partnership with NEXE Innovations to introduce compostable single-serve pods as part of their product line-up resonates with their dedication to sustainability and community welfare.
"We are absolutely thrilled to introduce NEXE's exciting new compostable product to all our customers (including those in distribution with US Foods and Sysco), as they have been asking for this and we can finally deliver," stated Patsy Knopf, MD, CEO of Rooted Grounds Coffee Company, "Rooted Grounds Coffee Company's partnership with NEXE will help improve sustainability in each community we serve."
Dive deep into the sustainable future NEXE is crafting: NEXE Investor Presentation September 2023
NEXE's Competitive Edge
NEXE's BPI certified compostable, single-serve beverage pods target the market of 80+ billion single-serve plastic and aluminum pods.1 NEXE's single-serve pod features innovative technology protected by patents, which NEXE believes allows more volume per pod than our competitors while delivering what the Company believes is an unrivalled "pour-over" coffee experience. The BPI certification is a third-party verification of ASTM standards for compostable products and is intended to protect consumers against false claims and greenwashing. The BPI certification also requires products to be PFAS-free. NEXE believes that these unique advantages will likely position NEXE as a preferred choice for premium coffee brands seeking a sustainable solution. For more details on the authenticity and effectiveness of our compostable pods, explore NEXE Has Successfully Met the Testing Requirements for BPI Certification.
*NEXE Innovations Inc. is not affiliated with, endorsed, or sponsored by Keurig®. Keurig® is a registered trademark of Keurig Dr Pepper Inc.
About NEXE Innovations Inc.
NEXE Innovations Inc. is a leader in innovative compostable materials technology based in Ontario, Canada. The first product developed by NEXE Innovations is one of the only patented, fully-compostable, single-serve coffee pods for use in existing major single-serve coffee machines.
For more information about NEXE Innovations' compostable materials and how it is well-positioned to meet the growing demand for environmentally friendly and sustainable products, visit www.nexeinnovations.com and follow us on social media@nexeinnovations.
On behalf of the Company:
Ash Guglani
President & Director
For investor relations contact:
Kam Mangat
VP, Investor Relations & Corporate Strategy
invest@nexeinnovations.com
Office +1-604-359-4725
Mobile +1-604-359-4742
For media relations contact: media@nexeinnovations.com
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, but are not limited to, statements in respect of timing or completion of discussions with potential clients; services the Company intends to offer; the growth of the markets in which the Company offers its products and services and the Company's overall business strategy. 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, the Company's ability to execute on its business strategy and those risks set out in the Company's management's discussion and analysis for the three and nine months ended February 28, 2023, under the heading "Risk and Uncertainties". 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, receipt of necessary approvals 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.
The 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.
