Crunchfish exits Food Waste business
Crunchfish’s business area Food Waste was based on a granted Swedish patent. The patent has been challenged and after careful analysis, Crunchfish has concluded that the patent will not stand and that a potentially modified patent will not be sufficient to build the business. Crunchfish has therefore decided to exit its operations in the Food Waste segment.
Crunchfish is increasingly focusing on Digital Cash and with the conclusion that the granted patent within food waste will not stand and that a potentially modified patent will not be sufficiently broad to build a viable business, Crunchfish has decided to exit Food Waste business segment.
As a consequence, Linda Kronby, CEO of Crunchfish Food Waste AB and CEO Blippit AB, will leave the company by the end of November. Patrik Lindeberg, CEO of Crunchfish Digital Cash AB, will assume the role as CEO of Blippit AB after this period.
”After careful analysis we have concluded that it will be difficult to build a viable business in the food waste area as our patent right will not stand as granted. A decision to exit this business is therefore best for the company as we are increasingly focusing on Digital Cash. I want to thank Linda Kronby for her contributions and wish her all the best for her future career.”, says Joachim Samuelsson, CEO of Crunchfish.
For more information, please contact:
Joachim Samuelsson, CEO of Crunchfish AB
+46 708 46 47 88
Erik Berggren, IR Manager
+46 726 011 673
Västra Hamnen Corporate Finance AB is the Certified Adviser. Email: email@example.com. Telephone +46 40 200 250.
About Crunchfish – crunchfish.com/digitalcash
Crunchfish is a technical pioneer in Digital Cash payments, with a two-step payment process, first clearing offline followed by online settlement. Crunchfish also has businesses in Food Waste and Gesture Interaction. Crunchfish is listed on Nasdaq First North Growth Market since 2016, with headquarters in Malmö, Sweden and with representation in India.