Newly launched Do Good Meals raises $169M to show meals waste into animal feed

Dive Transient:

  • Do Good Meals, a newly launched firm fashioned to show upcycled meals waste into feed for animals meant for human consumption, has began operations backed by $169 million from asset supervisor Nuveen.
  • The corporate has constructed a manufacturing facility in Fairless Hills, Pennsylvania, able to processing 160 tons of extra meals from about 450 grocery shops per day.
  • Do Good Meals expects to introduce its first product, Do Good Rooster, in supermarkets in addition to eating places and different foodservice places in america early subsequent yr.

Dive Perception:

Do Good Meals has developed a closed-loop system to transform produce and meats that can not be bought in grocery shops or utilized by meals banks into nutrient-dense animal feed. It plans later to increase past rooster, however didn’t say what its subsequent product can be. Every package deal of Do Good Rooster will maintain 1 pound of meals waste from being wasted, in response to an internet site the corporate set as much as promote the product.

The corporate plans to select up meals waste from grocery shops utilizing reusable coolers at no cost to grocers. It intends to construct manufacturing amenities just like its preliminary facility in Pennsylvania in the course of the subsequent 5 years, in response to a press launch.

Do Good Meals describes the poultry it plans to promote as carbon-reduced rooster and says its objective is to extend the sustainability of animal protein manufacturing by protecting meals waste from winding up in landfills.

Do Good Meals was fashioned by Hal, Matt and Justin Kamine, founders of Kamine Improvement Corp., which says it invests in applied sciences which have a social profit. The meals firm’s staff contains Sam Kass, who served as chef and vitamin coverage advisor to former President Barack Obama, who serves as chief technique officer for the corporate, the press launch notes. Former U.S. Secretary of Agriculture Ann Veneman can be concerned with the corporate, in response to the announcement.

Do Good Meals is launching its enterprise as grocery chains step up their concentrate on sustainability and search for methods to chop meals waste. Supermarkets throw away about 43 billion kilos of meals yearly accounting for 10% of all meals waste within the U.S., in response to the Upcycled Meals Affiliation. 

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