Extract From This Inaugural Shipment Will be Used for Product Testing, Formulation, and Sampling for Commercial Partners
TORONTO, ON, May 08, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire -- Power Leaves Corp. (“PLC”), a manufacturer of decocainized coca leaf extract, announced the completion of the first export of its proprietary cocaine-free coca leaf extract and essence products to Eurofins NSC Canada, Inc. (“Eurofins”). The products will be used for analytical testing and product formulation and sampling. Eurofins is a global leader in analytical testing and laboratory services, serving the food, environment, pharmaceutical, cosmetics and medical cannabis industries.
“With our facilities now complete, we are increasing production and preparing to launch our first sales to contract manufacturers globally,” commented Pat McCutcheon, Co-Founder & CEO, Power Leaves Corp. “We are seeing strong demand for our novel product and expect this testing and sampling to support the expansion of our coca extract business.”
“Eurofins is excited to work with Power Leaves not only to support their analytics needs, but also on formulating products for target segments that Eurofins is looking to expand its business like food and beverage, nutraceuticals, and cosmetics,” commented Sohil Mana, President of Eurofins Food, Pharma and Cosmetics in Canada. “Their coca extract will offer the market opportunities to develop new products across a number of categories with its potential health benefits and unique flavor profile.”
The product testing, formulation, and sampling associated with this shipment will be completed with support from commercial partners with the goal of expediting the commercialization of finished products.
Overall, the global food and beverage industry is experiencing rising demand for natural and nutritious products and ingredients that are free of chemicals and have an exceptional taste profile. Today, the majority of "flavor" agents are chemically synthesized, add zero nutritional value, and require an "artificial flavor" label that reduces customer appeal.
In comparison, PLC’s coca extract products offer a new "hero" ingredient that is immediately recognizable and makes products stand out. As a real food ingredient, PLC’s coca extract can add nutritional value to product labels and be listed as "natural flavors" or directly as "coca extract", increasing the positive health perception of a product.
About the Products
PLC has developed proprietary coca extracts optimized for flavor and aroma that will serve as the foundation for its commercial products. The coca extract is high in protein, vitamins, and nutrients and has multiple known health benefits including providing gastrointestinal relief, increases in energy, and appetite suppression, among others. Specifically, PLC has two core products:
Coca Extract:
- A crude coca extract with an exceptional flavor profile and packed with an array of nutrients that is ideal for soft drinks and energy drinks.
- The global carbonated beverage market is a $232B(1) opportunity, where "Cola" is the largest segment of the market, with natural cola products struggling to deliver a flavor that pops.
Coca Essence:
- A highly aromatic, terpene-rich concentrate for dilution and blending into alcoholic beverages such as gin, vodka, tequila, and hard seltzer.
- The U.S. alcoholic beverage market is a $283B(2) opportunity and in a "health trend" crisis, needing new, natural-based ingredients to reinvigorate products.
This announcement follows the completion of PLC’s 3 primary facilities in Colombia, including its FDA and INVIMA (Colombian FDA) registered Nevia facility. To date, PLC has completed initial small-commercial runs and confirmed its extracts maintain an exceptional flavor profile throughout its patent-pending extraction process. PLC is now scaling to large-commercial runs out of its existing facilities for product exports to global markets.
About Investing In Power Leaves Corp.
Power Leaves is currently accepting investments from accredited investors through a Reg D 506(c) offering. With over US$3.7M raised in the current round, the offering is expected to only be open for a limited time. To learn more about investing in Power Leaves visit invest.powerleaves.com.
About Power Leaves Corp.
Founded in 2019, Power Leaves is breaking the monopoly on the supply of coca leaf extract and ushering in a new Age of Coca. Through an exclusive agreement with an Indigenous community, Power Leaves has developed the first-ever legal Colombian supply chain for decocainized coca extract to supply the global food and beverage markets. Through its established infrastructure, Power Leaves is developing and manufacturing proprietary formulations of coca extract and essence that offer an exceptional taste profile and an all-natural source of protein, nutrients, and positive health benefits. For more information, visit www.powerleaves.com.
Media:
CMW Media
powerleaves@cmw.com
Investors:
Myra Group
Investor Relations
Evan@myragroup.co
- Market Data Forecast, 2022
- Statista, 2023
Cautionary Notes
This press release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this press release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected" "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could, "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors that may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; and the delay or failure to receive shareholder, director or regulatory approvals. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Except as required by law, PLC assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.
