XERI - Xeriant Reveals Plan to Scale-Up Manufacturing of NEXBOARD™ | Benzinga
BOCA RATON, Fla., July 02, 2024 (GLOBE NEWSWIRE) -- Xeriant, Inc. (OTCQB:XERI) ("Xeriant" or "the Company"), a company dedicated to the discovery, development and commercialization of aerospace technologies and advanced materials, provides an update on its plans to scale-up manufacturing of its eco-friendly NEXBOARD construction panels following its final pilot production run.
Xeriant has taken critical steps toward financing and setting up dedicated production facilities, including the selection of specialized equipment and visiting potential sites for its first manufacturing location. During the R & D phase, the Company has been working with a contract manufacturer whose equipment has limitations when compared with a customized production line. Recently, Xeriant attended NPE2024, one of the largest plastics industry conventions in the world, where the theme was recycling plastics and sustainability. Xeriant had numerous meetings with manufacturers that provide the specialized machinery needed to make NEXBOARD. The Company has also been in discussions with investment bankers regarding financing for its manufacturing facilities using tax-free "green" bonds.
"The Company is currently developing its plans for dedicated production facilities, including equipment, plant layout, locations, and financing. We are looking forward to having customized manufacturing plants that can meet the market demand from homebuilders who have committed to using our wallboards," commented Keith Duffy, CEO of Xeriant.
NEXBOARD is at the forefront of the rapidly growing green construction materials market, projected to reach ...