Sunday, August 9, 2020

Danone invests in French food waste start-up

A French start-up focussed on food waste reduction has secured investment from Danone to expand its solutions for both consumers and food and drink industry players.

In France alone, the United Nations estimates that ten million tonnes of food are wasted annually while eight million people are exposed to food insecurity.

Phenix is aiming to end food waste via a multi-pronged approach including donating to NGOs and food banks, discounted sales via its consumer facing app, engagement with farmers for animal feeding, and direct sales in its stores.

Having doubled its impact year-on-year, the start-up has now positioned itself as the leading placer in waster reduction and food donation in France.

“Our ambition is that in a few years, wasting food and products will not be acceptable and waste reduction practices will become the simple and effective norm,” said Jean Moreau, co-founder and President of Phenix.

“With Danone Manifesto Ventures’ support, we can invent tomorrow’s food system in an environmentally respectful and socially just manner.”

Laurent Marcel, CEO of Danone Manifesto Ventures, the corporate venture arm of the French multi-national, said: “Food waste reduction is one of the major challenges that companies, NGOs, governments and consumers need to address collectively to promote a more sustainable and ethical food system.

“Danone has made this challenge a priority for many years through local and global initiatives. We are happy to partner with the talented Phenix team, which keeps inventing innovative solutions to solve this important issue.”

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