Coating fruit and vegetables Reducing plastic waste and Increasing Shelf life of Produce

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After harvest, it is difficult to maintain freshness of produce. An estimated 45% of fruit and vegetables go to waste every year. Currently, plastic packaging is the state-of-the-art to extend the shelf life of fruit and vegetables. However, plastic packaging waste is rarely recycled and is environmentally damaging; burning of plastics, leaching into groundwater from landfill and microplastic particles cause harm to the environment, and human health. Legislation in the EU is already addressing consumer concerns by restricting single use plastic packaging for fruits and vegetables. There is an urgent need from the fruit/vegetable sector for an alternative to plastic. Saveggy has developed an edible, biodegradable, plant-based coating for fruits and vegetables to reduce both food and packaging waste. It is the first and only alternative that offers a shelf life comparable to plastic packaging, and the only coating currently in development that is using 100% plant based, EFSA compliant food ingredients without any additives. The tasteless coating offers protection against dehydration, oxidation, mechanical damage, and microorganisms, extending the average shelf life of fruits and vegetables from 3-4 days to 10-14 days. Currently, Saveggy has developed and optimised a cucumber coating which will enter the market in 2024 (24 tonnes of coating). With EIC's support, we will 1) further develop formulations for other fruits and vegetables: bell pepper, banana, and eggplant, 2) develop coating application machinery, and 3) develop large-scale coating production. Our cucumber coating will be sold for €14-17/L (~€0.04-0.05/item compared to €0.02 for plastic). By 2026, we will reach breakeven point. The projected revenue for 2026 will be €14.1 M (973 tonnes of coating) with an EBITDA of €3.0 M. By 2030, revenue will reach €131.2 M (selling 6190 tonnes of coating and from out licensing) with an EBITDA of €86.6 M.