Reducing food waste with IoT

Guest Contributor Peter Mehring, CEO Zest Labs, 31 May 2018

With all the technological advances we’ve made, from self-driving cars to IoT-enabled personal assistants, it’s hard to understand why we still waste nearly 40% of the fresh food produced in the United States. Certainly, some of it can be chalked up to consumer carelessness — we routinely buy things, including food, that we end up throwing away. However, a close study of the numbers reveals that roughly half of food waste occurs at the consumer level, meaning the other half happens somewhere within the fresh food supply chain, between the grower or processor and the retailer. With all the technology available to us today, how can our food supply chain still be this inefficient?

The short answer is that technology, particularly IoT, has historically been underutilized in post-harvest agriculture. Yes, there are drones and irrigation monitors in preharvest agriculture, but when it comes to post-harvest agriculture, once product is picked or harvested, advanced technology hasn’t been broadly applied — yet.

In the world of post-harvest ag-tech, IoT sensor technology coupled with cloud-based analytics have the power to transform the fresh food supply chain by improving decision-making at every step and, as a result, dramatically reduce food waste. IoT sensors can transform a supply chain that still operates based on assumptions into one that operates based on the real-time, granular data that provides visibility as to how to truly optimize decision-making. By adopting a data-driven approach enabled by IoT and cloud analytics, growers, processors, distributors and retailers can address the hidden issues currently impacting the fresh food supply chain to reduce waste — and improve food safety and supply chain transparency as well.

Before examining how utilizing IoT can improve supply chain operations, it’s important to understand why it hasn’t done so already. Fresh food has traditionally not been very margin sensitive, so losses due to spoilage have been absorbed as a cost of doing business. Retail grocers and restaurants carried buffer stock to account for culling, and charged a premium for out-of-season products. With little financial motivation to improve supply chain efficiencies, retailers and restaurants invested in other strategies. However, in the last year, discounting has started to impact fresh food prices, as well as cost increases due to freight charges and overhead cost of supporting recent consumer delivery options (e.g., online shopping, click and collect, home delivery). With both price pressure and delivered costs increasing, there is now real interest to explore how technology can reduce fresh food waste and improve margins.

Over the past few decades, the time and distance our fresh food travels has increased from a few days to a more typical six to 10 days. This was a result of large retail grocers and restaurant chains wanting to buy from large suppliers who drove growing efficiencies by consolidating farms in preferred growing regions. While there has been a trend back to locally grown fresh food, it has not been significant in terms of volume. So, where strawberries were once locally grown, the variation in delivered shelf life from seven to 11 days was not a big deal. However, now that the bulk of strawberries are grown in California (summer time), they can travel six to eight days just to arrive on the store shelf — leaving little room for variations in shelf life. New processing techniques have improved the ideal strawberry shelf life to roughly 12 days, but in typical operations, the actual variation of delivered product is from seven to 12 days, as not all product is processed according to best practices. This variation leads to food waste due to unexpected early spoilage. The supply chain assumed all the product had the same consistent shelf life, and reflected that misperception with date labels. However, inconsistent processing leads to considerable variability that remains unaccounted for today.

This is where IoT can save the day. None of the issues impacting remaining freshness become actual issues if supply chain professionals know about them as they are happening. Remaining freshness is a function of product handling from field to shelf. An IoT sensor placed in each pallet of produce that monitors a wide range of variables, combined with cloud-based predictive analytics, can provide an up-to-the-minute snapshot of the product’s handling and accurately forecast its remaining freshness. If the IoT sensor detects a pallet has a temperature excursion, an alert can be sent in real time to proactively take action to minimize the impact on the freshness and quality. Further, if the data from the IoT sensor is analyzed to identify that a pallet has only eight days of shelf life instead of the desired 12, the supplier can modify the shipping decision to have the pallet routed locally instead of cross-country. This allows supply chain professionals to proactively manage based on real product data, rather than the current simplifying assumptions based on harvest date (assumes uniform processing) or visual inspection. Current visual freshness checks have been ineffective in reducing waste as visual freshness indicators only change in the very last days of remaining freshness, which is often too late to prevent waste. IoT sensors and cloud analytics provide product-level feedback to make improved decisions that avoid food waste.

