PALM BEACH, Florida, November 29, 2018 /PRNewswire/ --
It is no secret that there has been a resounding shift in the global economic landscape to a cleaner, renewable energy focus
as opposed to traditional methods such as fossil fuels. According to a report by the International Energy Agency, global spending
on the development of clean energy sources is outpacing that of fossil fuels, with over $297
billion invested in the space in 2016. Demand for renewable energy is expected to increase 7% to 30% by 2022, according to
the IEA. An increased emphasis on accountability and sustainability is driving this prominent growth, and energy leaders are also
recognizing the recurring value in renewable energy sources and the ability to convert waste into output. One of the first areas
in the country, Entsorga West Virginia will start turning tons of solid waste into usable fuel beginning the first quarter of
next year. The project is the first of its kind and the method comes from Europe and is expected
to convert plastic and other carbon-based materials into fuel. Active companies in the markets this week include BioHiTech
Global, Inc. (NASDAQ:BHTG), Clean Energy Fuels Corp. (NASDAQ:CLNE), Enphase Energy Inc. (NASDAQ:ENPH), Casella Waste Systems Inc.
(NASDAQ:CWST), Advanced Disposal Services Inc. (NYSE:ADSW).
BioHiTech Global, Inc. (NASDAQ:BHTG) BREAKING NEWS: BioHiTech Global, a technology and services company that
provides cost-effective and sustainable waste management solutions, today announced it has entered into a definitive agreement
(the "Agreement") to acquire an additional 26.8% ownership stake in the nation's first HEBioTtm renewable resource
recovery facility located in Martinsburg, West Virginia (the "Martinsburg Facility").
The acquisition will make BioHiTech the largest owner of the Martinsburg Facility and enable the Company to consolidate an
estimated $7 million in annual high margin revenue generated by the operations in its financial
statements beginning in 2019. The Company is acquiring the additional ownership stake in the Martinsburg Facility from
Entsorga USA in exchange for the issuance of approximately $1,886,000 in BioHiTech preferred stock, convertible into BioHiTech common stock at a fixed price of
$2.64 per share. Entsorga USA, a company owned by the principals
of the Italian engineering firm that developed the HEBioT technology, will remain as a minority owner of the Martinsburg
Facility.
The Martinsburg Facility is expected to begin the commissioning process in December 2018 and to
ramp production throughout the first quarter of 2019. The facility utilizes a patented high efficiency mechanical and biological
treatment process ("HEBioT Process") for the disposal and recycling of mixed municipal solid waste (MSW) into an EPA approved
solid recovered fuel ("SRF"). The HEBioT Process is expected to divert from landfills as much as 80% of the waste that enters the
facility. The Martinsburg facility has secured ten year agreements for both the supply of MSW
from a regional hauler and the off-take of the SRF production by a multi-billion dollar cement company with operations nearby.
The Martinsburg facility is the first of a series of facilities utilizing the patented HEBioT
process that BioHiTech plans to build in the US in the coming years. The Company controls the exclusive development rights to the
HEBioT technology in 12 Northeastern states and the District of Columbia. A second site is
currently under development in Rensselaer, NY with other potential locations in early stage
planning.
Commenting on the agreement, Frank E. Celli, Chief Executive Officer of BioHiTech Global stated,
"Becoming the largest owner of the Martinsburg Facility is a transformative event for our Company and we are excited to begin the
full US commercialization of this important environmentally friendly disposal technology. Not only will these operations add
significant high margin revenue to BioHiTech's financials in 2019, but it will also serve as a showplace for our future roll-out
in the US. With plans to add additional facilities, including Rensselaer and potentially
Philadelphia in the coming years, we now have a solid roadmap for progressive revenue and EBITDA
growth from our HEBioT business. We are more confident than ever that this will enable us to change the waste management industry
and build significant value for our stockholders." Read this full announcement and more news for BHTG
at: https://www.financialnewsmedia.com/news-bhtg/
In additional developments for BioHiTech Global, a recent article published by
Water & Wastes Digest that discussed how aerobic digester reduces global warming impact, it was reported The University of Delaware recently completed a Life Cycle Assessment of BioHiTech's aerobic digesters for
food waste management. The study demonstrated how BioHiTech's technology can significantly reduce the global warming impact of
food waste disposal. WWD Associate Editor Sara Myers spoke with Emily
Dyson, director of Science, Research and Development at BioHiTech, to talk about the study, aerobic digestion process as a whole, the trend of biogas capture
and more.
