Investment & Fund Management
European Investment Fund Partner
Full Credential Description
In 2014, Jean Moreau transitioned from investment banking to establish Phenix, a Tech For Good enterprise in Paris aimed at addressing the significant issue of food waste. He highlighted that the amount of food wasted in France could feed approximately 10 million people, and emphasized the environmental impact of this waste, noting that one-third of all food produced globally is discarded. Phenix's innovative digital solution connects retailers with NGOs and charities to redistribute near-expiration food, primarily focusing on perishable items like fruits, vegetables, dairy, meat, and fish.
Initially, Phenix operated on a consumer-to-consumer (C2C) model, facilitating the sharing of leftover food. However, the company evolved to a business-to-business (B2B) model, creating a digital marketplace that matches food offers from retailers with demand from charities. They also introduced a business-to-consumer (B2C) mobile app, allowing consumers to purchase discounted products. Recently, Phenix expanded its services to include animal feeding, selling unsold fruits, vegetables, and stale bread to farms and zoos.
Phenix has achieved remarkable results, including reaching zero bio-waste in several major supermarkets in France. This initiative not only reduces costs but also generates additional revenue and tax credits, effectively transforming food waste from a cost center into a profit center. Since its inception, Phenix has saved 70 million meals, with a daily average of 120,000 meals saved in France alone. In October 2018, the company secured an equity investment from ETF Partners, a venture capital firm aligned with Phenix's environmental mission, enabling further expansion into the UK, Italy, and Germany, as well as deeper engagement with farmers and industrial sectors to capture waste earlier in the supply chain.