Nuveen Energy Infrastructure Credit, a part of the US$1.3 trillion asset manager of TIAA, and Divert, Inc., a circular economy company on a mission to prevent food from being wasted, has announced significant financing to scale infrastructure advancing food system circularity in the Southeast US. Nuveen Energy Infrastructure Credit’s investment includes more than US$90 million to fund the development of Divert’s Integrated Diversion & Energy Facility in Lexington, North Carolina, one of 30 facilities the company intends to develop nationwide to address the wasted food crisis.
Latham & Watkins LLP represents Divert in the financing with a project development and finance team led by Washington, D.C. partner Paul Hunt, with associates Giancarlo Reanda and Priya Patel. Advice was also provided on corporate matters by Boston partner Stephen Ranere, with associate Cherrie Wang; on tax matters by Houston partner Jim Cole, with associate Andrea Herman; on project contracts by San Diego counsel Seth Richardson, with associates Carlos Diaz and Tanya Khiatani; and on real estate matters by New York counsel Lisa Brabant.
