Leiden, the Netherlands-based Liquidseal, a company that has created a coating that keeps fruits and vegetables fresh for substantially longer, announced on Friday that it has secured a loan of €1.75M through yield (maximum) from a 5-year bond via the NPEX stock exchange.
The company says it intends to use the proceeds to ‘make an international growth leap’ and help fight food wastage.
According to Liquidseal, the revenues from the bond loan will be used to boost the company’s short-term commercial strength. Separate country managers will be appointed in the four growth markets of India, Brazil, Mexico, and the US.
Additionally, the money is also being used to finance stock purchases, buy additional lab equipment, and staff the lab with more people.
The company’s management will also utilise the loan funds to pay for the planned expansion on a global scale. According to the team, the last few years have been dedicated to the growth of Liquidseal as well as the international filing of patents and registrations in various nations.
Liquidseal: Everything you need to know
It is estimated that between 30 and 50 per cent of all fruits and vegetables are wasted before being consumed. Fruit and vegetable disposal also contributes considerably to global water waste.
Liquidseal claims that its coatings can help maximise the use of raw resources like water and fertile soil since Liquidseal avoids food waste throughout the supply chain (from field-to-fork) and decreases product waste by up to 30 to 40 per cent. The usage of Liquidseal also minimises the requirement for pesticides in addition to the use of plastic.
Founded in 2006 by Eugène van den Berg and Victor Monster, Liquidseal developed a very thin, protective covering made primarily of vegetable components in order to allow vegetables, fruit, and flower species to continue to ‘breathe’ and maintain their freshness for a longer period of time. By extending its lifespan, the treatment for agricultural goods is a crucial invention to tackle the present large food waste problem.
Liquidseal director, Victor Monster, says, “A third of the total food production does not reach the consumer. The use of Liquidseal means that there is more time for transport after the harvest and that vegetables and fruit stay fresh longer in the supermarkets. In addition, the use of pesticides and plastic is reduced.”
In Europe, the use of the coating is currently allowed for fruit with hard skin such as avocado, citrus, mango, melon, and papaya. In the US, other types of fruit and vegetables may also be treated with the Liquidseal.