NEXE Innovations Inc (TSX-V:NEXE, OTC:NEXNF), a provider of compostable packaging, announced that it has made a delivery to its partner ecoBeans Coffee aimed at expanding its presence in both retail and office coffee services (OCS).
The two companies first partnered in 2023, with Vancouver-based ecoBeans utilizing NEXE's BPI-certified compostable coffee pods.
After positive feedback from initial product sales at various retailers, ecoBeans is now targeting broader retail distribution, including Nature's Fare Markets and select Save on Foods locations, as well as expanding its online presence.
Additionally, ecoBeans will offer the products through Thirst First Refreshments in the OCS sector.
"We are looking forward to continuing our partnership with ecoBeans and excited about the initial feedback received," NEXE president Ash Guglani commented.
"This is a great opportunity for NEXE to increase awareness of its offerings in both the retail and OCS market segments."
Alina Gogoescu, ecoBeans Coffee founder, expressed excitement over the brand’s relaunch with new packaging.
"Here's to brewing a better future together! In partnership with NEXE Innovations and their BPI-Certified compostable coffee pods, we are excited to 'Brew More, Do More' for our planet, ourselves, and our families,” Gogoescu said.
Investors welcomed the update, sending NEXE’s Canadian-listed shares up 8.4% on Thursday morning, while its US-listed stock added 3.5%.