Exciting Distribution Agreement Marks Entry into Portugal for Beyond Oil
Beyond Oil Expands into the Portuguese Market
Beyond Oil Ltd. (CSE: BOIL) (OTCQB: BEOLF) (Frankfurt: UH9) is thrilled to announce its first distribution agreement in Portugal. This partnership, forged with Serious Formula Ltd, marks a significant milestone for the company as it seeks to enhance its global presence. Beyond Oil is known for its innovative food-tech solutions that tackle health risks associated with fried food while promoting sustainability and reducing operational costs.
Details of the Distribution Agreement
Under this new agreement, Serious Formula Ltd. will take on the responsibility of marketing, distributing, and selling Beyond Oil's proprietary oil filtration solution. This remarkable product will be introduced to various sectors, including restaurants, hotels, catering companies, and institutional food providers across Portugal.
An initial order has already been placed for 1,080 kilograms of Beyond Oil’s product, with structured purchasing plans forecasting minimum commitments of approximately €1.13 million over a five-year period. This showcases a strong commitment to not only the product but also to the sustainability efforts that Beyond Oil embodies.
Input from Leadership
Jonathan Or, the CEO of Beyond Oil, shared his enthusiasm about this move: "Entering the Portuguese market is a thrilling advancement in our ongoing global expansion. Portugal boasts a rich culinary heritage and a strong commitment to quality, which aligns perfectly with our mission. Partnering with Serious Formula will allow us to share our unique filtration technology and assist local businesses in enhancing their operational efficiency while promoting sustainability. We are eager to support them in this dynamic market."
Jivá Remtula, CEO of Serious Formula, echoed this sentiment: "As professionals in the restaurant and hotel industry, we recognize the transformative impact Beyond Oil’s product can have on our sector. Sustainability and food safety are paramount today, and Beyond Oil presents an exceptional opportunity to achieve these goals while decreasing costs. We are honored to spearhead this change in the Portuguese food sector."
Market Impact and Future Prospects
This agreement signifies Beyond Oil’s first major commercial entry into Portugal, significantly broadening its international footprint. With Serious Formula’s extensive network within the restaurant and hospitality industries, the potential for market adoption appears promising. The distributor will engage in structured marketing initiatives, training programs, and product demonstrations aimed at accelerating the adoption of Beyond Oil's solutions.
Beyond Oil’s technology provides a critical solution to a pervasive issue in the food industry: the frequent reuse of frying oil. This practice, common in kitchens ranging from restaurants to schools, poses serious health risks, including links to cancer and cardiovascular diseases. By adopting Beyond Oil's product, businesses can substantially mitigate these risks while enjoying enhanced food quality and reduced environmental impact.
About Beyond Oil Ltd.
Beyond Oil Ltd. is a pioneer in food-tech innovation, striving for over 15 years to develop solutions that prioritize health, sustainability, and operational efficiency in the food service industry. The company holds patented technology that has received regulatory approvals from both the FDA and Health Canada, effectively reducing harmful compounds found in frying oil.
About Serious Formula Ltd.
Serious Formula Ltd. is a distribution company established by experienced entrepreneurs with a history of success in the restaurant, hotel, and food distribution sectors across several continents. The company recognizes the importance of superior food quality and sustainability, thus positioning itself to manage the distribution of Beyond Oil’s innovative solution effectively.
Frequently Asked Questions
What is Beyond Oil’s new product offering?
Beyond Oil’s new offering is a proprietary oil filtration solution designed to improve the quality of frying oil while reducing health risks associated with its reuse.
Who is Beyond Oil partnering with in Portugal?
Beyond Oil has partnered with Serious Formula Ltd, a distribution company focused on foodservices in Portugal.
What are the terms of the distribution agreement?
The agreement includes an initial order of 1,080 kg of Beyond Oil's product, with estimated commitments of €1.13 million over the five-year term.
What industries will benefit from this partnership?
Restaurants, hotels, catering companies, and institutional food providers across Portugal are expected to benefit significantly from this distribution agreement.
How does Beyond Oil's technology promote sustainability?
Beyond Oil's technology reduces the harmful compounds found in reused frying oil, significantly decreasing waste and enhancing food quality, contributing to broader sustainability efforts in the food service sector.
About The Author
Contact Lucas Young privately here. Or send an email with ATTN: Lucas Young as the subject to contact@investorshangout.com.
About Investors Hangout
Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/
The content of this article is based on factual, publicly available information and does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice, and the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. This article should not be considered advice to purchase, sell, or hold any securities or other investments. If any of the material provided here is inaccurate, please contact us for corrections.