BranchOut Food Inc. Secures Third EnWave Dehydration Machine; Announces $40M Production Capacity with New Peru Facility
24 Maio 2024 - 9:00AM
BranchOut Food Inc. (NASDAQ: BOF), a leading food technology
company specializing in dehydrated fruit and vegetable-based
products, today announced the expansion of its agreement with
EnWave Corporation (TSX-V: ENW | FSE: E4U). As part of this
enhanced partnership, BranchOut has purchased its third large-scale
EnWave dehydration machine. This addition is strategically aimed at
expanding its new facility in Peru, with operations anticipated to
commence in Q3, ultimately completing an estimated $40M in
production capacity with 40-50% estimated gross margins.
The newly acquired 100kW NutraRev System, distinct from the two
QuantaREV systems previously purchased, is designed to enhance
throughput and improve margins, particularly in the B-to-B
ingredient space. BranchOut currently operates a 60kW QuantaREV and
has committed to a larger 120kW QuantaREV, both primarily aimed at
branded and private label snackproducts. The addition of the
NutraRev System is expected to bolster BranchOut's capabilities
across different product lines.
These machines will be instrumental in servicing BranchOut's
significant orders, including approximately $8M from the nation’s
largest retailer, $1.1M from the nation’s largest warehouse club,
and other potential customers in the pipeline. This expansion will
position BranchOut as one of the largest Radiant Energy Vacuum
(REV™) installations globally and the largest in Latin America. The
strategic location in Peru, with its abundance of fresh produce and
low-cost labor, further enhances BranchOut's competitive edge.
Eric Healy, CEO of BranchOut Food Inc., commented, "This
expansion is a key element of our growth strategy, enabling us to
scale our operations and capture additional market share. By
integrating the NutraRev System into our lineup, we are not only
poised to meet increasing demand but also to enhance our
operational efficiency significantly. This positions us to lead in
the production of high-quality ingredients and snacks, reflecting
our unwavering commitment to innovation and excellence in the food
industry."
About BranchOut Food Inc.
BranchOut Food is an international food-tech company delivering
truly great natural snacks and real superfood ingredients enabled
by its licensed dehydration technology. The company’s GentleDry
Technology is the next generation in dehydration technology,
preserving up to 95% of the original nutrition of fresh fruits and
vegetables. BranchOut’s technology is protected by more than 17
patents. BranchOut Food is proud to be a leading provider of
high-quality dehydrated fruit and vegetable-based products and its
commitment to quality and innovation sets it apart as a trusted
brand and private label supplier. For more information about
BranchOut Food Inc. and its products, please
visit www.branchoutfood.com and follow us
on LinkedIn and Instagram.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. These forward-looking statements relate to expectations or
forecasts of future events. Forward-looking statements may be
identified using words such as "forecast," "intend," "seek,"
"target," "anticipate," "believe," "expect," "estimate", "plan,"
"outlook," and "project" and other similar expressions that predict
or indicate future events or trends or that are not statements of
historical matters. Forward-looking statements with respect to the
operations of BranchOut Food, Inc., (the Company) strategies,
prospects and other aspects of the business of the Company are
based on current expectations that are subject to known and unknown
risks and uncertainties, which could cause actual results or
outcomes to differ materially from expectations expressed or
implied by such forward-looking statements. You are cautioned not
to place undue reliance upon any forward-looking statements, which
speak only as of the date made. Although it may voluntarily do so
from time to time, the Company undertakes no commitment to update
or revise the forward-looking statements, whether as a result of
new information, future events or otherwise, except as required by
applicable securities laws.
For more informationJeff RamsonPCG
Advisory646-863-6893jramson@pcgadvisory.com
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