Momentous Holdings Corp. Initiates Technical Design And Budgeting Of Upscaled Production Facilities
04/23/2020 | 09:00am EST
Momentous Holdings Corp. (Ticker: MMNT) herein after “Momentous” and/or “the Company”) is pleased to provide an update on the planned improvements to both the distillery equipment and associated production facilities.
As part of the Company’s strategy of creating premium spirits using unique and modern environmentally-friendly production techniques, management has identified certain upgrades that are required in order to facilitate upscaled capacity for our growing product range and meet consumer demand.
Momentous has retained an industry specialized advisory company to implement the procurement process alongside third-party technical and engineering oversight. As part of the remit, the Company has instructed that supply of new equipment will require multiple price proposals, and if possible tender applications, in order to maximize cost savings and price efficiency.
Distillation and Production Equipment Originally developed for the pharmaceutical industry, using a proprietary and innovative self-cooling technology, the distillation equipment has evolved to be more efficient, to have a smaller footprint, and to be less costly to operate than traditional heat intensive methods. With a 50 Liter capacity, the new equipment will be able to produce 200 Liters of our products per hour.
Storage and Process Tanks With Integrated Cooling Systems Our revised distillery design is formatted to allow for concurrent production of multiple products. The design incorporates a bespoke cooling system to accompany a 3,600 Liter multi-tank setup.
Bottling and Canning Lines The design incorporates complete and automated systems that have the capability to bottle, cork/cap and label multi-size bottles and cans. The product specification allows for the possibility of creating an additional revenue stream through contract packing for other producers. The systems will have the capacity of 1,500 bottles and 2,000 cans per hour.
Andrew Eddy, Chief Executive Officer said “We are working to develop our distillery into a cutting edge facility with a reduced impact on the environment, which is capable of serving projected domestic and international demand for our products. We have received the majority of the designs and costings for the core equipment and we are moving forward with nominations for our preferred bidders, and placement of purchase contracts with these suppliers.” Mr. Eddy continued “Upon completion, our theoretical peak annual capacity for production and bottling will stand at 2.5 million and 13 million bottles respectively.”*
About Momentous Holdings Corp. Momentous Holdings Corp. is engaged in the business of designing, producing, marketing and selling low carbon, eco-friendly alcoholic beverages. Through its wholly owned subsidiary, V Beverages Limited., the Company produces a range of alcoholic spirits under its trademarked brand 'Victory'. Victory Gin and Victory Bitter are 2018 IWSC award winners, and the distillery has also added a premium Vodka and Ready-To-Drink Cocktails to its portfolio. The Company is publicly traded on the OTC Markets exchange in the United States (Ticker: MMNT). For more information visit www.vbeverages.com
Safe Harbor Statement
This release contains certain "forward-looking statements" relating to the business of the Company. All statements, other than statements of historical fact included herein are "forward-looking statements", including statements regarding: the continued growth of the beverages segment and the ability of the Company to continue its expansion into that segment; the ability of the Company to attract customers and partners and generate revenues; the ability of the Company to successfully execute its business plan; the business strategy, plans, and objectives of the Company; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions and involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks, and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume any duty to update these forward-looking statements.