Clal Insurance invests $10.5 million in Beyond Oil
Israeli insurer Clal Insurance is investing CAD $10.5 million in food-tech company Beyond Oil. The deal includes warrants that could bring in an additional CAD $21 million if fully exercised.
The Israeli institutional investor is also purchasing 1.8 million previously issued warrants from the Or family for CAD $2.2 million. As part of the agreement, Beyond Oil has committed to pursue an uplisting to a senior exchange in Canada or the U.S. within six months.
Proceeds will support product distribution and expansion.
Beyond Oil offers a patented solution to extend frying oil life, reduce harmful compounds, and cut costs for food service operators.
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