Report

Teaser, summary, work performed and final results

Periodic Reporting for period 1 - Smart Cooking (Low energy, infrared oven for an improved automated cooking)

Teaser

The food service industry is expanding rapidly due to changes in lifestyle. Only in the EU the food service sector is made of 2 billion businesses, of which 90% are SMEs, directly employing 10.2 million people. Cooking is responsible for nearly 60% of the total energy costs of...

Summary

The food service industry is expanding rapidly due to changes in lifestyle. Only in the EU the food service sector is made of 2 billion businesses, of which 90% are SMEs, directly employing 10.2 million people. Cooking is responsible for nearly 60% of the total energy costs of a food service and 20% of a business’ annual energy is wasted through the use of inefficient equipment. Small restaurants need to cut down costs and optimise kitchen space and productivity in order to remain competitive in such a crowded market. The purpose of this feasibility study was to analyse the technical, financial, and commercial potentialities of Smart Cooking of fulfilling the need of small food services of energy-efficient and cost-effective cooking appliances.

Work performed

During this feasibility study we carried out a technical, financial and commercial analysis of Smart Cooking. A detailed technical plan for the implementation of the multi-cooker improvements was defined, identifying measures to mitigate potential risks and confirming the technical feasibility of the project. The commercial cooking equipment market and the food service industry were analysed to assess the feasibility of our commercial strategy. From this analysis it was concluded that Smart Cooking will satisfy the demand of energy-efficient cooking appliances that allow increased food quality and operational multifunctionality in our main target markets (Germany, UK, France, Spain and Italy). The financial projections elaborated confirmed that the project is viable from a financial point of view as the initial investment will be paid back in less than 3 years with cumulative profits over 5 years of over €12 million.

Final results

Smart Cooking will be the only technology on the market capable of cooking up to 3 different foods simultaneously, saving up to 60% of energy and up to 50% of time, increasing kitchen’s productivity by 30% and revenues by 40% through cooking time and food weight losses reduction. Our innovation will allow a revolutionary organisation of small commercial kitchens and the preparation of healthy food with a longer shelf time, hence reducing waste. We expect to obtain a turnover of €4.14 M by the 3rd year of commercialisation and contribute with 13 new positions to the EU economy.

Website & more info

More info: https://www.cb-italy.com/.