High-Value Ingredients from the Kiwifruit Waste
New Company Develops Innovative, High-Value Ingredients from the Kiwifruit Waste
5 November 2007
Research suggests that consuming Kiwifruit as part of one’s daily diet can confer a variety of health benefits, but unfortunately much of the kiwifruit’s greatest potential, remains in the components of the fruit that are either uneaten or undigested.
A new Kiwifruit company called Kiwifruit Extract Ventures Ltd (KEVL) based in Auckland, New Zealand, has demonstrated the commercial feasibility of unlocking the kiwifruit’s true potential.
Established by two Auckland businessmen, David Lowry and Simon Spratt early in 2006, KEVL has quickly developed a reputation for product innovation on the global stage.
“Our first product was a Kiwifruit Omega-3 Oil, which contains one of the highest known natural sources of omega-3 fatty acids in the form of alpha-linolenic acid (ALA)” said David Lowry, Chairman and Executive Director of KEVL. “It’s a great product and is highly regarded by cosmetic manufacturers in Europe and the United States. We have just sold 500 kgs of this high value oil to well known French company with the understanding that a long term supply agreement will be entered into.”
While oil extraction from kiwifruit seed represents a valuable income stream for KEVL, the breakthrough came when KEVL joined forces with industry skincare consultant, Grant Washington-Smith who had recently returned to New Zealand after working in the United States.
“We all thought that the Kiwifruit Omega-3 Oil was “end-game” for us” said Simon Spratt, Chief Executive Officer of KEVL, “We have been travelling around the world and talking with prospective customers for over two years about our high value Kiwi Omega-3 oil, but it was Grant Washington-Smith that convinced us to take closer look at other specific bioactive components of the kiwifruit.”
“We discovered a range of powerful antioxidants in the undigested parts of the kiwifruit that appear many times more potent than green tea and equal to the most powerful antioxidant ingredients on the market today, but that wasn’t the end of the story“ said Spratt. “Further studies have demonstrated the outstanding benefits that kiwifruit extract has on skin”.
“Studies have shown that kiwifruit extract improves skin radiance, reduces the appearance of fine lines reduces dark circles under eyes.” Spratt said “and that’s why KEVL is currently in substantive discussions with a major international cosmetic company.”
KEVL would not be drawn on the specific detail of this commercial relationship, except that it related to a multi-year licensing agreement around recently filed, patent applications for kiwifruit extracts.
Recent market indications shows that the annual growth rate anti-aging ingredients ranges from 10-15% annually, with greatest demand expected out of Europe over the next 5 years and so the company has created security around its raw material supply line and expects to invest in further production capital, over the next two years.