Outcast Foods secures investment to help combat food waste

Food technology company Outcast Foods has received a total investment of C$10m ($7.87m) from Canada’s District Ventures Capital and BDC Capital through a financing round.

BDC Capital and District Ventures Capital each invested C$5m ($3.94m) in the round.

District Ventures Capital general partner Arlene Dickinson said: “We are pleased to support a company that not only addresses the problems of food waste but is creating a future world rooted in sustainable food production.

“We’re excited to partner with Outcast with our investment as they prepare to scale their sustainable plant-based technology.”

Established by Dr Darren Burke and former NHL forward TJ Galiardi, Outcast Foods diverts food waste from landfills and transforms discarded fruits and vegetables into clean, nutrient-dense, sustainable food products.

Outcast Foods recycles rejected, surplus or outdated produce from local farms, food processors and grocers using upcycling technology to create its own line of upcycled protein powders and dietary supplements.

The company has partnered with multiple Canadian grocers, manufacturers, and farmers, who supply an average of one million pounds of daily food waste.

Outcast Foods also offers plant-based ingredients to a variety of industries, including cosmetic, agriculture and pet food manufacturers.

Outcast Foods co-founder and CEO Dr Darren Burke said: “We saw the giant issue of food waste as an opportunity to create a new category in the growing supplement industry.

“All we needed to do was figure out how to transform waste stream food into high-purity, nutrient-dense, long shelf-life natural health products.”