NEXE Innovations Inc (CVE:NEXE) (OTCMKTS:NEXNF) (FRA:NX5), a leader in plant-based compostable technology and advanced materials innovation, on Tuesday announced the expansion of its intellectual property (IP) portfolio.
In a statement, the Vancouver-based company said that over the last eight months, the company has filed 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 company said the applications cover “significant improvements” in the design and function of single-serve coffee pods used in major single-serve coffee machines.
READ: NEXE divulges rapid plant expansion, doubling its operating footprint
"The filing of these provisional patent applications validates our intention to create innovative solutions that address challenges in the compostable-packaging industry," said NEXE Innovations CEO 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."
According to the company, the 10 provisional patent applications were filed between May 2020 and January 2021.
NEXE Chief Scientific Officer Dr Zachary Hudson noted that the company is “proud” of the achievements of its “product engineering team and their ability to consistently demonstrate creative problem-solving” and find new improvements to the firm’s technology.
"These inventions were made possible by our ability to rapidly prototype new product designs and immediately test them in real-world scenarios," added Hudson.
The Canadian 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 NEXE pod is designed to reduce the significant environmental impact caused by single-serve pods. According to the company, more than 40 billion plastic pods are discarded every year.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
Follow her on Twitter: @UttaraProactive