Quest Resource Holding Corporation Achieves 96% Food Waste Diversion Using Newly Patented Quest Proganics®

Rhea-AI Summary

Quest Resource Holding Corporation (QRHC) announced U.S. patent approval of Quest Proganics®, a unique-to-the-market process that enables companies to achieve organic waste diversion rates of up to 96%. The solution has been integrated across a grocery chain of more than 60 stores, resulting in doubling the volume of food waste collected and recycled, and cutting emission levels in half. This has led to Quest winning the 2023 award for Top Waste Management Company by Food and Beverage Technology Review. The cost-effective process uses single-bin collection to handle all organic material and circular solutions to divert 96% of waste away from landfills. The program also helps reduce solid waste spend by 50-60%, improve store safety and cleanliness, and requires nominal employee training.

Positive

• Quest Proganics® achieved organic waste diversion rates of up to 96%
• The solution has been integrated across a grocery chain of more than 60 stores, resulting in doubling the volume of food waste collected and recycled, and cutting emission levels in half
• Quest won the 2023 award for Top Waste Management Company by Food and Beverage Technology Review

Negative

• None.

Insights

Environmental Sustainability Expert

The approval of the Quest Proganics patent represents a significant advancement in the environmental sustainability sector, particularly within the context of the grocery industry. The ability to divert up to 96% of organic waste from landfills through a proprietary process is not only a technological breakthrough but also a robust approach to corporate environmental responsibility. This high diversion rate surpasses the industry's typical benchmarks, where organic waste diversion can often lag due to logistical and technological constraints.

The implementation of Quest Proganics could lead to a substantial reduction in methane emissions from decomposing organic waste in landfills, which is a potent greenhouse gas. By converting organic materials into compost, biofuel, animal feed and Waste-to-Energy (WTE), Quest is capitalizing on the circular economy model. This model emphasizes the reuse and repurposing of resources, minimizing waste and maximizing resource efficiency. The reported 50-60% reduction in solid waste spend for stores also underscores the potential economic benefits alongside environmental gains.

Financial Analyst

From a financial perspective, Quest Resource Holding Corporation's newly patented Quest Proganics process could have a meaningful impact on the company's market position. The ability of a single client to double their volume of food waste collection and recycling while halving emission levels speaks to the operational efficiency and cost-effectiveness of the solution. This innovation could serve as a differentiator in the competitive waste management industry, potentially attracting new clients and increasing market share.

Moreover, the cost savings associated with solid waste management, which can be reduced by 50-60%, may translate into improved profit margins for both Quest and its clients. As businesses increasingly seek to align with Environmental, Social and Governance (ESG) criteria, Quest's Proganics system positions the company favorably within the investment community that values sustainability initiatives. The recognition by Food and Beverage Technology Review could further enhance Quest's reputation and brand value, potentially leading to positive stock market implications.

Market Research Analyst

The waste management and recycling sector is undergoing a significant transformation, driven by heightened environmental concerns and regulatory pressures. Quest's Proganics system is entering the market at a time when there is a strong demand for sustainable solutions. By offering a unique-to-the-market process that addresses all business waste streams and achieves historically high diversion rates, Quest is tapping into a niche yet rapidly expanding segment of the market.

Consumer and regulatory trends are increasingly favoring companies with strong sustainability practices. Quest's innovation could potentially set a new standard for organic waste management in the grocery industry and beyond. The market appeal of such a system is likely to grow as more companies look to improve their sustainability metrics and reduce their environmental footprint. This could lead to increased adoption rates, providing Quest with significant growth opportunities in the near future.

Plays Role in Winning 2023 Waste Management Award from Food and Beverage Technology Review

THE COLONY, Texas, Jan. 03, 2024 (GLOBE NEWSWIRE) -- Today, national leader in environmental waste and recycling solutions, Quest Resource Holding Corporation (NASDAQ: QRHC) ("Quest"), through its Quest Resource Management Group subsidiary, announced U.S. patent approval of Quest Proganics^®. Quest Proganics is a proprietary, unique-to-the-market process that enables companies to achieve organic waste diversion rates of up to 96%, which is higher than any preexisting large scale organic waste diversion program for the grocery industry. Since integrating the solution across a grocery chain of more than 60 stores, one Quest client has consistently achieved these diversion rates, doubling the volume of food waste that is collected and recycled, and cutting emission levels in half. The results have been a catalyst for Quest winning the 2023 award for Top Waste Management Company by Food and Beverage Technology Review.

