Company’s Zest Fresh Platform Embeds Food Freshness Metrics into the Blockchain for True Transparency Across the Supply Chain to Ensure the Safest Produce to Retailers and Restaurants
San Jose, Calif. – October 26, 2017 – Zest Labs, a subsidiary of Ecoark Holdings, Inc. (“Ecoark”) (OTCQX: EARK), today 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 all key food freshness and safety factors to all participants within the network.
“You can’t put a price on food safety and security,” said Peter Mehring, CEO of Zest Labs. “Consumers have become much more interested and informed about the safety and handling of their food. As a result, premier retailers and restaurants are now demanding blockchain technology be used to ensure the accuracy of this important information. To help make it easy for our growers and shippers to meet this new demand, we’ve seamlessly implemented this technology at no cost to them.”
Zest Fresh is the only freshness management solution that autonomously tracks and reports in real time the freshness of products from harvest to the retail store or restaurant kitchen. With the industry’s first dynamic freshness metric – the ZIPR code – Zest Fresh provides continuous real-time visibility of the remaining freshness capacity of produce and then directs intelligent routing to optimize delivery for required shelf-life.
“Zest Fresh quickly delivers access to blockchain technology for its customers by leveraging secure and authenticated data collection from its wireless IoT sensors, through its intelligent access points and into the secure Zest Cloud,” said Scott Durgin, CTO at Zest Labs. “Further, by combining our predictive analytics, we can extend the value of blockchain through smart contracts that can automatically recognize when fresh products meet contracted specifications throughout the supply chain.”
This unique combination of secure traceability and the ZIPR code freshness metric provides true transparency and intelligent routing that significantly improves freshness consistency for consumers and reduces waste for retailers. In fact, Zest Fresh is proven to reduce waste from spoilage by more than 50 percent for grocery retailers.
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.
About Ecoark Holdings Inc.
Founded in 2011, 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 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.