Nepra Foods Expands Its Footprint with New State-of-the-Art Production Facility and Multi-Media Enabled Innovation Kitchen
*Prioritizing growth and innovation, Nepra expands 31,000 square foot production facility and R&D kitchen.*
*VANCOUVER, BC / ACCESSWIRE / October 21, 2021 /* Nepra Foods Inc. (the "*Company*" or "*Nepra*") (CSE:NPRA), creator of nutritious plant-based and allergen-free food, commits to innovation and expansion by starting major construction of an expanded production area and research and development facility. In January 2021, our subsidiary, Nepra Foods, Ltd., signed a 10-year lease on a new 31,000 square foot facility in Centennial, Colorado, in the southern part of the greater Denver Metro area. Leasing this new facility and the completion of the state-of-the-art build out is part of Nepra's phased growth strategy, which will enable Nepra to increase manufacturing output and expedite the development of innovative new products.
Approximately 3,000 square feet of the building will be dedicated to research and product development in a fully equipped laboratory kitchen. It will serve as a secure facility for the development of Nepra's proprietary products and technologies. Additional production facilities are being constructed for a custom dry ingredient blending facility for existing B2B customers who use Nepra's ingredients as well as blends for Nepra's proprietary consumer branded products. Additional construction will expand production capabilities to meet the ever-increasing demand for the Company's proprietary hemp ingredients.
According to retail sales data, plant-based food sales grew 27% in 2020, with 57% of all U.S. households purchasing plant-based foods[1]. Furthermore, plant-based food sales increased nearly 2.5 times faster than total food sales from 2018 to 2020[2]. As this shift in consumer preference for plant-based foods continues to gain steam, Nepra is excited to join other industry leaders like Beyond Meat (NASDAQ: BYND) in their commitment to expansion of their plant-based production capacities[3].
"This new, dedicated space gives our team of world-class experts, led by Chief Technology Officer Chadwick White, the secure working environment they need for research, development, and testing while protecting the confidentiality of our intellectual property," says Nepra CEO, David Wood. "It also provides much-needed real estate to meet our production goals."
Nepra's proprietary hemp-based proteins are used in their current consumer marketed plant-based meats, dairy alternatives, and baked snacks, and the proteins are also sold as B2B ingredients. In addition, the facility construction allows expansion within the other established B2B categories, including Essential Blends™, Essential Flours™, and Rheoflex®. Nepra is targeting alternative sweeteners, alternative chocolates, and fermented foods for future development.
This new facility will help Nepra achieve its goal of producing nutritious food that is accessible to a large segment of the population. Everything Nepra creates is plant-based, allergen-free, and gluten-free.
*About Nepra Foods*
Nepra Foods is grounded in a passion for food. We believe eating healthy shouldn't be difficult. Everybody deserves food options that are truly nutritious and taste good. Food shouldn't contain allergens that might prevent everybody in the family from enjoying it together. People shouldn't have to compromise quality and taste in what they eat even if they are trying to cut down on carbs, don't tolerate gluten or dairy very well, or don't want to eat food produced from animals. Nepra Foods is on a mission to make healthy, enjoyable food for everybody.
Visit the Nepra Foods website for additional information.
*Media Contact*
Investor Relations
Investors@neprafoods.com
Toll-Free: 844 566-1917
The CSE has neither approved nor disapproved the contents of this news release. The CSE does not accept responsibility for the adequacy or accuracy of this release.
*Forward-Looking Statements*
This news release contains statements and information that, to the extent that they are not historical fact, constitute "forward-looking information" within the meaning of applicable securities legislation. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect.
Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information, including, but not limited to, the statements relating to the Company's financial performance, business development and results of operations. Accordingly, readers should not place undue reliance on any such forward-looking information. Further, any forward-looking statement speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for the Company's management to predict all of such factors and to assess in advance the impact of each such factor on the Company's business 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. The Company does not undertake any obligation to update any forward-looking information to reflect information, events, results, circumstances or otherwise after the date hereof or to reflect the occurrence of unanticipated events, except as required by law including securities laws.
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[1] Plant Based Foods Association. Retail Sales Data.
[2]Good Food Institute. U.S. retail market data for the plant-based industry.
[3] Global Plant Based Meat Market Report: Research and Markets (2021, April 2). Global Plant Based Meat Market Report 2021-2027: Market is Forecast to Reach $14.9 Billion - Opportunities in Innovation.
*SOURCE:* Nepra Foods
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