Komo Plant Based Foods Significantly Expands Capacity With Launch of Increased Production Through Co-Manufacturing Agreement
VANCOUVER, BC / ACCESSWIRE / September 28, 2021 / Komo Plant Based Foods Inc. (CSE:YUM)(OTCQB:KOMOF)(FRA:9HB) ("Komo"), a premium frozen plant-based food company, announces that it has signed an agreement with an established food manufacturer in Metro Vancouver to produce two lines of its plant-based products. Production at this co-manufacturing facility commences today.
After months of due diligence of various potential co-manufacturing partners, Komo, on Sept 23, 2021 entered into a co-manufacturing agreement with a company whose facility is in Metro Vancouver. Pursuant to the agreement, Komo can immediately increase manufacturing for six of its products currently on the market. Komo has been preparing for expansion with this chosen co-manufacturer with the order of specialized equipment to produce Komo products, which arrived last week, allowing production to now begin.
"The demand for our products has been increasing since we launched earlier this year, and for months we have been straining to meet the demand from repeat retail orders and from our direct-to-consumer business," says Jeffrey Ma, President and CEO of Komo operating subsidiary, Komo Plant Based Comfort Foods Inc. "Commencing production at this new facility allows us to significantly increase our production output, and also frees up Komo's current facility for focused research and development. We are continuously refining our recipes to improve flavor, nutrient profile, and texture and we are exploring options for different dietary preferences, including gluten-free."
Komo launched in March 2021 with three product SKUs which were expanded to seven SKUs by June 2021. In July 2021 it moved to a larger commercial kitchen to scale up production to meet demand and today Komo is commencing production at the co-manufacturing facility. Komo estimates that the production capacity of the new co-manufacturing facility will allow it to manufacture an additional 10,000 units per month. This week Komo will begin producing, through the new co-manufacturer, its ready-to-bake classics Lasagna and Shepherd's Pie, and Komo's plant-based Meal Helpers, in multiple sizes.
In addition to building distribution channels and increasing sales, Komo's goals are to achieve better cost efficiencies with larger scale production and to negotiate better pricing of raw materials and packaging at scale.
"Food safety is key for any food brand and at Komo consumers can feel good and feel safe when enjoying Komo's products. We selected a co-manufacturing partner who meets our high standards of food quality and safety and who is well suited for our aggressive growth plan," says Mr. Ma. "We spent months reviewing facilities to find one that we believe is well suited to match our growth and local enough for us to carefully monitor the quality of our products. We have a tremendous amount of work ahead of us over the coming months as we ramp up for expansion throughout Canada and the United States. We are excited about this new relationship that will allow us to pursue our mission to help make plant-based meals a staple on every dinner table by sharing our love for feel-good food that connects people to the planet."
Komo Plant Based Foods Inc. is a premium plant-based food company that develops, manufactures and sells a variety of plant-based frozen meals that are always hearty, satisfying, and made with wholesome ingredients. At Komo, our mission is to help make plant-based meals a staple on every dinner table by sharing our love for feel-good food that connects the people to the planet. We believe plant-based eating is the future and - Change can start with a single biteTM. Our experienced plant-based innovation and development team recreates vegan versions of traditionally cheesy and meaty classics, with 100% plants. Komo's products are sold direct-to-consumer through our eCommerce website and a distribution network of online and brick and mortar grocery, convenience and natural retailer channels. Our operating subsidiary Komo Comfort Foods launched in 2021 with our flagship products: plant-based Lasagna, Shepherd's Pie and Chick'n Pot Pie and has recently launched a new line - Komo Plant-Based Meal HelpersTM - versatile meal starters to allow the creation of many dishes at home. All of our products are 100% plant-based, made with wholesome ingredients, free from preservatives, and frozen for freshness. Freezing products is a natural and effective way of keeping food products for longer without having to use any preservatives. Komo's meals have a 1-year frozen shelf life.
For further information, please contact:
William White, President & CEO, Komo Plant Based Foods Inc.
The Canadian Securities Exchange has not reviewed, approved or disapproved the contents of this news release.
Cautionary Statement Regarding Forward-Looking Statements
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or Komo's future performance. The use of any of the words "could", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Komo's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, Komo's product development plans, its ability to retain key personnel, and its expectation as to the acceptance of its products by consumers constitute forward-looking information. Actual results and developments may differ materially from those contemplated by forward-looking information. Readers are cautioned not to place undue reliance on forward-looking information. The statements made in this press release are made as of the date hereof. Komo disclaims any intention or obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable securities laws.
SOURCE: KOMO Plant Based Foods Inc.
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Released September 28, 2021