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 signed its first distribution agreement (the “Agreement”) in Portugal with Serious Formula Ltd (“Serious Formula” or the “Distributor”), a Lisbon-based company specializing in the foodservice and hospitality sectors.
Under the terms of the agreement, Serious Formula Ltd. will market, distribute, and sell Beyond Oil’s proprietary oil filtration solution to restaurants, hotels, catering companies, and institutional food providers across Portugal. The agreement includes an initial order of 1,080 kg of Beyond Oil’s product and establishes a structured expected purchasing plan including minimum estimated commitments of €1.13 million over the agreement’s five-year term*.
Jonathan Or, CEO of Beyond Oil, commented: “We are excited to enter the Portuguese market, an important step in our ongoing global expansion strategy. Portugal’s foodservice industry is known for its deep culinary traditions and its commitment to quality and sustainability. Our partnership with Serious Formula Ltd. aims to bring Beyond Oil’s unique filtration technology to local businesses, helping them reduce oil consumption, improve food quality, and enhance operational efficiency. We look forward to supporting our distributor in introducing Beyond Oil to this dynamic market.”
Jivá Remtula, CEO of Serious Formula, added: “As restaurant and hotel owners ourselves, we understand the important impact Beyond Oil’s product can have on our industry. In today’s world, sustainability and food safety are becoming increasingly critical, and Beyond Oil presents a rare opportunity to achieve these goals while also reducing costs. We are proud to be at the forefront of this shift in Portugal’s food sector.”
This agreement marks Beyond Oil’s first commercial presence in Portugal, adding to the company’s growing international footprint. Serious Formula Ltd. is positioned to leverage its extensive network in the Portuguese restaurant and hospitality industries to accelerate market adoption. As part of the agreement, the distributor will implement structured marketing and training programs, engage with key wholesalers, and conduct in-market product demonstrations to drive adoption.
*The projected revenues disclosed herein and included in the agreement are contingent on the Distributor fulfilling its minimum purchase obligations, including payment. Beyond Oil retains the right to terminate the agreement if the minimum commitments are not met by the Distributor. Furthermore, projected revenues do not reflect profits, as they are subject to variable factors, including operational costs, licensing fees, market conditions, and other factors in the Forward-Looking Statement below. Readers should take note that significant differences may occur in any future potential bottom-line figures.
