Jammin Java Corp. it has signed a memorandum of understanding (MOU) with High Performance Beverage company to joint venture in the development of canned and bottled cold coffee drinks. Jammin Java is moving into new areas of cold coffee products to establish itself within the multi billion dollar industry.

Bloomberg news reported Canned or bottled ready-to-drink coffee is a natural evolution flowing from a consumer landscape awash with premium coffee at ubiquitous Starbucks and countless independent coffee bistros. The U.S. ready-to-drink coffee market has been growing by double digits annually since 2011, and Euromonitor International expects the market to reach nearly $3.6 billion by 2020. The global market stood at $18 billion in 2015.