Blue Star Foods Signs Agreement with Eagle Rising to Provide High-Quality, Nutritious Meals for U.S. Military
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The agreement between Blue Star Foods Corp. and the U.S. Military, facilitated by Eagle Rising, represents a strategic move within the food supply sector with potential economic and stock implications. The partnership aligns with the current trend of government contracts being awarded to companies with strong ESG credentials, which could position Blue Star favorably in the eyes of investors concerned with sustainable and ethical operations.
The rollout to military bases signifies a substantial increase in demand for Blue Star's products, which could lead to an uptick in production and potentially boost the company's financial performance. The emphasis on locally sourced ingredients and the production of meals within the U.S. could resonate with patriotic sentiments and may also contribute to a positive public image, potentially attracting socially conscious investors.
However, the success of this rollout and its impact on Blue Star's bottom line will depend on the company's ability to scale operations efficiently and manage the increased logistical demands. The long-term benefits will be contingent on the ongoing satisfaction of the military with the meal options provided and the potential for renewal or expansion of the contract.
Blue Star Foods Corp.'s announcement of a supply agreement with the U.S. Military has immediate implications for the company's financial outlook. The deal is likely to lead to a predictable and stable revenue stream over the contract period, which is a positive indicator for investors. The diversification of Blue Star's revenue sources, with the addition of a government contract, may reduce the company's risk profile.
Investors will be monitoring the initial costs associated with the launch, such as ramping up production and distribution to multiple military bases. These costs could affect short-term profitability but are expected to be offset by the steady income provided by the contract. Moreover, the market will be looking for signs of operational efficiency and margin improvements as the company scales up to meet the demands of the contract.
The stock market reaction to such news typically involves a reevaluation of the company's growth prospects. If Blue Star can demonstrate effective execution of the contract and signal potential for further government deals, this could lead to a positive reassessment of the company's valuation.
The partnership between Blue Star Foods Corp. and Eagle Rising underscores the growing importance of ESG factors in business operations, particularly within government contracting. The focus on sustainable seafood and the use of Recirculatory Aquaculture Systems (RAS) aligns with increasing governmental and consumer demands for responsible sourcing and environmental stewardship.
From an ESG perspective, this deal could enhance Blue Star's reputation as a leader in sustainable meal solutions, which is an increasingly relevant factor for investors. Companies with robust ESG practices often experience a 'halo effect', potentially leading to better access to capital, improved market perception and a competitive edge.
However, it's important for Blue Star to maintain transparency and continue to meet high ESG standards. Failure to do so could lead to reputational damage and adverse effects on investor sentiment. The long-term success of this partnership may also hinge on the company's ability to demonstrate measurable ESG outcomes, which could further solidify its position within the sustainable food industry.
Initial Launch Expected to Roll Out to Numerous Military Bases Over the Next Few Months
Miami, FL, April 10, 2024 (GLOBE NEWSWIRE) -- Blue Star Foods Corp., (“Blue Star,” the “Company,” “we,” “our” or “us”) (NASDAQ: BSFC), a leader in value-added meal solutions and an integrated Environmental, Social, and Governance (ESG) sustainable seafood company with a focus on Recirculatory Aquaculture Systems (RAS), is profoundly honored to announce the successful execution of a supply agreement to provide manufacturing of Eagle Rising specified innovative food solutions for the U.S. Military under the support of our recently established Master Service Agreement (MSA). This pivotal agreement facilitates the provision of premium products distributed under the renowned Eagle Rising Brand, a Service-Disabled Veteran-Owned Small Business (SDVOSB), directly supporting the brave men and women serving in the United States military.
This strategic partnership marks a significant milestone for BlueStar Food Group as we align our mission of delivering high-quality, nutritious, and sustainably sourced meals with the expert guidance and oversight of Eagle Rising in support of our nation's defenders. The agreement encompasses the rollout of thirteen meticulously crafted meal options, each designed to meet the rigorous nutritional standards and diverse preferences of military personnel.
Key Highlights of the Agreement:
- Patriotic Partnership: Our collaboration with the Eagle Rising Brand signifies a shared commitment to supporting our troops. By providing them with meals that resonate with the quality and integrity of the Eagle Rising Brand, we are together honoring their service and sacrifice.
- Nutritional Excellence: BlueStar's operating company has committed to the creation of thirteen exceptional meals. These offerings are not only rich in nutrients but also cater to the culinary diversity and preferences of our troops, ensuring a balanced and satisfying dining experience.
- Homegrown Quality: Every meal within this program is proudly produced in the USA, leveraging locally sourced ingredients to reinforce our dedication to quality, sustainability, and the bolstering of domestic economies.
- Unwavering Commitment: BlueStar Food Group is privileged to contribute to the well-being of our nation's military forces, underlining our commitment to excellence, national duty, and innovation in food solutions.
John Keeler, CEO of BlueStar, commented, "We are honored to work with the team from Eagle Rising and admire their dedication to our nation. It is this same ethos that is engaged in the principles within BlueStar and all our operating companies. This initial launch, which will roll out to 14 military bases over the next few months, is the start of a great partnership with the Eagle Rising team."
David Longstaff, CEO of Eagle Rising, stated, "As a Service-Disabled Veteran-Owned Small Business (SDVSB), founded by a Career Military Officer/Veteran, we understand the importance of quality nutritious meals for the men and women that serve our proud nation. We have chosen to work with BlueStar to bring high-quality nutritious meals to our troops. We look forward to growing future opportunities with our execution partners."
About Blue Star Foods Corp. (NASDAQ: BSFC)
Blue Star Foods Corp. is at the forefront of developing innovative, nutritious, and sustainable meal solutions for various sectors, including military, education, and healthcare. With a focus on quality, sustainability, and community support, BlueStar is dedicated to making a difference through food. Blue Star Foods is an integrated Environmental, Social, and Governance (ESG) sustainable seafood company with a focus on Recirculatory Aquaculture Systems (RAS) that processes, packages and sells high-value seafood products.
The Company believes it utilizes best-in-class technology, in both resource sustainability management and traceability, and ecological packaging. The Company also owns and operates the oldest continuously operating Recirculating Aquaculture System (RAS) full grow-out salmon farm in North America. The company is based in Miami, Florida, and its corporate website is: https://bluestarfoods.com
About Eagle Rising
Eagle Rising is a Service-Disabled Veteran-Owned Small Business specializing in high-quality food solutions for military personnel, communities in crisis, and disaster relief efforts. With a commitment to feeding heroes and making products in the USA, Eagle Rising is proud to support those who serve and protect around the globe. Learn more at (https://eaglerisingfs.com/).
Forward-Looking Statements:
The foregoing material may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. Forward-looking statements include all statements that do not relate solely to historical or current facts, including without limitation statements regarding the Company’s product development and business prospects, and can be identified by the use of words such as “may,” “will,” “expect,” “project,” “estimate,” “anticipate,” “plan,” “believe,” “potential,” “should,” “continue” or the negative versions of those words or other comparable words. Forward-looking statements are not guarantees of future actions or performance. These forward-looking statements are based on information currently available to the Company and its current plans or expectations and are subject to a number of risks and uncertainties that could significantly affect current plans. Risks concerning the Company’s business are described in detail in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022, and other periodic and current reports filed with the Securities and Exchange Commission. The Company is under no obligation to, and expressly disclaims any such obligation to, update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.
Investor Contacts:
investors@bluestarfoods.com
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