June 10 news, according to foreign news, according to Poda founder and CEO Ryan Selby said that after six years of development, Poda Lifestyle and Wellness are ready to bring its revolutionary HNB products to the public. In a letter to shareholders, Selby detailed the company's recent achievements and shared his plans.
Poda was founded in January 2015 with a vision to create superior heat-not-burn (HnB) products. The company set out to address a major pain point in all HnB systems: cleanliness.
Selby says that after six years of technical design and refinement, it has launched a product that provides a powerful, delicious and consistent user experience.
"Poda is now basically the only company in the world that can produce closed HNB cigarettes," he said. Its Beyond Burn cartridge has been patented in more than 65 countries.
In addition, the company has developed a heat-resistant biodegradable material made from the cell walls of sustainably harvested plants. "This naturally derived, low-cost material allows us to produce patented Beyond Burn Poda Pods in an ethical and sustainable way," Selby said. Poda has filed patent protection for proprietary biodegradable plant cellulose materials used to manufacture closed HNB cigarettes and their proprietary manufacturing methods.
The company's smoke-free Beyond Burn Poda Pods contain a proprietary blend of tea and synthetic nicotine that provides the satisfaction and sensory experience of ordinary smoking without the need for smoke and cleanliness.
Recently, Poda signed a binding letter of intent with ESON to launch its products in China. Earlier this month, tobacco industry veteran Juan Manuel ("Jon") Ruiz joined Poda's strategy advisory committee. Luiz was a key senior executive at Philip Morris International at a time when PMI was developing its heat-not-burn products in-house.
"The experience and expertise Jon brings from the FMCG market is of extraordinary value to Poda," Selby said.
Less than two months ago, Poda's shares were listed on the Canadian Stock Exchange and the Frankfurt Stock Exchange, and the company is currently awaiting final approval for listing on the U.S. OTCQB exchange.
Meanwhile, Poda's pilot manufacturing facility is fully operational, producing more than 400,000 enclosed heated non-combustible cigarette units per month. "We have built this pilot plant to prove each of our manufacturing technologies, and I am pleased to report that we are now ready to expand our production capacity to almost any production volume," Selby said.
Over the next few months, Poda will actively pursue distribution opportunities in strategic locations around the world with carefully selected partners.
"As CEO, it is my responsibility to lead Poda towards our goal of becoming a major player in the global heat-free market," Selby said. "I know we have a great product, but it's not enough. We must make informed choices and take calculated risks to grow the company as quickly and sustainably as possible."