NEW YORK, April 25, 2024 (GLOBE NEWSWIRE) -- FinancialBuzz.com News Commentary
The breathalyzer market has witnessed significant growth and technological advancements in recent years. With increasing concerns over road safety and stringent legal measures against drunk driving, the demand for breathalyzers has surged globally. Innovations such as fuel cell technology, which offers high accuracy and reliability, have become more prevalent. Moreover, the integration of connectivity features enabling real-time data sharing with law enforcement and monitoring systems has expanded the applications of breathalyzers beyond just personal or law enforcement use to workplace safety and healthcare diagnostics. As of recent assessments, the global breathalyzer market is projected to reach approximately USD 9.3 billion by 2030, reflecting a compound annual growth rate (CAGR) of about 18.1% from 2023 onwards, according to data provided by Grand View Research. Cannabix Technologies Inc. (OTC: BLOZF) (CSE: BLO), Molson Coors Beverage Company (NYSE: TAP), Anheuser-Busch InBev SA/NV (NYSE: BUD), The Boston Beer Company, Inc. (NYSE: SAM), Diageo Plc (NYSE: DEO).
Alcohol-impaired driving remains a critical concern worldwide, contributing significantly to road accidents and fatalities. According to the World Health Organization, road traffic injuries caused by alcohol impairment are a major public health problem that account for nearly 1.35 million deaths annually. In the United States alone, about 28% of all traffic-related deaths are attributed to alcohol-impaired driving. Breathalyzers play a pivotal role in combating these statistics by providing a tool for law enforcement and individuals to assess alcohol impairment accurately and swiftly. This capability not only helps in enforcing drinking and driving laws but also in promoting a wider cultural shift towards responsible alcohol consumption and enhancing public safety.
Cannabix Technologies Inc. (OTC: BLOZF) (CSE: BLO), a developer of alcohol and marijuana breathalyzer screening devices for law enforcement and the workplace, just announced breaking news that, “Friedel, LLC (“Friedel Clinic”) a private monitoring agency, based in Montana has deployed the Breath Logix Alcohol Breathalyzer (formerly known as the “CAB” product offering) under its 24/7 Sobriety Program. Under the 24/7 Sobriety Program, participants, as a condition to their probation release, are scheduled for twice daily alcohol breath testing at designated locations within the state. The Company reports that the Breath Logix device has been used daily, collecting over a thousand breath samples autonomously. The device captures user photos to confirm and record identity, and delivers near instantaneous Blood Alcohol Content (BAC) breath results.
Probation Officer, Neil Friedel stated, “In a relatively short period of time the Breath Logix device has become an invaluable device under our 24/7 Sobriety Program. The device allows our clients to autonomously get tested for breath alcohol without the need for our clinic to station a full-time administrator -- its a game changer for us. Our clinic is saving time and money daily with the Breath Logix device deployed in our office. It has quickly become part of our daily routine and work flow process in our clinic.”
The Friedel Clinic has a robust drug testing operation and is one of the top drug and alcohol testing providers to the judicial system and employers within the state of Montana. The high-volume clinic has a diverse range of patients and focuses on private sector testing for alcohol and illicit drugs.
Cannabix has been piloting its Breath Logix Alcohol screening device as a new solution for the 24/7 Sobriety Program, which exists in several states in the United States. This program seeks to reduce the re-arrests of individuals previously convicted of driving while under the influence (DUI) of alcohol or drugs through daily breath testing.
In a 24/7 Sobriety Program, offenders are scheduled for twice daily alcohol testing at select locations in a given state or county. Currently the program requires dedicated employees to administer alcohol tests with a handheld alcohol breathalyzer throughout the day. The Breath Logix could revolutionize the program by delivering autonomous collection and reporting of alcohol results to administrators leading to significant savings and process efficiency.
