Image courtesy of Freshr Sustainable Technologies Inc.
Freshr Sustainable Technologies Inc., a packaging developer based in Dartmouth, Nova Scotia, has solidified a joint development agreement with Japan-based Mitsubishi Chemical Corp. (MCC).
Mitsubishi Chemical Group (MCG), the holding company of MCC, has invested in Freshr to support the Canadian firm’s technology scale-up and global growth, aligning with MCG’s Kaiteki Vision 35 strategy. MCC is considered a core company of MCG, and a global materials and sustainability innovator.
Freshr says the collaboration marks a significant step in advancing its goal to reduce food waste through sustainable packaging development, adding that the joint development agreement reflects a strategic alignment with MCG’s Kaiteki Vision 35, which aims to achieve long-term sustainability across environmental, social and economic dimensions, including a targeted business focus on food quality preservation.
“We are extremely proud to partner with Mitsubishi Chemical Corporation,” Freshr founder and CEO Mina Mekhail says. “This agreement reflects MCC’s deep commitment to innovation and sustainability and affirms the progress we’ve made toward a global vision: reducing food waste with scalable, science-backed solutions.”
Toshiaki Esumi, business senior director of the Packaging & Barrier Films Department at MCC, says the partnership with Freshr supports its Kaiteki Vision 35 by advancing practical solutions that promote sustainability and improve food quality.
“We believe their innovative approach to packaging has the potential to significantly reduce food waste and deliver real value across the global supply chain," Esumi says.
Freshr claims food waste is a global crisis, responsible for $2.6 trillion in annual economic losses and 10 percent of greenhouse gas emissions annually. The company says that in Japan alone, 4.64 million tons of food loss and waste are generated each year.
Freshr says it is combating food waste by developing packaging components that can extend the shelf life and reduce spoilage of proteins like seafood beef and ham. The company says its FreshrPack technology is a naturally derived coating that is chemically immobilized on the surface of food packaging film, extending its shelf life by inhibiting bacteria growth.
“At the end of the day, what we sell is time,” Mekhail says. “Time that enables stakeholders across the supply chain to unlock significant value. For exporters, it means reaching further markets and opening new trade routes. For distributors, it offers the flexibility to choose more cost-effective transportation options. And for retailers, it means reducing waste and recovering revenue that would otherwise be lost.”
For example, Freshr claims a two-to-four-day extension in the shelf life of fresh salmon can reduce waste by up to 50 percent, unlocking an estimated $37 million in annual recovered value per retailer.
“This joint development agreement is a strategic opportunity for Freshr to expand into the Japanese market and gives Mitsubishi Chemical Group the opportunity to prepare the market in Japan for what we intend will be a robust long-term partnership in one of the world’s strongest economies,” Mekhail says.
The agreement follows Freshr’s oversubscribed investment round in March, which included participation from Diamond Edge Ventures (the venture capital arm of MCG), Invest Nova Scotia, Nadarra Ventures, BDC Capital’s Climate Tech Fund and Blue Tide Capital Ventures.