- Food-tech innovation company Beyond Oil Ltd. (CSE:BOIL) has achieved a significant milestone in its global commercialization efforts
- The company has received payment for a 16-ton container of its product from an Eastern European franchisee of one of the world’s largest fast-food chains
- This sale marks a critically important milestone for Beyond Oil as it continues to disrupt the food oil industry worldwide
- Beyond Oil stock opened trading at C$1.47 per share
Food-tech innovation company Beyond Oil Ltd. (CSE:BOIL) has achieved a significant milestone in its global commercialization efforts.
The Vancouver-based company has received payment for a 16-ton container of its product from an Eastern European franchisee of one of the world’s largest fast-food chains. This order follows the successful completion of a pilot program by the European franchisee in Eastern Europe.
This sale marks a critically important milestone for Beyond Oil as it continues to disrupt the food oil industry worldwide. The company’s innovative approach to food oil technology has garnered attention and adoption across various regions, and this latest achievement serves as an example of its expanding geographic reach.
Key highlights of this development include:
- Successful pilot program: The European franchisee’s pilot program demonstrated the effectiveness and benefits of Beyond Oil’s product, leading to this substantial order.
- Global commercialization: The order from Eastern Europe signifies Beyond Oil’s growing influence and acceptance in the global market.
- Industry transformation: Beyond Oil’s innovative technology continues to challenge traditional food oil practices, offering more sustainable and efficient solutions.
“Our team has heard loud and clear from our shareholders and other stakeholders that Beyond Oil needs to penetrate the restaurant markets in larger, more populated countries across the world in order to gain a more significant market presence and grow our company in a much faster and more significant manner,” Beyond Oil’s CEO, Jonathan Or commented in a news release. “Our market penetration strategy has been to close successful pilots and initial sales with global chains located near our R&D center in Israel, and then take that data to affiliated franchise groups in larger countries in those chains across the globe. We are very excited about this order for a full container of our product into Eastern Europe – our strategy is being executed in real time and we are going to continue to work hard to accelerate the pace and geographic scope of our expansion, targeting new pilots and sales into other international markets.”
This development comes just two weeks after the company announced it had acheived another commercial milestone with its first direct purchase order in Western Europe.
Beyond Oil Ltd. is a Canadian food technology company whose solution integrates with food services and restaurants’ existing oil filtrations processes as a filter aid, provides food service frying and industrial frying. The company helps restaurants and food chains serve healthier food while reducing their oil costs, decreasing waste and increasing sustainability.
Beyond Oil stock (CSE:BOIL) opened trading at C$1.47 per share and has risen 250.00 per cent since the year began.
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(Top image via Beyond Oil Ltd.)