ThermaFreeze Products Corp. (Pink Sheets: TFZP), supplier of perishable goods, ranging from strawberries to chemicals, has developed a solution to reduce the amount of wasted goods in the supply chain – a product that keeps materials frosty for the long haul.According to the company, there has been concern regarding the inadequate temperature management in the “cold chain” that can result in the lowered quality and safety of food products. As the chain from production to delivery of these products lengthens, the safety of the food may be at risk. The company said the average food product travels hundreds, sometimes thousands of miles before it reaches its destination, be it roadside fruit stand, your kitchen table, or supermarket shelf.
The “cold chain” is any supply chain containing temperature sensitive material or perishables. This can be foods, chemicals, pharmaceuticals and more.
“For suppliers of temperature-sensitive goods, a properly functioning cold chain is critical to the successful sale of their product. By law, manufacturers have to ship products at a certain temperature, and that temperature has to be maintained throughout the supply chain to the point where the customer receives it. A failure at any point in the cold chain can lead to losses, product returns and extra freight costs,” the company said in a press release.
Recognizing the time issue, ThermaFreeze has developed a solution to reduce the loss and damage of up to 35 percent of perishable goods. The solution comes in the form of a thin-wall, low-weight packaging material offering ultra-high thermal protection.
The packages can be used without restriction and are applicable to all perishable goods as well as pharmaceutical items and differ from previous cooling methods which can make the products heavier and larger to ship – resulting in higher delivery costs.
The company reports that the food industry loses over $33 billion each year due to “failures” in cold chain delivery. Its solution to those losses is applicable to companies and organizations such as airlines, logistics and produce companies.
Shares of ThermaFreeze up slightly, reaching 33 cents in afternoon trading.