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In October 2022, the company announced a 10-year [[renewable natural gas]] (RNG) offtake agreement with [[BP|bp]] worth approximately $175 million.<ref>{{cite web|author=Vinoski, Jim|url=https://www.forbes.com/sites/jimvinoski/2022/10/19/with-new-bp-deal-divert-steps-175-million-closer-to-solving-the-wasted-food-problem/?sh=40370892a074|title=With New BP Deal, Divert Steps $175 Million Closer To Solving The Wasted Food Problem|publisher=[[Forbes]]|date=19 October 2022|accessdate=28 May 2024}}</ref> Under this agreement, bp will purchase RNG generated from three Divert facilities, which has the potential to offset 36,905 metric tons of carbon dioxide per year.<ref name="jax24"/>
In October 2022, the company announced a 10-year [[renewable natural gas]] (RNG) offtake agreement with [[BP|bp]] worth approximately $175 million.<ref>{{cite web|author=Vinoski, Jim|url=https://www.forbes.com/sites/jimvinoski/2022/10/19/with-new-bp-deal-divert-steps-175-million-closer-to-solving-the-wasted-food-problem/?sh=40370892a074|title=With New BP Deal, Divert Steps $175 Million Closer To Solving The Wasted Food Problem|publisher=[[Forbes]]|date=19 October 2022|accessdate=28 May 2024}}</ref> Under this agreement, bp will purchase RNG generated from three Divert facilities, which has the potential to offset 36,905 metric tons of carbon dioxide per year.<ref name="jax24"/>
By the end of 2022, the company expanded to more than 1,500 new retail stores,<ref>{{cite web|author=Perez, Miranda|url=https://www.builtinboston.com/2022/08/25/divert-boston-hiring-food-waste-management|title=Divert Is Actively Hiring Amid Growing Demand for Its Food Waste Tech|publisher=Builtinboston.com|date=25 August 2022|accessdate=28 May 2024}}</ref> bringing the total to nearly 5,400 retail stores with an additional 1,000 stores contracted for 2023.<ref>{{cite web|url=https://www.tmcnet.com/usubmit/-divert-inc-announces-transformative-1-billion-infrastructure-development-/2023/03/01/9768795.htm|title=Divert, Inc. Announces Transformative $1 Billion Infrastructure Development Agreement With Enbridge Inc., Solidifying its Leadership in Solving the Wasted Food Crisis|publisher=Tmcet.com|date=1 March 2023|accessdate=28 May 2024}}</ref>
By the end of 2022, the company expanded to more than 1,500 new retail stores,<ref>{{cite web|author=Perez, Miranda|url=https://www.builtinboston.com/2022/08/25/divert-boston-hiring-food-waste-management|title=Divert Is Actively Hiring Amid Growing Demand for Its Food Waste Tech|publisher=Builtinboston.com|date=25 August 2022|accessdate=28 May 2024}}</ref> bringing the total to nearly 5,400 retail stores with an additional 1,000 stores contracted for 2023.<ref>{{cite web|url=https://www.tmcnet.com/usubmit/-divert-inc-announces-transformative-1-billion-infrastructure-development-/2023/03/01/9768795.htm|title=Divert, Inc. Announces Transformative $1 Billion Infrastructure Development Agreement With Enbridge Inc., Solidifying its Leadership in Solving the Wasted Food Crisis|publisher=Tmcet.com|date=1 March 2023|accessdate=28 May 2024}}</ref>