There will always be bumps in the road, and expecting the supply chain to operate perfectly 100% of the time is not realistic. But now we can do away with poor assumptions in favor of actual product data collected in real time by IoT condition sensors. This data drives improved decision-making, providing growers, distributors and retailers alike with a better view into the freshness and quality of the food that is being harvested, shipped and displayed on store shelves.

By making use of the power of IoT and cloud analytics, growers, processors, distributors and retailers no longer have to accept the losses associated with food waste as the cost of doing business. By proactively managing their products through the supply chain, growers can improve profitability on the food they work so hard to produce, retailers can deliver a top-quality product to their customers, and consumers gain confidence in their purchases.

You can’t address an issue if you don’t know about it or only react to it after it has happened. IoT and cloud analytics can make the food supply chain proactive and enable growers, distributors and retailers to actively manage issues as they happen, preventing losses.

All IoT Agenda network contributors are responsible for the content and accuracy of their posts. Opinions are of the writers and do not necessarily convey the thoughts of IoT Agenda.

IoT Gains a Foothold in Food Supply Chains

From farm to fork, the Internet of Things has quickly integrated into every link of the food supply chain.

By: MARY SHACKLETT MARCH 19, 2018

When Internet of Things (IoT) sensors, barcodes, scanners, automation and analytics first began making their way into industry, the vision for the food supply chain was that IoT technology would integrate into virtually every aspect of food operations from farm to fork.

Now it is happening.

On the Farm
To avoid waste in the field, agricultural producers have been focusing on ways to improve crop yields. Part of this effort is being devoted to a relatively new practice: precision agriculture (PA).

Precision agriculture is a farming method that takes into account the variability of soils, pests and crop yields depending on which portion of a field you are working. Because fields vary in terms of soil types, moisture content, contour and crop yield, how you plant corn over an entire area will also have to vary depending on your location in the field.

“To improve yields, producers use grid soil sampling to assist them in dealing with soil variability,” explains Carl Crozier, professor of crop and soil science and extension specialist at North Carolina State University (NCSU). “They take various soil samples from different areas of a field, mark these samples to the locations they were taken from, and then send the samples into the lab for fertilizer and lime recommendations. Once these are available, a map of the field showing their spatial variability must be created to guide precision management.”

The next step is to translate these results into ways that a producer can variably spread different proportions of fertilizers on different areas of a field based on the variability of soil, moisture, topography and so on. To do this efficiently, spreaders and other types of farm equipment now come with software and IoT sensors that can link into the geospatial coordinations of the different locations in the field and adjust the fertilizer mix to fit the individual prescriptions for these locations.

“In the future, we will expand the use of mounted cameras and view fields from above with UAVs (unmanned aerial vehicle),” adds NCSU associate professor of crop and soil sciences Jeff White. “This will aid farmers in detecting anomalies in the fields, such as variances in moisture or color—like when they see a yellow spot in an otherwise green field. Spectral analysis of blue, green, red and near infrared bands can be employed for the detection of nitrogen content and fertilizer need. This will help farmers achieve more granular levels of precision agriculture, so they can begin asking themselves whether they should add more nitrogen to certain areas of their fields.”

Food on the Move
Once the food leaves the farm, it enters into a stream of logistics, which can include warehousing, distribution and delivery to retailers.

“There is much to do in this area, because we’re still seeing 30 percent to 40 percent food waste levels post harvest, and half of this waste is occurring before food even gets to consumers,” says Peter Mehring, CEO of Zest Labs, an AgTech company introducing IoT technology into the post-harvest fresh food supply chain to improve food safety and reduce food waste. Mehring believes that food wholesalers and retailers can improve their profit margins and reduce food waste by 50 percent or more by using more IoT sensors and real-time analytics for food tracking and monitoring.