The Breath Logix Industrial Series is a weather resistant device with a host of requested features including patent pending pre-calibrated cartridge technology which will allow site safety administrators to easily maintain their devices, and eliminate the need for costly calibration equipment and time-consuming site visits from technicians for maintenance. This device can be used for pre-access alcohol testing, random testing, start-of-shift testing, pre-employment testing, return-to-work testing, post-incident testing and for the 24/7 Sobriety Program.
The Breath Logix Alcohol device automatically checks the sobriety of a user and can take a picture to confirm and record identity while a breath sample is being delivered. Upon detection of positive breath alcohol result, the device will deliver a precise BAC level on the screen, and send a real-time alert via text message, e-mail and to a dedicated web portal. Furthermore, the system logs user BAC for incident reporting and historical investigations. The Breath Logix helps organizations save money by deploying an autonomous alcohol screening device which eliminates the need for dedicated alcohol screening administrators using conventional handheld devices.”
Molson Coors Beverage Company (NYSE: TAP) has reached an agreement on August 8th, 2023 to acquire Blue Run Spirits (“Blue Run”), a visionary and award-winning producer of finely crafted bourbon and rye whiskies. The deal represents another step in Molson Coors’ evolution as a total beverage company while providing Blue Run with resources to continue its growth. “Molson Coors has been on a journey to broaden beyond our beer roots and build powerful brands in growing categories, and Blue Run joining us is an exciting next step as we establish Coors Spirits Co.,” Molson Coors’ Chief Commercial Officer Michelle St. Jacques said. “Blue Run has accomplished in three years what many brands hope to do in a generation and has done it at the luxury end of the whiskey category. Importantly, we are committed to maintaining Blue Run’s well-known quality, design and innovation as we continue to grow our spirits portfolio.”
Anheuser-Busch InBev SA/NV (NYSE: BUD) reported last year that together with UFC®, the world’s premier mixed martial arts organization and part of TKO Group Holdings announced a new multiyear marketing partnership. Effective January 1, 2024, the brewer will become the exclusive "Official Beer Partner of UFC." With this sponsorship, in the U.S., Bud Light will bring easy enjoyment to 21+ fans with 360-degree programming, including custom social and digital content, broadcast integration, on-site presence, and more.
The Boston Beer Company, Inc. (NYSE: SAM) reported on October 26th, 2023, financial results for its third quarter that ended September 30, 2023. "On a comparable weeks basis, which adjusts for the timing impact of the July 4th holiday, our depletions trends improved from a decrease of 7% in the second quarter to a decrease of 3% in the third quarter. We continue to execute our operational plans and grew revenue, gross margin and operating cash flow in the quarter which enabled us to repurchase over $69 million in shares year-to-date," said Chairman and Founder Jim Koch. "Our highly cash-generative business and strong balance sheet allow us to invest in our brands as we work to return to long-term sustainable growth." "We are pleased with our performance in the third quarter as momentum on Twisted Tea remained strong and we continued to show progress on our margin enhancement plans while increasing brand investment. Based on our results year-to-date and our expectations for the fourth quarter, we are narrowing our revenue and EPS guidance ranges," said President and CEO Dave Burwick. "We plan to continue to invest behind the Twisted Tea and Truly brands while also nurturing innovation across Beyond Beer categories to drive long-term growth."
Diageo Plc (NYSE: DEO), maker of Smirnoff, Gordon’s, and Guinness, has launched on December 13th, 2023, a global report offering insight into consumer trends around the world. Combining in-depth quantitative analysis from the past two years with expert foresights into next year’s consumer behaviours, ‘Distilled: A Diageo Foresight Report’ provides essential reading to brands, regardless of region or industry, wanting to understand current consumer attitudes how to navigate their future. Giles Hedger, Global Consumer Planning Director at Diageo, commented: “Socialising is the wider behavioural ‘category’ that drives Total Beverage Alcohol consumption - it’s the fuel that powers the engine. At Diageo, our ambition is to understand socialising better than any company on Earth, and to do so we need to understand the forces that are shaping it. Our Foresight System allows us to detect and track long-term consumer shifts and approach our marketing and innovation with that mindset, and we’re thrilled to be sharing some of these insights.”
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