Eat Beyond portfolio company Nabati Foods builds new plant

27-May-2021 - Canada

Eat Beyond Global Holdings Inc. (CSE: EATS, OTCPK: EATBF, FWB: 988) (Eat Beyond or the Company), an investment firm focused on the global plant-based and alternative foods industry, announces that its portfolio company, Nabati Foods Global Inc. (Nabati Foods) recently completed construction of a new manufacturing facility in Edmonton, Alberta. The building is approximately five times the size of the original pilot plant.

Nabati Foods offers all-natural, plant-based foods, including dairy-free cheesecakes, cheese alternatives and plant-based meats. The 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 able to produce 1.2 million lbs of plant-based cheeze and approximately 1 million lbs of plant-based meat, with capacity potentially increasing as the facilities are upgraded, said Patrick Morris, CEO of Eat Beyond. Nabati Foods has wisely reinvested a portion of the $7.7 million capital raise from its recent oversubscribed funding round into this project. Eat Beyond is confident that Nabati will quickly see a significant return on this investment as the company expands 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 continue to expand its team.

The demand for our products, especially Nabati Cheeze, has been so tremendous that we have experienced wait times of several months, said Ahmad Yehya, CEO of Nabati Foods. This new production space will allow us to keep up with increasing demand and serve our growing customer base.

Eat Beyond looks forward to continuing to partner, advise and financially support Nabati Foods' high-quality products, innovative product lines and growing distribution network. (dpa)

Note: This article has been translated using a computer system without human intervention. LUMITOS offers these automatic translations to present a wider range of current news. Since this article has been translated with automatic translation, it is possible that it contains errors in vocabulary, syntax or grammar. The original article in German can be found here.

https://www.yumda.com/en/news/1171237/eat-beyond-portfolio-company-nabati-foods-builds-new-plant.html