In 2021, Divert was acquired by Ara Partners, a global private equity firm, specializing in industrial decarbonization investments. As a part of the acquisition, Divert received $100 million in growth equity led by Ara in conjunction with Singapore’s sovereign wealth fund, [[GIC (sovereign wealth fund)|GIC]], and [[Ontario Power Generation]].<ref name="BostonGlobe18"/>
In October 2022, the company announced a 10-year [[renewable natural gas]] (RNG) offtake agreement with [[BP|bp]] worth approximately $175 million.<ref>{{cite web|author=Vinoski, Jim|url=https://www.forbes.com/sites/jimvinoski/2022/10/19/with-new-bp-deal-divert-steps-175-million-closer-to-solving-the-wasted-food-problem/?sh=40370892a074|title=With New BP Deal, Divert Steps $175 Million Closer To Solving The Wasted Food Problem|publisher=[[Forbes]]|date=19 October 2022|accessdate=28 May 2024}}</ref> Under this agreement, bp will purchase RNG generated from three Divert facilities, which has the potential to offset 36,905 metric tons of carbon dioxide per year.<ref name="jax24"/>
By the end of 2022, the company expanded to more than 1,500 new retail stores,<ref>{{cite web|author=Perez, Miranda|url=https://www.builtinboston.com/2022/08/25/divert-boston-hiring-food-waste-management|title=Divert Is Actively Hiring Amid Growing Demand for Its Food Waste Tech|publisher=Builtinboston.com|date=25 August 2022|accessdate=28 May 2024}}</ref> bringing the total to nearly 5,400 retail stores with an additional 1,000 stores contracted for 2023.<ref>{{cite web|url=https://www.tmcnet.com/usubmit/-divert-inc-announces-transformative-1-billion-infrastructure-development-/2023/03/01/9768795.htm|title=Divert, Inc. Announces Transformative $1 Billion Infrastructure Development Agreement With Enbridge Inc., Solidifying its Leadership in Solving the Wasted Food Crisis|publisher=Tmcet.com|date=1 March 2023|accessdate=28 May 2024}}</ref>
In January 2023, the company announced that Nicholas Bertram, former president of The Giant Company and the CEO and President of Flashfood had joined its advisory board as its founding member.<ref>{{cite web|url=https://councils.forbes.com/profile/Nicholas-Bertram-President-CEO-Flashfood/bf1e3bac-15b8-4773-bcc5-fc7a50b1f5d6|title=Nicholas Bertram|publisher=Forbes Business Council|accessdate=28 May 2024}}</ref> In March 2023, the company announced a $1 billion infrastructure development agreement with [[Enbridge]], Inc.,<ref>{{cite web|author=Groom, Nichola|url=https://www.reuters.com/business/sustainable-business/enbridge-commits-1-bln-company-turning-food-waste-energy-2023-03-01/|title=Enbridge commits $1 billion to company turning food waste to energy|publisher=Reuters|date=1 March 2023|accessdate=28 May 2024}}</ref> and $100 million in growth equity from Enbridge and current investor Ara Partners.<ref>{{cite web|url=https://www.enbridge.com/about-us/enbridge-and-the-energy-transition/wall-street-journal-enbridge-divert-converting-wasted-food-to-rng|title=Converting wasted food into renewable energy|publisher=[[Wall Street Journal]] via Enbridge.com|accessdate=28 May 2024}}</ref> The funding will go towards the development of anaerobic digesters across the U.S. to turn wasted food into [[renewable energy]].<ref>{{cite web|author=Orland, Kevin|url= https://www.bloomberg.com/news/articles/2023-03-01/enbridge-eyes-1-billion-of-projects-to-turn-food-waste-into-gas |title=Enbridge Eyes $1 Billion in Food-Waste-to-Gas Projects|publisher=[[Bloomberg]]|date=1 March 2023|accessdate=28 May 2024}}</ref>
In April 2023, the company announced the groundbreaking on its [[Turlock, California]] food waste to renewable energy facility. Once fully operational in 2024, the facility should process 100,000 tons of wasted food each year. California State Treasurer [[Fiona Ma]] attended the groundbreaking ceremony and emphasized how Divert fits into the state’s climate goals and new organic waste legislation.<ref name="Turlock">{{cite web|author=Correa, Christopher|url=https://www.turlockjournal.com/news/local/new-turlock-facility-looks-to-tackle-nations-food-waste-problem/|title=Breaking ground in Turlock |publisher=Turlock Journal|date=29 April 2023|accessdate=28 May 2024}}</ref>
In September 2023, the company announced the groundbreaking on its [[Longview, Washington]] [[waste to energy|food waste to renewable energy facility]], the first to be established in the state. The facility is projected to be able to process 100,000 tons of wasted food from Washington and Oregon into carbon-negative renewable energy annually.<ref>{{cite web|author=Gaetjens, Bob|url=https://www.wastetodaymagazine.com/news/divert-longview-washington-facility-food-diversion/|title=Divert breaks ground on Washington renewable energy facility|publisher=Waste Today Magazine|date=11 September 2023|accessdate=28 May 2023}}</ref>


