Divert, Inc., a circular economy company on a mission to prevent food from being wasted, announced a strategic partnership with Mitsubishi Corporation (MC) serving as the lead investor in Divert鈥檚 Series C financing. This partnership is a first-of-its-kind model for the organics resource recovery industry, reflecting the demonstrated success of Divert鈥檚 commercially and operationally proven platform and elevating the company to a valuation of over $1 billion.
The partnership comes at a time when regulatory pressure, decarbonization goals, food supply chain inefficiencies, and rising disposal and energy costs are continuing to converge. As demand accelerates for infrastructure that can recover value from food that can no longer be consumed, MC鈥檚 expertise will play a key role in supporting Divert鈥檚 continued growth. As part of the partnership, MC has made an equity investment in Divert and in connection with that investment, has been granted preferred offtake rights for renewable natural gas. Together, Divert and MC are also establishing a new pathway to bring the benefits of renewable natural gas into Japan and other global markets through MC鈥檚 global energy platform.听
鈥淭his partnership reflects the maturity of Divert鈥檚 platform and the value we deliver to customers every day,鈥� said Ryan Begin, CEO and co-founder of Divert. 鈥淲e have built a proven model that solves real operating challenges for food retailers and manufacturers, and creates value through food donations, renewable energy production, and nutrient recovery. MC recognized Divert as a disciplined infrastructure platform with proven results, strong operating capability, and a clear path to continued scale.鈥�听
Divert’s platform sits at the intersection of food, logistics, agriculture, energy and carbon markets, positioning the company to reduce waste at its source and maximize value from the material it receives. The company鈥檚 model supports major food retailers and manufacturers in achieving compliance, reducing waste, and improving operational efficiency.听
MC leverages more than 50 years of expertise across energy markets to deliver solutions that support a stable energy supply and advance the transition to a carbon-neutral society. Given MC鈥檚 experience in developing and operating gas-related businesses in the United States, the partnership creates a strong foundation for collaboration and synergy with Divert.听
鈥淲e are focused on building businesses that strengthen resource resilience, support stable energy supply, and create long term value through practical decarbonization,鈥� said Shinya Naka, Senior Vice President, Division COO, Europe & Next-Generation Energy Div., Energy & Power Solution Group. 鈥淒ivert has built a compelling platform at the convergence of food, energy, and circularity. Its proven operating model, strong customer value proposition, and ability to recover value from discarded resources made this a strategic opportunity for us.鈥�听