New Technology Reduces Plastic Parts Frequently Used in Packaging and is anticipated to Generate Cost Savings by Reducing Production Time and Oxidation of Coffee Beans; Company to Co-Market in U.S. and Mexico
RICHARDSON, Texas, March 1, 2023 /PRNewswire/ -- NuZee, Inc. (NASDAQ: NUZE), a leading innovator in coffee technology and co-packer of single serve specialty coffee formats, announces today a partnership agreement to market a new, patented Japanese technology, TiMELESS®, in the U.S. and Mexico. TiMELESS is a new flexible film sealing technology that eliminates the need for one-way plastic degassing valves, which are very common in the coffee packing, pet food, and other various industries.
TiMELESS was developed in 2018 by MIB Co., Ltd., a Tokyo-headquartered trading company specializing in the production and sale of packaging and packages, in collaboration with Nagase & Co., Ltd., one of Japan's largest publicly traded companies. As part of the joint marketing agreement, NuZee will introduce TiMELESS technology and packaging using the TiMELESS technology to its customers in the U.S. and Mexico.
According to Nagase & Co., Ltd., the amount of one-way degassing valve consumption in North America was 1.85B per year as of 2022 and is expected to increase to 2.5B per year by 2028. NuZee, MIB and Nagase are working together to reduce that number to as close to zero as possible. The global coffee one-way valve market is estimated to be worth $274M annually and is expected to climb to $366M by 2028.
Currently, when packing roasted coffee, one-way plastic valves are commonly used for degassing, which allows the coffee to stay fresher, longer. TiMELESS's proprietary degassing technology works by imprinting the proprietary TiMELESS pattern onto coffee bags, allowing only the air inside the package to escape while keeping out external air. The TiMELESS pattern, consisting of miniature holes, coupled with the method of impression stamped onto the film, makes this technology function. In North America, about 1.85 billion plastic valves (1.38B for Bagged Coffee, 400M for Fermented Food in 2022) are consumed annually, and typically make their way to landfills. By utilizing the TiMELESS technology in place of plastic valves, NuZee believes that it will reduce overall plastic waste.
"TiMELESS technology has the dual advantage of helping to ensure optimum freshness in our U.S. and Mexico coffee products while simultaneously contributing to the reduction of plastics and providing more eco-conscious coffee to the world," says Masa Higashida, CEO at NuZee.
"The first time I saw a plastic valve on coffee bag was 12 years ago. I felt uncomfortable about why the valve was attached, so I started developing a technology to remove the valve. That's TiMELESS. However, it was not so easy to invent a structure to replace the valve, and we continued try and error for 12 years. Finally, TiMELESS became technology that gives degassing function, and keeps low oxygen level. We are developing TiMELESS technology, to deliver good coffee in eco-friendly packaging with our original degassing technology," stated MIB Co.,Ltd. CEO, Toru Watanabe.
Nagase & Co., Ltd. Section Manager, Tadatsugu Tazo continued, "TiMELESS is an innovative technology and we are very excited to bring this technology to the U.S. coffee market with NuZee."
NuZee is in discussions with some of the top coffee manufacturers in the US and Mexico to implement TiMELESS bag sealing technology which could eliminate the need for one-way degassing valves.
To learn how to work with NuZee, visitwww.mynuzee.com.
About Nagase & Co, Ltd
NAGASE & CO., LTD. is a chemicals trading firm, founded in Kyoto, Japan in 1832. The NAGASE Group began as a specialized sales agent securing exclusive contracts to sell industry-leading products from around the world in Japan. Over the years, we have leveraged our technology and information gathering expertise —as well as our global network—to transform our business into a hybrid model offering superior manufacturing, processing, and R&D functions as well as trading company services. Looking forward to our 200th anniversary in the year 2032, we will contribute to the society as a Business Designer that creates a sustainable future.
About MIB Co., Ltd / TiMELESS®
TiMELESS® is a gas control technology jointly developed by MIB Co., Ltd. and NAGASE & CO and patented by MIB in Japan that can be applied to film and paper packaging materials. By creating microscopic channels in the sealing portion of the packaging film to control gases inside the bag, it is possible to maintain the freshness of produce and other contents and to deaerate the bag. The technology is expected to reduce food waste, is environmentally friendly, and is expected to be deployed globally. Nagase is the exclusive distributor for this technology.
About NuZee Coffee
NuZee, Inc., (NASDAQ: NUZE), is a leading co-packing company for single serve coffee formats that partners with companies of all sizes to help them develop within the single serve and private label coffee category. Providing innovative and eco-conscious solutions with the flexibility and capacity for both small roasters and large global brands, NuZee is revolutionizing the way single serve coffee is enjoyed in the United States. Through the brand's unique process, NuZee fulfills every aspect of co-packing needs, from roasting and blending, to packing and packaging.
Forward-looking Statements
This press release contains forward-looking statements that are made pursuant to the safe harbor provisions within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. NuZee cautions you that such statements are simply predictions and actual events or results may differ materially. These statements reflect NuZee's current expectations and NuZee does not undertake to update or revise these forward-looking statements, even if experience or future changes make it clear that any projected results expressed or implied in this or other NuZee statements will not be realized. Further, these statements involve risks and uncertainties, many of which are beyond NuZee's control, which could cause actual results to differ materially from the forward-looking statements. These risks and uncertainties, many of which are beyond our control, include: NuZee's plan to obtain funding for its operations, including funding necessary to develop, manufacture and commercialize its products; the impact to NuZee's business from COVID 19 global crisis; general market acceptance of and demand for NuZee's products; and NuZee's commercialization, marketing and manufacturing capabilities and strategy; for description of additional factors that may cause NuZee's actual results, performance or expectations to differ from any forward looking statements, please review the information set forth in the 'Risk Factors' and " Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the NuZee's public reports and NuZee's other filings made with the SEC.
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SOURCE NuZee, Inc.
