Hazel Technologies Expands Asia Pacific Office and Announces Recent Investment; Aidan Mouat and Chu Swee Yeok Share
CHICAGO, IL - Hazel Technologies is building upon its global footprint, announcing a significant expansion and a strategic investment this week. The company is strengthening its foothold in the Asia-Pacific (APAC) as Singapore-based global investor EDBI has announced a significant investment in the solutions provider.
“It is estimated that food waste is responsible for at least 8 percent of the world’s greenhouse gas emissions, which is an absolutely startling number,” said Aidan Mouat, Chief Executive Officer at Hazel Technologies. “APAC is home to the largest population and largest food system of any region in the world. By integrating our waste-reducing technologies into more global supply chains, we will continue to dramatically reduce those harmful impacts, and this APAC expansion is a critical step in that direction.”
Some of Hazel’s product lines are already fully commercial in APAC countries such as New Zealand, and its new planned presence in Singapore gives the company a foothold in one of the region’s most strategic supply locations. Hazel recently began hiring APAC-based employees full time to lay the foundation for successful R&D, manufacturing, marketing, sales, and distribution.
The news comes in addition to a Series C investment round that closed in 2021. The $70 million round was co-led by Pontifax Global Food and Agriculture Technology Fund, and Temasek, a global investment company headquartered in Singapore. This joint support will be key to APAC regional expansion, a press release noted.
“The fragmented, cross-border nature of fresh produce supply chains across Southeast Asia is a key contributor to food waste from spoilage, and Hazel Technologies’ innovative drop-in solutions for shelf-life extension are a game-changer for the industry,” Chu Swee Yeok, Chief Executive Officer and President of EDBI said. “EDBI’s partnership with the company will drive expansion of its suite of solutions to new, high-growth markets in Asia, while developing capabilities in Singapore and contributing to our 30-by-30 food security and zero waste goals.”
By the end of 2022, Hazel estimates its products will be used with over 5.7 billion pounds of fresh produce in the global supply chain, preventing more than 460 million pounds from going to waste.
Writer at AndNowUKnow since June, 2019