Persea Naturals LLC was formed on July 6, 2016 in the State of Pennsylvania.
Persea Naturals LLC has funded its start-up through grants and awards, and anticipates additional funding through SBIR grants.
Persea Naturals is currently staffed by the equity owners, but anticipates the hiring of additional staff in 2017 to advance AvoColor® and develop new colors.
Persea Naturals maintains an independent laboratory and initial production facility at Penn State University’s Innovation Park complex (www.innovationpark.psu.edu), benefiting from the shared resources, including the new business transition personnel of Ben Franklin Technology Partners (benfranklin.org/).
The global natural food color additive market accounted for US$1.14bn in terms of value in 2014, and is projected to reach US$1.6bn by 2020.
Unlike AvoColor®, many current natural colors lack stability due to light, heat, pH, or oxygen. Some products are not Halal or Kosher, while some require cold storage or have limited shelf life. Unlike most carotenoids, AvoColor® is water-soluble, and unlike anthocyanins relatively pH insensitive.
Persea Naturals has secured a significant source of raw material.