Divert Inc., a leading impact technology company on a mission to Protect the Value of Food™, has announced a US$1 billion infrastructure development agreement with Enbridge Inc. (NYSE: ENB) (Enbridge), solidifying the company’s leadership in solving the wasted food crisis and delivering on its mission to decarbonize the food value chain and combat climate change. The transformative $1 billion infrastructure agreement will support the development of wasted food to renewable natural gas (RNG) facilities across North America.
In addition, Divert secured US$80 million in growth equity from Enbridge along with US$20 million from current investor Ara Partners.
Latham & Watkins LLP advised Divert on both transactions. The deal team was led by Washington, D.C. partner Paul Hunt, Boston partner Spencer Ricks, and Houston partners Justin Stolte and Jim Cole, with San Diego counsel Achraf Farraj, Boston associates Erik Thompson, Claire Bradford Di Caro and Jake Hummer, New York associate Annelise Karreman, Houston associate Andrea Herman, and Washington, D.C. associate James Lim.
