- Purpose ESG has go-public portfolio including 2 Clean Tech companies
- Focused on making it easy to invest in Canadian and US startups
- Leadership has Clean Tech expertise & international network connections
Vancouver, BC, May 30, 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 provide an overview of its latest portfolio company investment: Purpose ESG Holdings Inc. (“Purpose ESG”). Purpose ESG is an investment issuer building a portfolio of Clean Tech companies that support environmental, social and governance (ESG) outcomes.
On May 19, 2023, Eat & Beyond announced its completion of the acquisition of 50% of the issued and outstanding securities in the capital of Purpose ESG pursuant to the terms and conditions of a securities exchange agreement dated April 26, 2023, among the Company, Purpose ESG, the shareholders and warrantholders of Purpose ESG.
Eat & Beyond’s CEO, Michael Aucoin, commented: “We’re excited to add Purpose ESG to our portfolio as a strategic diversification into new sectors. Their focus on ‘clean’ and ‘tech’ is a natural fit with our goal of making it easy to invest in innovative companies that are working to create a smarter and more sustainable world.”
Purpose ESG’s CEO, Young Bann commented: “We welcome Eat & Beyond’s investment and support, both of which will help us continue making it easy to invest in Canadian and US Clean Tech startups with the aim of achieving outsized returns through our fast track go-public strategies. By providing access to ESG investment opportunities that are specifically addressing the world’s urgent environmental issues, we’re ensuring that our shareholders’ investments have impactful purposes and the potential for market-beating returns.”
Purpose ESG’s investment strategy involves 4 pillars:
- Discover ESG tech startups in Canada and the US at early and pre-growth stages
- Work with portfolio companies to identify and realize incremental growth opportunities
- Deliver 2 to 3 equity-linked investments annually with fast track go-public pathways
- Capitalize through management buy-backs, public offerings and trade sales
Their go-public portfolio currently consists of 2 companies:
- Stardust Solar Technology Inc. is a British Columbia-based solar and EV charging franchiser that includes 3 entities generating revenues: from training of certified solar energy designers, installers and system managers; from franchising of solar business and equipment sales opportunities; and from expansion into the US solar market.
- Carbon Upcycling Technologies is an Alberta-based waste and carbon utilization company with a patented technology platform that converts CO2 gas into nanomaterials. Their initial focus is on sequestering industrial CO2 in the massive cement and concrete market, which is the source of 8% of global CO2 emissions.
Purpose ESG’s sector emphasis is on 5 core technologies poised for substantial growth due to their ability to drive sustainability and the increasing global efforts to reduce CO2 emissions:
- Electrification: energy storage systems (ESS); EV batteries & battery management systems (BMS)
- Circular economy: biodegradable plastics; EV battery recycling; waste-to-energy
- Hydrogen power: primarily for heavy road transport
- Carbon capture: blue hydrogen/methanol; CO2 enforced concrete
- Food tech: alternative protein; urban/vertical farming
Leading Purpose ESG is a lean and qualified operating team with industrial expertise, proven business credentials, and valuable international market network connections:
- CEO Young Bann served as a Corporate Executive in General Electric and as CEO of Hyundai Materials (a Hyundai Motor Group affiliated company) and has built business relationships with ESG industry leaders for over 30 years.
- CFO Kelvin Lee serves as CFO and Director for multiple listed and private companies, and holds a CPA, CGA designation and a Bachelor of Business Administration (Hons).
For more information about Purpose ESG and to sign up for their latest updates, visit purposeesg.com/
Contact Information for Purpose ESG:
Young Bann, CEO
Purpose ESG Holdings Inc.
young@purposeesg.com
778-887-8912
For investor inquiries or further information, please contact: young@purposeesg.com
ABOUT EAT & BEYOND
Eat & Beyond is an investment issuer that makes it easy to invest in the future of food. Eat & Beyond identifies and makes equity investments in global companies that are developing and commercializing innovative food tech as well as plant-based and alternative food products. Led by a team of food 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 sector, 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
ON BEHALF OF THE BOARD OF DIRECTORS:
Michael Aucoin, CEO
Info@Eatbeyondglobal.com
(604) 416-4099
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
