Fancypants Baking Co. announces the first flavor in their new line of cookies baked with upcycled ingredients. Okara Choc...
Food waste: the world's $1.2T problem
If food waste were its own country, it would be the 3rd highest greenhouse gas emitter behind China and the US. 30% of the food produced worldwide is never consumed, causing a massive waste of natural resources as well as financial loss. According to Project Drawdown, reducing food waste is the #1 thing we can do to stop global warming in 2020.
Yet despite this massive food waste, 1 in 7 Americans is food insecure. With all the food never eaten or thrown out in the supply chain, over 3.5 B people could be fed.
Upcycled ingredients create nutritious, high fiber foods
Renewal Mill harvests undervalued byproduct streams from current food production processes to create nutritious, high-fiber ingredients & foods. We create value from the 6B lbs of fibrous food wasted annually in the US alone.
Using our unique co-location model, we build bridges between the companies generating byproducts and natural foods retail and wholesale customers. In bridging this gap, we provide a B2B service that manufacturers value, B2B ingredients food developers demand, and B2C products that customers love. By upcycling, we’re saving water, reducing harmful emissions, and leaving the planet better than we found it.
Flour that fights climate change
Renewal Mill aims to be the food industry's go-to upcycled ingredients supplier.
Our flagship ingredient is okara (oh-kar-ah), the soybean pulp leftover from soymilk processing. We dehydrate and mill okara into a nutritious high fiber, low-carb, gluten-free flour. Studies demonstrate eating okara improves cardiovascular health, reduces obesity, and boosts muscle recovery. It's one of the first superfood flours with price, taste, and use parity to all-purpose flour, enabling use in both sweet and savory foods. We even use okara in our own CPG products.
Okara is only the beginning. By harvesting untapped byproduct streams, Renewal Mill can offer a full pantry of upcycled flours. Our second ingredient will be oat flour from oat milk processing.
Award-winning first movers in the upcycled ingredient market
Renewal Mill is powering a new category of food, namely the upcycled ingredient market. We have received numerous awards including World Changing Idea by Fast Company, the inaugural IFTNEXT Food Disruption Challenge, and the Expo East Rising Star award. We are a founding member of the Upcycled Food Association and have established successful joint projects with companies like Cargill, Barilla, and more.
We have demonstrated traction with both B2B & B2C sales and partnerships. We're currently running a pilot project with Barilla to use upcycled ingredients in their biscuit line. Our products can be found online and in 85+ stores across the United States, including Hawaii.
Our products were created to answer food waste problems and consumer demands for healthier food with cleaner labels. As such, our client base is mostly environmentally conscious consumers using their dollars to affect change, and the food companies feeding them. Today's shoppers want sustainable goods, and they're willing to pay more for them.
Customers love our flour, baking mixes, and ready-to-eat products. See what they have to say:
Dual B2B & B2C sales strategy drives impact and education
Renewal Mill sells upcycled ingredients directly to manufacturers, producers, food service outlets, and brokers. Our own-brand CPG products can also be found in grocery stores across the US, as well as for purchase online. Our CPG products act as a revenue-generating marketing opportunity to drive consumer awareness of upcycling. We maintain an average 30-60% margin on products sold.
With more fiber & protein, but lower cost, okara flour offers far better value than other gluten-free flours like cassava, almond, or quinoa. Our current CPG product lineup includes flour, cookies, and baking mixes. All products are plant-based and priced for the natural channel.
$270B flour market, driven by alternative flours
By selling to both brands and consumers, we are addressing a potential $270B flour market. Our products are part of a quickly growing subsection of this market (10% CAGR), with upcycled and superfood flours being named a top food trend for 2020.
Scratch baking a new industry
We're first-to-market thought leaders in the burgeoning upcycled food space with defensible differentiators.
The future of food: better for you, better for the planet
At Renewal Mill, our vision is to create a new circular economy of food that closes the loop in today’s current supply chain, keeps valuable nutrition from going to waste, and reduces our impact on the environment.
By diverting byproducts from landfills, we reduce greenhouse gas emissions. By employing innovative sourcing and processing, we keep costs low and connect consumers to inexpensive, high quality nutrition.
As part of our immediate vision, we plan to expand our CPG product line, which currently includes upcycled baking mixes & cookies. With your investment, we will continue to reduce food waste and feed people around the world.
$1.75M raised to date
Our funding includes an equity investment from Techstars Farm to Fork Accelerator, non-dilutive capital from the Closed Loop Fund, and cash prizes of $75K+ from numerous startup competition challenges. Our initial investments went towards scaling our current production and expanding into new market opportunities.
Renewal Mill is a female-led team of food industry experts & entrepreneurs