MIAMI, Sept. 07, 2023 (GLOBE NEWSWIRE) -- UMeWorld Limited (OTC: UMEWF) is pleased to announce a milestone expansion of its edible oil segment. Culminating a year long aggressive push into the North American market, UMeWorld will be opening a pilot-scale edible oil manufacturing facility in Ontario, Canada, bottling a wide array of high diacylglycerol (DAG) content edible oils – beginning with DAG olive oil. This will expand the Dagola™ product line and represents a diversification away from canola oil based products. Creation of a multi-faceted Canadian manufacturing facility is a vital step in vertical integration efforts, and will streamline distribution, logistics and product appeal to North American consumers.
This expansion seeks to capitalize on innovations in enzymatic technologies and is specifically timed to bring to scale these preeminent processes. Enabling unprecedented improvements in DAG oil manufacturing, this innovation results in marked improvements in end product quality. “Directly leveraging these innovations into our product line is consistent with our agile philosophy and demonstrates the commitment of UMeWorld to uncompromising quality in its consumer products,” says Michael Lee, CEO of UMeWorld.
The same innovations have demonstrated promise in the refinement of cooking oil into biodiesel, allowing broad opportunities for UMeWorld in further expanding its Dagola™ product offerings into parallel industries. As the enzymatic processes can be used in minimizing waste products through the breakdown of used cooking oil into biodiesel, a commercialization opportunity arises as byproducts can become marketable, serving to increase overall margins in the segment.
UMeWorld remains uniquely positioned to enter into the rapidly expanding biodiesel market. Currently valued at USD $32 billion and with a compound annual growth rate of roughly 10%, this market will have continual staying power over the coming years as consumers and governments seek environmentally friendly replacements or supplements to traditional diesel and gasoline.
“The synergies present between our oil manufacturing segment and developments in our edible oils segment is immediately apparent not just in the realm of biodiesel production, but as regards broader integration, and will accrue advantages across the board. UMeWorld is excited to explore and leverage upon these growing synergies to create stakeholder value now and in the future.”
About UMeWorld
We are an integrated edible oil company. We are building a vertically integrated midstream refining and value-added downstream business that makes us an integral supplier of food, feed, oleochemicals and renewable fuel needs across a variety of industries.
About Dagola Inc.
Dagola Inc. is a wholly-owned U.S. subsidiary of UMeWorld Limited. Dagola Inc. is engaged in the sales and marketing of novel foods in North America. For more information about Dagola Inc., please visit www.dagolaoil.com.
Media Contact:
Michael Lee, CEO
UMeWorld Limited
Email: info@umeworld.com
Forward-Looking Statements
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