NEXE Innovations to Launch Fully Compostable Nespresso Compatible Pod Production
Feb. 13, 2021
Coffee Geography Magazine
NEXE Innovations Inc.announced that the construction of
its proof of concept Nespresso Coffee Automation Line is successfully installed
to be ready for full production. NEXE's manufacturing partners began factory
testing the machine with the company expecting to take delivery of the machine
on time and on budget in Q1 2021. NEXE recently announced two milestone
developments for its fully compostable Nespresso-compatible project including
the Cdn$1 Million ISC grant victory supporting the commercialization of its
NEXE Nespresso-Compatible Pods (see January 14, 2021 announcement) and
successful composting results.
This customized Nespresso Coffee Line is the last piece required for the company to commission and launch its fully compostable Nespresso-compatible pod in early Q3 2021. The automation demonstrates that NEXE's proprietary materials can be assembled at production speed proving scalability. Moving forward, this will form the basis for NEXE to order an additional scaled machine which will increase production capacity to an anticipated 50 Million of NEXE Nespresso-Compatible pods by the end of 2021.
Ash Guglani, President, stated, "Receiving this Nespresso Coffee Line will provide an additional revenue stream outside of our current XOMA product offering and helps us significantly increase our production abilities in a phased approach. Furthermore, it shows that NEXE, based on its five years of R&D has the ability to transfer its IP across multiple single serve formats, increasing ourpotential product offering. We continue to strengthen our IP portfolio with patent filings related to this product. We remain steadfast in our pursuit to provide consumers with fully compostable alternatives in the 50 billion single serve coffee capsule market."
Ash Guglani PRESIDENT, DIRECTOR
Ash spent 12 years in capital markets with a national investment bank in Vancouver. As an original founder of NEXE, he plays an integral role in helping NEXE in all capacities across financing (public, private and government), operations, and marketing.
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, >40 billion of which are discarded every year. With over $35M raised to date from equity and government funding and over five 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.