“Often, companies will attach sensors for tracking and monitoring to pallets, but not to the products themselves,” says Mehring. “What we really want to know is what the temperature and humidity conditions are with respect to the products, not to the ambient conditions of the environment a pallet is in.”

Karl Deily, president of food care at Sealed Air, which provides packaging solutions for foods and other industries, explains how more product-specific monitoring for spoilage prevention in food processing plants can be put into product packaging.

“A load of strawberries might come into a processing plant on the same date from the same field. You would assume that these strawberries would all carry the same expiration date, but there is a big freshness difference between strawberries that are picked in the cool of the early morning and those that are picked later in the day,” explains Deily.

Strawberries picked during cool early morning hours are likely to respirate less than the strawberries picked in the afternoon. “The less the strawberries respirate, the longer they will be fresh,” he adds.

In the processing plant, IoT sensors can monitor fruit respiration rates and freshness so that packaging with more respiratory perforations is prepared for the fruit that is respirating at a higher rate, while fresher fruit that is respirating at a lower rate is wrapped with packaging that contains fewer respiratory perforations.

“This is a way that we can adjust packaging to the conditions of particular products to preserve freshness and reduce spoilage,” says Deily.

From Farm to Fork
Once food arrives at distribution points, it is transported to retailers via truck, rail or plane. IoT plays two major roles in this process:

First, it geographically tracks progress of goods to market, while feeding analytics systems that help determine the safest and speediest routes to market.
Additionnally, it continuously measures the environmentals of the interiors of refrigerated trailers and the interiors of packages and containers that meats and produce are stored. If the seal of a container is broken, or temperature and humidity controls within the container fail, the sensors issue immediate alerts to supply chain managers so the situation can be mitigated. Together, these food track, trace and control mechanisms reduce spoilage and maintain the track and trace of foods from farm to table.

“You want to be able to collect sensor data at the level of the product,” says Mehring. “If a pallet of fruit is not pre-cooled and it is placed into a 34-degree trailer, all of that fruit will be respirating at a higher rate and generating heat, which creates a situation where the fruit will spoil sooner. But if the sensors are actually attached inside the cases with the product, the true temperatures that the products are maintained at can be measured, and you have a much more accurate picture of the state that your cargo is in and how much time you have to get it to market.”

Mehring says that Zest has developed a “ZIPR” (Zest Intelligent Pallet Routing) Code that dynamically calculates the freshness of each pallet tracked. “We use a patented methodology and sensors for this purpose, and the goal is to ensure that the inventory and shipping decisions that supply chain managers make are based on actual food freshness for each and every pallet.”

The ZIPR Code can tell a California producer in an eyeshot whether a product is fresh enough to be shipped across country to Boston, or whether freshness is already reduced and the manager needs to seek out a local market. By working with these predictive analytics, the producer can ship product expediently and effectively—and reduce food waste.

“Food waste is an important part of the food supply chain discussion—not only for producers, transporters and distributors, but for the retailers and consumers themselves,” adds Mehring. “Many of the retailers we work with, for example, expect a 30 percent waste level with lettuce of all different types. They see a harvest date on the lettuce and expect a 10-day shelf life based on this date, but only one third of the lettuce they source makes this date. Most of these retailers tell us that they get an average of 6.5 days shelf life for lettuce, regardless of what the expiration date says. This is where understanding the true ZIPR Code (or remaining freshness of products at harvest) and determining the best destinations to avoid spoilage can make an impact.”

The food freshness journey doesn’t stop at the retailer, however. Today’s smart refrigerators also aid consumers in managing their food freshness and avoiding spoilage. These smart refrigerators can now read everything from a single label on a product, including where the product came from, what ingredients it contains, and what its current freshness is. The refrigerated appliance can even recommend to consumers which foods to eat first in order to avoid waste.

How important is this to today’s consumers?

