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November 10, 2020
CHESTNUT RIDGE, N.Y. -- BioHiTech Global, Inc. ("BioHiTech" or the "Company") (NASDAQ: BHTG), a sustainable technology and services company, announced today it has received approximately $3.3 million in purchase orders for its Revolution Series™ food waste digesters from Carnival Corporation since the company reinitiated the installation of food waste digesters on its ships in July, 2020.
BioHiTech expects to receive additional orders in the fourth quarter of 2020 and throughout 2021 as Carnival prepares for the eventual resumption of cruising. The Company has ramped up production and begun shipments with the expectation of additional deliveries taking place on a regular basis in the coming quarters. Utilization of the Revolution Series digesters, equipped with BioHiTech's proprietary data analytics platform, is part of Carnival's comprehensive plan to limit food waste, achieve safe onboard disposal, and improve associated environmental outcomes.
"Carnival continues to move forward with the rollout of our food waste digesters on their fleet of cruise ships and today's news about the effectiveness of a potential vaccine for COVID-19 bodes very well for the successful resumption of cruising in the near future," said Tony Fuller, CEO of BioHiTech Global. "We have ramped up production, begun making deliveries and look forward to working closely with Carnival to help achieve their sustainability goals."
About BioHiTech Global
BioHiTech Global, Inc. (NASDAQ: BHTG), is a technology services company focused on providing cost-effective solutions that improve environmental outcomes. Our technologies for waste management include the patented processing of municipal solid waste into a valuable renewable fuel, biological disposal of food waste on-site, and proprietary real-time data analytics tools to reduce food waste generation. When used individually or in combination, our solutions lower the carbon footprint associated with waste transportation and can reduce or virtually eliminate landfill usage. In addition, we distribute a patented technology that achieves high-level disinfection of spaces such as classrooms, hotel or hospital rooms and other enclosed areas to combat the spread of viruses and bacteria without the use of harsh chemicals. Our unique solutions enable businesses, educational institutions and municipalities of all sizes to solve everyday problems in a smarter and more cost-effective way while reducing their impact on the environment. 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, including statements about the estimated contract value, additional purchase orders or deliveries, and the ability of the Company's products to improve environmental outcomes and achieve corporate sustainability goals, 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.
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