With projections indicating a global population of 10 billion by the mid-21st century, the startling statistic that a third of all food produced is wasted stands out as a glaring inefficiency in our global food system. In the UK and the EU, a staggering 40% of this waste occurs at the final retail and consumer stages. The urgency of this issue cannot be overstated – the time for decisive action is upon us.
In an ambitious move to tackle this crisis, Positive Carbon announced a successful €2.3 million seed funding round led by Business Venture Partners’ (BVP) EIIS Fund. The round also saw the active participation of Heartfelt_, Gateway Ventures, and Enterprise Ireland. Positive Carbon’s innovative and patented food waste sensors represent a transformative leap in managing food waste within commercial kitchens. These sophisticated sensors are designed to meticulously track, trace, and facilitate the elimination of food waste.
Founded in 2020, Positive Carbon’s technological innovation has already been put into action across multiple sites, with remarkable outcomes. The deployment of Positive Carbon’s system has led to an impressive 50% reduction in food waste, amounting to over 4,000 tonnes of potential waste being diverted from landfills – a testament to the efficacy of Positive Carbon’s mission.
Mark Kirwan, the CEO of Positive Carbon, said: “Our technology is not just a tool for reducing food waste; it’s the driving force behind fostering a sustainable ecosystem that benefits businesses, the environment, and society at large. This pivotal funding marks an acceleration in our relentless pursuit to eradicate food waste.”
Andrew McGreal, Investment Director at BVP, added: “Positive Carbon stands out for the rapid, tangible impact their solution has both on customers margins as well as the environment. Food waste is a global critical issue, Positive Carbon isn’t just solving part of the problem, it is helping set new standards in terms of how corporates and commercial kitchens operate”.
The injection of new capital will be channelled into research and development, bolstering marketing efforts, and the scaling of operations across the UK and EU. “We’re not just talking about change; we’re driving it,” added Mark Kirwan
