John Sylvan invented the K-Cup — the ubiquitous single-serve plastic coffee pod — but the Boston-based inventor regrets his creation now because of their environmental impact.
An estimated 56 billion coffee pods are sent to landfills annually.
Vancouver’s Nexe Innovations (TSXV:NEXE) is trying to change that.
NEXE’s flagship product is its plant-based coffee pods, which are compatible with leading single-serve coffee format machines, are non-toxic in soils and are fully-compostable in as little as 35 days. The technology has been developed over five years and is gaining tremendous interest in the market.
Today NEXE announced that it is vertically integrating its manufacturing and moving its production entirely to Canada.
“The COVID-19 pandemic has highlighted supply chain vulnerabilities around the globe, and by increasing vertical integration in our production, we can reduce or eliminate many uncertainties in production as NEXE scales up. NEXE also anticipates accelerated revenue growth, improved IP protection and higher operating margins as a result of these initiatives,” said NEXE CEO, Darren Footz.
“Over the last 5 years, we have built our IP by investing in every step of the production process, and now we are bringing this same forward thinking to more aspects of our supply chain. Over the last six months we have begun acquiring sophisticated machinery to mold our proprietary capsules and produce our plant-based materials in-house.”
According to today’s announcement NEXE has received substantial commercial interest for its single-serve beverage pods and anticipates that this interest will continue to grow, making manufacturing capacity and reliability of paramount importance.
In addition to its current and planned high-speed assembly lines, the company has begun upgrading its facility for the production of bio-based materials and bio-based parts.
“By upgrading plant operations to produce plant-based resins and parts in-house using proven technology, NEXE will have greater control over product development from conception to manufacturing. NEXE’s upgraded facility will be fully devoted to the production of its compostable single-serve beverage pods including our upcoming XOMA Superfoods line, reducing the time needed to rapidly scale the technology,” said Ash Guglani, President of NEXE.
“This in-house expertise will also provide us with additional opportunities to leverage licensing opportunities with best-in-breed manufacturers in other verticals to further monetize our IP in plant-based materials.”
[…] NEXE Brings Manufacturing Of Plant-based Coffee Pods Home … […]