NEXE Innovations Inc (TSX-V:NEXE, OTC:NEXNF) has announced that PSC Natural Foods Ltd has placed its first purchase order for all five varieties of its XOMA Superfoods beverages for retail distribution.
The company noted that PSC, part of Horizon Distributors Ltd, is a leading natural and organic foods distributor focusing on grocery and wellness with a network of over 200 stores serving Vancouver Island and the Lower Mainland in British Columbia.
"We are excited to partner with PSC to provide consumers access to our nutrient-dense, fully compostable and Keurig single-serve brewing systems compatible superfood beverages," NEXE president Ash Guglani said in a statement.
"As we expand our distribution network, we are able to better increase our market presence and continue showcasing our XOMA Superfoods line creating a strong base for expansion in the North American marketplace. The fact that PSC has already placed their first order shows their mutual excitement for this innovative and unique line of superfood products," he added.
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NEXE noted that all five XOMA Superfoods product lines included in the distribution deal are sold in packages of 12 pods and are compatible with Keurig single-serve brewing systems.
According to global market research and consulting company KBV Research, the company said the superfood market is projected to reach US$209.1 billion by 2026 with a compound annual growth rate of 7.3%.
"All XOMA Superfoods products are packaged in our signature NEXE Pods, which are made of plant-based materials and sustainably manufactured in North America,” Guglani continued. "Our fully compostable pods have been introduced at a key time when our competitors are being fined for greenwashing and worldwide legislation is continually being introduced against single-use plastics.”
NEXE explained that its beverage pods can be disposed of immediately after use, leave no mess, and do not need to be disassembled before composting, making it convenient to integrate more plant-based products into your life.
“The pods could break down completely in municipal compost facilities in as few as 35 days," Guglani concluded.
NEXE Innovations is a plant-based compostable technology and advanced materials manufacturer based in British Columbia, Canada. The company has developed one of the only patented, fully compostable, plant-based, single-serve coffee pods in leading single-serve coffee machines.
The company's proprietary NEXE pod is designed to reduce the significant environmental impact caused by single-serve pods, more than 50 billion of which are discarded every year. With over $60 million raised to date from equity and government funding and more than 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.
Contact the author at stephen.gunnion@proactiveinvestors.com