BEDMINSTER, NJ. — A new solution for reducing grocery store food waste has received significant funding. Do Good Foods, founded by brothers Matt and Justin Kamine and their father, Hal, has developed a closed-loop system to collect and convert unsold fruits, vegetables and meats into a nutrient-dense animal feed to create sustainable animal protein. Asset manager Nuveen has invested $169 million in the business.
The first production facility in Fairless Hills, Pa., has the capacity to collect and convert 160 tons of surplus food from approximately 450 grocery stores every day, totaling 60,000 tons a year. The company plans to replicate the model across the country over the next five years. An estimated 48 billion lbs of food waste are generated by grocery stores each year, according to the company.
“We need actionable solutions to our massive environmental problems, and we need them now,” said Matt Kamine, co-chief executive officer of Do Good Foods. “We can’t afford to wait 10 years or 20 years. The beauty of Do Good Foods is that it has immediate economic and environmental impact by driving us toward a more sustainable food system for all.”
The first product to launch, Do Good Chicken, will appear in supermarkets, restaurants and other foodservice outlets nationwide early next year.
Sam Kass, President Barack Obama’s former chef and nutrition policy adviser, has joined Do Good Foods as chief strategy officer.
“As a chef who has also had a seat at the policy table, I’ve worked with governments, NGOs, corporations and academics to solve food waste,” Mr. Kass said. “Do Good Foods will make an impact on this issue at a scale that we have not yet seen. When we launch our mission-driven consumer food brand, people can simply eat some delicious chicken and have significant impact on food waste and climate change.”