TMF Corporation Exec Joins Xeriant to Head Up New Manufacturing Subsidiary for Green Building Materials

Tom Fitzgerald, Jr. to become VP of Composites Manufacturing

BOCA RATON, Fla., Aug. 08, 2023 (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, announces today that Tom Fitzgerald, Jr. has joined Xeriant as Vice President of Composites Manufacturing. In this position, Fitzgerald will be responsible for setting up operations and executing mass production of Xeriant’s green building materials under a newly formed subsidiary called BlueGreen Composites (“BlueGreen”). He was formerly Executive Vice President of TMF Corporation (“TMF”), an innovative plastic industrial products manufacturer based in Pennsylvania.

The announcement follows months of collaboration between Xeriant and TMF on the development of a high-volume, automated production method for DUREVER™ sustainable building materials such as NEXBOARD™ that is commensurate with Xeriant’s patent-pending composite formulation. NEXBOARD is Xeriant’s eco-friendly composite construction panel made primarily from recycled plastic and cardboard that is resistant to fire, water, insects and mold. Fitzgerald’s expertise in advanced composites manufacturing technologies, industry contacts for sourcing equipment and materials, and hands-on experience were pivotal in the determination of NEXBOARD’s proprietary manufacturing methodology.

“My goal for BlueGreen is to generate significant operating revenue while also creating carbon credits as we address the much-needed transition to sustainable building materials,” commented Fitzgerald. “We are making excellent progress on everything from part design to acquiring the machinery and raw materials critical to large-scale manufacturing. Our revised composite mix of plastic, fiber and fire retardant is being processed to run a new set of NEXBOARD prototype samples, which will be tested internally and then sent out to major homebuilders for review as the final step prior to signing sales agreements. By the end of the year, we plan to have our own custom-engineered machinery ready for production.”

Tom Fitzgerald, Jr. has been in the plastics manufacturing business for most of his life. Since 2016, he has been an executive with TMF, the plastics company his father founded 35 years ago. TMF started in the business by manufacturing plastic bread trays for McDonald’s and later expanded into plastic pallets, trash containers and FM Approved pallets. TMF is often recognized as a leading supplier in the global plastic pallets market. Fitzgerald was also CEO of a plastic utility sink manufacturer that sold through major retailers and has held several production management roles with plastics contract manufacturers.

“We are excited to have Tom on our team. Tom provided us with the manufacturing solution we needed to cost-effectively and uniformly mass-produce our NEXBOARD panels. Throughout his career, he has been an industry innovator, thinking out of the box and staying at the leading edge of composites technology. He has also been an advocate for repurposing waste materials and shifting to a circular economy. His knowledge and experience will be invaluable as we set up operations and ramp up our large-scale production,” stated Keith Duffy, CEO of Xeriant.

About TMF Corporation

Since 1988, TMF Corporation has been manufacturing and distributing high quality plastic containers and pallets for commercial and government clients. TMF prides itself on providing quality products and responsive support to its customers which have included major manufacturers in the auto, food, and pharmaceutical industries, as well as all levels of government. In 2004, TMF was one of the first manufacturers to have a FM Approved nontoxic fire-retardant product. In 2016, TMF started utilizing a nonhalogenated compound and received FM 4996 approval for its plastic fire-retardant pallets, delivering fire protection as good as or better than its wood counterpart. Now, some of the largest pharmaceutical companies, including Pfizer, GlaxoSmithKline and AstraZeneca, depend on TMF Corporation to meet their compliance requirements.

For more information, please go to www.tmfcorporation.com

About Xeriant, Inc.

Xeriant, Inc. is a company dedicated to the discovery, development and commercialization of emerging aerospace technologies, including next generation air and spacecraft, and advanced eco-friendly materials which can be successfully integrated and commercialized for deployment across multiple industry sectors. We seek to partner with and acquire strategic interests in visionary companies that accelerate this mission. 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) [email protected]

Related Quotes