Beyond Oil Reports the Successful Delivery of its February Order, Reflecting an Increase of over 50% from January, with Payment Received in Full; This Marks Continued Execution of a Five-Year Agreement with Minimum Commitments of US$8.3M for 2025 Alone
VANCOUVER, B.C., KIBBUTZ YIFAT, Israel, and NEW YORK, NY , Feb. 12, 2025 (GLOBE NEWSWIRE) — Beyond Oil Ltd. (CSE: BOIL) (OTCQB: BEOLF) (Frankfurt: UH9) (“Beyond Oil” or the “Company”), a food-tech innovation company dedicated to reducing health risks associated with fried food while lowering operational costs, minimizing waste, and enhancing sustainability, is pleased to announce that it has successfully delivered the second order under its previously announced Master Distribution Agreement with Latitude Ltd. (“Latitude”).
The February shipment, totaling 16.48 tonnes (T) of the Beyond Oil product, represents an over 50% increase from the January order of 10.8T, reflecting growing demand and strong momentum in the partnership. The payment for the February order was also received in full, underscoring the robustness of the strategic collaboration, which includes minimum purchase commitments totaling US$8.3 million during the fiscal year 2025 as part of a five-year agreement.
Jonathan Or, CEO of Beyond Oil, commented: “The successful delivery and payment of our February order, marking a substantial increase of over 50% from January, highlights the accelerating adoption of our product within the U.S. food service industry. Latitude’s strong distribution network and operational efficiency are key drivers of this growth. We are excited to continue building on this momentum as we expand our footprint across the United States.”
The collaboration between Beyond Oil and Latitude focuses on rapidly expanding market penetration in the United States, leveraging Latitude’s established sub-distributor network and expertise in logistics. This partnership positions Beyond Oil to reach all customer levels, from small and medium-sized businesses to high-profile restaurant groups, while maintaining cost-efficient operations.
About Beyond Oil Ltd.
Beyond Oil Ltd. is a food-tech innovation company with over 15 years of dedication to creating solutions that mitigate health risks, improve sustainability, and reduce costs for food service companies. The Company’s patented technology, with regulatory clearances from the FDA and Health Canada, significantly reduces harmful compounds in frying oil, addressing critical health concerns. Beyond Oil’s solution tackles a global issue in the food industry: the widespread practice of reusing frying oil for hundreds of cycles across several days. This practice is common in restaurant kitchens, hotels, catering services, banquet halls, fried food manufacturing plants, and institutions such as schools, kindergartens, and military facilities. Beyond Oil’s product is backed by extensive research which has highlighted its value in health risks associated with reused oil, including links to cancer and cardiovascular diseases. Beyond Oil’s product provides an effective means to mitigate these risks while offering additional benefits such as improved food quality, operational cost savings, and reduced environmental impact. For more information about Beyond Oil, please Visit: www.beyondoil.co
Forward Looking Statement and Information
The Canadian Securities Exchange has in no way passed upon the merits of the Company and has neither approved nor disapproved the contents of this press release. Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release contains “forward-looking statements” within the meaning of the securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. Forward-looking statements are not historical facts, and are based upon management’s current expectations, beliefs and projections, many of which, by their nature, are inherently uncertain. Such expectations, beliefs and projections are expressed in good faith. However, there can be no assurance that management’s expectations, beliefs and projections will be achieved, and actual results may differ materially from what is expressed in or indicated by the forward-looking statements. In addition, we cannot assure that any patent will be issued as a result of a pending patent application or, if issued, whether it will be issued in a form that will be advantageous to us. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the forward-looking statements. For a more detailed description of the risks and uncertainties affecting the Company, reference is made to the Company’s reports filed from time to time at sedarplus.ca. Forward-looking statements speak only as of the date the statements are made. The Company assumes no obligation to update forward-looking statements to reflect actual results, subsequent events or circumstances, changes in assumptions or changes in other factors affecting forward-looking information except to the extent required by applicable securities laws. If the Company does update one or more forward-looking statements, no inference should be drawn that the Company will make additional updates with respect thereto or with respect to other forward-looking statements. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. The Company is not responsible for the contents of third-party websites.
Contacts:
Beyond Oil Ltd.
Jonathan Or
CEO and Co-founder
Phone: +972 52-601-0680
[email protected]
ARX | Capital Markets Advisors
North American Equities Desk
[email protected]
