Xolution secures deal to meet demand
Xolution have announced the successful closure of a £45 million equity investment round with Iventure management, Singapore to fund the production capacity increase for its 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 production capacity to over 1 billion can ends annually. Inventure brings to Xolution an extensive manufacturing experience from the aluminium can and plastics industry. Its focus is in packing solutions and more specifically with multinational beverage companies and brands in it portfolio.
In order to meet the market demand from global and regional beverage brands it has partnered with world class suppliers such as Alpa, Hekuma, and Z-molds, to design and roll out 1 billion lids annually.
Marc von Rettberg, chief executive officer at Xolution, says: “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 favourite 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.”
Iventure joins forces with Xolution’s current shareholder Inventages Venture Capital to provide a solution for some of the last remaining challenges in the can industry: portion control and resealability.
Erich Sieber at Inventages, explains: “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 aluminium can industry.”
John Friedery, former president of Ball Corporation and Xolution’s current chairman, adds: “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 lifestyles and Xolution’s technology is by far the most advanced and scalable solution in this space. We’re looking forward to working closely with Inventureto change the way people use beverage cans in the future.”