In a 2016 Trace One survey, 68 percent of consumer respondents said they wanted to know more about what was in their food and where it came from. Food tags and IoT readers and sensors in smart refrigerators help them obtain that information.

Product Recalls
Finally, IoT technology can be a major deterrent to food recalls.

A food recall, whether due to spoilage, contamination or other factors, can have a multi-year or even a permanent effect on a company’s brand and reputation. More importantly, it is a threat to public health.

“Today, when food safety risks could be reduced via end-to-end supply chain visibility, product quality checks must go beyond simply obtaining a certificate of quality analysis at the point of loading,” says Stefan Reidy, CEO of Arviem Switzerland, which provides real-time cargo monitoring and tracking solutions. “When food spoilage and contamination are some of the biggest concerns in food supply chains, visibility should not end with suppliers of raw materials or intermediate goods. Food manufacturers must be able to monitor what’s happening to their shipment while in transit to see whether the goods were transported and stored under proper temperature conditions.”

Unfortunately, not all food manufacturers have adopted IoT to help with this problem, and many small producers and manufacturers lack funds to pursue IoT aggressively. This helped contribute to more than 20 million pounds of food being recalled in the United States in 2017, according to USDA statistics.

Industry executives like Reidy maintain that monitoring goods with IoT sensors during transportation “enables food manufacturers to verify the quality of ingredients before they are incorporated into a product. Moreover, during the times of recalls, traceability of products accelerates the investigation process, enabling professionals to identify the reasons for spoilage or contamination.”

A combination of barcoding and smart labeling technologies; IoT sensors for environmental and food safety factors during transport, yarding and warehousing; and use of cloud-based technology to store and process the results from continuous track and trace of foods can reduce the risk of food spoilage and contamination, improve consumer health, and protect companies from brand and reputation damage—not to mention lawsuits.

Next Steps
“One of the best ways to expand your use of IoT is to become aware of what others in your situation are or have done with it successfully. If you don’t have the expertise, you can also benefit by looking for a vendor that has the right technology and the expertise, and that can be a good business partner,” says Seal Air’s Deily.

Second, when you find an IoT solution that you feel can assist you with food freshness and supply chain issues, trial it first. “The good news about much of this technology is that you can start with a relatively modest investment, and see if it proves out your business case,” explains Mehring.

Third, talk with your suppliers. The end goal of the food supply chain is to give everyone vested in it total visibility of the food it tracks and traces. If you’ve got IoT at your processing plant and in your logistics operations, but you don’t have it at some of your smaller farmer-producers, the links of the supply chain are broken and you don’t have uninterrupted visibility. This is an area where you might be able assist your suppliers with IoT implementation, or possibly even with financing.

Fourth, if you are a retailer, don’t assume that you have to accept food waste at previous levels. “We get called in when a retailer has an acute problem. They already expect to lose points on their margin from food waste,” says Mehring. “But with the growth of IoT and other technologies in the food supply chain, there’s every reason to aim for better results.”

Mary Shacklett is the president of Transworld Data, a technology analytics, market research and consulting firm. Prior to founding the company, she was vice president of product research and software development at Summit Information Systems. She may be reached at mshacklett@twdtransworld.com.

REMINDER: Ecoark To Host Business Update Call

Business Update Call to be held today, November 15, 2017, at 4:30 p.m. ET

Rogers, AR – November 15, 2017 – Ecoark Holdings, Inc. (“Ecoark”) (OTCQX: EARK), to be renamed Zest Technologies, an AgTech company, will host a business update call today, Wednesday, November 15, 2017, at 4:30 p.m. ET. A webcast of the conference call will be available live on the Investor Relations section of Ecoark’s website at www.ecoarkusa.com.

Interested parties unable to access the conference call via the webcast may dial +1-877-407-9039. A replay of the conference call will be available on the company website for 30 days following the event, and can be accessed at +1-844-512-2921 using replay pin number 13672036.

