XOLUTION is getting ready to spread its resealable beverage can technology worldwide, by increasing annual production capacity to 1 billion can-ends. The German company has, in fact, closed a €45 million (NZ$75.6m) equity investment round with Inventure Management in Singapore to fund its own production capacity increase.
XO can-ends feature a plastic opening mechanism that makes cans handy while traveling, driving or playing sport, by enabling them to be resealed and portioned for later consumption. The current XO resealable design took over six years in the making, and XOLUTION is now keen to launch its next generation XO2.0 technology.
“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,” said Marc von Rettberg, CEO at XOLUTION. “This equity investment by Inventure will help facilitate our growth as we look to capitalise on multiple opportunities within the global beverage can marketplace. It also enables us to continue new development projects in order to supply the beverage can industry with innovative packaging solutions.”
New production facilities are to be built in Asia, the US, Europe and the Middle East.