PHILADELPHIA, June 6, 2019 /PRNewswire/ -- AgroFresh Solutions, Inc. (Nasdaq: AGFS), a global leader in produce freshness solutions, and Zest Labs™, Inc. (OTCQX: ZEST), an AgTech company modernizing the post-harvest fresh food supply chain, announced today a strategic collaboration between AgroFresh and Zest Labs to strengthen their end-to-end solutions. AgroFresh will incorporate Zest Labs' Zest Fresh™ solution into its FreshCloud™ Transit Insights platform. The agreement will utilize both companies' resources and strengths to provide customers with a comprehensive solution that improves operations, increases visibility into produce shelf life and reduces food waste.
AgroFresh's FreshCloud platform is a data-backed, insights-driven solution for monitoring produce quality through the supply chain. The FreshCloud platform is able to predict produce freshness, quality and optimal consumption timing.
Zest Fresh is the post-harvest freshness management solution for today's produce industry. By intelligently managing the handling and quality of each pallet of produce beginning in the field, Zest Fresh enables seamless matching of the industry's freshness needs with the actual produce freshness while monitoring adherence to the grower's processes.
"As we continue to prioritize data and technology to enhance produce freshness and minimize food waste, this strategic collaboration will strengthen our existing portfolio, particularly our data-centric FreshCloud™ platform," said Jordi Ferre, CEO of AgroFresh. "Zest Fresh is a natural fit with our FreshCloud Transit Insights solution and will accelerate the adoption of our technology to additional markets."
"AgroFresh's offering of Zest Fresh is significant as they are a trusted global expert in post-harvest science with over 3,500 customers worldwide and can quickly expand Zest Fresh into new markets and with new types of fresh produce," said Peter Mehring, CEO of Zest Labs. "Our collective science-based, data-driven solutions and shared market vision for ensuring delivered freshness and reducing food waste provide a foundation for a successful partnership."
With decades of experience and expertise in the science of produce freshness, AgroFresh helps its customers preserve freshness, extend peak ripeness, maximize yield and ultimately, prevent food waste. Zest Fresh, provides analytics and freshness management expertise that will complement the AgroFresh FreshCloud platform by strengthening the end-to-end visibility of key freshness metrics through distribution.
Through this collaboration, AgroFresh will apply its industry expertise to offer the Zest Fresh pallet-level freshness management platform for fresh produce as part of its FreshCloud Transit Insights solution. Zest Fresh, with its real-time data and predictive analytics capabilities provides growers, distributors and retailers with autonomous, field-to-shelf product visibility that reduces waste and retail shrink up to 50 percent or more. As a result of this collaboration, the expertise and insight embedded in AgroFresh's FreshCloud solution will benefit more customers across more crops.
AgroFresh (Nasdaq: AGFS) is a leading global innovator and provider of science-based solutions, data-driven technologies and experience-backed services to enhance the quality and extend the shelf life of fresh produce. For more than 20 years, AgroFresh has been revolutionizing the apple industry and has launched new innovative solutions in a variety of fresh produce categories from bananas to cherries and citrus to pears. AgroFresh supports growers, packers and retailers in ensuring post-harvest solutions across the industry enhance crop values while conserving our planet's resources and reducing global food waste. Visit agrofresh.com to learn more.
About Zest Labs
Zest Labs, a subsidiary of Ecoark Holdings, Inc., to be renamed Zest Technologies™ (OTCQX: ZEST) is an AgTech company modernizing the post-harvest fresh food supply chain to improve food safety and reduce food waste. Our flagship solution, Zest Fresh, provides autonomous, field-to-shelf visibility for proactive decision making to improve delivered freshness and reduce shrink by 50% or more. Integrated blockchain technology provides true transparency for food safety, product freshness and traceability. Zest Fresh improves profitability and increases customer satisfaction and brand loyalty while promoting sustainability.
Forward Looking Statements
In addition to historical information, this release may contain "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, included in this release that address activities, events or developments that are expected or anticipated to occur in the future are forward-looking statements and are identified with, but not limited to, words such as "anticipate", "believe", "expect", "estimate", "plan", "outlook", and "project" and other similar expressions (or the negative versions of such words or expressions). Forward-looking statements include, without limitation, information concerning possible or assumed future results of operations, including all statements regarding financial guidance, anticipated future growth, business strategies, competitive position, industry environment, potential growth opportunities and the effectiveness of the technology discussed in this release and the effects of regulation. These statements are based on management's current expectations and beliefs, as well as a number of assumptions concerning future events. Such forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside management's control that could cause actual results to differ materially from the results discussed in the forward-looking statements. These risks include, without limitation, the risk of increased competition; the potential inability to grow and manage growth profitably, including that the collaboration between AgroFresh and Zest may not yield the results expected, the technology described herein may not perform as intended, risks associated with acquisitions and investments, changes in applicable laws or regulations, and the possibility of adverse economic, business, and/or competitive factors. Additional risks and uncertainties are identified and discussed in each company's filings with the SEC, which are available at the SEC's website at www.sec.gov.
FRESHCLOUD™ is a trademark of AgroFresh Inc.
ZEST FRESH™ and Zest Labs™ are trademarks of Zest Labs, Inc.