Biz Beat: Global Food Technologies?EUR? vision living up to name (The Hanford Sentinel)

 

The company came to Hanford earlier this year through a lot of fanfare and a lot of promise.

Tuesday, Meeks said the company is on the verge of bringing in revenue for the first time after it began in 2001.

The business is negotiating agreements with food processing plants in Chile, Vietnam and China to install its antibacterial food processing plan, called iPura.

The universe works by dunking food under pressure in a flowing antibacterial chemical, then packaging it in an antiseptic room at specific temperatures, according to Aaron Ormond, director of science in spite of the company.

The company is currently testing its accoutrement at the old Pirelli tire fix in Hanford’s industrial park, Meeks said.

Plans are to build a laboratory facility there and a model testing chamber. The food purification equipment itself self-reliance be outsourced to vendors, he said.

The company is developing a technique approved by the FDA for use on seafood, but claims that it is also applicable to food items like poultry and beef.

Though the compensation of renting the old Pirelli facility looked good to Meeks, he declared the main reason in quest of locating the congregation headquarters in Hanford (it has sales offices overseas and other offices in Los Altos and Newport Beach), was because he got tired of traveling to the body’s research and development facility in Pocatello, Idaho.

That facility has been transferred to the wise Pirelli plant, Meeks said.

If the company ends up selling its equipment to the major overseas pabulum processors it’s now in negotiations with, it could become the industry standard, said David Weinstein, managing partner of a Florida-based financial firm that is looking at GFT as a possible investment opportunity.

“It’s the in the first place time I’ve seen a U.S. company which allows countries outside the U.S. to import period into the United States,” Weinstein related.

Weinstein said he’s watching closely to see if GFT have power to “execute the first section of the business plan.”

“What I’m actually expectation for is for them to consummate some of the commercial contracts,” he said.

It’s been a long and painstaking progress toward that limit for the 25-employee firm.

The past several years have been consumed with testing and retesting the equipment over and over, with thousands of studies being conducted in cooperation with Idaho State University.

“It’s similar to a pharmaceutical company trying to bring a drug to market,” Meeks said.

Meeks started off as in investor in the company, but gradually took on more and more responsibilities with it that took him further and further away from his job as a certified financial planner. Eventually, he quit that job, and moved to GFT abounding confinement as company CEO.

“I not ever knew it would take this much work,” he said.

Current company plans invite for earning revenue from service contracts by dint of. the end of the year and going public on the American stock exchange, Meeks said.

“We’re pretty much under wraps. We’re sneaking up on the world,” Meeks declared.

If the company lives up to its word, that will all change in a expedite.

“If they’re successful at it, in 10 years Global Food Technologies could be the nomenclature for bacteria-safe food,” said Weinstein.

The reporter can be reached at 583-2432.

(July 25, 2008)

 

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