Neutral Foods, first U.S. Carbon Neutral Food Company, Announces $4M Seed Financing

PORTLAND, Ore., Oct. 27, 2021 /PRNewswire/ -- Neutral Foods, America's first carbon neutral food company announced it raised $4 million in financing from two leading venture capital firms, bringing its total funding to more than $4.8 million to date.

Breakthrough Energy Ventures led the round with Mark Cuban Companies participating. The company is expanding nationally to debut its carbon neutral organic milk in more than 500 U.S. Whole Foods Markets stores in November after an overwhelmingly positive response from shoppers in Oregon and Washington. Whole Foods Market also named Neutral Organic Milk as a part of their top 10 trends for 2022.

Neutral Foods was founded in 2019 in Portland, Oregon with a mission to radically reduce the carbon footprint of agriculture. Neutral works with dairy farmers to implement a number of strategies to drive down the carbon emissions of its milk, and what can't be reduced is offset through the purchase of carbon credits from US dairy farmers who turn cow emissions into renewable energy.

"We believe a large number of consumers desire greater control of their climate change purchasing decisions," said Carmichael Roberts, Breakthrough Energy Ventures. "Neutral's availability at Whole Foods Market is an opportunity for consumers to consciously choose climate aligned products in their daily lives, and we're proud to support their mission to reduce the carbon footprint of products consumers know and love."

"Neutral is a game-changer," said Mark Cuban, owner of the Dallas Mavericks and judge on ABC's Shark Tank. "Neutral works with farmers to deploy on-farm carbon reduction projects focused on compost, manure management and feed changes. It's a unique solution that can feed us while protecting us. It's a program that I'm proud to be part of."

The capital raised will be used to support national distribution, driving awareness and trial of the brand, and to make direct investments with farmers on projects to reduce carbon emissions.

"Solutions to reduce agricultural GHG emissions and increase sequestration on agricultural lands exist, but they're expensive. We're giving farmers the capital they need to adopt low- or no-emitting solutions," said Ann Radil, Head of Carbon Reduction at Neutral. "This year we're investing in family-owned farms in Oregon and Washington, reducing GHG emissions by changing what cows eat and how nutrients are managed. Over their lifetimes, these projects will avoid more than 3,200 metric tons of carbon dioxide equivalent from entering the atmosphere. Next year we're tripling our investment in family-owned farms across the US, funding tactics that reduce operational emissions or increase long-term carbon storage in vegetation and soils."

"Milk is consumed daily and found in more than 90% of U.S. households, so by lowering the carbon footprint in a glass of milk, they have the potential for a massive and beneficial impact on climate change. Many of my friends who are professional or recreational athletes are often looking for a clean protein choice. Neutral is the obvious choice for not only those who care about preserving the environment, but for those who care about keeping in the best shape and meeting their daily dairy nutritional requirements — professionally or personally," said Jake Poliskin of Darco Capital, investor and advisor to the brand.

To learn more about Neutral, please visit: https://www.eatneutral.com/.  

About Neutral Foods
Neutral Foods, the first carbon neutral food company in the United States, offers carbon neutral dairy products nationwide. Started in 2019 in Portland, Oregon, Neutral is a national brand that works directly with farmers to reduce the carbon footprint of dairy products, for good. From milk to cream to half & half, Neutral has organic and conventional carbon neutral solutions for retail, foodservice and ingredient needs. Global agriculture production makes up nearly 37% of all global emissions, and Neutral was founded to radically reduce that. Neutral measures the complete carbon footprint of each carton of milk—from the farm to the truck, to the fridge at home and beyond—and works with farmers on strategies to reduce the carbon intensity of their operations, and their dairy products are made 100% carbon neutral by using carbon offsets from dairy farmers who turn cow emissions into green energy.

About Break­through Ener­gy Ven­tures
Backed by many of the world's top business leaders, Breakthrough Energy Ventures (BEV) invests in cutting-edge companies that will lead the world to net-zero emissions. BEV has more than $2 billion in committed capital to support bold entrepreneurs building companies that can significantly reduce emissions from agriculture, buildings, electricity, manufacturing, and transportation. BEV's strategy links government-funded research and patient, risk-tolerant capital to bring transformative clean energy innovations to market as quickly as possible.

The first fund was created in 2016 as part of the Breakthrough Energy network of initiatives and entities, which include investment funds, non-profit and philanthropic programs, and policy efforts linked by a shared commitment to scale the technologies needed to address climate change and achieve a path to net zero emissions by 2050. Visit www.breakthroughenergy.org to learn more.

Contact: Kavita Patel, [email protected], 5124310462

SOURCE Neutral

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