Beyond Oil Ltd. (CSE:BOIL) (OTCQB:BEOLF), a disruptor in the food oil industry, continues to gain momentum in 2024, with its stock surging nearly 200% year-to-date. The latest catalyst? A successful funding round through warrant exercises, securing C$1.77 million from key stakeholders, including strategic partner West Coast Reduction Ltd. (WCRL).
Strategic Support Fuels Growth
The funding comes as Beyond Oil scales its innovative food-tech solution—a patented powder that extends cooking oil lifespan, removes harmful toxins, and improves food quality. According to CEO Jonathan Or, the financial backing from distributors like WCRL, who also serve as investors, is a powerful endorsement of the company’s potential. “This deep trust from those who sell and use our products is a strong vote of confidence,” Or commented.
WCRL’s dual role underscores its alignment with Beyond Oil’s mission to enhance health and sustainability. As a leader in recycling and environmental sustainability, WCRL’s partnership facilitates Beyond Oil’s expansion in Israel, Canada, and beyond. The company has recently announced its successful entry into new markets across Asia and Eastern Europe, signaling a growing global footprint.
Beyond Oil’s powder tackles pressing concerns in the food industry. By removing carcinogenic compounds like acrylamide and trans fats from frying oil, it mitigates health risks for consumers and kitchen staff. The product also reduces waste and enhances the taste of fried foods, producing lighter, crispier meals. The company has regulatory approval in major markets, including Canada and the United States, giving it a competitive edge. Feedback from customers has been overwhelmingly positive, with reports of reduced oil consumption, cost savings, and improved food quality.
While restaurant adoption is a key focus, Beyond Oil is also targeting the lucrative industrial frying sector. According to Vice President Robert Kiesman, the company has conducted pilot programs with several large North American corporations, yielding strong results. Notably, Beyond Oil has signed a letter of intent with a multinational filtration systems company, advancing its integration into large-scale operations. This industrial push represents a significant growth opportunity, as factories using thousands of liters of oil can benefit from Beyond Oil’s ability to reduce waste and improve efficiency.
Beyond Oil’s journey began with its founder and president, Michael Pinhas Or, who developed the technology after a personal health challenge inspired him to improve food oil quality. Or invested much of his family’s fortune in the company, reflecting the leadership’s unwavering belief in the product’s transformative potential. As Kiesman explained in a recent interview, the company’s appeal is universal. “Everyone, no matter where they live, eats fried food,” he said, highlighting the global applicability of Beyond Oil’s solution.
With the latest funding, Beyond Oil is poised to accelerate its expansion into North America, Europe, and other key markets. Its ability to address health, sustainability, and cost concerns positions it as a standout player in the food-tech space. Investors and stakeholders alike are watching closely as Beyond Oil continues to redefine the frying industry—one healthier, cleaner, and more sustainable batch of oil at a time.
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This article is for informational purposes only and is not intended to serve as financial, investment or any form of professional advice, recommendation or endorsement. The Author, Global Markets News Network, is a commercially operated digital brand compensated by the issuer (Beyond Oil) to provide coverage of its news and developments, among other things. Readers are encouraged to read the the full disclaimers and disclosures document that the article is subject to. This article may include forward looking statements which cannot be guaranteed as discussed in the documentation. https://justpaste.it/7796t/pdf
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