BioHiTech launched its new subsidiary, Entsorga North America, which expands the company's value proposition to include organic
and inorganic waste streams and provides enterprise solutions to the residential and municipal marketplaces. The Entsorga North
America venture will expand the company's product offering towards providing disruptive, clean technology solutions that advance
the global movement towards sustainability and zero waste initiatives
.Entsorga North America will manage Apple Valley Waste Conversions LLC, an Entsorga North America part-owned subsidiary, and the
company that holds an exclusive license to deploy the Entstorga HEBioT Mechanical Biological Treatment (MBT) technology
throughout the northeastern United States.
he HEBioT MBT system converts food waste, plastics and other carbon based materials from the mixed municipal solid waste (MSW)
stream into a U.S. Environmental Protection Agency (EPA)-recognized alternative fuel source. The waste received at a facility is
converted to a clean burning alternative fuel (Solid Recovered Fuel or SRF), which will be used as an alternative or supplement
to fossil fuels. SRF is ideal for co-processing plants such as cement kilns and steel mills, as well as coal fired power plants,
as a source for the production of renewable energy.
In other industry news and developments:
Clean Energy Fuels Corp. (NASDAQ:CLNE) recently announced its operating results for the quarter and nine months ended
September 30, 2018. Andrew J. Littlefair, Clean Energy's President
and Chief Executive Officer, stated, "In the third quarter we improved financial operating results, including continued positive
operating cash flows, launched the Zero Now Finance program with our new partner Total S.A., and gained additional customers
across different markets. Zero Now Financing has tremendous potential because it gives heavy-duty truck fleets the opportunity to
purchase clean natural gas trucks for the price of diesel trucks, while also allowing them to lock in a fixed discount to diesel.
Subsequent to quarter end we also signed a significant joint marketing RNG deal with BP. We believe we are well positioned
financially and anticipate rapidly growing our Redeem renewable natural gas business with the new BP deal and adding volume
through the Zero Now Finance program."
Enphase Energy Inc. (NASDAQ:ENPH) recently announced that it will be participating at the Bank of America Merrill Lynch
Solar and Alternative Energy Symposium 2018 in New York, NY. Raghu
Belur, co-founder and chief products officer of Enphase Energy, is scheduled to participate in one-on-one meetings and
present at 3:45pm EST on Dec. 6, 2018. Enphase Energy, a global
energy technology company, delivers smart, easy-to-use solutions that connect solar generation, storage and management on one
intelligent platform. The Company revolutionized solar with its microinverter technology and produces the world's only truly
integrated solar plus storage solution. Enphase has shipped more than 18 million microinverters, and over 820,000 Enphase systems
have been deployed in more than 120 countries.
Casella Waste Systems Inc. (NASDAQ:CWST) recently announced has acquired the assets of Boon & Sons, Inc. ("Boon")
and of Oceanside Rubbish, Inc. ("Oceanside"). Both transactions closed on November 1, 2018. Boon is
a provider of residential, commercial and roll-off collection services in the Rochester, NY
market. Oceanside is a provider of residential, commercial and roll-off collection services and operates a transfer station in
the Southern, ME marketplace. In total, the Company expects to generate approximately $16 million
of annualized revenues from the Boon and Oceanside acquisitions.
Advanced Disposal Services Inc. (NYSE:ADSW) came to a close up slightly on Wednesday with over 720,000 shares traded on
the day. Advanced Disposal brings fresh ideas and solutions to the business of a clean environment. As the fourth largest solid
waste company in the U.S., it provides integrated, non-hazardous solid waste collection, recycling and disposal services to
residential, commercial, industrial, and construction customers across 16 states and the Bahamas. Its team is dedicated to finding effective, sustainable solutions to preserve the environment for
future generations.
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