ALTR: Using Nanotech To Help Neutralize Alcohol for Sober-Curious Consumers
Joyance invests in companies that cultivate joy through science and tech to improve the way we live. So naturally, our recent investment in ALTR, a company that uses cutting-edge nanotechnology to remove alcohol, is a perfect fit. ALTR’s approach is to work with existing beverage companies to reduce or remove alcohol from their products, including beer, wine, and liquor. With the global alcohol market valued at over $1.6 Trillion, and the low/no alcohol market predicted to reach $39.4 Billion by 2031, ALTR has some clear tailwinds.
The existing methods for reducing alcohol content, whether by limiting ethanol generation during production or extracting ethanol post-production, are usually associated with loss in flavor and nutritional compounds, compromising the taste and scent profile of the beverage. Obviously, this limits the capacity for acceptance by the modern consumer — who wants to replace their delicious beverage of choice with a sub-par substitute? The current ethanol removal process of high-pressure filtration also requires significant energy expenditures and consequently has a relatively high environmental impact. But when in market, ALTR’s nanotechnology will provide a groundbreaking solution, eliminating ethanol with low impact on flavor and aroma while maintaining an energy-efficient process.
We have great confidence in the ALTR team: CEO Richard Schatzberger has always been at the forefront of technology, creating the first color and camera phones at Motorola, leading to working with the startups that developed Siri and Bixby virtual assistants (acquired by Apple and Samsung, respectively). He co-founded Co:Collective, a brand strategy consultancy, and after becoming a non-drinker himself, Richard, along with his co-founder Daron Hollowell, a multi-talented entrepreneur, creative, and producer with over 30 years of experience in entertainment, sales, and marketing, founded ALTR. Surrounding themselves with the best technological experts in this field, they are building a business poised to define the next generation of sober, curious consumers.
Imagine sipping your favorite cocktail, seasonal ale, or fine wine with a much lower alcohol content but without compromising on taste and experience. What could be more attuned to our core thesis of improving everyday life in healthy, joyful ways?
By Investment Partner Claire Cherry and Associate Yang Chen
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