Atomo's espresso grounds made from upcycled plant waste. Photo courtesy of Atomo Coffee
Atomo Coffee, a startup that makes coffee products from plant waste, is launching its new beanless espresso next week in Manhattan.
Why it matters: The coffee farming industry is one of the leading causes of deforestation in countries like Brazil and Indonesia.
Details: Gumption Coffee's Time Square shop will start selling Atomo-brewed espresso drinks every Tuesday starting Oct. 10.
- Atomo co-founder and CEO Andy Kleitsch, a former software entrepreneur, said the startup is only making enough of its espresso grounds right now to supply one coffee shop once a week, but plans to launch nationally in spring 2024.
- The company is building a factory to make 4 million pounds of its ground espresso a year and is ultimately planning on building another factory that can make 40 million pounds of its ground espresso per year.
- Founded in 2018, Seattle-based Atomo had previously been selling a canned cold brew product, but Kleitsch said earlier this year the company had a breakthrough in making its espresso grounds and has now focused the business on delivering that product.
Zoom in: Atomo has raised $50 million to date and is looking to raise a Series B round to grow its production capacity. Investors include S2G Ventures, AgFunder and Horizons Ventures.
- Atomo's beanless espresso is made from plant waste and superfoods like date pits, maya nuts, guava and lemon.
Big picture: While coffee bean farming is causing deforestation, it's also being affected by climate change.
- The number of habitable regions that can host coffee farms is shrinking as the temperature rises.
