Bay Point Advisors Funds $10 Million Line of Credit to Reveam
June 22, 2022
ATLANTA–(BUSINESS WIRE)–Bay Point Advisors has provided a $10 million line of credit to Reveam, formerly ScanTech Sciences. This is a follow-on transaction to a $5 million term loan provided in 2019. Reveam recently received USDA certification at its McAllen, TX facility for use of its proprietary Electronic Cold-Pasteurization™ (ECP)™ technology to treat fruit and produce flowing through Texas border crossings along the Rio Grande Valley. This chemical-free, heat-free process eliminates harmful pests and deadly pathogens while extending shelf life at the peak of freshness.
Reveam CEO Dwayne House said the certification represents the next stage in the company’s growth. “Achieving USDA certification is a credit to all members of the team who have dedicated so many hours to the pursuit of safer and better tasting fresh fruit and produce. I’m proud of the pioneering work our team and technology has achieved and look forward to a safer, healthier and more sustainable future. Now is the time to scale our commercial operations and accelerate growth.”
“We are excited to support Reveam as they commence commercial operations,” said Mitchell Dagley of Bay Point Advisors. “We believe this technology will replace dangerous chemicals and outdated treatment methods in treating fruits and produce crossing the US-Mexico border.”
Reveam is dedicated to replacing dangerous chemicals and outdated treatment methods by providing a proprietary solution to the food industry and beyond. Operating out of its Atlanta, GA headquarters and Rio Grande Valley, TX Electronic Cold-Pasteurization™ (ECP™) processing facility, the company works with growers, customs brokers, wholesalers, distributors, food service providers and retailers to improve safety and quality across the produce supply chain. Patented ECP™ and comprehensive logistics services enable Reveam to eliminate harmful pests, extend product shelf-life, enhance fresh food taste and appearance and reduce compliance costs.
Learn more at: www.reveam.com
Bay Point Advisors
About Bay Point Advisors
Established in 2012, Bay Point Advisors LLC is a privately held firm based in Atlanta, Georgia specializing in customized, secured lending solutions across real estate and other industries, including entertainment, aviation, and natural resources. Since its inception, Bay Point Advisors has originated over $1 billion of privately negotiated loans.