VANCOUVER, BC, Feb. 16, 2021 /CNW/ - NEXE Innovations
Inc. (TSXV: NEXE) ("NEXE" or the "Company"), a leader in
innovative plant-based materials science and manufacturing
technologies, has begun the development and prototyping of a
compostable disposable facemask (the "NEXE Mask") in response to
the ongoing COVID-19 pandemic. In developing the NEXE Mask, NEXE
will leverage existing collaborations in polymer science,
plant-based materials, and municipal composting that were utilized
for its NEXE pod. To support this goal, NEXE has also initiated new
collaborations with leaders in healthcare and personal protective
equipment (PPE).
NEXE has developed initial prototypes and will focus on creating
a fully functional compostable disposable facemask that meets
international healthcare standards in the coming months. The
space required for manufacturing can be easily accommodated in
NEXE's newly expanded production facility, and several new hires in
engineering roles are anticipated as part of the project. The
Company aims to complete a functional prototype in 2021. With
funds raised under the December 2020
financing and received under warrant exercises, NEXE has sufficient
funds to complete the development of the NEXE Mask.
It is estimated that more than 100 billion facemasks1
are currently being disposed of every month as the COVID-19
pandemic rages. The vast majority of these are made from
non-compostable polypropylene, requiring decades or centuries to
break down and leaving microplastic pollution behind. While they
are a key tool in the fight against COVID-19, these disposable
masks also create significant landfill waste or contaminate lakes,
rivers, oceans, and soils. The global market for disposable masks
exceeded $70 billion USD in
20202, more than double the size of the market for
single-serve beverage pods.
"With this project, NEXE is finally able to showcase our
innovation platform, leveraging our battle-tested experience in
handling plant-based materials technologies to confront plastic
waste in the healthcare industry," said CEO Darren Footz. "Masks save lives, but there has
to be a more sustainable solution. We've built the skills and
technologies needed to confront this problem, and are excited to
open up a new dimension to our business."
NEXE will leverage established collaborations with the Surrey
Biofuels Facility, one of Canada's
most advanced composting centres, and Dr. Zachary Hudson, Canada Research Chair in
Sustainable Chemistry at UBC. Hudson also serves as Chief
Scientific Officer of NEXE, and his lab at UBC is equipped with
state-of-the-art instruments for materials characterization and
design.
"Our goal is to develop a disposable facemask that is made from
plant-based materials without compromising on safety or comfort. By
engaging with leaders in materials science, compostability, PPE
manufacturing, and healthcare, NEXE aims to apply our technologies
to one of the world's fastest-growing sources of plastic waste. We
are excited to share more about our technologies and partnerships
in the short term," said Hudson.
1J. C.
Prata, A. L. Patrício Silva, T. R. Walker, A. C. Duarte, T. Rocha
Santos, Environ. Sci.
Tech. 2020, 54, 7760.
|
2Grand
View Research. Disposable Face Mask Market Size, Share & Trends
Analysis Report By Product (Protective, Dust, Non-woven), By
Application (Industrial, Personal), By Distribution Channel, And
Segment Forecasts, 2020 - 2027. 2020
|
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.
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.
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Cautionary Note Regarding Forward-Looking
Statements
Certain statements in this release are
forward-looking statements or information, which include the
proposed use of proceeds, commercialization of the NEXE PODs,
including the NEXE Nespresso Compatible Pod, development of the
NEXE Mask, and increase production capacity, create other
environmentally friendly compostable packaging opportunities,
development of technologies, the potential of the Company's
technology, future plans, regulatory approvals and other matters.
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, business, economic and capital market
conditions, the ability to manage operating expenses, consumer
demand for and sentiment towards the Company's products, security
threats, and dependence on key personnel. 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, failure to obtain regulatory
approval, the continued availability of capital and financing,
equipment failures, litigation, increase in operating costs, the
impact of Covid-19 or other viruses and diseases on the Company's
ability to operate, competition, failure of counterparties to
perform their contractual obligations, government regulations, loss
of key employees and consultants, 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.