VitaCube rebrands as XELR8, launches products

The move represents a new phase for the company, which was founded in 2000 and began marketing its formulations through retail stores, health clubs and personal trainers in 2002. Chairman and CEO Earnest Mathis said that factors in its success so far have "culminated in the creation of a solid foundation upon which profound success may be achieved". He said that the name-change was intended to raise the company's image to be commensurate with its reputation in the industry, and to more accurately describe what the company is and does. Claiming more than 350 world-class athletes amongst the users and endorsers of its products, the company secured $9.23 million in secondary funding which placed it on the stock exchange in April of this year. For the year ended December 31 2004, it reported net sales of $803,640 and an operating loss of $2.51 million. The new moniker was unveiled at a rally event for distributors held at the weekend. Going forward, branding will bear the slogan 'XELR8 - What Moves You'. The first two XELR8 products are also expected to be available from next month: Power Meal shake, developed to include eight elements of the food pyramid; and Nutritional Energy Drink containing antioxidants and vitamins. In May, VitaCube signed a strategic license agreement with technology transfer company UTEK, indicating that it sees the future of its food and beverage portfolio in innovative ingredients. The agreement puts UTEK on the alert for proprietary technologies that available for acquisition from universities and research laboratories. VitaCube founder Sandy Greenberg told NutraIngredients-USA.com at the time that the company is particularly interested in antioxidants and technologies that limit free radical damage, as well as methods for feeding the body. External links to companies or organisations mentioned in thisstory: XELR8