PODA acquires manufacturing equipment and IP
by CM Staff
PODA has also signed 15 patent applications related to Poda Pod technology, three Chinese trademarks worth nearly $3.45 million and payable in cash.
VANCOUVER — PODA Holdings Inc. has finalized a purchase agreement with its Chinese manufacturing partner to acquire Poda Pod manufacturing equipment.
In addition to this agreement, PODA has also signed 15 patent applications related to Poda Pod technology, three Chinese trademarks worth nearly $3.45 million and payable in cash.
A statement from PODA explaining details of the transaction says that the manufacturing equipment acquired have the capacity to produce approximately 5 million Poda Pods annually. All of the manufacturing equipment will be shipped to Vancouver, B.C.
“Given the general unrest of the geopolitical situation around the globe, the company has determined it will manufacture Poda Pods in North America. This will reduce the amount of lag time from manufacturing to customer delivery and will provide a significant reduction in tariffs allowing the company to be more competitive,” said PODA Holdings CEO Ryan Selby in a statement.