Goodfood Market Corp. (“Goodfood” or “the Company”) (TSX: FOOD) a
leading online grocery company in Canada, this week leads
sustainability efforts in Canada’s grocery industry by launching a
fully electric refrigerated vehicle fleet – a first for any private
entity in Canada. Goodfood continues to evolve and lead
environmental impact through technology as the newly electric
refrigerated vehicles begin rolling out across Vancouver throughout
September.
“As Canada aims to shift to all zero-emission
electric vehicles by 2035, we are thrilled with this exciting step
in launching fully electric refrigerated vehicles in Vancouver this
year,” said Goodfood Chief Executive Officer, Jonathan Ferrari.
“Innovation in technology is a core pillar for us at Goodfood. As
we continue to set the bar for a sustainable future, like our fully
recyclable Goodfood meal kit boxes and our plant-based ready-to-eat
salad packaging, we want to go beyond our products and bring
sustainability in grocery through delivery.”
In collaboration with Lightning eMotors, Volta
Air and Frigid Rentals, Goodfood is the first private entity to
receive a pre-approved grant from Plug-In BC for electric charging
infrastructure. The vehicles themselves have an estimated range of
200 kilometers on a full charge of its 86-kWh battery pack,
regenerative braking, and can comfortably hit 120km/hour –
silently.
“As program lead for the Fraser Basin Council’s
Climate Change and Air Quality Program, we are pleased to have been
part of this collaboration with Goodfood and their continued
commitment to pushing boundaries of what food and grocery look like
across the country,” said Plug-In BC Program Lead, Charging
Infrastructure, Inger Miller. “Going electric allows fleets to save
on operational costs and reduce emissions for a sustainable future
and we continue to do this through great partnerships with Canadian
owned companies like Goodfood.”
Goodfood’s partnership with Plug-In BC is one of
the many initiatives to innovate the way Canadians think about and
access groceries, including this week’s launch of Same-Day /
Next-Day Unlimited Delivery service in the Metro Vancouver Area. It
also follows Goodfood being named for the second consecutive year
on the third-annual TSX30™ list this week, as the company continues
to innovate for top performance and growth. “We will continue to
establish efficient and sustainable practices throughout our
company,” said Goodfood President and Chief Operating Officer, Neil
Cuggy.
The 10 newly electric refrigerated vehicles will
launch in Vancouver, British Columbia with continued roll-out in
the coming months across Canada.
ABOUT GOODFOOD
Goodfood (TSX:FOOD) is a leading online grocery
company in Canada, delivering fresh meal solutions and grocery
items that make it easy for customers from across Canada to enjoy
delicious meals at home every day. Goodfood’s vision is to be in
every kitchen every day by enabling users to complete their grocery
shopping and meal planning in minutes. Goodfood clients have access
to a unique selection of online products as well as exclusive
pricing made possible by its world class direct-to-consumer
infrastructure and technology that eliminate food waste and costly
retail overhead. The Company’s main production facility and
administrative offices are based in Montreal, Québec, with
additional production facilities located in the provinces of
Quebec, Ontario, Alberta, and British Columbia.
For further information:
Investors |
Media |
Roslane Aouameur Senior Director, FP&A and Investor
Relations(855) 515-5191IR@makegoodfood.ca |
Kelly BaitaSr. Account Director –
MSL Group (416) 786-8957kelly.baita@mslgroup.com |
FORWARD-LOOKING INFORMATION
This press release contains "forward-looking
information" within the meaning of applicable Canadian securities
legislation. Such forward-looking information includes, but is not
limited to, information with respect to our objectives and the
strategies to achieve these objectives, as well as information with
respect to our beliefs, plans, expectations, anticipations,
estimates and intentions. This forward-looking information is
identified by the use of terms and phrases such as "may", "would",
"should", "could", "expect", "intend", "estimate", "anticipate",
"plan", "foresee", "believe", and "continue", as well as the
negative of these terms and similar terminology, including
references to assumptions, although not all forward-looking
information contains these terms and phrases. Forward-looking
information is provided for the purposes of assisting the reader in
understanding the Company and its business, operations, prospects
and risks at a point in time in the context of historical and
possible future developments and therefore the reader is cautioned
that such information may not be appropriate for other
purposes.
Forward-looking information is based on a number
of assumptions and is subject to a number of risks and
uncertainties, many of which are beyond our control, which could
cause actual results to differ materially from those that are
disclosed in, or implied by, such forward-looking information.
These risks and uncertainties include, but are not limited to, the
following risk factors which are discussed in greater detail under
"Risk Factors" in the Company’s Annual Information Form for the
year ended August 31, 2020 available on SEDAR: limited operating
history, negative operating cash flow, food industry , COVID-19
pandemic as well as the impact of the vaccine rollout, quality
control and health concerns, regulatory compliance, regulation of
the industry, public safety issues, product recalls, damage to
Goodfood’s reputation, transportation disruptions, storage and
delivery of perishable foods, product liability, unionization
activities, consolidation trends, ownership and protection of
intellectual property, evolving industry, reliance on management,
factors which may prevent realization of growth targets,
competition, availability and quality of raw materials,
environmental and employee health and safety regulations, online
security breaches and disruption, reliance on data centers, open
source license compliance, future capital requirements, operating
risk and insurance coverage, management of growth, limited number
of products , conflicts of interest , litigation, catastrophic
events, risks associated with payments from customers and third
parties, being accused of infringing intellectual property rights
of others and, climate change and environmental risks. Although the
forward-looking information contained herein is based upon what we
believe are reasonable assumptions, readers are cautioned against
placing undue reliance on this information since actual results may
vary from the forward-looking information. Certain assumptions were
made in preparing the forward-looking information concerning the
availability of capital resources, business performance, market
conditions, and customer demand. In addition, information and
expectations set forth herein are subject to and could change
materially in relation to developments regarding the duration and
severity of the COVID-19 pandemic as well as the impact of the
vaccine rollout and its impact on product demand, labour mobility,
supply chain continuity and other elements beyond our control.
Consequently, all of the forward-looking information contained
herein is qualified by the foregoing cautionary statements, and
there can be no guarantee that the results or developments that we
anticipate will be realized or, even if substantially realized,
that they will have the expected consequences or effects on our
business, financial condition or results of operation. Unless
otherwise noted or the context otherwise indicates, the
forward-looking information contained herein is provided as of the
date hereof, and we do not undertake to update or amend such
forward-looking information whether as a result of new information,
future events or otherwise, except as may be required by applicable
law.
Goodfood Market (TSX:FOOD)
Historical Stock Chart
From Mar 2024 to Apr 2024
Goodfood Market (TSX:FOOD)
Historical Stock Chart
From Apr 2023 to Apr 2024