New Zealand-based Zoono, a developer of antimicrobial packaging, reduced losses to USD 780,000 for the first half of the year, down from a USD 3.54 million loss in the previous period. Revenue increased by 11% to USD 426,600.
Zoono, in partnership with OSY Group, is conducting 29 trials across twelve countries on four continents, involving a range of clients such as supermarket chains, food producers, and exporters. The trials, initially focused on soft fruits, now include various fruits, vegetables, meat, fish, poultry, bread, ready-meals, and fresh flowers. Zoono states, "All tests and trials to date have been successful," supporting their claim of reducing global food waste.
The company faces legal proceedings from the NZ Commerce Commission over marketing claims about product efficacy. Zoono asserts confidence in its defense, citing over 200 independent tests confirming product effectiveness. The court date is set for May 4 next year.
While commercial uptake has been slower than anticipated due to the cautious approach of UK supermarkets, Zoono remains optimistic about interest in its technology and potential long-term revenue. The company is also negotiating with major packaging suppliers in the UK and Europe and expects orders from a Japanese pharmaceutical firm later in the year.
Zoono maintains it has adequate funding to meet objectives, with USD 468,000 in cash reserves and access to additional funding if needed.
Source: Packaging News