ADVERTISEMENT
Press release content from Globe Newswire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Globe Newswire
Press release content from Globe Newswire. The AP news staff was not involved in its creation.

Rhapsody commits $2.5MM to scale Verdafresh (formerly NanoPack, Inc.)

September 13, 2021 GMT

WAYNE, Pa, Sept. 13, 2021 (GLOBE NEWSWIRE) -- Verdafresh, formerly known as NanoPack, Inc., today announced a $2.5MM equity investment led by Rhapsody Venture Partners. The funding will support the launch of Verdafresh’s line of fully recyclable barrier films for food packaging and other applications.

Using its proprietary coating technology, Verdafresh is bringing to market high barrier packaging films made of at least 98% polyethylene, making them the best available fully recyclable films using existing infrastructure. Verdafresh films deliver oxygen transmission rates (OTR) of less than 0.1 cc/100in2/day – a breakthrough that allows brands to meet their sustainable packaging goals without sacrificing product quality or recyclability.

“The desire among brands for sustainable packaging has been clear for some time, and is growing even more rapidly now. We are impressed by Verdafresh’s recent strides, and their ability to deliver quality film at commercial scale today,” said Jason Whaley, General Partner at Rhapsody. “With this investment, Verdafresh will begin supplying customers immediately. Adopting these recyclable films will help companies meet their sustainability goals faster, and help communities recycle more of their waste.”

ADVERTISEMENT

“We greatly appreciate the support from our new investors as we move forward aggressively to commercial production,” said Fred Levitt, Verdafresh CEO. “Our technology is proven to provide exceptional barrier properties at large scale and low cost. We are excited to share it with the world.”

About Verdafresh

Our technology uses natural and abundant material to keep food fresh. We provide state-of-the-art flexible packaging to preserve food freshness and enable the circular economy and a healthy earth for all. To learn more, visit www.verdafresh.com.


Fred Levitt, CEO info@verdafresh.com