About Ecoark Holdings, Inc. and Zest Labs

Ecoark is an AgTech company modernizing the post-harvest fresh food supply chain for a wide range of organizations including growers, distributors and retailers. The company’s Zest Fresh™ solution, a breakthrough approach to quality management of post-harvest fresh food, is specifically designed to help substantially reduce the $161 billion amount of food loss the U.S. experiences each year. Through item-level monitoring and real-time predictive analytics, Zest Fresh enables customers to improve the freshness and quality of produce, realize substantial cost savings and reduce food waste. To learn more about Zest Fresh click here.

Forward Looking Statements

This release contains forward-looking statements, including, without limitation, statements concerning business and possible or assumed future results of operations of Ecoark Holdings, Inc. and its subsidiaries; and statements concerning the ability of Zest Labs’ technology to improve delivered quality consistency, significantly reduce perishable food waste, drive sustainability, and increase efficiency in the industry. Our actual results could differ materially from those anticipated in the forward-looking statements for many reasons including: access to growth capital on favorable terms; adverse economic changes affecting markets we serve; competition in our markets and industry segments; our timing and the profitability of entering new markets; greater than expected costs, customer acceptance of our products or difficulties related to our integration of the businesses we may acquire; and other risks and uncertainties as may be detailed from time to time in our public announcements and SEC filings. Although we believe the expectations reflected in the forward-looking statements are reasonable, they relate only to events as of the date on which the statements are made, and our future results, levels of activity, performance or achievements may not meet these expectations. We do not intend to update any of the forward-looking statements after the date of this document to conform these statements to actual results or to changes in our expectations, except as required by law.

Contact

Investor Relations:

John Mills

ICR

646-277-1254

John.Mills@icrinc.com

 

Public Relations:

Keith Watson

fama PR

617-986-5001

ecoark@famapr.com

Ecoark Provides Second Quarter Fiscal 2018 Update on Recent Business Progress

Zest Labs Completes Development Phase and Recognizes First SaaS Revenue Related to Leading Global Retailer  

Company to Hold Business Update Conference Call on November 15, 2017 at 4:30 p.m. ET

Rogers, AR – November 8, 2017 –Ecoark Holdings, Inc. (“Ecoark”) (OTCQX: EARK), to be renamed Zest Technologies, an AgTech company, is providing an update on recent business developments. In addition, the Company is filing its Form 10-Q for the fiscal second quarter ended September 30, 2017, with the Securities and Exchange Commission today. The Company previously announced that the Board unanimously determined the most prudent strategy to enhance long-term shareholder value is focusing on Zest Labs, and for Ecoark to rebrand all aspects of its company to Zest – including renaming the Company “Zest Technologies,” and changing its stock ticker symbol from EARK to ZEST – in the coming months.

“I’m very excited that we have moved from the development phase of Zest Fresh into deployment and initial revenue generation on a per pallet basis from suppliers working with one of the largest global retailers,” said Randy May, Founder, Chairman and Chief Executive Officer of Ecoark. “This milestone proves the tangible value of Zest Fresh and reaffirms our belief that we are enacting the right strategy of repositioning and rebranding the company from Ecoark to Zest Technologies. In our third fiscal quarter of 2018, we expect to announce new customers and achieve a meaningful increase in revenue as we modernize the post-harvest fresh food supply chain for a wide range of organizations including growers, distributors, restaurants and retailers.”

May continued, “We have invested over $25 million in our Zest Labs solution and many years of research and testing with some of the largest retailers and growers throughout North America to ensure we have a leading AgTech solution. We are now officially deploying a solution that will enable retailers to significantly reduce fresh food spoilage by providing a growing suite of proprietary solutions and technologies that drive efficiency and sustainability through improved quality consistency.”

