The Growhub Innovations Company Announces Joint Project with Koufuku Group to Explore Asean Market Penetration

SINGAPORE, Sept 3, 2022 - (ACN Newswire) - The GrowHub Innovations Company ("The GrowHub"), Asia Pacific's only Web3-enabled plug-and-play ecosystem builder for food traceability and carbon credits, and KOUFUKU GROUP, a Japanese food company with over 50 years of history, have signed an MoU partnership for a joint project on market penetration using The GrowHub's proprietary Web3 technology.

This partnership will further enhance Japan's food traceability for Japanese consumers by enabling access to blockchain-driven technology solutions. The GrowHub's Web3 technology provides food manufacturers with an evidence-based understanding of the conditions necessary for market penetration of their products in the ASEAN market. In addition, GrowHub can also help food companies meet market penetration requirements.

Dr. Daiki Nakaoka, the Country Head of GrowHub Japan, said, "The ASEAN market, which is expected to grow significantly, is attractive to many food manufacturers. However, the question and challenge of whether and how to gain acceptance of their products in that market is always a hurdle that is not low for food manufacturers to expand. This project would be one example that GrowHub's unique Web3 technology demonstrates it can answer such questions to the food manufacturers and help them solve such challenges.

To ensure safety, provenance and traceability, GrowHub uses a proprietary blockchain-enabled technology platform that provides rich data-driven insights to agrifood producers and third-party solution providers by allowing partners to integrate directly into an existing system through GrowHub APIs. The information recorded on the blockchain is secure and non-reversible giving true transparency to the ecosystem.

About The GrowHub Innovations Company

The GrowHub Innovations Company ( www.thegrowhub.co ) is Asia Pacific's only Web 3-enabled technology plug-and-play ecosystem builder focusing on food traceability and carbon credits. The GrowHub has strong and exclusive relations with the government bodies in Western Australia and Singapore - Food Innovation Precinct Western Australia (FIPWA) and PEEL Development, Shire of Murray. Currently in eight markets across Australia and Asia Pacific, The GrowHub offers access to trusted premium products at affordable rates through the development of new agri-food and blockchain technologies emerging from our innovation centre at FIPWA. With the capital, network and expertise, we use technology to improve the experience of "farm-to-fork". From crunching data to enable producers to improve yields, to leveraging statistics to enable better transportation of produce, to the information on the quality of food you pay for at the table, our blockchain technology allows for full food traceability across the supply chain - so that you can trust in the food you eat.

About KOUFUKU GROUP

KOUFUKU GROUP was founded in 1968 as a rice shop and has been supporting food, beauty, and health in Japan for more than 50 years. Amidst growing social awareness of food safety and security, we have been aiming to create new value as a manufacturer that consistently provides delicious and safe food products, supports consumers' eating habits, and maximizes the any further potential of food products. Furthermore, we also engages in businesses that focus on the happiness and future of people by developing high-quality health and beauty products and researching biomass for the beauty and health as well as the creation of a sustainable society. Under the corporate identity of "Science Materials and Create Happiness," our business activities aim to realize a sustainable society, an extension of healthy life expectancy, a beautiful and glowing lifestyle, a safe and renewable food distribution, and carbon neutrality by the year 2030.

To find out more about GrowHub please visit: https://thegrowhub.co/

For Media Enquires, Please Contact:
PRecious Communications for GrowHub
growhub@preciouscomms.com

View article at https://www.bloomberg.com/press-releases/2022-09-02/growhub-announces-joint-project-with-koufuku-group