GFI ANNOUNCES FINAL COMPLETION OF STATE-OF-THE-ART PEA SPLITTING FACILITY
Operation is the Most Environmentally Friendly of its Kind in Canada, Contributing to GFI's Zero-Waste, Value Creation Strategy
TORONTO, June 29, 2022 /CNW/ - Global Food and Ingredients Ltd. (TSXV: PEAS) ("GFI"), is pleased to announce the final completion of a state-of-the-art pea splitting facility (the "Facility") at its plant-based ingredient processing complex in Zealandia, Saskatchewan.
The Facility is capable of processing over 60,000 metric tonnes of yellow and green peas into split peas and pea fibre annually at full capacity and is ideally situated to use Zealandia's competitive rail, container and truck freight options to ship finished product to key markets globally. The Facility uses advanced steam-based technology, producing industry leading quality and efficiency that dramatically reduces water utilization compared to older technologies and recycles heat resulting in a uniquely low environmental impact process.
The installation of this operation at GFI's existing Zealandia facility has allowed GFI to leverage its existing infrastructure and employee base to build a world class facility at an attractive total project cost with modest incremental operating costs, which management of GFI believes will result in an attractive return on investment.
GFI has launched and is marketing its split peas under GFI's North Lily wholesale brand, offering both Premium and Ultra Premium quality standards to its customers, meeting the highest industry quality specifications in every global market.
By-products produced during the pea splitting process will be used in GFI's pet food ingredients production process at its Bowden, Alberta facility, creating a zero-waste process that maximizes value creation at every step of the process.
"Our new pea splitting facility is a cornerstone to GFI's plant-based ingredients strategy, using leading edge technology to provide top quality split peas to food markets, while also providing inputs for our pet food ingredients business, connecting our business lines and maximizing margins while eliminating waste," commented David Hanna, GFI's CEO.
About GFI
GFI is a fast-growing Canadian plant-based food and ingredients company, connecting the local farm to the global supply chain for peas, beans, lentils, chickpeas and other high protein specialty crops. GFI is organized into four primary business lines: Pea Protein Inputs, Plant-Based Ingredients, Plant-Based Pet Food Ingredients and Plant-Based Consumer Packaged Goods. Headquartered in Toronto, GFI buys directly from its extensive network of farmers, processes its products locally at its four wholly-owned processing facilities in Western Canada and ships to 37 countries across the world.
GFI's vision to become a vertically integrated farm-to-fork plant-based company providing traceable, locally sourced, healthy and sustainable food and ingredients. Through recent acquisition and development activities, GFI now offers a full suite of Plant-Based Consumer Packaged goods with over 20 SKUs under the YoFiit, Bentilia and Five Peas in Love brands.
Disclaimer
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Forward-Looking Statements
This press release may contain certain forward-looking information and statements ("forward-looking information") within the meaning of applicable Canadian securities legislation, that are not based on historical fact, including without limitation statements containing the words "believes", "anticipates", "plans", "intends", "will", "should", "expects", "continue", "estimate", "forecasts" and other similar expressions. Forward looking statements in this press release include without limitation GFI's business objectives. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. GFI undertakes no obligation to comment analyses, expectations or statements made by third-parties in respect of GFI, its securities, or financial or operating results (as applicable). Although GFI believes that the expectations reflected in forward-looking information in this press release are reasonable, such forward-looking information has been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond GFI's control, including the risk factors discussed in GFI's Filing Statement dated May 30, 2022, which are incorporated herein by reference and are available through SEDAR at www.sedar.com. The forward-looking information contained in this press release are expressly qualified by this cautionary statement and are made as of the date hereof. GFI disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.
SOURCE Global Food and Ingredients
GLOBAL FOOD AND INGREDIENTS LTD., Bill Murray, CFO, Phone: 416-840-6801, Email: [email protected]
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