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NEXE Innovations Announces Financial Results for the Twelve-Month Period Ended May 31, 2023
NEXE Innovations Announces Financial Results for the Twelve-Month Period Ended May 31, 2023 ...
About this update from Nexe Innovations Inc
[{"type":"text","content":"\n \n \n \n NEXE Innovations Announces Financial Results for the Twelve-Month Period Ended May 31, 2023\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n NEXE Closes Out a Successful Year Having Moved Into Production and the Next Phase of Operations\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Sept. 28, 2023\n \n \n /CNW/ - NEXE Innovations Inc. (\"NEXE\" or the \"Company\") (TSXV: NEXE) (Frankfurt: NX5) (OTC: NEXNF), a compostable and innovative materials company, is pleased to announce its financial results for the twelve-month and three-month period ended\n \n May 31, 2023\n \n (\"Q4 2023\").\n \n \n \n \n \n \n \n \n \n Fiscal 2023 was a pivotal year for NEXE Innovations, with several key accomplishments. The Company has transitioned into production and, subsequent to year-end, as previously announced, has onboarded three co-manufacturing customers – a key segment for NEXE.\n \n \n \n 2023 Accomplishments:\n \n \n \n \n During the year,\n \n NEXE completed building its Windsor Facility and transitioned to an in-house, end-to-end manufacturing process\n \n where the new facility is equipped for compounding resin, injection molding key components of NEXE's proprietary, single-serve beverage pods, and dosing and sealing the pods for commercialization. The Company received its occupancy permit, installed and tested key equipment, and started to build out the operations team in\n \n March 2023\n \n . By the end of July, the Windsor Facility was fully commissioned to produce food-grade components for its proprietary single-serve beverage pods, hired key personnel, and the Company moved into production.\n \n \n \n \n \n NEXE successfully met the stringent testing requirements for certification from the Biodegradable Products Institute (BPI) for its fully compostable, single-serve beverage pod and associated components at the end of\n \n June 2023\n \n .\n \n The BPI certification is a third–party verification of ASTM D6400 and D6868 standards for compostable products. Be...