September 13, 2023

Photo credit: RipeLocker

By Lynda Kiernan-Stone, Global AgInvesting Media

Imagine what the impacts would be if we had the ability to keep organic blueberries in perfect condition for eight weeks after harvest, or being able to keep hops fresh for an additional six weeks until they are used. This is the exact achievement that RipeLocker is bringing to our food supply chains.

Initially, due to the current investment climate in the agtech space, RipeLocker’s Board and current investor group decided to pause its Series A until revenue growth exceeded last year’s. But confident that 2024 revenue will exceed last year, RipeLocker announced that its current investor group, along with additional new investors, committed another $10 million in capital to the company.

Founded in 2016 in Seattle, Washington, by the father-son team of George and Kyle Lobisser, RipeLocker’s patented, dynamic, low-atmosphere storing and shipping containers have the ability to extend the post-harvest life of perishable foods and flowers by weeks, or in many cases, months.

About the size of a pallet, the company’s containers are made from recycled materials, are reusable, and precisely manage the oxygen, pressure, CO2, and humidity within the containers by creating a low-oxygen vacuum through saturating air with water vapor. RipeLocker can tailor these parameters based on the requirements of each type of fresh produce or flower to optimize the longevity and freshness for each, and each container can respond to changes in its storage and shipping environment by making precise adjustments to reduce decay and prevent damage.

Produced via injection molds, RipeLocker has designed their containers to be stackable, and to be easily deployed within existing cold supply chains, with 40 fitting into an ocean or truck reefer (refrigerated container).

“Revenue growth this year is coming from roses, blueberries, walnuts, and fresh hops,” said George Lobisser, co-founder and CEO, RipeLocker. “We continue to show efficacy on multiple new perishables and are confident actual revenue will continue to grow as a result. In addition, we are optimistic about our “Green” decay control solution that we are hoping to launch by year’s end.”

At a time when one in seven Americans is food insecure, 52 million tons of food ends up in a landfill, not counting another 10 million tons of food that is left in fields discarded or unharvested each year. 

One-third of the food produced in the U.S. is never consumed, and food accounts for the most common material present in landfills or material being incinerated, at 24 and 22 percent respectively, according to the report From Farm to Kitchen: The Environmental Impacts of U.S. Food Waste released by the Environmental Protection Agency (EPA) in November 2021. 

This wasted food translates to a litany of “wasted” agricultural land, water, inputs, and energy – not to mention the greenhouse gas emissions released in its production and degradation to the environment and biodiversity.

The EPA outlines that every year, food loss and waste reflects:

~ 140 million acres of agricultural land, or the size of the states of New York and California combined.
~ 22 trillion gallons of water, or the equivalent of water usage for 50 million homes.
~ 6,350 million kg (14 billion pounds) of fertilizer – or enough to produce all plant-based foods in the U.S. for domestic consumption.
~ 664 billion kWh – enough energy to power 50 million U.S. homes for a year.
~ 170 million MTCO2e GHG emissions (not including emissions from landfills) – or the equivalent to the annual GHG emissions from 42 coal-fired power plants.
~ And enough calories to feed more than 150 million people each year. 

Reflecting how important it is to combat these ongoing implications, the company has patents on both the design of their containers and the method of operation, and presents the technology as the first solution that can be delivered in a cost-efficient manner at scale. It also is continuing to conduct efficacy trials with some of the largest growers in the world. 

“This $10 million in new funds brings the total to $30 million raised since inception,” noted George Lobisser. “The additional financing will be used to upgrade the design of hardware and software for an improved user experience and prepare a scale-up of inventory for commercial launches to customers worldwide.”

~ Lynda Kiernan-Stone is editor in chief with GAI Media, and is managing editor and daily contributor for Global AgInvesting’s AgInvesting Weekly News and  Agtech Intel News, as well as HighQuest Group’s Unconventional Ag. She can be reached at lkiernan-stone@globalaginvesting.com.

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