New partnership includes minimum purchase commitments for the first 5 years with expected revenue of $243,000 to be recognized in fiscal year 2025
Beyond Oil Ltd. a food-tech innovation company dedicated to reducing health risks associated with fried food while lowering operational costs, announced the signing of a Distribution Agreement with T&J Oil Pty Ltd. (T&J Oil), based in Perth, Australia. The agreement has a term of five years and marks Beyond Oil’s entry into the Australian market and includes the granting to T&J Oil of exclusivity, subject to T&J Oil, fulfilling its annual minimum quantity purchase commitments, for specific restaurant sectors in Australia.
Under the terms of the agreement, which became effective on January 22, 2025, T&J Oil will serve as the distributor of Beyond Oil’s proprietary oil treatment products for non-chain restaurants and local chains that do not utilise filter machines across Australia. The partnership is expected to help restaurants extend oil life, improve food quality, and reduce waste, aligning with Australia’s push for more sustainable practices in the food service industry.
The agreement includes aggregate minimum purchase commitments of $4,947,600 over its five-year term. For the first year of the agreement, T&J Oil has committed to purchasing a minimum of $243,600 worth of Beyond Oil’s products, with subsequent minimum commitments for the following four years increasing substantially. On top of the minimum commitments, the agreement also includes an annual licensing fee, amounting to a total of AUD$100,000 per year.
