Company’s Eco-friendly Construction Panels Well-Positioned to Meet Growing Need for Safe, Affordable Housing
BOCA RATON, Fla., June 25, 2024 (GLOBE NEWSWIRE) — Xeriant, Inc. (OTCQB: XERI) (“Xeriant” or “the Company”), a company dedicated to the discovery, development and commercialization of aerospace technologies and advanced materials, provided an update on the production and certification of its eco-friendly NEXBOARD construction panels. Over the past several months, Xeriant executed its second successful pilot production run of its full-size 4’x8’ panels using a U.S. contract manufacturer, which was designated for testing and to provide samples to national homebuilders. Following dozens of internal and third-party tests, the Company has greatly improved the panel’s properties, and is now finalizing critical modifications to the filler composition to improve the panel’s weight and rigidity.
The third NEXBOARD pilot production run of its full-size 4’x8’ panels, scheduled for mid-July, will be monitored and documented by one of the leading accredited testing and certification agencies. The next major milestone, which the Company has been diligently working toward, will be passing the 15-minute NFPA 286 “corner room” test, an extremely demanding fire test used to evaluate fire safety performance related to flame spread, smoke production and heat release.
Pending NEXBOARD’s NFPA 286 certification, the Company will begin the commercial phase of production via a contract manufacturer followed by the financing and buildout of multiple large-scale manufacturing centers strategically located throughout the U.S. to meet the needs of its current clients.
“A couple of weeks ago, our quarter inch thick 4’x8’ NEXBOARD construction panels completed an 11-minute NFPA 286 trial test that was requested by a national homebuilder who was pleased with the results. This first 286 test provided valuable data needed to refine the panel’s composition to meet specific code requirements and achieve certification. We are confident that NEXBOARD will meet the highest building standards in the U.S. for their prescribed applications,” commented Keith Duffy, CEO of Xeriant.
A top White House economist recently announced the federal government’s goal of creating two million affordable homes in an ambitious program to address the national housing crisis. With Xeriant’s eco-friendly NEXBOARD on the verge of certification, production, and commercialization, the Company is well-positioned to play a leading role in this national effort.
NEXBOARD is at the forefront of the rapidly growing green construction materials market, projected to reach $1.2 trillion by 2032 according to Fortune Business Insights. The robust development of next-generation building products is driven by the need for eco-friendly alternatives that address unsustainable environmental trends, as well as the pursuit of greater durability and longevity compared with current conventional products. The construction industry uses about 60 percent of all natural resources, either directly or indirectly (The Constructor), while contributing about 33 percent of waste (International Solid Waste Association) and 40 percent of CO2 emissions (World Economic Forum).
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’s advanced materials line is marketed under the DUREVER™ brand, and includes NEXBOARD™, an eco-friendly, patent-pending composite construction panel made from plastic and fiber waste, designed to replace products such as drywall, plywood, OSB, MDF, MgO board and other materials used in construction. 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
Xeriant.com
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