Venture Capital Platform Announces A New Investment In A Sustainable Packaging Solutions Company
NANAIMO/KELOWNA – Billy Goat Brands Ltd. (CSE: GOAT), a venture capital platform focused on identifying, sponsoring and incubating environmental, social and governance focused companies in the blue economy, has provided the following corporate update and investment outlook for Billy Goat’s shareholders, stakeholders and other interested parties.
The Company has announced its investment in Evanesce Packaging Solutions Inc., which is a sustainable packaging disruptor that is accelerating the adoption of green packaging while re-designing standard disposable food containers.
“Billy Goat sees the opportunity to fill a big gap in the food industry by incubating businesses in the blue economy that offer plant-based solutions and other alternatives in a market heavily dominated by the traditional meat industry. According to Polaris Market Research, the plant-based meat market is projected to reach $35.8 billion by 2027 as the pursuit of a more sustainable diet continues to be top of mind for many consumers,” said Tony Harris, Chairman and CEO of Billy Goat.
“We are energized by our newest investment in Evanesce Packaging, and look forward to supporting the business with our broad set of resources, and watching it grow to a significant position within the sustainable packaging industry,” added Mr. Harris.
Billy Goat offers investors a diversified exposure to rapidly growing companies with ESG values that are making a positive impact while providing innovative solutions to the global environmental crisis. The Company is committed to generating strong returns for its investors by allocating capital and resources to develop businesses that are paving the way of bringing sustainable products to market while reducing their carbon footprint, waste, and emissions. While Billy Goat seeks to capitalize on attractive investment opportunities, it is also committed to ensuring that corporate social responsibility is central to each investee company’s competitive strategy.
Over the course of 2021, the Company has expanded its portfolio of investee companies through various transactions focused on the blue economy, the segments of which include functional food, plant-based alternatives, food technology and green packaging solutions. In addition to the Evanesce investment, the Company has made three other core investments – Sophie’s Kitchen, The Vegetarian Butcher, and FunGuys Beverages.
Sophie’s Kitchen is a plant-based seafood brand that is rapidly expanding its product portfolio. Headquartered in Las Vegas, Nevada. Sophie’s offers a large selection of frozen and shelf-stable plant-based alternatives for vegans and non-vegans alike. Sophie’s products are always soy-free, gluten-free, non-GMO, and plant-based. Billy Goat is positioned to own up to 46 per cent of Sophie’s Kitchen.
The Vegetarian Butcher is a bricks-and-mortar retail grocery business offering plant-based protein products, with locations in Kelowna and Vancouver, British Columbia. TVB aims to provide meat alternatives, not only for vegetarians and vegans but for health-conscious consumers. Billy Goat currently holds a 12.4 per cent ownership stake in TVB, which has growth projections of 36 locations over the next three years, through a nationwide expansion plan.
FunGuys Beverages is a leading distributor of organic Chaga and Lions Mane mushroom-infused cold brew coffee under the KOLD brand. Headquartered in British Columbia, Billy Goat owns 100 pere cent of FunGuys, which offers a sustainable coffee ritual for consumers. Each serving of KOLD is infused with 160mg/oz of Chaga and Lions Mane mushroom extract, for a total of 640mg/oz of these mushrooms per 2oz serving.
As announced upfront, the Company has allocated capital to its fourth investee company. Headquartered in Vancouver, British Columbia, Evanesce develops standard disposable food containers using a patented compostable technology made from plant-based byproducts. To date, Evanesce has three issued patents, one pending patent, and seventeen claims. Evanesce is committed to developing innovative yet cost-effective green packaging solutions to provide alternatives for the food industry. The addition of Evanesce to Billy Goat’s portfolio paves the way for the Company to enter the green packaging solutions market, further diversifying its portfolio of investments in ESG-focused companies.