BioHiTech Global Initiates Strategic Rollout Plan for the Deployment of its Proprietary MBT Technology for Waste Disposal and Recycling
Company's subsidiary enters into letters of intent to purchase solid waste permits and property to locate two HEBioT facilities in the Northeast United States
CHESTNUT RIDGE, N.Y., Sept. 22, 2016 /PRNewswire/ -- BioHiTech Global, Inc. ("BioHiTech" or the "Company") (OTCQB: BHTG), a green technology company that develops and deploys innovative and disruptive waste management technologies, has initiated a strategic plan for the deployment of its proprietary MBT technology for waste disposal and recycling.
As a first phase of its rollout strategy, the Company intends to locate two HEBioT facilities in the Northeast United States and has recently entered into letters of intent to purchase property and solid waste permits for the two planned locations. This proprietary HEBioT process recovers almost 80% of municipal solid waste. Additionally, the Company intends to purchase an equity interest in the first ever HEBioT facility in the US currently under construction in Martinsburg West Virginia. The Martinsburg construction project was financed through a $25 million municipal bond funding in 2016 and is scheduled to commence operations in the summer of 2017. It is anticipated that the Company will seek to move forward with additional HEBioT projects in the US over the next few years
The HEBioT process recovers municipal solid waste by integrating OEM sorting equipment with patented MBT (Mechanical/Biological Treatment) technologies into a dedicated processing facility. The disposal of waste using this system is cost effective and should result in a number of environmental benefits including:
A significant reduction in the amount of mixed municipal solid waste that ultimately is disposed of in landfills.
The recovery of biomass, plastics and other carbon materials.
The production of an EPA recognized, high calorific, solid recovered fuel to help reduce harmful emissions.
Through its partnership with Apple Valley Waste Conversions, BioHiTech's wholly owned subsidiary, Entsorga North America, is the exclusive licensee and developer of the patented HEBioT technology for the Northeast United States. Entsorga Italia, an Italian affiliate of the company, is the owner and licensor of the process that has been successfully deployed at seven facilities located throughout Europe, which currently process in excess of 1 million tonnes per year of waste.
"When we originally licensed the Entsorga Italia technology after researching the operation of the facilities in Europe and examining the plans to develop the West Virginia facility, we were confident that our knowledge and experience in the solid waste industry in the United States would enable us to rapidly forward the deployment of this important technology," stated CEO Frank E. Celli. "Our first goal was to identify and isolate locations for deployment which would allow us to develop a robust pipeline of projects quickly. The execution of these letters of intent, provide us with the ability to begin the permitting process for our first two facilities in the Northeast United States which we hope to receive some time in 2017. As we continue to leverage our extensive knowledge of the waste industry and the ongoing problems with the current disposal system in the United States, we intend to diligently expand our project pipeline in order to establish BioHiTech as a pioneer and the leading provider of environmentally responsible solutions to waste disposal and recycling."
About BioHiTech Global BioHiTech Global (OTCQB: BHTG), "The Company" headquartered in Chestnut Ridge NY, develops and deploys innovative and disruptive waste management technologies. The combined offerings of BioHiTech Global offer our customers a full suite of technology based disposal options capable of having a significant impact on waste generation while providing a true zero landfill environment. With options for both the on and off site biological treatment of waste, BioHiTech Global is a leader in zero waste solutions for businesses and municipalities. For more information, please visit www.biohitechglobal.com.
Forward Looking Statements Statements in this document contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on many assumptions and estimates and are not guarantees of future performance. These statements may involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of BioHiTech Global, Inc. to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. BioHiTech Global, Inc. assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Our actual results may differ materially from the results anticipated in these forward-looking statements due to a variety of factors, including, without limitation those set forth as "Risk Factors" in our filings with the Securities and Exchange Commission ("SEC"). There may be other factors not mentioned above or included in the BioHiTech's SEC filings that may cause actual results to differ materially from those projected in any forward-looking statement. BioHiTech Global, Inc. assumes no obligation to update any forward-looking statements as a result of new information, future events or developments, except as required by securities laws.
