€2.3 million in seed funding has been secured by Positive Carbon, to control food waste management in the UK and Europe and also to tackle global waste.
Positive Carbon produces food waste sensors which help businesses monitor what food they are wasting by providing full visibility into food waste.
The innovation founded by Aisling and Mark Kirwan has led to significant waste reduction for the planet and cost savings.
It has already been put into action across multiple sites, and has resulted in positive outcomes including a 50% reduction in food waste, which amounts to over 4,000t of potential waste being diverted from landfills.
This funding comes soon after a statistic stating that one third of all food produced is wasted in our global food system.
By the middle of the 21st century, there will be an estimated global population of 10 billion.
In the UK and Europe, 40% of waste occurs at the final retail and consumer stages.
Chief executive officer (CEO) of Positive Carbon, Mark Kirwan, 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.”
Investment director at Business Venture Partners (BVP), Andrew McGreal emphasised that the work carried out by Positive Carbon “stands out for the rapid, tangible impact their solution has, both on customers’ margins as well as the environment”.
He added that food waste is a “global critical issue”, and that Positive Carbon is “helping to set new standards in terms of how commercial kitchens and corporates operate”.
“Imagine a world where food waste is eradicated. We’re building that world, one kitchen at a time,” Kirwan said.