==References==
==References==

Revision as of 19:06, 29 May 2024

Divert, Inc. is a West Concord, Massachusetts-based impact technology company that works to eliminate wasted food and create sustainable infrastructure to reduce the impact of waste on the environment and society.[1] Divert works to assist the grocery industry in achieving the UN and US objectives of reducing waste by 50% by 2030.[2]

The company was established in June 2007 by Ryan Begin and Nick Whitman, who have since served as the CEO and COO respectively.[3][4] The company rebranded as Divert, Inc. in 2016, and as of 2022 had more than 250 employees serving 5,500 retail locations across the United States.[5] As of May 2024, the company has 6,600 customer locations across the US.[6] In 2024 Divert stated that they had processed more than 2.3 billion pounds of food since the company was launched in 2007.[7]

History and funding

Divert was founded in June 2007 as Feed Resource Recovery by Ryan Begin and Nick Whitman at the back of a grocery store in Burlington, Massachusetts, to help them process wasted food.[2] In April, 2012, Divert partnered with Kroger in developing a $20 million anaerobic digestion facility for 330 stores in Compton, California.[5] In 2016 they worked with Stop & Shop in establishing their second anaerobic digestion facility in Freetown, Massachusetts.[8][9]

In 2021, Divert was acquired by Ara Partners, a global private equity firm, specializing in industrial decarbonization investments. As a part of the acquisition, Divert received $100 million in growth equity led by Ara in conjunction with Singapore’s sovereign wealth fund, GIC, and Ontario Power Generation.[2] In October 2022, the company announced a 10-year renewable natural gas (RNG) offtake agreement with bp worth approximately $175 million.[10] Under this agreement, bp will purchase RNG generated from three Divert facilities, which has the potential to offset 36,905 metric tons of carbon dioxide per year.[7] By the end of 2022, the company expanded to more than 1,500 new retail stores,[11] bringing the total to nearly 5,400 retail stores with an additional 1,000 stores contracted for 2023.[12]

In 2021, Divert was acquired by Ara Partners, a global private equity firm, specializing in industrial decarbonization investments. As a part of the acquisition, Divert received $100 million in growth equity led by Ara in conjunction with Singapore’s sovereign wealth fund, GIC, and Ontario Power Generation.[2] In October 2022, the company announced a 10-year renewable natural gas (RNG) offtake agreement with bp worth approximately $175 million.[13] Under this agreement, bp will purchase RNG generated from three Divert facilities, which has the potential to offset 36,905 metric tons of carbon dioxide per year.[7] By the end of 2022, the company expanded to more than 1,500 new retail stores,[14] bringing the total to nearly 5,400 retail stores with an additional 1,000 stores contracted for 2023.[15]

In January 2023, the company announced that Nicholas Bertram, former president of The Giant Company and the CEO and President of Flashfood had joined its advisory board as its founding member.[16] In March 2023, the company announced a $1 billion infrastructure development agreement with Enbridge, Inc.,[17] and $100 million in growth equity from Enbridge and current investor Ara Partners.[18] The funding will go towards the development of anaerobic digesters across the U.S. to turn wasted food into renewable energy.[19]

In April 2023, the company announced the groundbreaking on its Turlock, California food waste to renewable energy facility. Once fully operational in 2024, the facility should process 100,000 tons of wasted food each year. California State Treasurer Fiona Ma attended the groundbreaking ceremony and emphasized how Divert fits into the state’s climate goals and new organic waste legislation.[20] In September 2023, the company announced the groundbreaking on its Longview, Washington food waste to renewable energy facility, the first to be established in the state. The facility is projected to be able to process 100,000 tons of wasted food from Washington and Oregon into carbon-negative renewable energy annually.[21]

