Glocalink Singapore (Director: Dr. Ravikrishna Ramanujam) and Leave a Nest Singapore (Managing Director: Dr. Kihoko Tokue) , both affiliates of Leave a Nest Group (hereinafter referred to as “the Company”), invested in CRUST Group (Headquarters: Singapore, CEO: Mr. Travin Singh, hereinafter referred to as “CRUST Group”), which is working on a mission to reduce global food loss by 1% by 2030 by upcycling food waste & loss into unique beverage products.
Click here for the release from Leave a Nest Singapore.
We have a massive global food waste problem. Every year, a third of food produced or 1.3 billion tonnes1 gets lost or wasted globally. According to the UN, the global cost of food wastage amounts to a shocking US$2.6 trillion a year 2 . Not only is food waste and loss a large source of economic loss, it also contributes significantly to global warming, specifically 8-10 % of global greenhouse gas (GHG) emissions3 . Solving the problem of food waste is not only a solution for global food security, but also global warming. With the increasing scarcity of key resources and limited opportunities for agricultural expansion especially in land-scarce countries such as Singapore and Japan, eradicating food waste and loss is high on many countries' food security agenda. For example, in Singapore, 744 million kg of food was wasted in 2019 – the equivalent of 2 bowls of rice per person per day4. In Japan, 6 billion kgs of food was lost and wasted in 20185, approximately the amount of food the 13 million residents of Tokyo consume in a year.
Singapore-based CRUST Group is working on the issue of food waste & loss with partners in the food service and retail industry such as restaurants, hotels, and supermarkets. The company upcycles surplus ingredients such as bread and food waste such as fruit peels into unique products such as CRUST sustainable beers and CROP functional beverages
CRUST Group, which started in 2019, not only participated in TECH PLANTER Singapore organised by Leave a Nest Singapore, and also participated as a fourth-batch startup in the Enterprise Singapore (ESG)’s Global Innovation Alliance (GIA) program to expand its business in Japan.
With this investment, Leave a Nest Group and CRUST Group are planning to jointly develop new products in Japan with the aim of further creating business opportunities and solving the food waste problem. Glocalink Singapore, will further support CRUST Group's future business expansion in Japan.
About Glocalink Singapore
Glocalink Singapore, is a Agri food-tech focussed investment company with a vision to solve the most pressing problems in food security & advance the future of food and agriculture. Glocalink aims to do this by supporting & investing in early stage startups with innovative technologies to not only solve local issues but can be further developed and implemented to solve global challenges.
For enquiries:
Glocalink Singapore Pte. Ltd.
Attn: Ravikrishna Ramanujam
e-mail: [email protected]
References:
- https://twosides.info/includes/files/upload/files/UK/Myths_and_Facts_2016_Sources/18-19/Key_facts_on_food_loss_and_waste_you_should_know-FAO_2016.pdf
- http://www.fao.org/zhc/detail-events/en/c/243143/
- https://www.unep.org/resources/report/unep-food-waste-index-report-2021
- https://www.towardszerowaste.gov.sg/foodwaste/
- https://www.env.go.jp/en/headline/2515.html
