Waste material, such as municipal solid waste or source separated organic waste, is subjected to a first separation treatment that separates organic and inorganic waste components from the waste material and that forms the organic waste component into organic slurry containing waste water, oil/grease and organic material. The organic slurry is subjected to a second separation treatment that separates the waste water, oil/grease and organic material in the organic slurry from one another. The waste water, oil/grease and organic material are subjected to further processing to produce useful products, including animal feed additives, and raw materials for cosmetics, fertilizers/composts, and renewable fuels for producing renewable energy.