Newly launched Do Good Foods raises $169M to turn food waste into animal feed

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Do Good Foods, a newly launched company formed to turn upcycled food waste into feed for animals intended for human consumption, has started operations backed by $169 million from asset manager Nuveen.

The company has built a production facility in Fairless Hills, Pennsylvania, capable of processing 160 tons of excess food from about 450 grocery stores per day.

Do Good Foods expects to introduce its first product, Do Good Chicken, in supermarkets as well as restaurants and other foodservice locations in the United States early next year.