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Beyond 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
VANCOUVER, B.C., KIBBUTZ YIFAT, Israel, and NEW YORK, NY, March 14, 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 it has received payment for the third order under its previously announced Master Distribution Agreement with Latitude Ltd. (“Latitude”).
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.
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.”
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 small and medium-sized businesses to high-profile restaurant groups, while maintaining cost-efficient operations.
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