BioHiTech Receives $400,000 in New Food Waste Digester Purchase Orders from Carnival Corporation in September for Deployment on Two Additional Ships

Rhea-AI Summary

BioHiTech Global (NASDAQ: BHTG) announced $400,000 in new purchase orders for its Revolution Series Digesters from Carnival Corporation, part of a contract potentially worth $14 million. This follows a prior $1 million in orders received in July 2020. Expected shipments of current orders will commence in September and extend into Q4 2020. These digesters aim to enhance environmental sustainability on cruise ships by managing food waste and reducing greenhouse gases.

Positive

• Received $400,000 in new orders from Carnival Corporation.
• Part of a larger contract estimated at $14 million.
• Continuing progress in orders indicates strong client commitment to sustainability.

Negative

• None.

CHESTNUT RIDGE, N.Y., Sept. 3, 2020 /PRNewswire/ -- BioHiTech Global, Inc. ("BioHiTech" or the "Company") (NASDAQ: BHTG), a sustainable technology and services company, announced today it has received $400,000 in new food waste digester purchase orders for its Revolution Series Digesters from Carnival Corporation & plc, the world's largest cruise company. 

These orders are in addition to the $1 million in purchase orders received by the Company in July of 2020 and are part of the previously announced purchase contract between the two companies with an estimated value of up to $14 million. BioHiTech expects to ship units on the $1.4 million in current orders beginning in September and throughout the fourth quarter. The Company's Revolution Series Digesters will help Carnival Corporation reduce greenhouse gases and improve environmental outcomes through the safe onboard disposal of food waste. The Company's data analytics platform will also provide real-time transparency for food waste generation to assist in Carnival Corporation's waste reduction efforts.

"The continued progression of orders from Carnival Corporation further demonstrates their commitment to environmental stewardship as they prepare for the resumption of cruising," said Frank E. Celli, CEO of BioHiTech Global. "We look forward to commencing unit deliveries later this month and progressively throughout the remainder of 2020 and into 2021."

About Carnival Corporation & plc 
Carnival Corporation & plc is one of the world's largest leisure travel companies with a portfolio of nine of the world's leading cruise lines. With operations in North America, Australia, Europe and Asia, its portfolio features Carnival Cruise Line, Princess Cruises, Holland America Line, Seabourn, P&O Cruises (Australia), Costa Cruises, AIDA Cruises, P&O Cruises (UK) and Cunard.

Additional information can be found on www.carnival.com, www.princess.com, www.hollandamerica.com, www.seabourn.com, www.pocruises.com.au, www.costacruise.com, www.aida.de, www.pocruises.com and www.cunard.com.

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 reduce greenhouse gases 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.

Company Contact:
BioHiTech Global, Inc.
Richard Galterio
Executive Vice President
Direct: 845.367.0603
rgalterio@biohitech.com
www.biohitech.com

Investors: 
ir@biohitech.com

 

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SOURCE BioHiTech Global, Inc.

FAQ

What is the significance of BioHiTech's $400,000 orders from Carnival Corporation?

The $400,000 orders signify BioHiTech's strong relationship with Carnival Corporation and their commitment to environmental solutions.

How does BioHiTech's technology benefit Carnival Corporation?

BioHiTech's technology helps Carnival reduce greenhouse gases and manage food waste effectively onboard cruise ships.

What is the total value of the contract between BioHiTech and Carnival Corporation?

The contract has an estimated total value of up to $14 million.

When will BioHiTech start shipping the digesters to Carnival Corporation?

BioHiTech expects to start shipping the units in September 2020 and continue through Q4.

What prior orders did BioHiTech receive from Carnival Corporation in 2020?

In July 2020, BioHiTech received $1 million in purchase orders from Carnival Corporation.