Our food system is a telling example of how interconnected our world really is. Despite geographic or economic differences, the world is fed by the same, outdated, inefficient, and maxed out infrastructure in which 1 in 9 people go hungry and roughly one-third of the food we produce never gets eaten. By 2050, the global population is expected to reach 10 billion, which will require 56% more food.
It's this "calorie gap" problem between the capacity of our current food production systems and the future demands of a growing population that we want to solve. To find answers to how we can feed the future, reduce food waste, and create a sustainable supply chain, we asked ourselves, "How would nature solve these problems?" Because we believe that after centuries of industrialization, urbanization, and globalization, it's time to partner with nature.
That’s why nature is the mother of our invention and why we aim to replicate and propagate its power. Apeel's technology adds a plant-derived "peel" to the outside of the produce that reduces waste by giving fresh produce 2-3x more shelf life. Extending the shelf life of produce gives time back to the supply chain so it can better handle the pressures of a growing global population.
What 2020 has underscored is the need for our food system to work smarter rather than harder to alleviate a system under strain. By using food to protect food, we can give the entire food industry more time, so we can develop a more flexible, resilient "food ecosystem" that can feed the future.
To help put more time on the side of our food, we're pleased to announce a $250MM capital raise from GIC, Oprah Winfrey and Katy Perry. Like us, they are incredibly passionate about creating sustainable solutions by investing in the future of the food system.
This new capital puts Apeel in a position to build resiliency in our food supply system and create a global coalition of producers and suppliers to bring longer-lasting produce to food retailers and foodservice.
Together we have the opportunity to see how our collective actions can create sustainable solutions that builds an abundant future for all.