Ecoark Holdings Announces New Corporate Strategy, Will Rebrand as Zest Technologies

Company to Focus Solely on Zest Opportunity and Explore Divesting All Non-Core Holdings

 

Rogers, Ark. and San Jose, Calif – September 26, 2017 – Ecoark Holdings, Inc. (“Ecoark”) (OTCQX: EARK) today announced that its Board of Directors has unanimously approved a new corporate strategy and management change. The company is transitioning from a diversified holding company into a company focused solely on its Zest Labs asset. Zest Labs provides a growing suite of freshness management solutions that substantially improve quality consistency and drive sustainability for a wide range of clients that are searching for a solution to the $161 billion amount of food loss the U.S. experiences each year.  The Company previously announced that it was exploring strategic opportunities related to Zest Labs. As a result of this effort, the Board unanimously determined the best approach was 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.

 

As a result of the new focus and related corporate strategy changes:

  • Ecoark Founder and Chairman Randy May has rejoined the company full-time and has been named CEO
  • Jay Puchir, current CEO of Ecoark, has been appointed CFO
  • Charles Rateliff, current CFO of Ecoark, will transition to a company advisor
  • Peter Mehring, CEO of Zest Labs, has been named President of Ecoark in anticipation of rebranding to Zest Technologies. Mehring will remain CEO of Zest Labs
  • The company will explore divesting all non-core holdings and will appropriate all proceeds toward working capital for Zest Technologies

 

“After extensive exploration of all strategic options related to Zest Labs, including a potential spin-off of the company, it became clear that the best way to ensure maximum shareholder value and capitalize on our main asset was to make it our sole focus,” stated Randy May. “By focusing solely on Zest, and our mission of modernizing the fresh food supply chain through technology, everyone is 100 percent aligned and focused on driving revenue from retail grocers, their key suppliers and their distribution partners to ensure we maximize the huge market opportunity in front of us.”

 

Zest Labs enables 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. The company is poised to lead the agriculture and supply chain industries with cloud-based software solutions, helping farmers, distributors and grocers substantially reduce the 31 percent food waste problem currently burdening the post-harvest fresh food industry.

 

“Everyone we talked to through this process – from bankers and equity analysts to customers and potential suitors – affirmed our belief that the fresh food supply chain is ripe to be disrupted through digital transformation. The market opportunity is now,” stated Peter Mehring. “With these corporate strategy changes, and the financial vehicles we’re retaining from the former holding company model, we now have the resources and focus to help growers and retailers dramatically improve customer satisfaction by ensuring the freshness and quality of their produce, while also helping them realize substantial cost savings by reducing food waste.”

 

Zest Labs is modernizing the post-harvest fresh food processing and distribution industry by delivering six sigma process management in an approachable and scalable service. The company’s Zest Fresh™ solution is a breakthrough approach to quality management of post-harvest fresh food that substantially reduces food loss and waste by improving quality consistency. Zest Fresh addresses quality consistency shortcomings by combining cloud, mobile and cost-effective, item-level monitoring technology with real-time predictive and prescriptive analytics. With Zest Fresh, growers, distributors and retailers improve quality consistency, profitability and sustainability while reducing waste.

 

“I would also like to thank Charles Rateliff for his service and dedication to improving the financial framework of Ecoark prior to this pre-planned transition. Charles will continue to mentor myself and the rest of the executive team as an advisor to the company,“ stated Randy May.

 

About Ecoark Holdings, Inc. and Zest Labs
Founded in 2011, Ecoark  currently has five subsidiaries: Zest Labs, 440Labs, Pioneer Products, Sable Polymer Solutions and Magnolia Solar.  Zest Labs provides a growing suite of freshness management solutions that substantially improve quality consistency and drive sustainability for a wide range of clients. Zest Labs provides solutions to modernize the existing food distribution and delivery system by significantly increasing efficiency through continuous condition monitoring and real-time prescriptive analytics.

