Business
Beyond Oil Outlines 2023 Year in Review
Company Poised to Leverage 2023 Success and Accelerate Growth in 2024 VANCOUVER, BC and KIBBU...
About this update from Beyond Oil Ltd
[{"type":"text","content":"Beyond Oil Outlines 2023 Year in Review Company Poised to Leverage 2023 Success and Accelerate Growth in 2024VANCOUVER, BC and KIBBUTZ YIFAT, ISRAEL / ACCESSWIRE / December 29, 2023 / Beyond Oil Ltd. (CSE:BOIL)(OTCQB:BEOLF) (\"Beyond Oil\" or the \"Company\"), a food-tech innovation company extending the life of frying oil while reducing costs, waste and health risks, is pleased to share the following corporate update.\"Beyond Oil has reached pivotal achievements in 2023,\" said Jonathan Or, CEO and Co-founder of Beyond Oil. \"Since launching the commercial phase of our food-service product in May, we have crossed numerous milestones, including exceptional product performance, a growing customer base, robust production capabilities, and gaining trust through health reports validated by university and hospital experts. Our learning process has refined our value propositions and market entry strategy and laid a solid foundation for an expansion in sales and production in 2024. Our advancements have garnered the interest of top global food chains, fried food manufacturers, and potential strategic distributors. We anticipate announcing additional partnerships to our investors in the near future.\"Commercialization - Food Service IndustryBeyond Oil successfully commercialized its product for the food service industry in May 2023, with the first shipment of the product delivered to a distributor in Israel. This milestone was achieved after years of research and development and initialized product marketing and sales efforts.Having successfully established domestic production and packaging operations that support projected growth of the product, which is now commercially available in bulk packaging boxes along with the small-portion bags, the Company is now focused on expanding its operational and logistics solutions into the North American market.Market Penetration in the Food Service SectorSince the first delivery of the Beyond Oil product to the food service industry in May 2023, the product has been used in a growing customer base of hundreds of restaurants in Israel through its exclusive distributor, Fandango Collection & Recycling Ltd. (\"Fandango\"). Fandango began its market penetration program with targeted single-owned restaurants in order to test the market and integrate the Beyond Oil product into its total oil treatmen...