Business
Beyond Oil Signs Commercial Distribution Agreement with TEJA Food Group
VANCOUVER, BC and KIBBUTZ YIFAT, ISRAEL / ACCESSWIRE / June 22, 2022 / Beyond Oil Ltd. (C...
About this update from Beyond Oil Ltd
[{"type":"text","content":"Beyond Oil Signs Commercial Distribution Agreement with TEJA Food GroupVANCOUVER, BC and KIBBUTZ YIFAT, ISRAEL / ACCESSWIRE / June 22, 2022 / Beyond Oil Ltd. (CSE:BOIL) (\"Beyond Oil\" or the \"Company\"), a food-tech innovation company extending the life of frying oil, reducing costs and waste, is pleased to announce that, further to its news release dated March 22, 2022, it has entered into a definitive distribution agreement (the \"Distribution Agreement\") with TEJA Food Group (\"TEJA\") to market and sell Beyond Oil's product to the restaurant market in Canada and the United States.Cooking oil prices have risen dramatically since the beginning of the COVID-19 pandemic and are continuing to rise, causing increased cost pressures for restaurant owners and other food producers around the world.\"We have been searching extensively for a technological solution that will help our customers cope with the increasing cost pressures of frying oil, without compromising the quality and the taste of their food,\" said Tom Grande, President of TEJA Food Group. \"Our customers remain our top priority and we are always driven by the desire to give them the best and healthiest product. We are pleased to have entered into this distribution agreement with Beyond Oil and to have found a unique product that will give restaurants and food processors the ability to cut costs and provide healthier food to their valued consumers\".As announced previously, Beyond Oil has received a non-objection letter from the US Food & Drug Administration (\"FDA\") to sell its product in the United States. Beyond Oil has also received a non-objection letter from Health Canada to sell its product in the Canadian markets.\"We are proud to see growing interest from restaurants, food chains, and food producers who have begun to realize the significant benefits that our product can deliver for the companies, the customers, and for the planet,\" said Dr. Tamir Gedo, CEO of Beyond Oil. \"This distribution agreement with TEJA is another strategic milestone for Beyond Oil as we progress towards commercialization. We are pleased to partner with Tom Grande and his innovative team at TEJA, who we believe will be strong and important partners in the North American food market.\"Beyond Oil continues to move closer to commercialization, having completed its public listing tr...