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It's been eventful few weeks for Chicago-based Protein2O, a pioneer of the gulpable protein wave. It's secured investment from Bill Weiland, operator of Presence Marketing brokerage, that could further ignite interest in current fundraising round, even as Presence has come aboard for brand. At Expo West it unveiled dramatic new direction with debut of line called P2X that melds clear protein and electrolytes in highly drinkable form, with more intensified formula dubbed P2X Performance Fuel also heading down the road. And its CEO of past few months, Chris Pruneda, who was key architect of new lines, revealed that he's departed for COO job at Junkless Foods granola and protein snack play of Mike Repole, the serially successful entrepreneur who played key roles at Vitaminwater and Body Armor brands, meaning P2O is back in hunt for new leader. The product news first. At show, co debuted new iteration of core concept dubbed P2X Advanced Hydration that brings 20 g of ultrafiltered clear whey protein isolate along with range of energizing methylated B-vitamins and 720 mg of electrolytes but "no fake stuff" via artificial colors, sweeteners or flavors. With stevia helping to sweeten, the protein accounts for 90% of each half-liter bottle's 90 calories. Inaugural flavor range is Orange Mango, Strawberry Watermelon and Mixed Berry. It's breaking in about 1,000 Target stores on Apr 12 at price of $11.99 per 4-pk. A 28-oz single-serve pack should hit market in late summer or early fall. With artificial colors removed, P2X offers opportunity for brand to enter natural banners like Whole Foods and Sprouts, where Presence Marketing can help, said chief commercial officer Jill Short-Clark. She credited Pruneda with masterminding innovation, with cofounder Rob Kral bringing it home. Weiland also played key role.Coming behind P2X Advanced Hydration in late summer or fall will be P2X Performance Fuel. Tho it's still being tweaked, current formula offers 32 g whey protein isolate, along with bovine collagen protein, citrulline malate and 5 electrolytes totaling 770 mg. No fake stuff in here either. That will go out in Strawberry Dream, Key Lime Oasis and Tropical Paradise at premium to P2X Advanced Hydration.Core line remains ensconced at retail partners like Walmart, Winnco, Wegmans and HEB, with its ongoing role to be determined as progress of more premium P2X entries becomes clear. DSD distribution isn't slated to enter mix yet, tho it may play future role as channels like c-stores are explored.As for Weiland, a prolific investor who's carved out rep as astute trend watcher, he told us this morning he wrote $500K check and intends to help co close deal with other investors for current round of unspecified magnitude as P2O seeks to ride protein wave. Weiland, who was early to spot building backlash vs seed oils and has been enthusiastic advocate for solid animal fats like tallow that are enjoying recent vogue, the wave of clear-protein sodas don't match up well with consumers' regimens and he expects category to crest at scale well below $1 bil. "Soda is not where people are looking for higher-level nutrition," he believes. Ditto for salty snacks as delivery system for protein, given difficulty meeting snack category's hurdle of being craveably delicious. By contrast, he's found P2X to be congenial even in midst of a workout. Co has locked in good source of high-quality protein and Pruneda did excellent job of upgrading flavor of formula. Brand that's struggled to get to $20 mil topline "suddenly is positioned very well," he argued.P2O's departed CEO, Pruneda, is teaming up with Repole at time Junkless today moved further into high gear with announcement of partnership with Livvy Dunne. Junkless is controlled by Repole's family office Impact Capital. Chris had joined Protein2O only last Apr. So co is back in hunt for new leader.

EXPO WEST: Riding Investment from Presence Mktg's Weiland, Protein2O Heads in New Direction with P2X, Clean Entry Melding Clear Protein & Electrolytes; Back in Hunt for CEO as Pruneda Heads to Repole's Junkless Snack Brand

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