Core Insights - Freshr Sustainable Technologies has entered a joint development agreement with Mitsubishi Chemical Corporation (MCC) to enhance its packaging technology, which aligns with MCC's KAITEKI Vision 35 strategy focused on sustainability and innovation [1][4] - The partnership aims to address the significant economic and environmental impacts of food waste, which costs $2.6 trillion annually and contributes to 10% of global greenhouse gas emissions [2][3] - Freshr has developed the FreshrPack coating that extends the shelf life of fresh proteins by preventing bacterial growth, thereby reducing food waste [3][5] Company Developments - MCC has invested in Freshr to scale up its technology and support its global growth [1][4] - Freshr's CEO highlighted the partnership as a reflection of MCC's commitment to innovation and sustainability, aiming for scalable, science-backed solutions to reduce food waste [2][5] - The partnership is expected to leverage MCC's global expertise to effectively utilize Freshr's technology in addressing food waste issues [3] Market Context - Japan produces 4.64 million tonnes of food waste annually, indicating a significant market for solutions like Freshr's technology [2] - The investment round for Freshr was described as "oversubscribed," indicating strong investor interest and confidence in the company's potential [3]