Apeel Acquires Imaging Technology to Unlock The Insights In Every Bite of Fruit – PRNewswire

SANTA BARBARA, Calif., May 11, 2021 /PRNewswire/ -- Apeel today announced its acquisition of ImpactVision for an undisclosed amount. ImpactVision's hyperspectral imaging technology is soon to be integrated into Apeel application systems at supplier locations around the world adding a new layer of insights to help fresh food suppliers and retailers further reduce food waste.Apeel's new imaging technology enables suppliers to see inside and understand the interior quality of fresh produce by collecting quantifiable data on stage of ripeness, freshness, nutritional density, and other indicators of quality. This marks Apeel's first acquisition and a major step toward quantifying and digitizing produce quality data, with the goal of democratizing this new information for the benefit of Apeel's partners and the global food system as a whole.

"Our journey began with Apeel's plant-based protection - an invisible 'peel' that addressesthe challenge of global food waste by bringing more time to fresh produce before it spoils. Now,we're expanding our technology to bring to light the previously invisible characteristics of produce, including internal quality, phytonutrient content, and environmental impact," said James Rogers, CEO of Apeel. "Using the insights enabled by Apeel's imaging technology, our partners willeffectively be able to 'see' inside of every fruit and vegetable, quantifying quality as never before, so that the distribution of fresh food can be optimized. For our partners, this will mean less wasteand an immediate bottom-line improvement, and ultimately, the ability to one day differentiateproduce by making freshness and nutritional content 'visible' to the consumer."

Apeel's plant-based protection that doubles the shelf life of produce is currently applied to fruitsand vegetables via application systems throughout packing houses and distribution centersacross North America, South America and Europe. Apeel's new imaging technology will be addedto these systems to collect data-rich images as produce travels along packing house conveyance lines. Acquired images will then be processed through machine learning models that can identify unique visual cues that relate to freshness, degree of maturity, phytonutrient content, and other aspects of fruit quality.

"ImpactVision's technology can predict internal quality of food products from hyperspectral images. When this ability to 'see beyond the borders of human vision' is combined with Apeel'sshelf-life extension technology, the potential to fundamentally transform produce supply chains to reduce post-harvest loss, optimize distribution and lengthen shelf-life is enormous," said AbiRamanan, Founder of ImpactVision.

With Apeel's continued expansion into new produce categories and geographies, the company ispoised to capture category-wide datasets across a previously fractured and data-poor landscape,which in turn will help shape new efficiencies and benefits that span across global fresh fruit andvegetable supply chains. Given that 40% of the food grown globally goes to waste, this morerobust and holistic understanding of produce quality will allow fresh food suppliers to optimizedistribution, thereby reducing food waste, and maximizing the quality that reaches consumers.

For example, suppliers can now know the exact ripening window for each piece of fruit to thensort and ship to geographical locations that will ensure retailers are getting the highest qualityproduce.

Today, Apeel has 30 supplier integrations on three continents with plans to double that numberby the end of 2021. With its imaging technology and positioning in the fresh food supply chain,Apeel is on a path to developing the largest and most comprehensive database of objective freshproduce insights for the global food industry.

Please visit Apeel's website for more information about Apeel plant-based protection andtechnologies.

ABOUT APEEL

Apeel is on a mission to create a more sustainable global food system by using the power ofnature to enable longer-lasting produce that fights food waste from farm to kitchen. Apeel producelasts 2x longer thanks to its plant-based protection made from materials found in the skins, peelsand seeds of all fruits and vegetables. Apeel's protective extra "peel" slows the water loss andoxidation that cause produce to go bad, and is the only proven end-to-end solution for maintaining freshness. Available for organic and conventionally grown produce, Apeel is expanding into anever-growing number of categories and markets. Good for consumers and the planet, Apeelreduces environmental impacts and gives everyone throughout the supply chainfrom growersto retailers to consumersmore time to enjoy fresh produce. Farmers can sell more of what theygrow and people can consume more of what they buy, creating a healthier planet and greaterabundance for all. Apeel is Food Gone Good.

Apeel is a trademark/registered trademark of Apeel Technology, Inc. in the United States, theEuropean Union, and other jurisdictions. To learn more, visit apeel.com.

CONTACT: [emailprotected]

SOURCE Apeel

https://www.apeel.com/