Warren Buffett's grandson, the former Secretary of the U.S. Department of Agriculture and the Prince of Monaco all have a shared interest in KDC Ag, a small but growing start-up in New Jersey that turns food waste into fertilizer.
They agree that food waste is a massive and expensive problem. The U.S. alone spends $218 billion a year growing, processing, transporting and throwing away 62 million tons of food that either ends up in a landfill or unharvested on farms, according to according to ReFED, an organization that raises awareness of the problem in the U.S.
Meanwhile, 15.8 million U.S. households (12.7 percent) were food insecure at some point during 2015, according to the most recent data available from USDA Economic Research Service.
And, at the same time, the farming industry is depleting the soil of necessary nutrients. Two years ago, the United Nations Food and Agriculture Organisation estimated the topsoil of the planet could only support about 60 more years of harvests.