To learn more about Zest Labs, please click here. To watch a video about Zest Fresh, please 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 Holdings, Inc. and its subsidiaries; statements concerning the possible or assumed ability of Zest Labs to accelerate its growth, lead the industry, and broaden its opportunities; statements concerning the possible or assumed ability of Zest Labs to reduce fresh food spoilage and improve quality consistency, efficiency, profitability, and sustainability; and statements about the potential impacts of completing planned corporate strategy change initiatives and management changes. Our actual results could differ materially from those anticipated in the forward-looking statements for many reasons, including but not limited to: 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

Zest Labs Unveils Produce Advisory Board

Advisory Committee Will Enable Company to Align Product Development With Industry Needs 

Board Will Be Formally Announced At Zest Labs Open House on September 27

San Jose, Calif. – September 25, 2017 – Zest Labs, a subsidiary of Ecoark Holdings, Inc. (“Ecoark”) (OTCQX: EARK), today announced the launch of its Produce Advisory Board, which will enable the company to further align products and services with industry needs. The advisory board will reflect 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. Its founding members include Craig Miller, president of Western Precooling Systems, and Gary Pasquinelli, president of Pasquinelli Produce Company.

“We believe our Produce Advisory Board will provide great insight and perspective into the grower community,” said Peter Mehring, CEO of Zest Labs. “Their input will enable us to validate and refine our solutions to truly address the most pressing industry problems and take advantage of the opportunities available in the community, along with helping our main focus of tackling the nation’s growing food waste epidemic.”

Craig Miller is president of Western Precooling Systems, the partner of choice for over 70 years for growers and shippers to get fresh, healthy produce from the field to their customers. The company is at the forefront of precooling processes and systems, leading the industry and supporting its customers in providing the best produce possible throughout the world. At over 100 sites throughout the West’s primary growing regions, Western Precooling and its associated companies deliver the experience, services, equipment and peace of mind that growers and shippers need.

As president of Pasquinelli Produce Company, Gary Pasquinelli is a second generation farmer of fresh vegetables and melons in Yuma, Arizona. Pasquinelli Produce has been a grower-shipper for more than 50 years, harvesting 9,000 acres of winter vegetables, including iceberg, red leaf, green leaf, butter and romaine lettuces, cauliflower, broccoli, celery, fennel and spinach. The company has grown vegetables for Dole Fresh Vegetables, Duda Farm Fresh Foods, Inc. and Steinbeck Country Marketing since 1993. It also grows winter vegetables for Ippolito and Growers Veg. Express. In addition, the company grows, harvests and markets its own line of seedless watermelons.

“It doesn’t matter which side of the supply chain you’re on, food waste is a major issue that our industry is struggling with, and it’s impacting the bottom line for growers and retailers, as well as the end product our customers are receiving,” said Pasquinelli. “Being able to work with a company that can offer the data and solutions to prevent this issue and understand the obstacles we’re facing is necessary in order to solve this problem.”

The Produce Advisory Board will be formally introduced at Zest Labs’ Open House event on Wednesday, September 27 in San Jose, Calif. The event is open to the public and will be webcast live. Interested attendees can find more information about the event and register to attend on the Ecoark website at https://ecoarkusa.com/zest-labs-open-house/.

 

About Zest Labs
Zest Labs, a subsidiary of Ecoark Holdings, Inc., provides a growing suite of freshness management solutions that substantially improve quality consistency and drive sustainability for a wide range of clients. Zest Labs provides solutions to modernize the existing food distribution and delivery system by significantly increasing efficiency through continuous condition monitoring and real-time prescriptive analytics.

To learn more about Zest Labs, please click here. To watch a video about Zest Fresh, please click here.

About Ecoark Holdings Inc.

Founded in 2011, Ecoark Holdings, Inc. is a diversified holding company focused on delivering long-term shareholder value. The company currently has five subsidiaries: Zest Labs, 440Labs, Pioneer Products, Sable Polymer Solutions and Magnolia Solar.  For more information, please visit https://ecoarkusa.com/, and follow us on Twitter and LinkedIn.

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 Zest Labs; 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

Zest Labs Announces Details for Open House in San Jose, Calif. on September 27, 2017

Event to Feature Updates on Company Initiatives and Milestones, including Grower Advisory Board and Product Development 

 

San Jose, CA – August 29, 2017 – Zest Labs, a subsidiary of Ecoark Holdings, Inc. (“Ecoark”) (OTCQX: EARK), today announced additional details for its Open House scheduled for Wednesday, September 27, 2017 in San Jose, Calif. The event will focus on key company milestones, including the Zest Fresh solution and how the technology improves delivered quality consistency while significantly reducing perishable food waste.

