Solve For Food Lands Initial Investor, Sets Sights On Radically Shifting Food Processing Industry
BENTONVILLE, Ark., Sept. 6, 2017 /PRNewswire/ -- Food processing innovation startup, Solve For Food, announced today that IV Ventures, LLC has agreed to be the initial investor of the first Food Innovation Center.
Solve For Food's leadership team, comprised of consumer packaged goods industry veterans from Walmart, Sam's Club and Procter & Gamble, announced last spring it aimed to raise $13 million in capital to break ground on the startups' first Food Innovation Center. The center will provide established food companies and startups with concept-to-consumption food production and innovation services using the revolutionary MATS food preservation technology.
"We really believe in the Solve For Food mission and strategy to develop more nutritious packaged foods," said Brandon Ivie, president of IV Ventures, LLC. "Their approach will revolutionize the way the industry produces, and the market consumes, packaged foods, and we share their passion for game-changing technology. The value they will provide to the industry is core to our own mission."
The 20,000-square-foot center to be located in Northwest Arkansas will feature product innovation kitchens and a MATS-30 commercial scale food production system capable of producing up to 10 million packages per year. Consumer packaged goods brands and food startups alike will have access to Solve For Food's concept-to-consumption strategy services including the center's staff of culinary and food science experts, FDA process authorities, and branding and packaging strategists. This will help companies develop and produce healthy, nutritious, clean label, shelf stable packaged foods.
At the heart of its Food Innovation Center is industry-shifting processing technology, Microwave Assisted Thermal Sterilization (MATS), a technological breakthrough offered by food technology leader 915 Labs. MATS is a healthier alternative to conventional thermal sterilization which is a harsh process that strips the nutrients, flavor and texture from food creating a need for artificial additives and excess sodium to compensate. MATS reduces the time packaged food is exposed to high heat, which allows nutrients and flavors to remain intact and eliminates the need for additives and enhancers. MATS-made foods are not only clean label and shelf stable for up to one year, but can also be shipped at room temperature. MATS allows for improved efficiencies during processing, maximizing production scale and value.
"We really haven't seen much in the way of innovation in shelf stable food production and processing in 200 years," said Solve For Food President and Chief Executive Officer, Greg Spragg. "By pairing our concept-to-consumption strategy services with access to MATS technology, we're lowering the barrier to entry for the CPG industry to make the leap to a better product for consumers."
Industry-wide access to efficiency-enhancing technology and providing healthier food to consumers are top priorities for Solve For Food. They are interested in collaborating with regional and local economic development groups as well as other non-profit organizations. "Our goal is to provide an effective disruption to old industry processing channels, leave a smaller carbon footprint, and get more nutritious foods to the consumer—whether in the store, or to an urban or rural food desert," said Keith Larson, Chairman of Solve For Food.
Securing an initial investor has moved Solve For Food closer to its vision which includes an ecosystem of Food Innovation Centers across the country. They plan to break ground on the first Food Innovation Center in 2018. Before that date arrives, Solve For Food is focusing on technology and service offering awareness and has committed to a sponsorship with the reThink Food Conference in November 2017 supported by MIT Labs and the Culinary Institute of America.
About Solve For Food
We craft better food for everyone, everywhere. We're revolutionizing how the world eats by disrupting a production method that hasn't changed in 200 years. We've unlocked patented technology to produce food that's clean label, shelf stable and delicious. From concept to consumption, we combine manufacturing and go-to-market services under one roof— whether you're a foodpreneur or an established brand ready to make great food that benefits everyone.
More info: www.solveforfood.com
Contact:
Becky Singh
Matchfire
[email protected]
503-440-8254
SOURCE Solve For Food
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