ArcticRX Named 2023 Innovative Small Business of the Year

When food and medicine need to be transported using cold storage, the process leads to waste which exceeds 50% in many countries. Shane Bivens and Stuart Lowry co-founded ChefsFridge Co. (which evolved to ArcticRx) to help solve this problem, eliminating waste in cold-chain transport caused by temperature excursion. “Our research when creating ArcticRx focused on enhancing ultra-low transport and storage shelf life for medical and temperature-sensitive products,” explained Stuart Lowry. “Commercial applications range from frozen food, pharma, biologics, agricultural products, and medical/health product transport and storage.” The Indiana Economic Development Corporation (IEDC) recognized ArcticRx as the state’s Innovative Small Business of the Year for 2023. “A homegrown Hoosier company combining thermal engineering and refrigeration industry expertise, ArcticRx champions food and health equality with the most innovative passive cold-chain product in the last 50 years,” the IEDC’s release stated. Shane and Stuart are grateful for the support and resources they received from the East Central Indiana Small Business Development Center (SBDC). These resources helped them to launch and grow their successful business. Through the East Central Indiana SBDC, they tapped into the state’s IN-STEP program and Export Indiana Accelerator Program. “One of the most important aspects of starting a business is having champions to navigate the formation processes, awareness, marketing, and fostering connections. Karen and her team are some of our most fervent cheerleaders and supporters as we work to make our company an Indiana success story,” Stuart shared. “The SBDC is a great resource and continues to keep us apprised of opportunities, whether they are for grants, contacts, programs, accolades, or potential markets and clients.” ArcticRx is proud to be an all-Indiana team, with its founders, designers, and build-out and testing professionals residing in Central Indiana. Dr. Lisa Hoverman through Elevate Ventures served as the “matchmaker” who pulled together the collaborative pieces of the endeavor. “The Indiana ecosystem of collaboration and high skilled State talent is deep. ‘Made in Indiana’ is an easy stamp for ArcticRx,” expressed Shane Bivens. “We are ready to scale ArcticRx thanks to our Indiana manufacturing teams; Jeco Plastics and Markleville Pallets & More. Their input has been vital around final design and prototype construction.” The founders refer to ArcticRx as a world-changing product. There are no other 21+ days passive, temperature stable transport/storage products with embedded technology that can last for years. The ArcticRx team is just weeks away from heading to Australia as part of an Indiana delegation to the Global Entrepreneurship Congress. They will showcase ArcticRx and make global connections, demonstrating the innovation and energy of an Indiana co-founding team. Stuart sees a bright future for the company: “As for the future, there is nothing we can’t move, so just think of anything that is temperature sensitive on the planet that you want to bring to Indiana, and ArcticRx can make it happen! We took on the challenge of starting this business to save lives, create opportunities for business not in existence today, and shape a better world with a product both greener and cooler than anything else on the planet.” To learn more about ArcticRx, visit

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