The primary objective of this research is to study ways to increase the potential of energy production from food waste by co-production of bioethanol and biomethane. In the first step, the food waste was hydrolysed with an enzyme at different concentrations. By increasing the concentration of enzyme, the amount of reducing sugar produced increased, reaching a maximum amount of 0.49 g/g food waste. After 120 h of fermentation with Saccharomyces cerevisiae, nearly all reducing sugars in the hydrolysate were converted to ethanol, yielding 0.43–0.50 g ethanol/g reducing sugar, or 84.3–99.6% of theoretical yield. The solid residue from fermentation was subsequently subjected to anaerobic digestion, allowing the production of biomethane, which reached a maximum yield of 264.53 ± 2.3 mL/g VS. This results in a gross energy output of 9.57 GJ, which is considered a nearly 58% increase in total energy obtained, compared to ethanol production alone. This study shows that food waste is a raw material with high energy production potential that could be further developed into a promising energy source. Not only does this benefit energy production, but it also lowers the cost of food waste disposal, reduces greenhouse gas emissions, and is a sustainable energy production approach.