Portuguese Condiments

Purchase of production equipment to allow the company’s growth

Investment overview

Impact category

Agrifood Systems

Investment type

Loan

Yearly interest

5.6

Term

months

Risk level

What will you be financing?

Bornoftwenty is a company created during Covid quarantine. Its founders wanted to produce condiments and other food products using traditional Portuguese flavors in a creative way and in line with food trends in Portugal and abroad. The Portuguese Condiment Company (PCC) brand was born to make and sell condiments, beverages, and other products under development.

The promoter imported organic seeds of exotic hot peppers that do not exist in Portugal to be planted and cultivated for the company at Quinta Vila Caíz, a small family-owned organic farm in the Amarante area, certified by Naturalfa. These seeds were imported from the United Kingdom, Australia, and the United States. Among the species, we can find Smokin’ Ed’s Carolina Reaper, one of the hottest species of peppers in the world, famous in the United States. The goal is not only to use these hot peppers as ingredients in new products but also to sell the peppers and their plants.

Quinta Vila Caís and the agricultural cooperative Orgânicos, to which they belong, are the suppliers of all fresh ingredients used, by the promoter, to make the condiments and drinks. These ingredients have organic certifications, but it is not possible to keep them after they have been handled and transformed.

At the moment approximately 60% of all ingredients are produced in Portugal. The promoter’s plan is to progressively increase this percentage. However, it will not be possible to reach 100%, since some spices, such as cinnamon, are not produced in Portugal. All the ingredients used, even the non-Portuguese ones, are bought from Portuguese companies that guarantee a sustainable production chain, and organic products and that follow the same care when choosing their partners. The supplier of powdered spices, who is not part of this cooperative, is certified by ECOcert.

PCC also intends to eventually become the producer of some of the ingredients that do not exist in Portugal, filling a market gap and seeking an opportunity to explore the commercial B2B and B2C possibilities of this activity.

The demand for diversified, unusual, and unique condiments has been growing exponentially both nationally and internationally. It is increasingly common for people to explore different recipes at home, and chefs, in signature restaurants, are also expanding the portfolio of differentiating elements in the dishes they create. The condiments produced by the Portuguese Condiment Company, therefore, respond to a growing trend in the market. It is also possible to observe an increasing demand for natural, non-alcoholic, and healthier beverages.

After an R&D phase focused on production processes and taste tests, PCC concluded the production of the first batch of products, which was done in an artisanal way. The owners now want to buy industrial equipment to optimize the production process for the next batches. The goal is to achieve more efficiency, and scalability and to create new products. The commercialization of the first batch will begin now, in September 2021, in the promoter's physical store, located in the city of Porto and in the online store currently under development.

In addition to selling its own products, the promoter invested in buying an inventory of other food products, produced by third parties, that fit the philosophy of sustainability and quality advocated by PCC. These will also be available for sale, both in its physical store and in the store online.

What is the impact?

Direct:

Sustainable Production and Consumption:The Portuguese Condiment Company is concerned with the packaging and distribution of its products. PCC is committed to using reusable and recyclable packaging to cause the least possible environmental impact. With each purchase, the client must leave a deposit for glass packaging, that should be returned. The glass containers will be given a new life when they are returned, and the customer will receive the deposit back. In addition to the reusable glass that will be used for hot sauces and shrubs, caps and lids are 100% recyclable aluminum. The spice powders will be packed in small aluminum containers, which are 100% recyclable and very light, reducing the carbon footprint of their transportation. Recycled paper and cardboard will also be used. As for labels, the goal is to use recycled paper and vegetable-based inks and glues, for the second batch and onwards.
Following the zero-waste movement, whenever possible, the promoter will use food waste from production for the development of derived products. Furthermore, zero waste practices will be promoted through workshops and talks to share knowledge and experiences in the physical store. The goal is to create incentives for partners and customers to practice zero waste. PCC also intends to work with all its suppliers, on their production and commercial processes, to reduce their ecological impact.

Indirect:

Promoting local economy: through synergies with local and regional producers, as well as other local economy agents in the areas of commerce, catering, tourism, leisure, and well-being. The promoter's goal is to buy all the ingredients to make their products, from small sustainable agriculture producers.
Promoting a healthy diet: by creating interesting and healthy products, exploring different flavors, promoting a more balanced diet, and contributing to the well-being of consumers. PCC wants to encourage healthier lifestyles through a pedagogical side, offering workshops and classes for consumers who want to cook at home with healthy quality products.

Impact indicators
‍

CO2 avoided per year

clean energy

created by our projects

of sustainable

impacted

Contribution to the Sustainable Development Goals
‍

About the Promoter

About

BORNOFTWENTY, LDA

Direct:

Sustainable Production and Consumption:The Portuguese Condiment Company is concerned with the packaging and distribution of its products. PCC is committed to using reusable and recyclable packaging to cause the least possible environmental impact. With each purchase, the client must leave a deposit for glass packaging, that should be returned. The glass containers will be given a new life when they are returned, and the customer will receive the deposit back. In addition to the reusable glass that will be used for hot sauces and shrubs, caps and lids are 100% recyclable aluminum. The spice powders will be packed in small aluminum containers, which are 100% recyclable and very light, reducing the carbon footprint of their transportation. Recycled paper and cardboard will also be used. As for labels, the goal is to use recycled paper and vegetable-based inks and glues, for the second batch and onwards.
Following the zero-waste movement, whenever possible, the promoter will use food waste from production for the development of derived products. Furthermore, zero waste practices will be promoted through workshops and talks to share knowledge and experiences in the physical store. The goal is to create incentives for partners and customers to practice zero waste. PCC also intends to work with all its suppliers, on their production and commercial processes, to reduce their ecological impact.

Indirect:

Promoting local economy: through synergies with local and regional producers, as well as other local economy agents in the areas of commerce, catering, tourism, leisure, and well-being. The promoter's goal is to buy all the ingredients to make their products, from small sustainable agriculture producers.
Promoting a healthy diet: by creating interesting and healthy products, exploring different flavors, promoting a more balanced diet, and contributing to the well-being of consumers. PCC wants to encourage healthier lifestyles through a pedagogical side, offering workshops and classes for consumers who want to cook at home with healthy quality products.

Promoter website

https://portuguesecondimentcompany.com/

Business Model
‍

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Suspendisse varius enim in eros elementum tristique. Duis cursus, mi quis viverra ornare, eros dolor interdum nulla, ut commodo diam libero vitae erat. Aenean faucibus nibh et justo cursus id rutrum lorem imperdiet. Nunc ut sem vitae risus tristique posuere.