#United States #Boston #Carbon Credits #Brightly #Schreiber Foods

Brightly's Innovative Approach to Combating Food Waste

Brightly, an emerging climate-tech startup, has recently secured $2.3 million in seed funding to further its ambitious goal of transforming food waste into high-quality carbon credits. This innovative funding represents a collaborative effort to combat not only food waste but also the adverse effects of climate change, while supporting food rescue organizations that strive to feed those in need.

The latest investment round, which turned out to be oversubscribed, was spearheaded by Schreiber Foods, a renowned global food company recognized for its sustainable practices. Other investors included G-Force, Collaborative Fund, Clear Current Capital, and Windsail Capital. This new financial backing will allow Brightly to amplify its operations and broaden its impact.

The Mission Behind Brightly

Founded with the mission to tackle food waste, food insecurity, and out-of-control methane emissions, Brightly is at the forefront of a crucial environmental movement. When food waste decomposes in landfills, it emits methane, a greenhouse gas approximately 80 times more potent than carbon dioxide. Brightly’s approach quantifies and monetizes the methane emissions avoided when nonprofit Food Rescue Organizations (FROs) divert excess edible food from landfills to those who require it most.

Andy Levitt, the founder and CEO of Brightly, emphasized the vital role of food rescue organizations in the fight against climate change and hunger. He noted, “Their work not only feeds those in need but also prevents harmful methane emissions.” This perspective underscores the dual benefit of Brightly’s operations: nourishing communities while fighting climate change.

Schreiber Foods: A Commitment to Sustainability

The partnership with Schreiber Foods highlights a shared commitment to sustainability and environmental stewardship. As a leading dairy company, Schreiber Foods recognizes the importance of addressing their environmental footprint. Blair Tritt, Vice President of Corporate Ventures and Partnerships at Schreiber Foods, stated that their investment in Brightly aligns perfectly with their sustainability objectives, demonstrating their dedication to reducing methane emissions and promoting sustainable practices.

Brightly's Technology and Its Impact

At the core of Brightly’s operations is its proprietary, AI-driven platform that accurately calculates the methane emissions avoided from food rescue activities. By tapping into rich datasets, including resources from the USDA and EPA, the platform ensures that the carbon credits created from food waste are of the highest quality. These credits will provide essential funding for FROs, allowing them to expand their reach, save more food, and consequently divert more methane from the atmosphere.

The startup addresses two critical global challenges. Food waste is the leading contributor to landfills in the United States, generating methane emissions that equate to what's produced by roughly 20 million passenger vehicles each year. Concurrently, over 47 million Americans, including 14 million children, struggle with food insecurity, unaware of where their next meal will come from.

The Support of Climate-Tech Investment Partners

Louis Warner, a partner at G-Force, expressed confidence in Brightly's mission and its innovative approach to solving both hunger and climate crises. He remarked on the impressive capacity of Brightly to deliver value not only to food rescue organizations but also to corporate partners, celebrating their commitment to addressing urgent issues.

In conclusion, Brightly is forging a path towards a more sustainable future through its groundbreaking efforts to recycle food waste into carbon credits while simultaneously addressing hunger and climate change. The company's innovative approach is poised to reshape the landscape of climate solutions and significantly contribute to a more sustainable world.

For more information on Brightly and its mission, visit brightly.earth.