ImpactAlpha, Oct. 5 – Roughly 40% of fruit, vegetables and meats sold at grocery stores end up in landfills. The “closed loop” system of New Jersey-based Do Good Foods collects and processes excess food from grocers and raises livestock on the nutrient-dense feed. Its Pennsylvania production facility can convert 160 tons of food a day.
The company says each Do Good Chicken, due out next year, will repurpose approximately four pounds of food that would otherwise be thrown away.
Nuveen backed Do Good with $169 million. Do Good Foods was founded by the Kamine Family, which owns and operates $3.5 billion in natural gas, telecom, renewables and sustainable infrastructure through Kamine Development Corp.
“We need actionable solutions to our massive environmental problems, and we need them now,” says Do Good’s Matt Kamine. Sam Kass, President Obama’s former chef, is the company’s chief strategy officer.