CHESTNUT RIDGE, N.Y.,
June 9, 2021 /PRNewswire/ --
BioHiTech Global, Inc. ("BioHiTech" or the "Company") (NASDAQ:
BHTG), a sustainable technology and services company, has entered
into a project management services agreement with Lone Cypress
Energy Services, LLC ("Lone Cypress)
to evaluate and develop new High-Efficiency Biological Treatment
(HEBioTTM) projects. Together, the two companies will
also explore additional uses of Solid Recovered Fuel ("SRF") and
other potential fuels that could be
developed.
Lone Cypress will take a lead
role in environmental permitting and regulatory compliance services
related to the development of additional patented HEBioT facilities
and in the renewable energy business sector. This includes any
additional projects in connection with solar, hydrogen, and other
renewable technologies. BioHiTech and Lone
Cypress are also in discussions with several general
construction and engineering management services firms to guide
construction and provide cost management oversight in executing
future opportunities.
"We are pleased to be working with Lone
Cypress to provide project analysis, management, and
industry understanding of waste-to-energy projects that enables our
team to better capitalize on the many inquiries we are receiving
about our HEBioT technology," stated Tony Fuller, CEO of BioHiTech. "Our
Companies are currently exploring additional uses for our SRF, such
as fuel for cogeneration and as a feedstock for
bio-plastics."
BioHiTech launched its first HEBioT resource recovery facility
in Martinsburg, West Virginia in
2019. That facility is capable of processing 110,000 tons of
municipal solid waste annually while producing nearly 50,000 tons
of SRF for use by cement manufacturing partners as a partial
replacement for coal.
As communities around the United
States have looked to find solutions for municipal solid
waste disposal, BioHiTech has established a successful model for
making a useful product out of refuse resulting in significant
diversion from landfills and lower greenhouse gas emissions.
Additionally, our sorting of municipal solid waste has increased
the amount of recycled metals going to market that would have
otherwise been landfilled.
"BioHiTech is one of the preeminent members of the waste
management community, and we look forward to working in partnership
with this esteemed firm. Their cutting-edge HEBioT technology
has amazing potential for the domestic waste industry.
Merging our project execution experience with their industry
knowledge positions us well for future growth. We look
forward to working with BioHiTech on these exciting opportunities,"
said Greg Brooks, President of
Lone Cypress.
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.
About Lone Cypress
Lone
Cypress Energy Services, LLC is an independent energy company
focused on the development and operation of infrastructure across
the entire energy value chain. Headquartered in Tulsa, OK, Lone
Cypress offers a full suite of technology-enabled solutions
including traditional EPC (engineering, procurement, and
construction) contracting, project management, asset operations and
project financing. Lone
Cypress specializes in the development of waste to energy
plant solutions, traditional oil and gas midstream facilities, and
hydrogen generation and distribution projects. Our senior
leadership team is anchored by technical professionals with over
100 years of combined execution experience. For more information,
please visit www.lonecypressenergyservices.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.
Company Contact:
BioHiTech Global, Inc.
Lisa Giovannielli
VP, Corporate Communications
O: 888.876.9300
E: lgiovannielli@biohitech.com
www.biohitech.com
Investors:
ir@biohitech.com
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SOURCE BioHiTech Global, Inc.