News | July 26, 2018

Costco Wholesale Selects Zest Fresh To Enhance Its Fresh Food Supply Chain

Recognized Leader in Warehouse Clubs Partners with Zest Labs to Gain Insights into Its Fresh Food Supply Chain

San Jose, CA (GLOBE NEWSWIRE) - Zest Labs™, an AgTech company modernizing the post-harvest fresh food supply chain, today announced that it is working with Costco Wholesale. Costco is utilizing the Zest Fresh™ solution to further define and verify best practices that ensure delivered freshness for their produce and provide end-to-end fresh food supply chain visibility. Zest Fresh helps reduce waste, which further enables Costco to maintain its low prices on fresh food. Costco Wholesale is a multi-billion-dollar global retailer with warehouse club operations in eleven countries. Zest Labs is a wholly-owned subsidiary of Ecoark Holdings, Inc. (OTCQX:ZEST), to be renamed Zest Technologies, Inc.

Costco Wholesale is currently working with Zest Labs to optimize delivered freshness of produce from suppliers in California to warehouses on the west and east coasts. Initial work is underway to provide analytic insights about their supply chain to help better manage freshness.

“Costco Wholesale is a pioneer in the retail industry and we’re thrilled to be working with them to help improve the delivered freshness of produce for their members,” said Peter Mehring, CEO of Zest Labs. “Zest Fresh helps to proactively manage the fresh food supply chain to maximize delivered shelf life, reduce store waste by 50 percent or more and deliver value that drives customer satisfaction.”

About Zest Labs
Zest Labs, a subsidiary of Ecoark Holdings, Inc., provides a growing suite of freshness management solutions that substantially improve quality consistency and drive sustainability for a wide range of clients. Zest Labs provides solutions to modernize the existing food distribution and delivery system by significantly increasing efficiency through continuous condition monitoring and real-time prescriptive analytics. To learn more about Zest Labs, please click here. To watch a video about Zest Fresh, please click here.

About Costco Wholesale
Costco Wholesale (Nasdaq:COST) is a multi-billion dollar global retailer with warehouse club operations in eleven countries. The company is dedicated to bringing its members the best possible prices on quality brand-name merchandise. With hundreds of locations worldwide, Costco provides a wide selection of merchandise, plus the convenience of specialty departments and exclusive member services, all designed to make the shopping experience a pleasurable one.

About Ecoark Holdings Inc.
Founded in 2011, Ecoark is an AgTech company modernizing the post-harvest fresh food supply chain for a wide range of organizations including growers, distributors and retailers. The company's Zest Fresh™ solution, a breakthrough approach to quality management of post-harvest fresh food, is specifically designed to help substantially reduce the $161 billion amount of food loss the U.S. experiences each year. Through item-level monitoring and real-time predictive analytics, Zest Fresh enables customers to improve the freshness and quality of produce, realize substantial cost savings and reduce food waste. To learn more about Zest Fresh click here.

Forward Looking Statements
This release contains forward-looking statements, including, without limitation, statements concerning the business and possible or assumed future results of operations of Zest Labs; and statements concerning the ability of Zest Labs’ technology to improve delivered quality consistency, significantly reduce perishable food waste, drive sustainability, and increase efficiency in the industry. Our actual results could differ materially from those anticipated in the forward-looking statements for many reasons including: access to growth capital on favorable terms; adverse economic changes affecting markets we serve; competition in our markets and industry segments; our timing and the profitability of entering new markets; greater than expected costs, customer acceptance of our products or difficulties related to our integration of the businesses we may acquire; and other risks and uncertainties as may be detailed from time to time in our public announcements and SEC filings. Although we believe the expectations reflected in the forward-looking statements are reasonable, they relate only to events as of the date on which the statements are made, and our future results, levels of activity, performance or achievements may not meet these expectations. We do not intend to update any of the forward-looking statements after the date of this document to conform these statements to actual results or to changes in our expectations, except as required by law.

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SOURCE: Ecoark Holdings, Inc.