Xeriant NEXBOARD™ Update: Finalizing Testing and Setting Up Production

Rhea-AI Summary

Xeriant (OTCQB: XERI) provides an update on NEXBOARD™, its eco-friendly composite construction panel. The company has engaged a polymer chemist to refine the board's composition, focusing on passing the NFPA 286 fire test. Xeriant is finalizing a production method that optimizes volume, quality, and cost efficiency. The company is also setting up large-scale production with a contract manufacturer to meet near-term demand. Multiple companies are waiting to make purchases once production begins.

Xeriant plans to establish its own manufacturing facilities and has identified equipment and potential locations. Discussions with an investment bank for funding plant and equipment are underway. NEXBOARD is part of Xeriant's DUREVER™ brand of advanced materials, targeting the green construction materials market, projected to reach $1.2 trillion by 2032.

Positive

• Engagement of a polymer chemist to refine NEXBOARD composition for improved fire resistance
• Finalizing production method for optimal volume, quality, and cost efficiency
• Setting up large-scale production with a contract manufacturer
• Multiple companies waiting to purchase NEXBOARD once production begins
• Plans to establish own manufacturing facilities
• Discussions with investment bank for funding plant and equipment
• Targeting green construction materials market projected to reach $1.2 trillion by 2032

Negative

• NEXBOARD has not yet passed the NFPA 286 fire test
• Large-scale production not yet operational
• Own manufacturing facilities not yet established

Chemist and composites testing laboratory help to finalize board composition

Contract manufacturer being lined up for production

BOCA RATON, Fla., Sept. 12, 2024 (GLOBE NEWSWIRE) -- Xeriant, Inc. (OTCQB: XERI) (“Xeriant” or “the Company”), dedicated to the discovery, development and commercialization of disruptive technologies in advanced materials and aerospace, provides an update on NEXBOARD™ testing and production. NEXBOARD is an eco-friendly, patent-pending composite green construction panel generally made from plastic and fiber waste, designed to offer a more sustainable and durable alternative to traditional materials like wood and gypsum board which are non-renewable resources or that have a hazardous impact on the environment.

“Following initial fire testing at a national certification laboratory in June, Xeriant engaged a polymer chemist to help refine NEXBOARD’s composition, with a focus on passing the rigorous NFPA 286 test. Leading up to this step were several modifications in the base material and fire-retardant compositions, and finalizing a production method that delivers the highest volume, best quality output at the lowest cost, which involved extensive research and testing over many months. We believe that the additional changes will enable NEXBOARD to meet or surpass the existing code requirements for building materials used for our targeted applications,” stated Keith Duffy, CEO of Xeriant.

Xeriant is also in the process of setting up large-scale production at a well-established contract manufacturer, which will enable NEXBOARD to be sold in volume near-term. A list of companies are waiting for production to start so they can begin making purchases. In order to meet the vast market demand, Xeriant plans to set up its own manufacturing facilities and has already identified equipment and potential locations for the first site. Meetings have already taken place with a prominent investment bank interested in providing the funding needed for plant and equipment.

About Xeriant, Inc.

Xeriant, Inc. is a holding and operating company dedicated to the discovery, development and commercialization of advanced materials and technology related to next generation air and spacecraft, which can be successfully integrated and commercialized for deployment across multiple industrial sectors. We seek to partner with and acquire strategic interests in visionary companies that accelerate this mission. Xeriant’s advanced materials line is marketed under the DUREVER™ brand, and includes NEXBOARD™, an eco-friendly, patent-pending composite construction panel made from plastic and fiber waste, designed to replace products such as drywall, plywood, OSB, MDF, MgO board and other materials used in construction.

NEXBOARD is at the forefront of the rapidly growing green construction materials market, projected to reach $1.2 trillion by 2032 according to Fortune Business Insights. The robust development of next-generation building products is driven by the need for eco-friendly alternatives that address unsustainable environmental trends, as well as the pursuit of greater durability and longevity compared with current conventional products. The construction industry uses about 60 percent of all natural resources, either directly or indirectly (The Constructor), while contributing about 33 percent of waste (International Solid Waste Association) and 40 percent of CO2 emissions (World Economic Forum).

For more information, please go to www.xeriant.com.

SAFE HARBOR FORWARD-LOOKING STATEMENTS
In connection with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Xeriant, Inc. is hereby providing cautionary statements identifying important factors that could cause our actual results to differ materially from those projected in forward-looking statements (as defined in such act). Any statements that are not historical facts and that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, indicated through the use of words or phrases such as “will likely result,” “are expected to,” “will continue,” “is anticipated,” “optimistic,” “estimated,” “intends,” “plans,” “believes” and “projects”) may be forward-looking and may involve estimates and uncertainties which could cause actual results to differ materially from those expressed in the forward-looking statements. These statements include, but are not limited to, our expectations concerning our ability to attract investors.

We caution that the factors described herein could cause actual results to differ materially from those expressed in any forward-looking statements we make, and investors should not place undue reliance on any such forward-looking statements. Further, any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of anticipated or unanticipated events or circumstances. New factors emerge from time to time, and it is not possible for us to predict all such factors. Further, we cannot assess the impact of each such factor on our results of operations or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.

This press release does not constitute an offer of any securities for sale.

Xeriant, Inc.
Investor Relations Dept.
(561) 491-9595
IR@xeriant.com 
Xeriant.com

FAQ

What is the current status of NEXBOARD testing and production for Xeriant (XERI)?

Xeriant (XERI) is finalizing NEXBOARD testing with a polymer chemist to pass the NFPA 286 fire test. The company is also setting up large-scale production with a contract manufacturer and plans to establish its own manufacturing facilities.

How many companies are waiting to purchase NEXBOARD from Xeriant (XERI)?

According to the press release, multiple companies are waiting to make purchases of NEXBOARD once Xeriant (XERI) begins production.

What is the projected market size for green construction materials that Xeriant (XERI) is targeting with NEXBOARD?

Xeriant (XERI) is targeting the green construction materials market with NEXBOARD, which is projected to reach $1.2 trillion by 2032 according to Fortune Business Insights.

How is Xeriant (XERI) planning to fund its own NEXBOARD manufacturing facilities?

Xeriant (XERI) is in discussions with a prominent investment bank interested in providing the funding needed for plant and equipment to establish its own NEXBOARD manufacturing facilities.