Poda to Manufacture Vaping Devices in North America
Poda has signed a purchase agreement with its Chinese manufacturing partner to acquire Poda Pod production equipment, 15 patent applications related to Poda Pod technology, and three Chinese trademarks for about CAD 3.45 million (USD 2.7 million). The equ
Poda has signed a purchase agreement with its Chinese manufacturing partner to acquire Poda Pod manufacturing equipment, 15 patent applications related to Poda Pod technology, and three Chinese trademarks for approximately CAD 3.45 million (USD 2.7 million).<\/span>
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The manufacturing equipment consists of all proprietary custom equipment for producing Poda pods and devices, estimated to produce 5 million Poda pods annually. All manufacturing equipment will be shipped to a city in southwestern Washington State, USA. These 15 patent applications were submitted in China and represent unique product designs and manufacturing methods applicable to Poda pod development and mass production.<\/span><\/div>
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“Given the general turmoil in the global geopolitical landscape, the company has determined to produce Poda pods in North America,” said Ryan Selby, CEO of Poda Holdings, in a statement.<\/span><\/div>
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“This will reduce lag time from manufacturing to customer delivery and significantly lower tariffs, making the company more competitive. The acquisition of manufacturing equipment and patent applications is an important step for Poda's growth and value, and the company believes this outweighs the resulting production delays.”<\/span><\/div>
