MUNICH, January 11, 2016 /PRNewswire/ --
XOLUTION GmbH announced today the successful closure of a €45M equity investment round with INVENTURE Management Pte. Ltd., Singapore to fund the production capacity increase for XOLUTION'S next generation XO2.0 resealable beverage can technology in order to meet global market demand. XOLUTION plans to use the investment proceeds to increase its world-wide production capacity to over 1 billion can-ends annually.
INVENTURE brings to XOLUTION an extensive manufacturing experience from the aluminum can and plastics industry. Its focus is in packaging solutions and more specifically with multinational beverage companies and brands in its portfolio.
In order to meet the market demand from global and regional beverage brands for its next generation XO2.0 resealable beverage can-end technology, XOLUTION has partnered with world class suppliers such as ALPLA, HEKUMA, and Z-MOLDS, to design and roll-out over 1 billion lids annually. The new XO production architecture are designed as fully automated, independent production units, which can each produce up to 200M XO can-ends per year. XOLUTION plans to locate these production units in Europe, the USA, the Middle East and Asia.
The XO system is a revolutionary and innovative solution for beverage cans ranging from 200ml to 1 litre, enabling beverage cans to be resealed multiple times and enjoyed at leisure. Unlike conventional beverage cans, which can only be opened once, XO equipped beverage cans have lids with an integrated plastic opening mechanism that enables the can to be resealed and portioned for later consumption. A tamper-proof seal covers and secures the opening strap and breaks when initially opened, providing consumers with a guarantee that the can has not been previously opened. When driving a car, playing sport or shopping - beverages will remain perfectly fresh and carbonated. Resealed cans are also pressure stable and entirely gas- as well as liquid- tight - so there is no risk of spilling or dripping. The system is suitable for a wide variety of beverages and can be used in existing filling lines without major modifications or capital investment. The XO system is currently enjoyed by consumers in a number of markets around the world.
"The equity investment by INVENTURE will help facilitate our growth as we look to capitalize on multiple opportunities within the global beverage can marketplace," said Marc von Rettberg, Chief Executive Officer, XOLUTION. "It took more than six years of intense R&D to finish the current XO re-sealable can end design, which is able to withstand even the toughest demands on a beverage can. We are confident that the current XO can-ends will provide consumers with the opportunity to take their favorite beverage can anywhere they want to go. This investment also enables us to continue new development projects in order to supply the beverage can industry with innovative packaging solutions."
INVENTURE joins forces with XOLUTION's current major shareholder INVENTAGES Venture Capital (one of the world's few venture capital firms with a focus on innovation of this kind) to provide a solution for some of the last remaining challenges in the aluminum beverage can industry: portion-control and resealability. Erich Sieber, INVENTAGES, commented: "I am extremely happy that we now have on our side an investor who will support making XOLUTION the most innovative player in the 330bn annual aluminum can industry."
"We are excited INVENTURE decided to invest in XOLUTION and fully share our vision. Resealability and portion-control have been the "holy grail" in this industry. Around the world, consumers are demanding packaging solutions that fit their life styles and XOLUTION's technology is by far the most advanced and scalable solution in this space. We're looking forward to working closely with INVENTURE to change the way people use beverage cans in the future," says John R. Friedery, former President of Ball Corporation's metal beverage packaging business in the Americas and Asia, and XOLUTION's current Chairman.
XOLUTION GmbH was founded in 2003 and has sales/representative offices in the U.S.A., the People's Republic of China and in Russia, to drive the company's aggressive expansion plans.
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SOURCE XOLUTION GmbH