Rabat – Morocco’s UM6P Ventures, a venture capital firm affiliated with Mohammed VI Polytechnic University, has invested in Akorn Technology, an innovator in edible food coatings, to create a positive impact on global food production, security, and sustainability.
Akorn Technology has notably developed a multifunctional, natural edible coating platform based on a technology that uses hybrid film of lipids and vegetable proteins.
The innovative solution prevents post-harvest loss and waste across a wide range of crops, including tree fruits, citrus fruits, tropical fruits, stone fruits, and vegetables, UM6P Ventures said in a press release.
The patent-technology, which is already approved for use on a wide range of fruits and vegetables in both the US and the EU, reduces post-harvest crop loss and food waste, hindering the development of bacteria and fungi.
“UM6P Ventures’ investments are based on the fundamental thesis of strengthening the capacity of Moroccan and African ecosystems to address major issues such as the global food crisis and climate change,” said Yasser Biaz, CEO of UM6P Ventures.
Biaz further noted that the partnership with the American startup “will serve to build the skills and technical expertise of local talent and will benefit other initiatives or startups in this field.”
Akorn Technology will use the initial investment to increase its manufacturing and support customer trials on a wide range of crops.
The startup also seeks to implement running test pilots on local Moroccan crops such as lemon, tomatoes, among others, to study, evaluate, and adapt its technology to local climate conditions.
Akorn Technology will leverage the surface coating expertise of UM6P labs to conduct the tests. The company also intends to work alongside UM6P Ventures’ Agrobioscience industry partners to scale their manufacturing capabilities.
The initiatives are expected to be carried out in collaboration with different partners of Moroccan and African ecosystems.
Anthony Zografos, CEO of Akorn Technology, said that the newly sealed partnership “will allow us to bring this innovative technology platform to regions that could benefit most from our food coating solutions.”
“By testing our products in unique regional climate environments and leveraging state of the art UM6P nanotechnology labs, we hope to accelerate our time to market in regions that suffer disproportionately from food supply shortages globally,” Zografos concluded.
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