Business
NEXE Innovations' Windsor site on target to be in production early 2023
NEXE Innovations' Windsor site on target to be in production early 2023 Canada NewsWire...
About this update from Nexe Innovations Inc
[{"type":"text","content":"\n \n \n \n NEXE Innovations' Windsor site on target to be in production early 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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Dec. 15, 2022\n \n \n /CNW/ - NEXE Innovations Inc. (\"NEXE\" or the \"Company\") (TSXV: NEXE) (Frankfurt: NX5) (OTC: NEXNF) - As we close out 2022, we reflect on what we have accomplished to date – the launch of our disruptive and proprietary fully compostable single-serve coffee pod and transitioning from an outsourced manufacturing process to an in-house component manufacturing process.\n \n \n In\n \n January 2022\n \n , NEXE purchased a 54,000 square foot facility in\n \n Windsor, Ontario\n \n to support the development of a vertically integrated manufacturing operation. With a focus on de-risking the supply chain and improving our margins, we continue to work with world class vendors and integrators to develop processes for our highly customized equipment to manufacture key components in-house. Once complete, we expect to control our manufacturing process end to end.\n \n \n There are numerous advantages of transitioning to a vertically integrated operation and onshoring, including limited supply chain risks, protecting our IP, higher operating margins, and lowering our carbon footprint. One key advantage has been to accelerate the R&D process in-house, which has led to additional enhancements to our compostable materials, resulting in the NEXE pod composting in as little as 17 days, down from 35 days in an industrial composting facility.\n \n \n \n \n \n \n \n \n \n We are targeting to be in production early 2023 in the\n \n Windsor\n \n facility, with both component and finished goods manufacturing. With the hiring of\n \n Chris Murray\n \n , an experienced senior sales leader, the main areas of focus for 2023 will be scaling our operations and sales. Chris has 20+ years of extensive experience in the coffee and consumer packaged goods (CPG) industry in\n \n Canada\n \n and the U.S. NEXE is currently in active discussions with various potential...