BEND, Ore., June 17, 2024 (GLOBE NEWSWIRE) -- BranchOut Food Inc. (NASDAQ: BOF), a leading food technology company specializing in dehydrated fruit and vegetable-based products, today announced it has signed a purchase agreement for a 10kW Radiant Energy Vacuum (REV) machine, built by EnWave Corporation (TSX-V: ENW | FSE: E4U). The machine will be installed at BranchOut Food’s new, large-scale facility in Peru and will be used for R&D, rapid product development and production scale-up in response to new product requests from major retailers and large brands.
Eric Healy, CEO of BranchOut Food, said: “BranchOut Food receives frequent requests to develop and iterate new product concepts for major retailers and brands. Part of our strategy for growth involves being able to respond expeditiously, utilizing our technology to develop new and unique products that have never been available before. We believe this gives us a strong advantage in the market and allows us to fully take advantage of this new technology.”
“The nation’s largest retailer recently commissioned BranchOut to develop and deliver two new products. This has really helped cement our relationship with the retailer, which now views us as a product development partner with the ability to offer true innovation. We are currently working with a large number of major retailers and brands in various stages of developing items for them that could lead to long term production engagements.”
BranchOut Food is currently filling orders valued at over $9 million from some of the country’s largest retailers. The Company expects to receive additional branded and white label orders throughout 2024.
In May 2024, BranchOut Food announced that it had secured a long-term lease on its facility in Peru. The large-scale factory is capable of $40 million in production capacity and is expected to deliver growth of 40-50% in the company’s gross margins as production increases.
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 Twitter.
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 information
Jeff Ramson
PCG Advisory
646-863-6893
jramson@pcgadvisory.com