Business Highlights

  • Ecoark is actively transitioning from a diversified holding company into a company focused solely on its Zest Labs Ecoark is exploring divesting all non-core holdings, including Pioneer Products, Magnolia Solar and Sable Polymer Solutions, and will appropriate all proceeds toward working capital for Zest Labs.
  • Ecoark announced that former IBM executive Michael Green joined the Company’s Board of Directors. Green joins the Company’s Board after an impressive career with IBM, where he was most recently vice president for Strategic Services North America.
  • Zest Labs announced integrated blockchain support at no additional cost or labor for growers and shippers using the Zest Fresh platform. The addition of blockchain support creates an added layer of security and trust throughout the fresh food supply chain by creating true transparency about key food freshness and safety factors to all participants within the network.
  • Zest Labs launched its Produce Advisory Board, which enables the Company to further align products and services with industry needs. The advisory board reflects the produce grower community’s perspective and insight, which are invaluable to Zest Labs, helping it better prioritize and coordinate Zest Fresh products, roadmaps and directions.
  • Randy May has rejoined the Company full-time as its CEO and will continue to serve as Chairman of the Company’s Board. Jay Puchir transitioned from CEO to CFO and Peter Mehring was named President of Ecoark, while still keeping his role as CEO of Zest Labs.

“We have gained significant momentum through active deployments this summer, validating our value to growers and retailers,” stated Peter Mehring, CEO of Zest Labs. “The addition of Michael Green to our board is both a reflection of and enhancement to that momentum. We look forward to Michael’s guidance and advice as we grow through new opportunities and technologies, such as blockchain.”

Financial Highlights for Second Quarter of Fiscal 2018:

The Company generated $1.9 million of revenue through Pioneer Products, Sable Polymer Solutions and Zest Labs.

As of September 30, 2017, the Company had $8.3 million in cash.

Conference Call

The conference call to discuss these results is scheduled for Wednesday, November 15, 2017, at 4:30 p.m. ET. A webcast of the conference call will be available live on the Investor Relations section of Ecoark’s website at www.ecoarkusa.com. Interested parties unable to access the conference call via the webcast may dial +1-877-407-9039. A replay of the conference call will be available on Ecoark’s website for 30 days following the event, and can be accessed at +1-844-512-2921 using replay pin number 13672036.

About Ecoark Holdings, Inc. and Zest Labs

Ecoark is an AgTech company modernizing the post-harvest fresh food supply chain for a wide range of organizations including growers, distributors and retailers. The company’s Zest Fresh™ solution, a breakthrough approach to quality management of post-harvest fresh food, is specifically designed to help substantially reduce the $161 billion amount of food loss the U.S. experiences each year. Through item-level monitoring and real-time predictive analytics, Zest Fresh enables customers to improve the freshness and quality of produce, realize substantial cost savings and reduce food waste. To learn more about Zest Fresh click here.

Forward Looking Statements

This release contains forward-looking statements, including, without limitation, statements concerning business and possible or assumed future results of operations of Ecoark Holdings, Inc. and its subsidiaries; statements concerning the ability of Zest Labs’ technology to improve delivered quality consistency, significantly reduce perishable food waste, drive sustainability, and increase efficiency in the industry; statements concerning the ability of Zest Labs to develop new customers and achieve meaningful revenue increases; and statements concerning the Company’s ability to successfully divest non-core holdings and appropriate proceeds towards working capital for Zest Labs. Our actual results could differ materially from those anticipated in the forward-looking statements for many reasons including: access to growth capital on favorable terms; adverse economic changes affecting markets we serve; competition in our markets and industry segments; our timing and the profitability of entering new markets; greater than expected costs, customer acceptance of our products or difficulties related to our integration of the businesses we may acquire; and other risks and uncertainties as may be detailed from time to time in our public announcements and SEC filings. Although we believe the expectations reflected in the forward-looking statements are reasonable, they relate only to events as of the date on which the statements are made, and our future results, levels of activity, performance or achievements may not meet these expectations. We do not intend to update any of the forward-looking statements after the date of this document to conform these statements to actual results or to changes in our expectations, except as required by law.

