Beyond Oil's Agreement Expansion to Ukraine Signals Growth
Expanding Horizons: Beyond Oil's Growth Strategy
Beyond Oil Ltd. (CSE: BOIL) (OTCQB: BEOLF) (Frankfurt: UH9) is making waves in the food-tech industry by expanding its Master Distribution Agreement with Latitude Ltd. This agreement recently gained a significant addition as Ukraine joins the territory of this partnership. Beyond Oil's commitment to improving health standards in food preparation is paving the way for a newer, healthier future.
A Dedication to Health Improvement
Founded with a mission to address health risks associated with the consumption of fried foods, Beyond Oil utilizes innovative technology that minimizes harmful compounds in frying oil. The company's solutions enable food service companies to operate more efficiently while significantly reducing waste.
Commitments and Milestones
As part of the expanded agreement, Latitude has pledged to purchase $302,400 worth of products in 2025, gradually increasing its purchases to a minimum of $1.512 million by 2029. This shows Latitude’s commitment to supporting Beyond Oil's products and their respective benefits. In total, the contract secures $4.536 million in purchases for the five years of collaboration.
Shared Vision of Sustainable Growth
Jonathan Or, CEO of Beyond Oil, highlights the success of their agreement, noting a 50% increase in orders since January, which emphasizes the growing market demand for healthier frying solutions. "Our expansion into Ukraine is a strategic move in our global growth plan," Or stated. This shift aligns with Beyond Oil's dedication to entering new markets and fostering long-term profitable growth.
The Importance of Patent Technology
One of the distinguishing features of Beyond Oil is its patented technology that has gained regulatory approval from the FDA and Health Canada. The company’s approach not only enhances food quality but also significantly lessens environmental impact and operational costs.
Addressing Global Food Industry Challenges
Reuse of frying oil is a common practice across various sectors, including restaurants, schools, and catering services. Beyond Oil's patented solutions effectively address the health risks associated with reused cooking oils, contributing positively to public health concerns related to cancer and cardiovascular diseases. Beyond Oil is aligning with industry needs to serve better its clientele.
Beyond Oil’s Commitment to its Partners
The agreement with Latitude can be renewed for an additional five years, depending on both parties' negotiations and goodwill. This feature reflects a strong partnership that is centered around growth and success for both Beyond Oil and Latitude.
Conclusion
Beyond Oil's journey is a firm indication of the impact innovative food-tech solutions can have on health standards and sustainability in the food industry. The expansion into Ukraine marks another significant milestone in their growth strategy, affirming their commitment to providing healthier cooking alternatives worldwide.
Frequently Asked Questions
What is Beyond Oil's primary focus?
Beyond Oil focuses on reducing health risks associated with fried food while enhancing sustainability and minimizing waste through innovative food-tech solutions.
What does the expanded agreement with Latitude entail?
The expanded agreement involves a commitment from Latitude to purchase $302,400 worth of Beyond Oil's products in 2025, with planned increases over the following years.
How does Beyond Oil’s technology benefit food service companies?
The technology patented by Beyond Oil significantly reduces harmful compounds in cooking oil, improving food quality and lowering operational costs for food service companies.
Why is the Ukrainian market significant for Beyond Oil?
Expanding into Ukraine allows Beyond Oil to tap into new growth markets and enhance its global presence while meeting rising demand for healthier food preparation methods.
Who is the CEO of Beyond Oil?
Jonathan Or is the CEO and Co-founder of Beyond Oil, leading the company's innovative strategies and commitments to health and sustainability in the food industry.
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