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Beyond Oil announces successful initiation of first order under new distribution agreement focusing on Indian markets, with full payment received for upcoming 6T shipment
VANCOUVER, BC and KIBBUTZ YIFAT, Israel, March 24, 2025 (GLOBE NEWSWIRE) -- Beyond Oil Ltd. (CSE: BOIL) (OTCQB: BEOLF) (Frankfurt: UH9) (“Beyond Oil” or the “Company”), 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 further to its news release on February 28, 2025, it has received full payment for its upcoming initial 6-tonne (T) shipment to Deep Frying Solutions Pvt Ltd (“Deep Frying Solutions” or the “Distributor”), as part of its agreement with the distributor relating to the Indian market.
The payment marks the successful execution of the first order under the five-year distribution agreement announced in February, which, as previously reported, is expected to include the purchase of approximately 57 containers and an estimated total contract value of approximately $9.58 million USD over its five-year term.
Jonathan Or, CEO of Beyond Oil, commented: “The completion of this first transaction with Deep Frying Solutions represents an important step in our expansion into the Indian market. Receiving full payment further validates our partner’s commitment and reinforces our confidence in the long-term growth potential of this relationship. We look forward to supporting Deep Frying Solutions as they introduce our oil filtration solution to restaurants, catering companies, and foodservice providers across India.”
About Beyond Oil Ltd.
Beyond Oil Ltd. is a food-tech innovation company with over 15 years of dedication to creating solutions that mitigate health risks, improve sustainability, and reduce costs for food service companies. The Company’s patented technology, with regulatory clearances from the FDA and Health Canada, significantly reduces harmful compounds in frying oil, addressing critical health concerns. Beyond Oil’s solution tackles a global issue in the food industry: the widespread practice of reusing frying oil for hundreds of cycles across several days. This practice is common in restaurant kitchens, hotels, catering services, banquet halls, fried food manufacturing plants, and institutions such as schools, kindergartens, and military facilities. Beyond Oil's product is backed by extensive research which has highlighted its value in health risks associated with reused oil, including links to cancer and cardiovascular diseases. Beyond Oil’s product provides an effective means to mitigate these risks while offering additional benefits such as improved food quality, operational cost savings, and reduced environmental impact. For more information about Beyond Oil, please visit: www.beyondoil.co