CHESTNUT RIDGE, N.Y., Sept. 18, 2018 /PRNewswire/ -- BioHiTech Global, Inc. ("BioHiTech" or the "Company") (NASDAQ: BHTG), a technology and services company that provides cost-effective and sustainable waste management solutions, today announced that the Company's subsidiary, Rensselaer Resource Recovery, LLC, has received local permit approval from the City of Rensselaer New York to build a 72,000 square foot HEBioT municipal waste processing facility on 23 acres of land in the city's southern industrial area.
The planned facility is expected to generate approximately $12 million of high margin annual revenue through a patented waste processing system that converts approximately 40% of mixed municipal waste into an EPA approved solid recovered fuel ("SRF") and reduces the total residual waste ultimately sent to landfills by as much as 80%. BioHiTech controls the exclusive U.S. development rights for the patented HEBioT solid waste processing technology developed by Entsorgafin S.P.A. in 11 northeastern states and the District of Columbia.
The Rensselaer City Planning Commission voted 5-0 to approve the project which included an environmental review and issuing a special use permit in the industrial-zoned area. BioHiTech is now seeking final permit approval from the State of New York to begin construction on the project.
Frank E. Celli, CEO of BioHiTech, commented, "We are excited to have taken this important step forward in our Rensselaer HEBioT facility project. Having these local permits in place signifies that together with the City of Rensselaer we can embrace the future of sustainable waste disposal through technology that can reduce landfill usage and generate an EPA approved renewable fuel. We look forward to working with the State of New York to finalize the permitting process and bring this project to its fruition. With the first U.S. HEBioT plant in West Virginia nearing completion, our Rensselaer project achieving this significant milestone, and our planning stage project in Philadelphia, we are well on our way to building a strong pipeline of HEBioT facility projects that will add significant high margin revenue to BioHiTech in the years to come. We look forward to rolling out this important technology in conjunction with our other cost-effective sustainable waste management in order to build lasting value for our stockholders."
About BioHiTech Global
BioHiTech Global, Inc. (NASDAQ: BHTG), is changing the way we think about managing waste. Our innovative waste management services combined with our disruptive technologies provide sustainable waste disposal and supply chain management solutions for businesses and municipalities of all sizes. Our technology platform, including the on and off-site biological treatment of waste, is designed to reduce overall waste generation and virtually eliminate landfill usage while creating a valuable renewable fuel. For more information, please visit www.biohitech.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.
Company Contact:
BioHiTech Global, Inc.
Rich Galterio
Executive Vice President
Direct: 845.367.0603
[email protected]
www.biohitech.com
SOURCE BioHiTech Global, Inc.
