VANCOUVER, BC, Jan. 26, 2021 /CNW/ - NEXE Innovations
Inc. ("NEXE" or "the Company") (TSXV: NEXE) (OTC Markets:
NEXNF), a leader in plant-based compostable technology and advanced
materials innovation is pleased to announce the expansion of its
intellectual property ("IP") portfolio. Over the last
eight months, the Company has filed ten (10) provisional patent
applications with the United States Patent and Trademark Office
("USPTO").
The applications cover systems, methods, and materials for
improving the quality, consistency, and compostability of
plant-based packaging. Moreover, the applications cover significant
improvements in the design and function of single-serve coffee pods
used in major single-serve coffee machines.
"The filing of these provisional patent
applications validates our intention to create innovative solutions
that address challenges in the compostable-packaging industry,"
said CEO of NEXE Darren Footz. "Our IP portfolio
reflects the substantial research and development in the materials,
design, and manufacturing of the NEXE pod. By incorporating these
inventions into various aspects of our business, we continue to
make progress on our commitment to reduce the environmental impact
of plastic packaging."
NEXE Chief Scientific Officer Dr. Zachary Hudson commented, "We are
proud of the achievements of our product engineering team and their
ability to consistently demonstrate creative problem-solving and
find novel improvements to our technology. These inventions were
made possible by our ability to rapidly prototype new product
designs and immediately test them in real-world scenarios."
The 10 provisional patent applications were filed between
May 2020 and January 2021.
About NEXE Innovations Inc.
NEXE Innovations Inc. is a leader in plant-based compostable
technology and advanced materials innovation 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 existing major single-serve
coffee machines. The proprietary NEXE pod is designed to reduce the
significant environmental impact caused by single-serve pods (+40
billion plastic pods discarded every year). With over $35M raised (equity and government funding) to
date 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.
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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, 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.
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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SOURCE Nexe Innovations Inc.