Eat Beyond Portfolio Company Nabati Foods Builds New Facility

Rhea-AI Summary

Eat Beyond Global Holdings Inc. (CSE: EATS, OTCPK: EATBF) has announced that its portfolio company, Nabati Foods Global Inc., has completed the construction of a new manufacturing facility in Edmonton, Alberta. This facility is approximately five times larger than its pilot plant, enabling Nabati to produce 1.2 million pounds of plant-based Cheeze and about 1 million pounds of plant-based meat. Nabati Foods has reinvested $7.7 million from its recent financing round into this project to meet increasing demand, with plans to extend its reach across North America and Europe.

Positive

• Nabati Foods completed a new manufacturing facility, expanding production capacity significantly.
• The facility can produce 1.2 million pounds of plant-based Cheeze and 1 million pounds of plant-based meat.
• Nabati Foods is responding to high product demand, with waiting lists indicating strong market interest.
• The $7.7 million reinvestment from a recent financing round supports growth and operational scalability.

Negative

• None.

VANCOUVER, BC, May 25, 2021 /PRNewswire/ - Eat Beyond Global Holdings Inc. (CSE: EATS) (OTCPK: EATBF) (FSE: 988) ("Eat Beyond" or the "Company"), an investment issuer focused on the global plant-based and alternative food sector, is announcing that its portfolio company Nabati Foods Global Inc. ("Nabati Foods") recently completed construction of a new manufacturing facility in Edmonton, Alberta.  The building is roughly five times larger than the original pilot plant.

Nabati Foods offers whole, natural, plant-based, foods including dairy-free cheesecakes, cheese alternatives, and plant-based meats. Its products are compatible with most dietary restrictions or preferences and are free of all common allergens. The products are non-GMO and contain no refined sugars, dairy, eggs, gluten, or soy.

"With this new facility, Nabati Foods is now capable of producing 1.2 million pounds of plant-based Cheeze and about 1 million pounds of plant-based meat, with capacity potentially continuing the increase as the equipment is upgraded," said Patrick Morris, CEO of Eat Beyond.  "Nabati Foods has wisely reinvested a portion of its $7.7 million capital infusion from its recent oversubscribed financing round into this project.  Eat Beyond is confident that Nabati will quickly see a significant return on that investment as it extends its geographic reach across North America and eventually into Europe."

Nabati Foods will also house its research and development department in the new facility and will continue to expand its team.

"Demand for our products, especially Nabati Cheeze, has been so enormous, that we had waiting lists that were several months long," said Ahmad Yehya, CEO of Nabati Foods. "This new production space will enable us to keep pace with increasing demand and supply our growing list of clients."

Eat Beyond looks forward to continuing its partnership, counsel, and financial support for Nabati Foods' high-quality products, innovative product lines, and growing distribution network.

Subscribe to receive updates about Nabati here: https://invest.nabatifoods.com  

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About Eat Beyond Global Holdings

Eat Beyond Global Holdings Inc. ("Eat Beyond") (CSE: EATS) (OTCPK: EATBF) (FSE: 988) is an investment issuer that makes it easy to invest in the future of food. Eat Beyond identifies and makes equity investments in global companies that are developing and commercializing innovative food tech as well as plant-based and alternative food products. Led by a team of food industry experts, Eat Beyond is the first issuer of its kind in Canada, providing retail investors with the unique opportunity to participate in the growth of a broad cross-section of opportunities in the alternative food sector, and access companies that are leading the charge toward a smarter, more secure food supply. Learn more: https://eatbeyondglobal.com/ Subscribe for updates here: https://eatbeyondglobal.com/contact/

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SOURCE Eat Beyond Global Holdings Inc.

FAQ

What is the significance of Nabati Foods' new facility for EATBF investors?

The new facility significantly increases production capacity, which can lead to higher revenues and potentially boost the stock value for EATBF investors.

How much did Nabati Foods reinvest from its financing round?

Nabati Foods reinvested $7.7 million from its recent oversubscribed financing round into the new manufacturing facility.

What products does Nabati Foods produce?

Nabati Foods specializes in plant-based foods, including dairy-free cheesecakes, cheese alternatives, and plant-based meats.

How does the new facility impact Nabati Foods' market reach?

With increased production capacity, the new facility allows Nabati Foods to expand its geographic reach across North America and Europe.

Where is Nabati Foods' new manufacturing facility located?

The new manufacturing facility is located in Edmonton, Alberta.