Else Nutrition Adds New Production Facility, Starts Commercial Production
- The new production facility will lower costs and improve product quality, positively impacting the company's COGS and cash flow.
- The significant cost reduction will start impacting immediately the cash flow, and the company’s COGS towards the end of 2023, as inventory from the previous plant is depleted.
- None.
VANCOUVER, British Columbia, Sept. 05, 2023 (GLOBE NEWSWIRE) -- ELSE NUTRITION HOLDINGS INC. (BABY) (BABYF) (0YL.F) ("Else" or the "Company"), announces that it has started commercial production at a new US facility in the Mid West, which will be able to support the company’s manufacturing demand in the coming years in North America. The new US production facility will lower costs while improving product quality.
Else completed production tests and scaleup in July and ran the first commercial production of its lead product, Toddler Organic, in August. In the coming months, the company intends to complete trials for the rest of its products in North America and enter a long-term supply agreement.
The significant cost reduction will start impacting immediately the cash flow, and the company’s COGS towards the end of 2023, as inventory from the previous plant is depleted.
The quality of the produced product has also improved at the new facility, making the product easier to package, and dissolve better when mixed with water.
“I am very happy to announce this new production facility,” said Hamutal Yitzhak, CEO, and Co-Founder of Else Nutrition. “It materially increases our manufacturing capacity to a level that will support significant growth in the coming years, while reducing our COGS and improving the quality of the product. It secures our ability to supply the current and anticipated increase in demand for our products and will positively impact our COGS significantly.”
For more information, visit: www.elsenutrition.com or follow Else Nutrition on LinkedIn
About Else Nutrition Holdings Inc.
Else Nutrition Holdings Inc. (TSX: BABY, OTCQX: BABYF, FSE: 0YL) is a food and nutrition company in the international expansion stage focused on developing innovative, clean, and plant-based food and nutrition products for infants, toddlers, children, and adults. Its revolutionary, plant-based, non-soy formula is a clean-ingredient alternative to dairy-based formulas. Since launching its Plant-Based Complete Nutrition for Toddlers, made of whole foods, almonds, buckwheat, and tapioca, the brand has received thousands of powerful testimonials and reviews from parents, gained national retailer support, and achieved rapid sales growth.
Awards and Recognition:
- "2017 Best Health and Diet Solutions" award at Milan's Global Food Innovation Summit
- #1 Best Seller on Amazon in the Fall of 2020 in the New Baby & Toddler Formula Category
- “Best Dairy Alternative” Award 2021 at World Plant-Based Expo
- Nexty Award Finalist at Expo West 2022 in the Plant-Based lifestyle category
- During September 2022, Else Super Cereal reached the #1 Best Seller in Baby Cereal across all brands on Amazon
Investor Relations Contact:
Lytham Partners, LLC
Mr. Ben Shamsian
New York | Phoenix
E: shamsian@lythampartners.com
P: 646-829-9701
TSX Venture Exchange
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
Caution Regarding Forward-Looking Statements
This press release contains statements that may constitute "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements are typically identified by words such as "will" or similar expressions. Forward-looking statements in this press release include statements with respect to the anticipated dates for filing the company's financial disclosure documents. Such forward-looking statements reflect current estimates, beliefs, and assumptions, which are based on 'management's perception of current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. No assurance can be given that the foregoing will prove to be correct. Forward-looking statements made in this press release assume, among others, the expectation that there will be no interruptions or supply chain failures as a result of COVID-19 and that the manufacturing, broker, and supply logistic agreement with the company does not terminate. Actual results may differ from the estimates, beliefs, and assumptions expressed or implied in the forward-looking statements. Readers are cautioned not to place undue reliance on any forward-looking statements, which reflect management's expectations only as of the date of this press release. The company disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.
