By Food Recycle Ltd, an innovative Australian company, is seeking $3 million to commercialize its groundbreaking technology that transforms commercial food waste into animal feed. This initiative aims to reduce landfill waste, lower greenhouse gas emissions, and contribute to a circular economy. Following successful trials with various animals, Food Recycle is now looking to scale up its operations in Australia and New Zealand. The funds will be raised through a crowd-funding campaign on the Swarmer platform, allowing individual investments starting from $100.
Transforming Food Waste into Animal Feed
Food Recycle Ltd has developed a patented process that efficiently converts food waste from restaurants, abattoirs, farms, and processors into high-quality animal feed. Each food waste stream is processed individually, analyzed, and stored separately as ingredients. The nutritional and amino acid profiles of these ingredients are measured and then mixed to create complete feeds. This innovative approach ensures that two tonnes of food waste can be converted into one tonne of feed suitable for poultry, pigs, and aquaculture.
The technology not only prevents the generation of methane, a potent greenhouse gas, but also eliminates every known biosecurity risk at no additional cost. This makes the process both environmentally friendly and economically viable. The trials conducted by CSIRO, Western Sydney University, and the University of New England have demonstrated the effectiveness of this technology, showing that it produces larger, healthier animals and contributes to food security.
Food Recycle’s approach goes beyond traditional methods that only deliver partial benefits. By using food waste to produce food, the company is taking a significant step towards a sustainable future. This innovative solution addresses the global issue of food waste, which accounts for 30% of all human food produced, according to the Australian Government’s Department of Climate Change, Energy, the Environment, and Water.
The Crowd-Funding Campaign
To commercialize this technology, Food Recycle is launching a crowd-funding campaign on the Swarmer platform. The campaign will enter a three-week Expressions of Interest (EOI) phase on August 8, followed by a three-week investment phase. Investors can participate with a minimum investment of $100, receiving shares in the company. The funds raised will be used for facility mechanical engineering, electrical engineering, and systems design, enabling the construction of the first commercial-scale production facility.
The campaign also aims to appoint a technology and know-how licensee for Australia and New Zealand. This licensee will be responsible for constructing multiple production facilities, with Food Recycle receiving royalty payments on the sale of feed. The licensee is expected to build a minimum of 25 production facilities over a 10-year period, with 12 of these facilities anticipated in the first five years. This strategic expansion will help scale up the technology and make a significant impact on reducing food waste in the region.
Norm Boyle, CEO of Food Recycle, emphasizes the importance of this capital raise in making a positive environmental difference. The crowd-funding campaign provides an opportunity for individuals to invest in a technology that delivers on sustainability, circular economy, and food security outcomes. By supporting this initiative, investors can contribute to a solution that addresses one of the most pressing environmental challenges of our time.
Future Prospects and Impact
The successful commercialization of Food Recycle’s technology has the potential to revolutionize the way food waste is managed. By converting food waste into valuable animal feed, the company is creating a sustainable solution that benefits both the environment and the economy. The reduction in landfill waste and greenhouse gas emissions aligns with global efforts to combat climate change and promote sustainability.
The expansion of production facilities in Australia and New Zealand will create new job opportunities and stimulate economic growth. The technology’s ability to produce high-quality animal feed from food waste also supports the agricultural sector, providing farmers with a cost-effective and sustainable feed option. This holistic approach to food waste management exemplifies the principles of a circular economy, where waste is minimized, and resources are reused efficiently.
Looking ahead, Food Recycle aims to continue innovating and expanding its technology to other regions. The company’s commitment to sustainability and food security positions it as a leader in the field of food waste management. By addressing the global issue of food waste, Food Recycle is paving the way for a more sustainable and resilient future.