Business
Beyond Oil Receives Payment for Latitude's March Order Sized 21.6T as Part of Master Distribution Agreement
VANCOUVER, B.C., KIBBUTZ YIFAT, Israel, and NEW YORK, NY, March 14, 2025 (GLOBE NEWSWIRE) -- Beyo...
About this update from Beyond Oil Ltd
[{"type":"text","content":"Beyond Oil Receives Payment for Latitude’s March Order Sized 21.6T as Part of Master Distribution AgreementBeyond Oil Reports that it has received payment in full for Latitude’s March Order and Delivery for the order is in process; Order reflects an increase of over 30% from February and 100% from January; Order Marks Continued Execution of a Five-Year Agreement with Minimum Commitments of US$8.3M for 2025 Alone\n\n\n\n VANCOUVER, B.C., KIBBUTZ YIFAT, Israel, and NEW YORK, NY, March 14, 2025 (GLOBE NEWSWIRE) -- Beyond Oil Ltd. (CSE: BOIL) (OTCQB: BEOLF) (Frankfurt: UH9) (“\n \n Beyond Oil\n \n ” or the “\n \n Company\n \n ”), 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 received payment for the third order under its previously\n \n announced\n \n Master Distribution Agreement with Latitude Ltd. (“\n \n Latitude\n \n ”).\n \n\n The March order, totaling 21.6 tonnes (T) of the Beyond Oil product, represents an 100% increase from the January order of 10.8T and an increase of ~31% over the February order of 16.48T, reflecting growing demand and strong momentum in the partnership. The payment for the March order was 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.\n \n\n Jonathan Or, CEO of Beyond Oil, commented: “The processing of Latitude’s March order, representing a continued increase in shipment sizes, continues to highlight the accelerating adoption of our product within the U.S. food service industry. Latitude's strong distribution network and operational efficiency continue to serve as key drivers of this growth. We are glad to continue building on this momentum as we expand our footprint across the United States and around the globe.”\n \n\n\n\n\n\n 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 s...