 

Contact

Investor Relations:

John Mills

ICR

646-277-1254

John.Mills@icrinc.com

Public Relations:

Keith Watson

fama PR

617-986-5001

ecoark@famapr.com

Michael Green Joins Ecoark Board of Directors

AgTech Company Appoints Former IBM Executive to Help Bolster Blockchain Adoption Across Produce Growers, Distributors and Retailers

 

Rogers, AR – November 8, 2017Ecoark Holdings, Inc. (“Ecoark”) (OTCQX: EARK), to be renamed Zest Technologies, Inc., today announced that former IBM executive Michael Green has joined the company’s Board of Directors. Green joins the Board after an impressive career with IBM, where he was most recently vice president for Strategic Services North America.

Green retired from IBM in 2015, with a career highlighted by several leadership roles. Green remained with IBM as a consultant until April 2017 and, most recently, was involved with IBM’s blockchain initiative. Blockchain has emerged as a key technology for Ecoark subsidiary Zest Labs, with the company recently announcing the availability of blockchain support at no additional cost for growers and shippers in the fresh food supply chain using the Zest Fresh solution.

“Michael’s experience in spearheading strategic initiatives for one of the world’s most innovative companies will be an invaluable resource for us as we launch our blockchain services,” said Randy May, CEO of Ecoark. “As we work to create true transparency around food freshness and safety factors through the integration of blockchain technology and our ZIPR Code freshness metric, Michael’s expertise will be instrumental to our mission of modernizing the fresh food supply chain.”

Green brings extensive international and general management experience from his career with IBM. Prior to heading up strategic services for IBM North America, he served as the general manager of IBM North America’s strategic outsourcing services, vice president of healthcare and insurance for IBM global services, and vice president of strategic services for Latin America, among other roles.

“I am excited to join Ecoark’s Board and lend my experience, especially as the company continues to define the post-harvest agriculture technology space and leverages blockchain,” said Green. “There is a huge market opportunity for organizations looking to improve the food supply chain, enhance agricultural efficiency and yields and reduce post-harvest waste. Zest Labs is the only organization directly addressing this challenge.”

Green will fill the vacancy on the Board following the previously-announced voluntary resignation of Charles Rateliff.

About Ecoark Holdings Inc.

Founded in 2011, Ecoark (to be renamed Zest Technologies, Inc.) is an AgTech company modernizing the post-harvest fresh food supply chain for a wide range of organizations including growers, distributors and retailers. The company’s Zest Fresh™ solution, a breakthrough approach to quality management of post-harvest fresh food, is specifically designed to help substantially reduce the $161 billion amount of food loss the U.S. experiences each year. Through item-level monitoring and real-time predictive analytics, Zest Fresh enables customers to improve the freshness and quality of produce, realize substantial cost savings and reduce food waste. To learn more about Zest Fresh click here.

 

Forward Looking Statements

This release contains forward-looking statements, including, without limitation, statements concerning the business and possible or assumed future results of operations of Ecoark and its subsidiaries; and statements concerning the ability of Zest Labs’ technology to improve delivered quality consistency, significantly reduce perishable food waste, drive sustainability, and increase efficiency in the industry. Our actual results could differ materially from those anticipated in the forward-looking statements for many reasons including: access to growth capital on favorable terms; adverse economic changes affecting markets we serve; competition in our markets and industry segments; our timing and the profitability of entering new markets; greater than expected costs, customer acceptance of our products or difficulties related to our integration of the businesses we may acquire; and other risks and uncertainties as may be detailed from time to time in our public announcements and SEC filings. Although we believe the expectations reflected in the forward-looking statements are reasonable, they relate only to events as of the date on which the statements are made, and our future results, levels of activity, performance or achievements may not meet these expectations. We do not intend to update any of the forward-looking statements after the date of this document to conform these statements to actual results or to changes in our expectations, except as required by law.

 

Contact

Investor Relations:                                                   

John Mills

ICR

646-277-1254

John.Mills@icrinc.com

 

Public Relations:

Keith Watson

fama PR

617-986-5001

zest@famapr.com