Divert, a West Concord, MA-based impact technology company, raised $100M in Equity funding.
The round consisted of $80M in growth stock from Enbridge and $20M led by current investor Ara Partners.
The company intends to use the funds to accelerate growth and expand operations.
Founded in 2007 and led by CEO Ryan Begin and COO Nick Whitman, Divert is an impact technology company that creates advanced technologies and sustainable infrastructure to eliminate wasted food, driving social and environmental impact. The company provides an end-to-end solution that prevents waste by maximizing the freshness of food, recovers edible food to serve communities in need, and converts wasted food into renewable energy. The company works with five Fortune 100 companies and nearly 5,400 retail stores across the U.S., helping food retailers to reach their sustainability goals.
Divert plans to scale its facilities to every major geographic region in the U.S. to be within 100 miles of 80% of the U.S. population in the next eight years. New wasted food to RNG facilities will also be considered for Canada.
FinSMEs
03/03/2023