ENTREVESTOR: ACOA Lends $925K to Beyond Food

See full Entrevestor article here

The federal government has lent Dartmouth-based Beyond Food Inc. $925,000 to develop a manufacturing plant and market its nutritional supplement made out of grocery store produce nearing its sell-by date.

The two-year-old company’s mission is to reduce food wastage, which now amounts to $49.5 billion a year in Canada alone, by finding supermarket produce that is about to be tossed out and using it to make a food supplement. It sells nutrition products under the brand TDF Sports, and the supplements are available nationwide.

The Atlantic Canada Opportunities Agency issued a statement Tuesday saying Beyond Food is establishing a new manufacturing facility in Dartmouth to scale up its plant-based nutritional supplement production capacity. This will allow the company to rent its Nutrient Upcycle pods, which are repurposed shipping containers fitted with clean processing technology, to local grocers.

The pods will enable grocers to dehydrate and transform thousands of dollars worth of late-stage fruits and vegetables into nutrient-dense powders. The powders will then be used as ingredients in value-added supplements manufactured and packaged at Beyond Food’s new facility in Dartmouth.

Entrevestor: Beyond Food Raises $1M Round

See the full Entrevestor article here Halifax-based Beyond Food Inc. has closed a $1 million funding round to help it launch its system that will convert aging supermarket produce into a powdered food supplement. The company issued a press release this week saying it raised the money from a range of investors, including several National Hockey League players. The company’s website shows that it plans now to develop its first Zero Waste Pod this month and to launch its first partnership with a national supermarket chain in April. The company was formed two years ago with a core of sports and health enthusiasts. Its mission is to reduce food wastage, which now amounts to $31 billion a year in Canada alone, by finding supermarket produce that is about to be tossed out and using it to make a nutritional food supplement. It sells nutrition products under the brand TDF Sports. “We are building a revolutionary technology and company,” said Co-Founder and CEO Darren Burke in a statement. “Our Zero Waste Pod is a first in this race to tackle the large challenges related to the excessive food waste occurring in North America and beyond.”  ]]>