On February 11, 2021, NEXE Innovations Inc., the Vancouver-based company, announced a significant milestone in commercializing its fully compostable Nespresso Coffee pods. Founded in 2015, NEXE originally leveraged 3D printing technology to prototype and patent its first compostable coffee pods. Since then, they’ve been proving the concept, material, compatibility, and building automations in order to scale their solution to be publicly available in the latter half of 2021.
In recent months, NEXE announced two other milestone developments for its fully compostable Nespresso-compatible project. On January 14, 2021, NEXE received a grant from the Government of Canada in the amount of $1 Million to support the development and launch of this project. Just prior to this, NEXE announced successful composting results for their coffee pods on December 30, 2020.
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 our potential 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.”
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, >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.
For additional information, please contact:
Ash Guglani, President and director
Kelsey Letham, Investor Relations at 604-359-4731