Xeriant, Inc. recently signed its first major Letter of Intent (“LOI”) with Next New Concept (“NNC”) for the purchase of up to $130 million of Xeriant's Retacell-based wall panels, for a 35,000-unit residential development project in Africa, anticipated to be completed within five years. NNC has now expressed interest in acquiring additional building products through Xeriant, including doors coated with Retacell®-infused paint. The project between NNC and Xeriant could now generate more than $250 million in revenue for Xeriant beginning in 2023.

NNC is an innovator in environmentally friendly, quickly constructed building systems for affordable quality housing. Retacell is a biodegradable and nontoxic high-performance thermal- and fire-protection chemical agent that is custom formulated to meet each application's specifications and can be applied as a coating or treatment or infused during manufacturing into a variety of materials, including recycled plastics and wood-based fiber. Retacell-infused materials are also water repellent.