References

  1. ^ Strailey, Jennifer (15 August 2023). "Transforming food waste to gains: A conversation with Divert CEO Ryan Begin". ThePacker. Retrieved 28 May 2024.
  2. ^ a b c d Pressman, Aaron (24 October 2022). "Concord startup is diverting supermarket food waste to generate clean power". The Boston Globe, accessed via chlpi.org. Retrieved 28 May 2024.
  3. ^ "Ryan Begin". Forbes. Retrieved 28 May 2024.
  4. ^ "No Time to Waste, featuring Nick Whitman '97". Middlebury Magazine. Retrieved 28 May 2024.
  5. ^ a b Brody, Liz (November 22, 2022). "A Machine That Turns Rotten Groceries Into Energy? Meet the Guys Making Waste Useful". Entrepreneur. Retrieved 28 May 2024.
  6. ^ "Divert, Inc. Announces Harrison, Ohio, as the Site of a Future Integrated Diversion & Energy Facility". Redi Cincinnati. 20 May 2024. Retrieved 28 May 2024.
  7. ^ a b c "Company that transforms discarded food into energy looking at Jacksonville". Jacksonville Daily Record. 22 January 2024. Retrieved 28 May 2024.
  8. ^ Cabrey, Erin (16 February 2023). "How Divert has helped save 220,000 tons of waste from retailers". Retail Brew. Retrieved 28 May 2024.
  9. ^ Gallerani, Kathryn. "New food waste limits have businesses scrambling. This Freetown facility is here to help". SouthCoast Today. Retrieved 28 May 2024.
  10. ^ Vinoski, Jim (19 October 2022). "With New BP Deal, Divert Steps $175 Million Closer To Solving The Wasted Food Problem". Forbes. Retrieved 28 May 2024.
  11. ^ Perez, Miranda (25 August 2022). "Divert Is Actively Hiring Amid Growing Demand for Its Food Waste Tech". Builtinboston.com. Retrieved 28 May 2024.
  12. ^ "Divert, Inc. Announces Transformative $1 Billion Infrastructure Development Agreement With Enbridge Inc., Solidifying its Leadership in Solving the Wasted Food Crisis". Tmcet.com. 1 March 2023. Retrieved 28 May 2024.
  13. ^ Vinoski, Jim (19 October 2022). "With New BP Deal, Divert Steps $175 Million Closer To Solving The Wasted Food Problem". Forbes. Retrieved 28 May 2024.
  14. ^ Perez, Miranda (25 August 2022). "Divert Is Actively Hiring Amid Growing Demand for Its Food Waste Tech". Builtinboston.com. Retrieved 28 May 2024.
  15. ^ "Divert, Inc. Announces Transformative $1 Billion Infrastructure Development Agreement With Enbridge Inc., Solidifying its Leadership in Solving the Wasted Food Crisis". Tmcet.com. 1 March 2023. Retrieved 28 May 2024.
  16. ^ "Nicholas Bertram". Forbes Business Council. Retrieved 28 May 2024.
  17. ^ Groom, Nichola (1 March 2023). "Enbridge commits $1 billion to company turning food waste to energy". Reuters. Retrieved 28 May 2024.
  18. ^ "Converting wasted food into renewable energy". Wall Street Journal via Enbridge.com. Retrieved 28 May 2024.
  19. ^ Orland, Kevin (1 March 2023). "Enbridge Eyes $1 Billion in Food-Waste-to-Gas Projects". Bloomberg. Retrieved 28 May 2024.
  20. ^ Correa, Christopher (29 April 2023). "Breaking ground in Turlock". Turlock Journal. Retrieved 28 May 2024.
  21. ^ Gaetjens, Bob (11 September 2023). "Divert breaks ground on Washington renewable energy facility". Waste Today Magazine. Retrieved 28 May 2023.
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