BOCA RATON, Fla., March 02, 2023 (GLOBE NEWSWIRE) -- Xeriant, Inc. (OTCQB: XERI) (“Xeriant” or “the Company”), a Company dedicated to the discovery, development and commercialization of advanced materials and aerospace technologies, announces an update regarding the future production of NEXBOARD™, the flame-, water-, mold- and insect-resistant building panel set to replace products such as drywall, plywood, OSB, MDF and MgO board for new and retrofit construction.
Over the past several months, the Xeriant team has been assessing U.S. manufacturing facilities in the New York tri-state area to determine their capabilities for producing the NEXBOARD™ panels. Xeriant recognizes that choosing the right manufacturing facility is an important decision which can have a significant impact on the success of its business and is taking several factors into consideration, including location, level of quality control, capacity, equipment and technology, workforce, cost of production, and availability of materials, among other things.
“Most of our time has been spent in the New York tri-state area, which has an abundance of feedstock for the NEXBOARD™ product, is one of the largest consumer markets in the world, has world class infrastructure including railways and seaports, as well as a range of state-sponsored incentives and resources to help manufacturing companies grow and succeed,” stated Keith Duffy, CEO of Xeriant.
Dave Zajac, Managing Director of Xeriant’s Advanced Chemicals and Materials Division, commented, “We’re happy to have chosen a manufacturing facility to run a small-scale production trial, which will manufacture up to forty 4’ x 8’ wallboards in varying thicknesses, using up to four different flame-retardants for testing purposes. A large U.S.-based homebuilder is standing by to receive the test samples, which may determine their level of interest in pursuing a large purchase order or a licensing arrangement for a dedicated full-scale production facility.”
About Xeriant, Inc.
Xeriant, Inc. is a holding and operating company dedicated to the discovery, development and commercialization of advanced materials and technology related to next generation air and spacecraft, which can be successfully integrated and commercialized for deployment across multiple industrial sectors. We seek to partner with and acquire strategic interests in visionary companies that accelerate this mission. Xeriant is located at the Research Park at Florida Atlantic University in Boca Raton, Florida adjacent to the Boca Raton Airport.
For more information, please go to www.xeriant.com
SAFE HARBOR FORWARD-LOOKING STATEMENTS
In connection with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Xeriant, Inc. is hereby providing cautionary statements identifying important factors that could cause our actual results to differ materially from those projected in forward-looking statements (as defined in such act). Any statements that are not historical facts and that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, indicated through the use of words or phrases such as “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimated,” “intends,” “plans,” “believes” and “projects”) may be forward-looking and may involve estimates and uncertainties which could cause actual results to differ materially from those expressed in the forward-looking statements. These statements include, but are not limited to, our expectations concerning our ability to attract investors.
We caution that the factors described herein could cause actual results to differ materially from those expressed in any forward-looking statements we make, and investors should not place undue reliance on any such forward-looking statements. Further, any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of anticipated or unanticipated events or circumstances. New factors emerge from time to time, and it is not possible for us to predict all such factors. Further, we cannot assess the impact of each such factor on our results of operations or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.
This press release does not constitute an offer of any securities for sale.
Xeriant, Inc.
Investor Relations Dept.:
(561) 491-9595
IR@xeriant.com
www.xeriant.com
