Xeriant announces First Major LOI for Retacell®-based Wall Panels and additional Building Materials, with potential value at over $250 Million
BOCA RATON, Fla., Sept. 06, 2022 (GLOBE NEWSWIRE) — Xeriant, Inc. (OTCQB: XERI) (“Xeriant” or “the Company”), a company dedicated to the discovery and development of advanced materials and technology, recently signed its first major Letter of Intent (“LOI”) with Next New Concept (“NNC”) for the purchase of up to $130 million of Xeriant’s Retacell®-based wall panels, for a 35,000-unit residential development project in Africa, anticipated to be completed within five years.
NNC has now expressed interest in acquiring additional building products through Xeriant, including doors coated with Retacell®-infused paint. The project between NNC and Xeriant could now generate more than $250 million in revenue for Xeriant beginning in 2023. NNC is an innovator in environmentally friendly, quickly constructed building systems for affordable quality housing.
“Advancing the Next New Concept agreement marks a key milestone for Xeriant and is a major step forward for our Retacell®-based wall panels. This project will not only open up new opportunities for our wall panels, it will help us establish a solid foundation for some of the other agreements that we’ve been working on,” stated Keith Duffy, CEO of Xeriant.
Retacell® is a biodegradable and nontoxic 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 or treatment or infused during manufacturing into a variety of materials, including recycled plastics and wood-based fiber. Retacell®-infused materials are also water repellent.
About Next New Concept, Inc.
Next New Concept, Inc. (NNC™ branded) is a vertically integrated design, marketing, manufacturing, and sub-contractor construction company launching its patent pending, whole house alternative to wood frame construction. NNC™ teams deliver, assemble, and construct each new building envelope on build-ready slabs or foundations, serving as the SINGLE SOURCE product manufacturer and SINGLE SOURCE framing and insulation subcontractor. The NNC WHOLE HOUSE SOLUTION includes panelized exterior insulated walls, interior walls, trusses, and insulated roof deck; based on the Company’s patent pending structural aluminum building system.
For more information, please go to www.nextnewconcept.com
About Xeriant, Inc.
Xeriant, Inc. is a holding and operating company dedicated to the discovery and development 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
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