BOCA RATON, Fla., June 08, 2022 (GLOBE NEWSWIRE) -- Xeriant, Inc. (OTCQB: XERI) (“Xeriant” or the “Company”), an aerospace company dedicated to Advanced Air Mobility and associated specialty chemicals and materials, announced today the successful development of a multi-purpose, high-strength fire- and water-resistant composite panel made from a formulation of Retacell® and a cardboard fiber-reinforced polymeric resin, which can be sourced from recycled materials. The panel is fabricated through a compression molding process and may be produced or cut in varying thicknesses and sizes, including standard 48” x 96” sheets. Depending on the application, the panel can have different colors, textures or decorative finishes. Potential interior and exterior construction applications include walls, ceilings, flooring, framing, siding, roofing, and decking. The Company is planning to license the technology to major manufacturers of building products.
“We have been impressed with the Retacell panel’s performance and believe it can compete effectively with many of the building products on the market such as OSB, plywood, drywall, and engineered wood flooring, to name a few. The superior flexibility, resistance properties, insulating ability and mechanical strength of this product may also reduce the cost and complexity of SIP systems. Our team in Slovakia is currently testing the panel’s tensile and thermal properties for certification,” stated Keith Duffy, CEO of Xeriant.
According to Grand View Research, the global building materials market related to gypsum wallboards, plywood, OSB, flooring and siding was valued at USD 838.1 billion in 2021 and is forecasted to reach USD 1.092.4 billion by 2025. The green building materials market was valued at USD 256.5 billion in 2021 and is projected at USD 350.3 billion in 2025, based on a study by Allied Market Research.
Retacell is a biodegradable and non-toxic high-performance thermal and fire protection chemical agent that is custom formulated to meet each application’s specifications and can be applied as a coating, treatment, or infused during manufacturing into a variety of materials, including recycled plastics and wood-based fiber. Retacell-infused materials are also water repellent.
Cardboard is among the most easily recycled paper products, and the vast majority is recycled. Plastics or polymers are more difficult and more expensive to recycle due to the intensive process involving sanitary requirements, sorting, melting and pelletizing, and its value proposition relative to new plastic. The most common plastic and easiest to recycle is polyethylene (PE), which is often used in beverage bottles and food packaging. Other plastics that are recycled include polypropylene (PP), polystyrene (PS), polyvinyl chloride (PVC) and polyamide (PA). The World Bank estimates that approximately 2.1 billion metric tons of municipal solid waste is generated globally each year, 17 percent of which is from paper and cardboard (357 million metric tons), and 12 percent from plastics (252 million metric tons). An analysis by research firm Statista indicates that about 66 percent of the global paper and cardboard waste are recycled (236 million metric tons/year), and about 21 percent of the plastic waste (53 million metric tons/year). The EPA reports the recycling rate in the U.S. is about 68 percent for paper and cardboard, and 9 percent for plastics.
About Xeriant, Inc.
Xeriant, Inc. (d.b.a. Xeriant Aerospace) is an aerospace company dedicated to the emerging aviation market called Advanced Air Mobility (AAM), the transition to eco-friendly on-demand flight, and is partnering with and acquiring strategic interests in visionary companies that accelerate this mission. Xeriant is focused on the development and deployment of next-generation electrically powered aircraft capable of vertical takeoff and landing (VTOL), breakthrough technologies and advanced materials which can be successfully integrated and commercialized, and the critical infrastructure components needed to support operations. 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 that 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
