Periodic Reporting for period 1 - LIQUAM (Non-thermal treatment to delay the onset of honey crystallization) Reporting period: 2015-03-01 to 2015-08-31 Summary of the context and overall objectives of the project The goal of this SME Instrument Phase 1 was to carry out a Feasibility Study to assess operational, technological and economic viability of a non-thermal alternative for honey processing based on High Power Ultrasound technology with the aim of replace current pasteurization process. A secondary objective was to elaborate a Business Plan to define the business growth, sustainability, exploitation strategies and tactics to follow paving the way to market. Work performed from the beginning of the project to the end of the period covered by the report and main results achieved so far First we carried out a market assessment proving that our solution solves a real problem for honey packers. To this end, market size, market forecast, market segments, market drivers and barriers, penetration rates, competitors, opportunities and recommendations on strategies and positioning were studied. Then, based on this market assessment we carried out a technological feasibility study proving that our solution can be scaled-up and customized to the particular honey production rate of each particular honey packer. To this end, Cost-Benefit Analysis, payback period for each market segment and retail price of our solution were studied. Based on the market assessment we also carried out an economic feasibility to estimate revenue projection proving the profitability of this new business venture. Feasibility Study was completed with positive results so a complete Business Plan was elaborated including operational and financial plan, risks study (technical and business related), IPR issues assessment and potential exploitation routes to reach European market. Progress beyond the state of the art and expected potential impact (including the socio-economic impact and the wider societal implications of the project so far) The output of the current action demonstrate that our technology represents a real break-through in the honey sector by changing the way honey is processed worldwide. The benefits of our technology are twofold. First, delay the onset of honey crystallization as pasteurization but retaining the quality attributes and freshness of raw honey. Second, results on energy saving due to is a process more efficient than pasteurization. Crystallized honey
