Fazla, a Turkish waste management company, is taking bold steps to combat the escalating global food waste crisis. With the issue rapidly approaching a staggering billion-tonne problem, Fazla is determined to reduce waste and curb waste-related carbon emissions throughout the supply chain. In a recent report, the United Nations Environment Programme revealed that a staggering 931 million tonnes of food are discarded annually.
Of this alarming figure, 569 million tonnes are attributed to household waste, while the food service and retail industries contribute 244 million tonnes and 118 million tonnes, respectively.
Founded in 2016 by Olcay Silahlı and Arda Eren, Fazla has made significant strides in its mission to tackle food waste and its environmental consequences. The company, a certified B Corp firm, has successfully prevented over 58,000 tons of food from going to waste and has managed to avert approximately 83,000 tons of carbon emissions. Such achievements have had a substantial positive impact on the environment.
In line with its commitment to addressing waste management challenges, Fazla has secured a notable milestone by raising $6 million in investment. The funding round, led by Esor Investment and 212, values the company at $43 million. The substantial financial backing will enable Fazla to expand its operations and make a significant entry into the Spanish waste management market.
With a focus on accelerating its presence within the Spanish waste management ecosystem, Fazla plans to allocate the newly acquired funds towards research and development efforts. By doing so, the company aims to diversify and enhance the range of services it offers. Fazla's strategic initiatives are poised to make a profound difference in waste reduction and further contribute to a sustainable future.
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