- "We use food to preserve food," Apeel Sciences CEO James Rogers tells CNBC's Jim Cramer.
- Kroger recently started selling avocados sprayed with Apeel's protective shield that slows the ripening process.
- "When someone walks into one of their stores, they're able to pick up an Apeel avocado and get something that is going to be better for them, better for their family and better for the planet," Rogers says.
Apeel Sciences is trying to save your fruit, save grocery stores money and, ultimately, do its part to save the planet.
That is, at least, the message that CEO and co-founder James Rogers laid out to CNBC's Jim Cramer on Wednesday.
"We use food to preserve food," Rogers said in a "Mad Money" interview. "What Kroger gets out of this is when someone walks into one of their stores, they're able to pick up an Apeel avocado and get something that is going to be better for them, better for their family and better for the planet."
Rogers was referring to a key partnership that recently launched nationwide between the Goleta, California-based company and the nation's largest supermarket chain: avocados that have been sprayed with Apeel's food-preserving substance are now sold at Kroger.
Apeel's avocados take about twice as long to spoil, Rogers told Cramer. They also are sold at Costco.
"If we can even make the slightest dent in this, it's a huge business," Rogers said.
To make that dent, Apeel sought to create a product to extend the shelf life of fruits and vegetables, giving consumers more time to eat them before they turn rotten. It does so by putting a protective shield on the fruits and vegetables, Rogers explained.
Apeel's product is created from plant materials that remain on farms, such as leaves and peels. They are blended and, eventually, become a liquid that is applied to the produce.
By coating the fruit and vegetables in the substance, the rate of water loss and oxidation — the main causes of spoilage — is reduced.
The result is reducing waste found on the farm "all the way to people's tables," Rogers explained.
Apeel's innovations also can have an impact in the developing world, Rogers said. In many areas, Rogers said people do not the ability to refrigerate food, which is the leading way the developed world preserves food.
Beyond avocados, Apeel is working on developing a similar product for lemons, limes and asparagus.
Rogers said Apeel has big plans to continue expanding its relationships with grocers around the world. At the same time, Rogers said Apeel won't increase costs for consumers.
"Because there's so much waste in the system today, we're able to reduce the amount of waste at the store to an extent that grocers can pay us to apply the product and they're actually able to maintain their cost or reduce it," Rogers said.