BioHiTech Receives Additional Purchase Order from Carnival Corporation for Its Food Waste Digesters Bringing the Total Value of Orders Received in July to Approximately $1 Million
BioHiTech Global, Inc. (NASDAQ: BHTG) announced a new purchase order from Carnival Corporation, adding to its previous orders totaling approximately $1 million in July. This order will equip Carnival's new Mardi Gras ship, set to launch in February 2021, with multiple Revolution Series Digesters aimed at reducing greenhouse gas emissions and improving waste disposal. The existing contract with Carnival has an estimated total value of up to $14 million. BioHiTech's CEO highlighted the strategic partnership's potential for long-term value creation.
- Received additional purchase order from Carnival Corporation, adding to July's total of approximately $1 million.
- Contract with Carnival has an estimated total value of up to $14 million.
- The order is for the new Mardi Gras ship, enhancing waste management and sustainability efforts.
- None.
CHESTNUT RIDGE, N.Y., Aug. 3, 2020 /PRNewswire/ -- BioHiTech Global, Inc. ("BioHiTech" or the "Company") (NASDAQ: BHTG), a technology and services company that provides cost-effective and sustainable waste management solutions, announced today it has received an additional purchase order for its Revolution Series Digesters from Carnival Corporation & plc, the world's largest cruise company, bringing the total value of orders received in July to approximately
Shipments on Carnival Corporation's recent orders are expected to commence late in the third quarter of 2020 and are part of the previously announced purchase contract between the two companies with an estimated value of up to
"We believe this order represents further progression in our partnership with Carnival Corporation as they prepare for the launch of this state-of-the-art ship in 2021," said Frank E. Celli, CEO of BioHiTech Global. "The continued implementation of this contract, coupled with our recent equity financing, places BioHiTech in a solid position to move forward across all of our business fronts, including our new disinfecting distribution business. We are focused on the execution of this contract as well as the expansion of our entire business as we work to build significant long-term value for our stockholders."
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. is changing the way we think about waste management. Our cost-effective technology solutions 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. Our unique solutions enable businesses and municipalities of all sizes to lower disposal costs while having a positive impact on the environment. When used individually or in combination, our solutions lower the carbon footprint associated with waste transportation and can reduce or virtually eliminate landfill usage. 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 value of BioHiTech's orders in July 2020?
What ship is BioHiTech providing equipment for?
What is the estimated total value of the contract with Carnival Corporation?
What are Revolution Series Digesters used for?
