Skip to main content

Poda Updates Heat-Not-Burn Technology

Tickers: XCNQ:AAAAA
Tags: #Technology



Vancouver, BC - TheNewswire - January 31, 2020 - PODA TECHNOLOGIES LTD. ("Poda" or the "Company") provides update on the Heat-not-burn industry and how PODA's unique technology is positioned for growth in this fast-moving consumer good market.

HNB products, also known as heated tobacco products ("HTP"), only heat tobacco or other dry substrates. Since the dry substrate does not burn, the levels of harmful chemicals may be significantly reduced compared to cigarette smoke. The HTP market is dominated by three leading tobacco product manufacturers. To date there are no leaders in the HNB space when it comes to non-tobacco substrates such as dried flower. PODA's unique technology provides for zero cleaning with no cross contamination allowing users to heat multiple substrates ranging from various tobacco or dried flower blends.

According to data released by Euromonitor in 2017, total sales for HTPs in 2016 were US $2.1 billion and Euromonitor International expects HTP totals to reach US $17.9 billion by 2021, according to its 2018 forecast. Profit margins for Philip Morris International ("PMI") IQOS are 30%-50% higher than for conventional cigarettes, leading some analysts to project that IQOS sales will contribute up to 15% of PMI's profits in 2019. PMI reported 42 billion HNB sticks sold in 2018 generating $4.2 billion in revenue.

Ryan Selby, CEO, commented "We are extremely excited to launch our product in the HNB space and strongly feel we have a competitive advantage with our fully enclosed zero cleaning system. We spent the past 5 years developing PODA at a time when HNB was at its infancy. After numerous hours of research and development we are now ready to launch our product in North America and Europe."

On Behalf of the Board,

Ryan Selby

Chief Executive Officer and Director

About Poda

Poda is actively engaged in the development and commercialization of heat-not-burn products, which have the potential to reduce the risks associated with combustible products. In addition to several other intellectual property holdings, the Company has developed an innovative heat-not-burn system that uses proprietary biodegradable single-use pods, which are both consumer and environmentally friendly. Poda's design prevents cross-contamination between the heating device and the pod, eliminating all cleaning requirements and providing users with the most convenient and enjoyable potentially risk-reduced experience. Pod refill options range from dried flower, tobacco and other dry substrates and can easily be switched during heating sessions to suit any adult consumer's mood.

Copyright (c) 2020 TheNewswire - All rights reserved.

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.