Shelf-life technology company It’s Fresh! has won over £7.6 million in investment from US produce freshness company AgroFresh Solutions.
This investment, worth $10m, will enable the business to accelerate global expansion and the development of planned new products, a statement said.
It’s Fresh!’s flagship product is a filter that absorbs ethylene from punnets of fruit and has been taken up by major retailers in the UK, the US and Europe.
Chief executive Peter Shalson said: “This alignment with AgroFresh will allow access to its 3,000 customers as well as its highly-respected R&D centres worldwide, assisting quicker development of new products and enabling our technology to reduce food waste in many more countries around the world.
“Under this agreement, we will work cooperatively to grow our existing retail and grower products and to develop new solutions for markets and crops not presently served.”
AgroFresh chief executive Jordi Ferre said: “We’re excited to tap into the innovative thinking and expertise in food freshness technology that It’s Fresh! offers and I expect big things of this new collaboration.”