Scottish company Insignia Technologies has received £865,000 investment to help it trial a new smart label that could have a huge impact on the amount of food sent to landfill.
Insignia’s smart pigments and inks change colour when exposed to various gases or UV light, which means that it can develop a label that shows how long a packet of food has been open and when the food should be consumed.
The label, initially aimed at food production and processing, will show brown for ‘just opened’, orange for ‘use soon’ and purple for ‘past best’.
Research is underway to develop similar systems for healthcare, cosmetics and pharmaceutical. .
The funding package was led by Equity Gap, supported by Highland Venture Capital, the Scottish Investment Bank, Strathclyde University and private investors.
It will be used to develop commercial trials with supermarkets in the UK, Europe and US.
Insignia Technologies chief executive David Kilshaw said: “The recent investment provides Insignia with the opportunity to continue to grow our existing customer base, move forward with customer trials in the UK, US and Europe, driving the business towards commercialisation and positive cash flow.
“As importantly, the investment provides the necessary funding to drive the development programme being carried out by our technical team, both with regards to the existing technologies, as well as future research projects.”
Highland Venture Capital chairman Iain Scott said: “The recent press activity on the food wastage around supermarket foods draws into sharp focus the need and opportunity for a product like this.”
In 2012, intelligent inks business Insigniapack and University of Strathclyde spin-out company Nova Technologies were merged to form Insignia Technologies.