NEXE Innovations Inc (TSX-V:NEXE, OTC:NEXNF) has announced that both its NEXE Coffee and XOMA Superfoods compostable single-serve pods are now for sale via Amazon Prime on Amazon.com.
"Amazon is the world's leading e-commerce retailer, with over 200 million global Prime subscribers. When consumers make a decision to make a purchase online, they often go to Amazon, and specifically, Prime," said Ash Guglani, president of NEXE in a statement.
"We see this launch as a meaningful way to gain consistent online sales, especially with our recent subscription offering, which will complement our upcoming brick and mortar retailer sales strategy for NEXE Coffee. Consumers continue to turn to environmentally-sound alternatives to plastic. NEXE offers a truly sustainable solution to the approximately 60 billion pods that are consumed annually," he added.
The NEXE boss added that the group was continuing "to focus on adding manufacturing capacity at both of our facilities, which will bring us closer to back-filling sales as we continue discussions with various retailers and wholesalers".
READ: NEXE receives first XOMA Superfoods order under distributor deal with PSC Natural Foods
The NEXE Coffee line comes in both Keurig and Nespresso compatible pods, with the latter suite including Dark Roast Espresso, French Roast, and Medium Roast, and comes in boxes of 10, 20, and 30.
NEXE's Xoma Superfoods line targets the health-savvy, environmentally-conscious consumer and includes both high-quality coffee and superfood creamers. Keto, MCT Coffee, Turmeric, Matcha, and Cocoa Keto SKUs are packaged in the fully-compostable NEXE Pod and come in packages of 12 and 48.
All of NEXE's premium coffee is organically and ethically grown by partners in Peru, Ethiopia, and Indonesia. Beans are ground and packaged at NEXE's Canadian facility
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 US$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.
Mordor Intelligence estimates that the single-serve coffee pod and capsule market was valued at US$25.07 billion in 2020, and is projected to register a compound annual growth rate (CAGR) of 7.07% between 2021 and 2026.
Contact the writer at giles@proactiveinvestors.com