WEST CONCORD, Mass.--(BUSINESS WIRE)--Divert, Inc., an impact technology company on a mission to Protect the Value of Food™, today announced that it has experienced significant business growth, adding more than 1,500 new retail stores to its portfolio and expanding its retail customer base by more than 40% in the last two years. The company’s momentum is a product of its unique approach, proprietary infrastructure and holistic technology focused on Protecting the Value of Food™ and driving a positive social and environmental impact. In the past year, Divert® has reduced CO2 emissions (CO2e) for its customers by 60,000 metric tons.
“Divert has grown tremendously in the last 15 years, partnering with thousands of retail stores across the country to mitigate food waste via donations as well as repurposing and processing organic waste into valuable resources,” said Ryan Begin, co-founder and CEO of Divert. “As the climate crisis deepens and demand for our technology and infrastructure from current and prospective customers increases, we’re expanding at a rapid pace to further deliver on our commitment to build a waste-free future.”
Today, the U.S. alone generates more than 100 million tons of food waste annually, with over 50% going to landfills or incinerators. What’s more, food waste contributes 8% to 10% of global greenhouse gas emissions. Divert is tackling these crises head on, already delivering immense progress towards eliminating food waste through its unique technology solutions - from converting food waste into renewable fuels to feeding those in need.
Founded in 2007 by Ryan Begin and Nick Whitman, co-founder and COO, Divert works with five Fortune 100 companies and more than 5,200 retail stores across all 50 U.S. states, providing technology, logistics and anaerobic digestion facilities to help retailers reach their sustainability goals. The company prevents more than 163,000 tons of food annually from entering landfills – the equivalent of more than 266 million meals or a year's worth of food for approximately 163,000 people.
In 2021, Divert was acquired by Ara Partners (“Ara”), 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.
“We believe that Divert’s distinct proprietary technology and infrastructure will create a step change in reducing and preventing wasted food as well as meeting the world’s growing demand for alternative energy resources, like renewable natural gas (RNG),” said Cory Steffek, Partner at Ara Partners. “Ryan and his team have built a solid, differentiated business and we’re honored to be working closely with them to advance the solutions that we desperately need to mitigate the wasted food crisis across the U.S.”
For more information, please visit: www.divertinc.com/.
About Divert
Founded in 2007, Divert, Inc. is an impact technology company on a mission to Protect the Value of Food™. Working with five Fortune 100 companies, Divert® creates advanced technology and sustainable infrastructure to prevent wasted food, driving social and environmental impact. For more information on Divert, Inc., please visit www.divertinc.com.
About Ara Partners
Ara Partners is a private equity firm specializing in industrial decarbonization investments. Ara Partners invests in the industrial & manufacturing, chemicals & materials, energy efficiency & green fuels and food & agriculture sectors, seeking to build businesses that provide significant decarbonization impact. It operates from offices in Boston, Massachusetts, Houston, Texas and Dublin, Ireland. Ara Partners closed its second fund with approximately $1.1 billion in capital commitments in September 2021. For more information on Ara Partners, please visit www.arapartners.com.
