Past Oil Indicators Industrial Gross sales Settlement with Cafe Cafe Franchisee in Israel



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VANCOUVER, BC and KIBBUTZ YIFAT, ISRAEL / ACCESSWIRE / September 1, 2022 / Past Oil Ltd. (CSE:BOIL) (“Past Oil” or the “Firm“), a food-tech innovation firm extending the lifetime of frying oil, lowering prices and waste, is happy to announce that it has signed its first business gross sales settlement with a franchisee of Caf Café, a number one meals service chain in Israel (the “Café Café“).

Café Café is the most important espresso chain in Israel with greater than 200 areas throughout the nation. The Past Oil product will initially be offered to 4 or 5 retailers of the chain within the North of Israel, adopted by growth to different retailers all through Israel. Underneath the phrases of the settlement, Past Oil will provide the Café Café franchisee with product, in portions requested by the franchisee, on an ongoing foundation.

“After seeing the leads to my very own eating places, I can say that this product is excellent,” mentioned Café Café Restaurant Proprietor, Itamar Sharabi. “I am very honored to be the primary franchisee in Israel to undertake this modern answer which is able to assist us proceed to offer our prospects with tastier and more healthy meals.”

“This can be a defining second for Past Oil because the Firm strikes to the following and most essential stage within the enterprise, which is business gross sales,” mentioned Dr. Tamir Gedo, CEO of Past Oil. “The Israeli market is modern, an early adopter, and is prepared for our disruptive answer. Restaurant homeowners are looking for new methods to chop operational prices and customers are looking for a low-cost various whereas incorporating more healthy menu choices. These behaviors mixed have the potential to create a big shift in direction of a more healthy and extra sustainable future within the Israeli meals service market.”

In 2016, Israel’s meals service sector was valued at roughly $6.6 billion, with virtually 13,000 client meals service companies in 20201. In recent times, the trade has skilled a rise within the worth of uncooked supplies, electrical energy, water, taxes, and manpower, forcing many meals service chains and eating places to hunt out efficient methods to cut back prices and keep worthwhile. Though employment and salaries have risen, worth ranges for menu gadgets throughout Israel stay among the many highest within the OECD, and along with the nation’s excessive price of residing, is main customers towards a cost-conscious food-service market. In consequence, in the present day, there’s a shift in client preferences in direction of a brand new way of thinking round Israelis’ meals consumption habits, “they might quite prepare dinner for us than we prepare dinner for ourselves”. This mindset is mirrored within the fee of family bills for meals companies which stands at 5.3% and is ranked 26th among the many OECD international locations2.

Product Highlights

Frying Oils Restoration: In depth testing signifies that Past Oil’s product extends the usable lifetime of frying oil, improves product high quality, and reduces frying oil prices. As a preferential adsorbent, the product reduces soluble impurities fashioned through the frying course of that causes damaging free fatty acids (“FFA”)and polar compound formation, undesirable odors, off-flavors, and off-colors. The product is easy to combine into present day by day filtration processes.

One-of-a-Type: To the Firm’s information, Past Oil has developed a novel answer that may remove FFA virtually fully with out damaging oil high quality. This answer compares to magnesium-based filter powders which have existed for years that may solely marginally scale back FFA ranges.

Patent Protected: The Firm has a portfolio of registered and patent pending options that stretch the shelf-life of produced and used premium oils.

Backside-Line Financial savings: Past Oil’s distinctive worth proposition is that it may dramatically decrease prices for fast service eating places by considerably extending the helpful lifetime of the oil whereas retaining the unique style profile.

Distribution Prepared: The Firm obtained a non-objection letter from the US Meals & Drug Administration (“FDA”) in March 2022, on the idea that every one the Past Oil product components meet food-grade specs of the FDA. In Could 2022, Past Oil obtained a non-objection letter from Well being Canada and a Nationwide Sanitation Basis certification.

How Our Product Works

The Past Oil answer integrates with present processes as a processing support or as a filter support. The method consists of passive microfiltration designed to take away all elements by a mix of energetic filtration by the powder and passive filtration by a microfiltration paper. This course of ensures no residue is left within the oil whereas maximizing the effectivity of eradicating different degradation particles.

Join With Us

To obtain information and updates about Past Oil, go to: www.beyondoil.co.

Sources:
1 https://www.verdictfoodservice.com/perception/israel-future-foodservice-2021/
2 https://www.globes.co.il/information/article.aspx?did=1001401562

About Past Oil Ltd.

Past Oil is a developer and producer of an modern proprietary and patented formulation which reduces the free fatty acids from cooking oil to as little as 0.1% whereas preserving the oil’s high quality and dietary values. Past Oil’s distinctive expertise and methodology combine into prospects’ present oil filtration programs by extending the lifetime of frying oil, lowering prices and waste. For extra data go to: www.beyondoil.co.

