Friday 21 June 2024
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Wave Investments bets on Bkon transforming the future of cold brew

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PHILADELPHIA, U.S. – BKON®, a pioneering beverage technology company, announces partnership with WAVE Investments GmbH — a newly formed private equity group, uniquely focused on advancing the growth of companies within the Global Specialty Coffee segment.

Having spent the past four years working to commercialize the BKON Craft Brewer™, and receiving four awarded patents in the process, BKON unveiled its next innovation, the Storm™, at the 2017 SCA (Specialty Coffee Association) event.

This new industrial scale, RAIN™ (Reverse Atmospheric Infusion®) powered system allows roasters to finally access the flavors of a coffee’s varietal and terroir, while using ambient or cold water to produce cold brew with extraction capabilities previously limited to their hot brewed coffee offerings.

Additionally, the Storm™ improves coffee cost savings by up to 50% while increasing the speed of cold brew production by 80X, without a proportional increase in labor, overhead or capital costs.

WAVE Investments is an industry first as a private equity firm solely focused on “specialty” coffee investments, comprising multiple entrepreneurs who successfully founded, industrialized, and scaled industry leading companies.

Although BKON before had raised $2.5 million dollars from a group of private investors, which included Chris Lowe, former President of Coca-Cola’s Foodservice Division, the company recognized the unique value of the WAVE Group to emerging companies like their own.

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In less than 60 days, the two companies forged a partnership that included an additional $1M investment to help accelerate BKON’s plans. In addition to the WAVE investment, Nils Erichsen joined BKON’s board of directors.

“As someone who has evaluated and participated many new coffee innovations, I feel BKON’s strategic direction and transformative RAIN process represent the truest example of a disruptive technology for the coffee and tea industry,” says Nils Erichsen.

“BKON has taken a very effective and disciplined approach to get where they are today, and WAVE could not be keener on helping them advance to the next level and beyond.”

As a norm to the design of BKON’s board of directors, Nils is playing a highly active role in bringing his experience and relationships to bear for the successful launch of BKON’s new Storm business platform, the opening of their own RAINCRAFT facility, and helping the company commercialize new channels, such as home appliances.

“We are both humbled and inspired by Nils’ energy, skills and experience,” says Dean Vastardis, who co-founded BKON with brother, Lou Vastardis. “We could not be more excited by WAVE’s involvement in helping us achieve our vision and become a global company.”

ABOUT BKON®

BKON® is a beverage technology company dedicated to elevating and innovating how consumers experience the Earth’s purest and most enjoyable flavors through the use of RAIN™ (Reverse Atmospheric Infusion®).

Regardless of how a beverage is brewed, the air and gases within the pores of the organic material need to be displaced before liquid can enter the material, and the flavors are extracted.

By controlling the depth, duration and frequency of vacuum pressure, RAIN™ removes the air or gases from various organic ingredients to enhance flavor outcomes, and innovate entirely new beverage categories, while circumventing the limitations of heat, agitation or force.

The company’s first RAIN-powered product, the BKON Craft Brewer, received the coveted “Product of the Year” award in 2014 by the Specialty Coffee Association. It was also named “Best New Product” at the World Tea Expo 2013 and was awarded the 2014 “Kitchen Innovations Award” at the National Restaurant Association Show.

PATENTS (Awarded): 8,383,180; 8,586,117; 9,295,358; 9,402,405

PATENTS (Pending): 13/749,436; 15/080,671; 14/499,924; 62/409,268; 15/121,588

INTERNATIONAL COVERAGE: EU, India, Japan and South Korea

To learn more visit: http://www.bkonbrew.com

ABOUT WAVE INVESTMENTS

WAVE Investments GmbH, based in Hamburg/Germany is a privately funded investment group focused on helping scalable businesses in the global specialty coffee segment achieve their greatest potential.

Unique to WAVE, the leadership team comprises multiple entrepreneurs, who successfully founded, industrialized, and scaled leading companies within the coffee industry.

WAVE’s CEO, Nils Erichsen, is the former Founding Partner and CEO of Hemro-Group (world’s leading coffee grinding technology firm), Director of Probat Group (global market leader in coffee roasting and industrial grinding equipment), and a Director of the Specialty Coffee Association.

In addition to its deep coffee knowledge base, the WAVE team brings decades of experience and expertise in private equity.

The firm is primarily focused on investments in equipment manufacturers, specialty coffee roasters, coffee-driven foodservice operators and other emerging coffee-related innovations, with a mandate of playing an active role as a shareholder. WAVE has access to significant networks of private capital sources, regards itself as reliable, long-term partner.

To learn more visit: http://www.wave-investments.com.

CIMBALI

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