London ( Parliament Politics Magazine ) Projections point towards a global population of 10 billion by the mid-21st century. Amidst this, the concerning fact that one-third of all produced food goes to waste highlights a significant inefficiency in our global food system. Notably, in the UK and the EU, a staggering 40% of this wastage occurs during the last stages of retail and consumer handling. Emphasizing the urgency of this matter is crucial; the time for decisive action has arrived.
Positive Carbon Announces Success of Seed Funding Round
In a bold step to address the crisis, Positive Carbon has proudly announced the success of a €2.3 million seed funding round, spearheaded by Business Venture Partners’ (BVP) EIIS Fund. The funding round also witnessed enthusiastic participation from Heartfelt_, Gateway Ventures, and Enterprise Ireland. Positive Carbon’s groundbreaking and patented food waste sensors mark a revolutionary advancement in handling food waste in commercial kitchens. These advanced sensors are intricately designed to methodically track, trace, and streamline the reduction of food waste.
Since its establishment in 2020, Positive Carbon’s technological innovation has been actively implemented across various sites, yielding remarkable results. The deployment of Positive Carbon’s system has resulted in an impressive 50% reduction in food waste. This translates to diverting over 4,000 tonnes of potential waste from landfills—an undeniable testament to the effectiveness 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 Talks About Positive Carbon
Andrew McGreal, Investment Director at BVP, added: “Positive Carbon stands out for the rapid, tangible impact their solution has both on customer’s 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 corporations and commercial kitchens operate”.
The influx of new capital will be strategically directed towards research and development, strengthening marketing initiatives, and expanding operations throughout the UK and EU. Mark Kirwan emphasized, “We’re not just talking about change; we’re driving it.”
Based in Dublin, this start-up offers commercial kitchens cutting-edge technology to intricately monitor food waste, providing essential data to address this pressing issue. The company is confident that its technology can contribute to a 50% reduction in food waste, simultaneously cutting costs and aligning with businesses’ sustainability objectives.
Businesses aiming to monitor waste can effortlessly adopt Positive Carbon’s system, incorporating scanners and cameras positioned above food waste bins. The system is currently operational in various locations, including Trinity College Dublin, Dublin City University, Sandymount Hotel, The Grand Hotel Malahide, and Airfield Estate in Dundrum. Notably, Positive Carbon has forged a partnership with KSG, the third-largest food service provider in Ireland, serving 120 locations across the country.
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Positive Carbon Receives Invaluable Support
The Green Enterprise Innovation for a Circular Economy program from the Environmental Protection Agency (EPA) played a crucial role in supporting this project. Positive Carbon has received consistent and invaluable support throughout its journey. Aisling noted the “fantastic support” from the EPA, Enterprise Ireland, and Social Entrepreneurs Ireland.
Enterprise Ireland has been a steadfast supporter, backing the company through its Competitive Start Fund and New Frontiers program. In 2021, Positive Carbon secured pre-seed funding in collaboration with German VC APX, marking a significant milestone as the latter made its inaugural investment in an Irish business.
Aisling brings a wealth of experience to Positive Carbon, having worked with FoodCloud for three years. She and her co-founder, Mark Kirwan, have collaborated on addressing the issue of food waste for many years. Mark, as CEO, spearheads product development and holds the patent for the technology, while Aisling, as COO, oversees operations.
Together, they boast a combined 20 years of experience in developing and implementing food waste technology, spanning the UK, Australia, Chile, and now Ireland. In addition to the food service industry, Positive Carbon has its sights set on partnerships with Ireland’s diverse array of multinational corporations. They said: “We can also benefit from working with some of the largest tech companies located in Dublin, who want to bring efficiency to their business while also helping reach their ambitious sustainability goals.