 

Who: Peter Mehring, CEO of Zest Labs

Zest Labs Executive Team

Grower Advisory Board Members

 

What: At the Zest Labs Open House, attendees will be introduced to the Zest Labs Grower Advisory Board and its initial members. Zest Labs values the insights and perspective that industry leaders provide, and looks to validate and refine its solutions and approach through support from these advisors. The event will also feature presentations sharing Zest Labs’ current initiatives, recent milestones and testimonials from growers using the Zest Fresh solution, as well as the company’s perspective and roadmap on blockchain applications within the fresh food supply chain. To close the event, Zest Labs will host a Q&A with attendees.

 

When: Wednesday, September 27 from 10 a.m. – 11:30 a.m. PDT

 

Where: Crowne Plaza Hotel San Jose – Silicon Valley

777 Bellew Drive

Milpitas, Calif.

 

Of the event, Peter Mehring said, “Food waste has ballooned into a $160 billion global issue, and the strides Zest Labs has made towards helping the industry reduce that number have been significant. I look forward to sharing those exciting milestones with all of our Open House in-person and webcast attendees in September.”

 

This event is open to the public and will be webcast live. Interested attendees can find more information about the event and register to attend on the Ecoark website at https://ecoarkusa.com/zest-labs-open-house/.

 

About Zest Labs
Zest Labs, a subsidiary of Ecoark Holdings, Inc., provides a growing suite of freshness management solutions that substantially improve quality consistency and drive sustainability for a wide range of clients. Zest Labs provides solutions to modernize the existing food distribution and delivery system by significantly increasing efficiency through continuous condition monitoring and real-time prescriptive analytics.

To learn more about Zest Labs, please click here. To watch a video about Zest Fresh, please click here.

 

About Ecoark Holdings Inc.

Founded in 2011, Ecoark Holdings, Inc. is a diversified holding company focused on delivering long-term shareholder value. The company currently has five subsidiaries: Zest Labs, 440Labs, Pioneer Products, Sable Polymer Solutions and Magnolia Solar.  For more information, please visit https://ecoarkusa.com/, and follow us on Twitter and LinkedIn.

 

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 Zest Labs; 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 Board Authorizes Leadership to Evaluate Potential Zest Labs Spin-Off

Unanimous Vote Provides Authority to Explore Strategic Options to Bolster Zest Labs as a Standalone Technology Company

Rogers, AR – August 9, 2017 – Ecoark Holdings, Inc. (“Ecoark”) (OTCQX: EARK), a diversified holding company, today announced that the Board of Directors has given its leadership the authority to explore strategic options related to Zest Labs, including but not limited to a potential spin-off of the company. Ecoark leadership will evaluate all options for Zest Labs in an effort to unlock long-term shareholder value and maximize Zest Labs’ opportunity to lead the agriculture and supply chain industries with cloud-based software solutions, helping farmers, distributors and grocers substantially reduce the 30 percent food waste problem currently burdening the post-harvest fresh food industry. Zest Labs will also expand the size of its Board of Directors to allow the addition of new Board members with specific industry expertise.

 

“Our executive team unanimously feels there is great potential for Zest Labs to generate more shareholder value as a standalone company than as a wholly owned subsidiary within our holding company,” said Jay Puchir, chief executive officer of Ecoark. “We are closely evaluating all options, and this board authorization is a key step to establishing Zest Labs as a viable standalone player in this rapidly emerging market.”

 

Zest Labs’ technology enables 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 for a wide range of clients. The company is modernizing the post-harvest fresh food processing and distribution industry by delivering six sigma process management in an approachable and scalable service.

 

The USDA estimated the amount of food loss in the U.S. to be $161 billion, and quality consistency remains a primary contributor to food loss. The Zest Fresh™ solution is a breakthrough approach to solve this issue through quality management of post-harvest fresh food that substantially reduces food loss and waste by improving quality consistency. Zest Fresh addresses quality consistency shortcomings by combining cloud, mobile and cost-effective, item-level monitoring technology with real-time predictive and prescriptive analytics. With Zest Fresh, growers, distributors and retailers improve quality consistency, profitability and sustainability while reducing waste.