Contact

Dr. Tamir Gedo
CEO and Director
1-647-691-9801
[email protected]

Caroline Sawamoto
Investor Relations
1-647-691-9801
[email protected]

FORWARD LOOKING STATEMENT AND INFORMATION

This press launch comprises forward-looking statements and knowledge which might be based mostly on the beliefs of our administration and replicate Past Oil’s present expectations and views of future occasions. When used on this press launch, the phrases “estimate”, “mission”, “perception”, “anticipate”, “intend”, “anticipate”, “plan”, “predict”, “might” or “ought to” and the destructive of those phrases or such variations thereon or comparable terminology are supposed to determine forward-looking statements and knowledge.

The forward-looking statements and knowledge on this press launch embody data referring to using its product within the meals service trade, the results of such product on the trade as a complete and anticipated advantages of utilizing the Past Oil product. All statements in respect of the potential marketplace for the Firm’s product are additionally forward-looking statements.

Such statements and knowledge are based mostly on quite a few assumptions relating to current and future enterprise methods and the surroundings by which Past Oil will function sooner or later, together with: normal enterprise and financial situations; the demand for our merchandise; client preferences, that take a look at outcomes are dependable and will likely be replicated in business environments, the provision of financing on cheap phrases as wanted; our potential to draw and retain expert workers; that there will likely be no regulation or regulation that can forestall us from working our enterprise, that we can ship enough amount and high quality of product and in accordance with the phrases of any definitive gross sales or distribution agreements. Though Past Oil believes that the assumptions underlying these statements are cheap, they might show to be incorrect.

By their nature, forward-looking statements contain recognized and unknown dangers, uncertainties and different elements which can trigger our precise outcomes, efficiency or achievements, or different future occasions, to be materially totally different from any future outcomes, efficiency or achievements expressed or implied by such forward-looking statements. Such elements embody, amongst others, the next dangers: enterprise, financial and capital market situations; our potential to acquire further financing as wanted on phrases and situations acceptable to the Firm; our potential to stay aggressive as different higher financed rivals develop and launch aggressive merchandise; authorized and regulatory uncertainties together with new legal guidelines or rules which may adversely have an effect on the Firm’s enterprise and outcomes of operations; market situations and the demand and pricing for our merchandise; {our relationships} with our prospects, distributors, suppliers and enterprise companions; our potential to efficiently outline, design and launch new merchandise in a well timed method that meet our prospects’ wants; our potential to draw, retain and encourage certified personnel; our potential to keep up technological management; the affect of expertise modifications on our merchandise and trade; our failure to develop new and modern merchandise; our potential to efficiently preserve and implement our mental property rights and defend third-party claims of infringement of their mental property rights; our potential to handle working capital; our dependence on key personnel; the chance that client curiosity in and sentiment in direction of Past Oil’s merchandise adversely modifications; the affect of COVID-19 or different viruses and ailments on Past Oil’s potential to function; gear failures; unanticipated will increase in working prices and fluctuations in commodity costs; safety threats; the failure of counterparties to carry out their contractual obligations; dangers associated to Past Oil’s company technique together with that earlier and future acquisitions don’t meet expectations; anticipated commercialization of the Firm’s merchandise might not materialize as contemplated on this information launch or in any respect, the chance that adequate portions of product are usually not delivered beneath any distribution or gross sales settlement. As well as, Past Oil’s merchandise have but to be produced on a big scale.

Ahead-looking statements and knowledge have been ready by our administration to offer details about administration’s present expectations and plans referring to the long run. Readers are cautioned that reliance on such data will not be applicable for different functions, comparable to making funding selections. Whereas our administration believes that the forward-looking statements have been ready on an inexpensive foundation, reflecting administration’s greatest estimates and judgments, Past Oil is an early-stage firm with a brief working historical past and it could not truly obtain its plans, projections, or expectations. Readers ought to learn this doc with the understanding that our precise future outcomes could also be materially totally different from what we anticipate. Given these dangers, uncertainties, and assumptions, you shouldn’t place undue reliance on these forward-looking statements.

The forward-looking data included on this new launch is expressly certified in its entirety by this cautionary assertion. The Firm cautions that the foregoing lists of assumptions, dangers and uncertainties will not be exhaustive. The forward-looking data contained on this information launch is made as of the date hereof and the Firm undertakes no obligation to replace publicly or revise any forward-looking data, whether or not on account of new data, future occasions or in any other case, except required by relevant securities legal guidelines.

SOURCE: Past Oil Ltd.

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