(TheNewswire)
Toronto, Canada – TheNewswire - April 25, 2023 - PlantFuel LifeInc . (“ PlantFuel ” or the “ Company ”) (CSE:FUEL ) , ( OTC:PLFLF ) , ( FSE:BR1B) a plantbased wellness performance supplement company, is pleased to announcethat Connor Yuen has been named as the new Chief Executive Officer(CEO), effective immediately. Yuen has been brought on to expandbusiness initiatives and foster relationships with retailers replacingBrad Pyatt, who will continue to serve the company as its Founder andact as a strategic consultant.
Under Pyatt's leadership, Plant Fuel Inc. has grownexponentially and gained recognition as an industry leader in thedevelopment of sustainable, plant based performance and proteinproducts. In his new role as a consultant, Pyatt will continue toprovide valuable guidance and support to the company while focusing onfurther advancing the innovative technology behind Plant Fuel Inc.'sproducts.
Connor Yuen brings a wealth of experience and a proventrack record of driving sales and expanding businesses into newchannels. His background in securing financing for capital-intensiveprojects and managing complex operations makes him the ideal candidateto lead Plant Fuel Inc. into its next phase of growth. The Company hasrecently seen a surge in interest from large retailers looking tostock its eco-friendly products. Under Yuen's leadership, Plant FuelInc. will focus on driving sales, expanding into new markets, andsecuring the necessary capital to fund its ambitious projects andoperations.
"I am excited to be joining Plant Fuel as CEO andlook forward to expanding the business, increasing company revenuesand continue delivering innovative, sustainable plant-based solutionsto consumers" said Yuen. "Together, we will capitalize onthe growing demand for our portfolio products, scale our operations,and position the company for long-term success." Plant Fuel Inc.is confident that Yuen's appointment as CEO will further strengthenits leadership position in the sustainable fuel industry and drivesignificant growth in the upcoming year.
While the total protein demand will double to 943.5million metric tons in 2054, the market for alternative proteins,including plant-based proteins, is expected to grow at 14% annually by2024 — up to a third of the protein market. The global plant-basedprotein market alone is expected to reach USD 10.8 billion by 2022supported by a CAGR of 6.7%. Growing interestdemand for plant-based protein alternatives has been largely driven by(1) an increasing awareness about the benefits of protein-rich dietand plant-based alternatives, (2) rising world demand for protein dueto rapid population growth, (3) growing consumer interest in foodsthat promote health and well-being, and (4) adoption of environmentalstewardship and protection of animal welfare. In Canada, more than 40%of the population is actively trying to incorporate more plant-basedfoods into their diets. Their compatibility with vegetarian, vegan and"flexitarian" lifestyles is now putting the spotlight onplant-based protein sources. 1
The company would also like to announce the appointmentof CFO Andy Wu to the Board of directors.
Marketing
Plant Fuel Inc has engaged Creative Direct MarketingGroup Inc. for marketing services. CDMG will, as appropriate, createcampaigns, reportalogs, newsalogs, e-mails series, and native anddisplay ads for physical and digital mediums, set up and manageremarketing campaigns, and bring attention to the business of thecompany in consideration of $1,060,000 (U.S.). The promotionalactivity will occur by print, e-mail and social media during the firstquarter of 2023.
The company has also engaged Carsten Schmider MediaRealtions will utilize its on-line programs with the aim of broadeningthe company's reach within the investment community, increasinginvestor awareness of the company, and attracting potential newinvestors through various on-line platforms and methods of engagementin consideration of up to 300,000 euros. The marketing servicesinclude project management and consulting for an on-line marketingcampaign, co-ordinating marketing actions, maintaining and optimizingAdWords campaigns, adapting AdWords bidding strategies, optimizingAdWords ads, and creating and optimizing landing pages. Thepromotional activity will occur by e-mail, Facebook and Google.
About Plant Fuel Inc.
Plant Fuel Inc. is a leading developer and provider ofsustainable, eco-friendly fuel alternatives. Established with amission to combat climate change and reduce global dependence onfossil fuels, the company offers innovative solutions that are bothenvironmentally responsible and economically viable. With a diverseportfolio of products and a commitment to ongoing research anddevelopment, Plant Fuel Inc. is dedicated to creating a greener futurefor generations to come. Visit PlantFuel online at https://plantfuel.com/ .
ON BEHALF OF THE BOARD
Connor Yuen
Chief Executive Officer
Investor Contact:
Cassidy McCord
P: 1-888-630-6938
E: ir@plantfuel.com
Forward-Looking Statements
This press release contains “forward-lookinginformation” and “forward-looking statements” within the meaningof applicable Canadian and United States securities laws(collectively, “ forward-looking information ”).Forward-looking information are often, but not always, identified bythe use of words such as “seek”, “anticipate”, “believe”,“plan”, “estimate”, “expect”, “likely” and“intend” and statements that an event or result “may”,“will”, “should”, “could” or “might” occur or beachieved and other similar expressions. Forward-looking information inthis press release includes, without limitation, statements relatingto future opportunities and expansion.
Developing forward-looking information involvesreliance on several assumptions and considerations of certain risksand uncertainties, some of which are specific to PlantFuel and othersthat apply to the industry generally.
The risk factors and uncertainties that could causeactual results to differ materially from the anticipated results orexpectations expressed in this press release. For additionalinformation about assumptions and risks and uncertainties applicableto PlantFuel, please refer to PlantFuel’s listing statement datedAugust 22, 2019 which is available on PlantFuel’s SEDAR profile at www.sedar.com .
Readers are cautioned to consider these and otherfactors, uncertainties and potential events carefully and not to putundue reliance on forward-looking information. The forward-lookinginformation contained herein is made as of the date of this pressrelease and is based on the beliefs, estimates, expectations andopinions of management on the date such forward-looking information ismade. The Company undertakes no obligation to update or revise anyforward-looking information, whether as a result of new information,estimates or opinions, future events or results or otherwise or toexplain any material difference between subsequent actual events andsuch forward-looking information, except as required by applicablelaw.
The CSE has neither approved nor disapproved thecontents of this news release. Neither the CSE nor its MarketRegulator (as that term is defined in the policies of the CSE) acceptsresponsibility for the adequacy or accuracy of this release.
1 https://nrc.canada.ca/en/research-development/research-collaboration/programs/plant-based-protein-market-global-canadian-market-analysis
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