Quest Proganics is a cost-effective, comprehensive recycling process that uses single-bin collection to handle all organic material, including packaged food, non-packaged food, floral, all types of paper products, plastics, and waxed cardboard. Circular solutions are used to divert 96% of waste away from landfills, including converting materials into compost, biofuel, animal feed, and Waste-to-Energy (WTE) for some packaged materials. In addition to increased diversion rates, stores can reduce solid waste spend by 50-60%, improve store safety and cleanliness, and implement the program with nominal employee training. 

“As a recycling innovator, we’re always pursuing transformative steps toward zero waste solutions for all waste streams. Quest Proganics uses a unique combination of proven processes and pioneered protocols that can be leveraged on a large scale across a network of facilities to achieve historically unreported diversion rates for organic waste,” said Quest President and CEO S. Ray Hatch. “The patent gives a name to a solution that grocers, retailers and the food industry have been looking for to propel them toward their sustainability goals. While the patent was pending, one of our clients took a leadership position and proved the program’s potential as an early adopter.”

“Along with their patented program, Quest has generated incredible client value and results through their entire portfolio of food and beverage industry solutions,” said Kevin Lobo, Managing Editor at Food and Beverages Tech Review, 'We are proud and excited to recognize them as a Top Food Waste Management Solution Provider for the food and beverage industry in 2023. Quest’s solutions address all business waste streams, providing substantial environmental benefits and cost efficiencies toward ESG and sustainability initiatives, while also providing a better customer experience through a safer, cleaner and healthier facility.”  

As the only solution in the marketplace offering this operationally efficient process and reporting historically high rates of diversion, Quest Proganics represents Quest’s commitment to reducing food waste and improving sustainability strategies across the grocery, retail, and food industries. “Working with our clients, we’ve demonstrated what retailers, no matter their size and scale, can accomplish with Quest Proganics,” said Hatch. 

Learn more about Quest Proganics and Quest’s other data-driven waste strategies at www.QuestRMG.com.

About Quest Proganics^®
Quest Resource Management Group, a part of Quest Resource Holding Company, has been providing large scale, organic waste solutions for more than a decade to a variety of industries across the United States. The success and learnings from these client-tailored programs, coupled with an eye towards innovation, has led to the formulation of Quest Proganics, a transformative process with breakthrough results for greater landfill diversion and process efficiencies. The process delivers improved environmental results and streamlined operations in support of your sustainability and ESG programs, accompanied by safer, cleaner, healthier facilities for customers and employees.

For more information on Quest Proganics, please visit www.QuestRMG.com/QuestProganics or contact Leigh Harrington at QuestMarketing@QuestRMG.com.

About Quest Resource Holding Corporation
Quest is a national provider of waste and recycling services that enable larger businesses to excel in achieving their environmental and sustainability goals and responsibilities. Quest delivers focused expertise across multiple industry sectors to build single-source, client-specific solutions that generate quantifiable business and sustainability results. Addressing a wide variety of waste streams and recyclables, Quest provides information and data that tracks and reports the environmental results of Quest’s services, gives actionable data to improve business operations, and enables Quest’s clients to excel in their business and sustainability responsibilities. 

For more information, visit www.qrhc.com.

About Food & Beverage Tech Review
Food and Beverage Tech Review is a leading technology magazine for the food and beverage industry with over 118,250 print and digital subscribers across the US. VPs of Wine Operations, Directors of Viticulture, CEOs, Heads of Marketing & Business Development, Chief Operating Officers, Chief Supply Chain Officers, and many other senior-level decision-makers in the Wine Industry are among our subscribers. It provides a comprehensive platform for senior beverages industry experts, buyers, and decision-makers to share their knowledge using unique peer-to-peer learning methods.

For more information, visit www.fbtechreview.com.

Media Contact
Quest Resource Management Group
Leigh Harrington
972.464.0014

 

FAQ

What is the name of the company mentioned in the press release and its ticker symbol?

The company mentioned in the press release is Quest Resource Holding Corporation, and its ticker symbol is QRHC.

What is the unique-to-the-market process mentioned in the press release that enables companies to achieve organic waste diversion rates of up to 96%?

The unique-to-the-market process mentioned in the press release is Quest Proganics®.

What are the benefits of integrating Quest Proganics® across a grocery chain of more than 60 stores?

The benefits include doubling the volume of food waste collected and recycled, cutting emission levels in half, and reducing solid waste spend by 50-60%.

What award did Quest Resource Holding Corporation win in 2023?

Quest won the 2023 award for Top Waste Management Company by Food and Beverage Technology Review.

What are the environmental benefits and cost efficiencies provided by Quest’s solutions?

Quest’s solutions provide substantial environmental benefits and cost efficiencies toward ESG and sustainability initiatives, while also providing a better customer experience through a safer, cleaner, and healthier facility.