Eat & Beyond’s Portfolio Company, Purpose ESG, Targets Growing CO2 Reduction Sector Through Investment in Carbon Upcycling Technologies
Clean Tech company with patented technology & global industry partnerships
Awarded over C$11M in Federal & Provincial grants
Production facilities in place for full-scale revenue generation in 2023
Vancouver, BC, June 13, 2023 (GLOBE NEWSWIRE) -- Eat & Beyond Global Holdings Inc. (CSE: EATS) (OTCPK: EATBF) (FSE: 988) (“Eat & Beyond” or the “Company”), an investment issuer focused on the global plant-based and alternative protein sector is pleased to announce that its portfolio company, Purpose ESG Holdings Inc. (“Purpose ESG”), an investment issuer building a portfolio of Clean Tech companies that support environmental, social, and governance (ESG) outcomes, has invested in Carbon Upcycling Technologies (“Carbon Upcycling”).
Carbon Upcycling is an award-winning Climate Tech company. Their patented carbon utilization technology helps hard-to-decarbonize industries transform carbon emissions, local industrial waste, and natural materials into carbon-enhanced additives. They are unlocking the next frontier of circular materials for the $750-billion-dollar cement industry[1] and for plastics and consumer products.
A brief overview of Carbon Upcycling’s technology is included in the PBS NOVA documentary Can We Cool the Planet? (from 21:14 to 24:34).
Click here to watch the Carbon Upcycling overview
“A report by Deutsche Welle (DW) in 2022 found that the cement and concrete industry alone produces 8% of all global CO2 emissions,” said Purpose ESG's CEO, Young Bann. “That makes Carbon Upcycling’s offerings very relevant since their primary focus is their unique, low-energy solution that lowers carbon emissions from concrete by at least 10%. That ability to address market and climate change urgencies played a large part in the Purpose ESG team investing in Carbon Upcycling as a vehicle with the potential for outsized returns on investment."
Carbon Upcycling’s patented technology also sequesters CO2 inside materials, improving their performance for sectors beyond cement, like plastics manufacturing, coatings, and consumer products.
The prestigious industry awards Carbon Upcycling has won also contributed to the Purpose ESG team choosing to invest, including:
Since 2014, Carbon Upcycling’s milestones include scaling up their technology to their current commercial reactor and producing over 2,000 tonnes of low carbon cement replacements for the Western Canadian market. The company continues to scale its technology and now has 5 commercial projects underway with some of the largest cement producers globally, including CRH and CEMEX. Today, Carbon Upcycling has production facilities in place to support expected full-scale revenue generation in 2023.
Carbon Upcycling has been awarded over C$11 million in grants from national and provincial institutions such as National Resources Canada and Emissions Reduction Alberta. Since the start of 2023, they have already been awarded funding for a C$4.4 million project and a C$600,000 project that includes a trans-national consortium between Carbon Upcycling and the US Department of Energy-funded National Renewable Energy Laboratory (NREL).
Purpose ESG is now looking forward to helping the Carbon Upcycling team identify and realize growth opportunities, with expectations for significant market penetration and leadership in 2023.
For more information about Purpose ESG and to sign up for their latest updates, visit purposeesg.com/
Sources:
1. https://www.canadianmanufacturing.com/manufacturing/carbon-upcycling-technologies-secures-6m-to-scale-up-their-infrastructure-280896/
ON BEHALF OF THE BOARD OF DIRECTORS
Young Bann, CEO
young@purposeesg.com
778-887-8912
ABOUT PURPOSE ESG HOLDINGS INC.
Purpose ESG Holdings Inc. (“Purpose ESG”) is an investment issuer building a portfolio of Clean Tech companies that support environmental, social, and governance (ESG) outcomes, with a focus on electrification, energy transitions, circular economy, carbon and new tech. Purpose ESG provides its investors with the opportunity to participate in the growth of a portfolio of breakthrough technologies and value chain solutions with market leadership potential. The Company works closely with its portfolio companies to drive their growth and success, ultimately working to build a smarter, cleaner, and more sustainable future. Learn more: purposeesg.com
For investor inquiries or further information, please contact: young@purposeesg.com
ABOUT EAT & BEYOND
Eat & Beyond is an investment issuer that identifies and makes equity investments in global companies that are developing and commercializing innovative food tech and sustainability. Led by a team of industry experts, Eat & Beyond is the first issuer of its kind in Canada, providing retail investors with the unique opportunity to participate in the growth of a broad cross-section of opportunities in the alternative food and sustainability sectors, and access companies that are leading the charge toward a smarter, more secure food supply.
For more information about Eat & Beyond and to sign up for our latest updates, visit eatandbeyond.com
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release and has neither approved nor disapproved the contents of this press release.
Cautionary Note
All information contained in this news release with respect to Purpose ESG was supplied by Purpose ESG for inclusion herein, and Eat & Beyond directors and officers have relied on Purpose ESG for such information.
Forward-Looking Information: This news release includes certain statements that may be deemed “forward-looking statements”. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “would”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this News Release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company’s disclosure documents which can be found under the Company’s profile on www.sedar.com