 

“We are excited to explore these initiatives to accelerate our growth and broaden our opportunities as an independent company,” stated Peter Mehring, chief executive officer of Zest Labs. “This transition best positions Zest Labs to expand our leadership in reducing food waste with Zest Fresh, our proven freshness management solution.”

 

Zest Labs will host an open house in San Jose, Calif. on September 27, 2017. During the event, Zest Labs executives will present the Zest Fresh solution and how the technology improves delivered quality consistency while significantly reducing perishable food waste. Following the presentations, Zest Labs will host a Q&A. This event is open to the public. Interested attendees can find more information about the event and register to attend on the Ecoark website. Additional details will be released closer to the event date.

 

About Zest Labs
Zest Labs, a subsidiary of Ecoark Holdings, Inc., provides a growing suite of freshness management solutions that substantially improve quality consistency and drive sustainability for a wide range of clients. Zest Labs provides solutions to modernize the existing food distribution and delivery system by significantly increasing efficiency through continuous condition monitoring and real-time prescriptive analytics.

To learn more about Zest Labs, please click here. To watch a video about Zest Fresh, please click here.

 

About Ecoark Holdings, Inc.

Founded in 2011, Ecoark Holdings, Inc. is a diversified holding company focused on delivering long-term shareholder value. The company currently has five subsidiaries: Zest Labs, 440Labs, Pioneer Products, Sable Polymer Solutions and Magnolia Solar. For more information, please visit https://ecoarkusa.com/, and follow us on Twitter and LinkedIn.

 

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 Holdings, Inc. and its subsidiaries; statements concerning the possible or assumed ability of Zest Labs to accelerate its growth and broaden its opportunities; statements concerning the possible or assumed ability of Zest Labs to reduce fresh food spoilage and improve quality consistency, efficiency, profitability, and sustainability; statements about the ability of Zest Labs to successfully attract new board members with specific industry expertise; and statements about Ecoark’s ability to complete, and the potential impacts of completing, potential strategic options regarding Zest Labs, including but not limited to a potential spin-off of Zest Labs. Our actual results could differ materially from those anticipated in the forward-looking statements for many reasons, including but not limited to: 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.  In addition, we do not know whether any particular strategic options being explored related to Zest Labs, including but not limited to a potential spin-off, will actually be completed or the potential impacts of those strategic options, and our ability to complete any strategic options related to Zest Labs will depend on a significant number of factors, including those identified in the previous sentence, and a number of other unknown factors that are outside of our control. 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 Announces Two Upcoming Corporate Events

First Quarter, Fiscal Year 2018 Operating Results Call to be held on August 10, 2017

Zest Labs to Host “Open House” on September 27, 2017   

Rogers, AR – July 19, 2017Ecoark Holdings, Inc. (“Ecoark”) (OTCQX: EARK), a diversified holding company, today announced that it will host a business update and operating results call on Thursday, August 10, 2017, at 4:30 p.m. EDT. 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 +1-877-780-3381. 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 3119498.

Zest Labs Open House

Additionally, Zest Labs, a subsidiary of Ecoark, will host an open house in San Jose, Calif. on September 27, 2017. During the event, Zest Labs executives will present the Zest Fresh solution and how the technology improves delivered quality consistency while significantly reducing perishable food waste. Following the presentations, Zest Labs will host a Q&A.

This event is open to the public. Interested attendees can find more information about the event and register to attend on the Ecoark website at https://ecoarkusa.com/zest-labs-open-house/. Additional details will be released closer to the event date.

About Ecoark Holdings Inc.

Founded in 2011, Ecoark Holdings, Inc. is a diversified holding company focused on delivering long-term shareholder value. The company currently has five subsidiaries: Zest Labs, 440Labs, Pioneer Products, Sable Polymer Solutions and Magnolia Solar. For more information, please visit https://ecoarkusa.com/, and follow us on Twitter and LinkedIn.

Forward Looking Statement

This release contains forward-looking statements, including, without limitation, statements concerning the 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 and significantly reduce perishable food waste. 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.

Contacts:

Investor Relations:

John Mills, Managing Partner

ICR, Inc.

646-277-1254

John.Mills@icrinc.com

 

Public Relations:

Keith Watson

fama PR

617-986-5001

ecoark@famapr.com