Global Spending on Clean Energy Solutions Could Be Outpacing Fossil Fuels
Palm Beach, FL – (November 29, 2018) — It is no secret that there has been a resounding shift in the global economic landscape to a cleaner, renewable energy focus as opposed to traditional methods such as fossil fuels. According to a report by the International Energy Agency, global spending on the development of clean energy sources is outpacing that of fossil fuels, with over $297 billion invested in the space in 2016. Demand for renewable energy is expected to increase 7% to 30% by 2022, according to the IEA. An increased emphasis on accountability and sustainability is driving this prominent growth, and energy leaders are also recognizing the recurring value in renewable energy sources and the ability to convert waste into output. One of the first areas in the country, Entsorga West Virginia will start turning tons of solid waste into usable fuel beginning the first quarter of next year. The project is the first of its kind and the method comes from Europe and is expected to convert plastic and other carbon-based materials into fuel. Active companies in the markets this week include BioHiTech Global, Inc. (NASDAQ:BHTG), Clean Energy Fuels Corp. (NASDAQ:CLNE), Enphase Energy Inc. (NASDAQ:ENPH), Casella Waste Systems Inc. (NASDAQ:CWST), Advanced Disposal Services Inc. (NYSE:ADSW).
BioHiTech Global, Inc. (NASDAQ:BHTG) BREAKING NEWS: BioHiTech Global, a technology and services company that provides cost-effective and sustainable waste management solutions, today announced it has entered into a definitive agreement (the “Agreement”) to acquire an additional 26.8% ownership stake in the nation’s first HEBioTtm renewable resource recovery facility located in Martinsburg, West Virginia (the “Martinsburg Facility”).
The acquisition will make BioHiTech the largest owner of the Martinsburg Facility and enable the Company to consolidate an estimated $7 million in annual high margin revenue generated by the operations in its financial statements beginning in 2019. The Company is acquiring the additional ownership stake in the Martinsburg Facility from Entsorga USA in exchange for the issuance of approximately $1,886,000 in BioHiTech preferred stock, convertible into BioHiTech common stock at a fixed price of $2.64 per share. Entsorga USA, a company owned by the principals of the Italian engineering firm that developed the HEBioT technology, will remain as a minority owner of the Martinsburg Facility.
The Martinsburg Facility is expected to begin the commissioning process in December 2018 and to ramp production throughout the first quarter of 2019. The facility utilizes a patented high efficiency mechanical and biological treatment process (“HEBioT Process”) for the disposal and recycling of mixed municipal solid waste (MSW) into an EPA approved solid recovered fuel (“SRF”). The HEBioT Process is expected to divert from landfills as much as 80% of the waste that enters the facility. The Martinsburg facility has secured ten year agreements for both the supply of MSW from a regional hauler and the off-take of the SRF production by a multi-billion dollar cement company with operations nearby.
The Martinsburg facility is the first of a series of facilities utilizing the patented HEBioT process that BioHiTech plans to build in the US in the coming years. The Company controls the exclusive development rights to the HEBioT technology in 12 Northeastern states and the District of Columbia. A second site is currently under development in Rensselaer, NY with other potential locations in early stage planning.
Commenting on the agreement, Frank E. Celli, Chief Executive Officer of BioHiTech Global stated, “Becoming the largest owner of the Martinsburg Facility is a transformative event for our Company and we are excited to begin the full US commercialization of this important environmentally friendly disposal technology. Not only will these operations add significant high margin revenue to BioHiTech’s financials in 2019, but it will also serve as a showplace for our future roll-out in the US. With plans to add additional facilities, including Rensselaer and potentially Philadelphia in the coming years, we now have a solid roadmap for progressive revenue and EBITDA growth from our HEBioT business. We are more confident than ever that this will enable us to change the waste management industry and build significant value for our stockholders.” Read this full announcement and more news for BHTG at: https://www.financialnewsmedia.com/news-bhtg/
In additional developments for BioHiTech Global, a recent article published by Water & Wastes Digest that discussed how aerobic digester reduces global warming impact, it was reported The University of Delaware recently completed a Life Cycle Assessment of BioHiTech‘s aerobic digesters for food waste management. The study demonstrated how BioHiTech’s technology can significantly reduce the global warming impact of food waste disposal. WWD Associate Editor Sara Myers spoke with Emily Dyson, director of Science, Research and Development at BioHiTech, to talk about the study, aerobic digestion process as a whole, the trend of biogas capture and more.
BioHiTech launched its new subsidiary, Entsorga North America, which expands the company’s value proposition to include organic and inorganic waste streams and provides enterprise solutions to the residential and municipal marketplaces. The Entsorga North America venture will expand the company’s product offering towards providing disruptive, clean technology solutions that advance the global movement towards sustainability and zero waste initiatives
.Entsorga North America will manage Apple Valley Waste Conversions LLC, an Entsorga North America part-owned subsidiary, and the company that holds an exclusive license to deploy the Entstorga HEBioT Mechanical Biological Treatment (MBT) technology throughout the northeastern United States.
he HEBioT MBT system converts food waste, plastics and other carbon based materials from the mixed municipal solid waste (MSW) stream into a U.S. Environmental Protection Agency (EPA)-recognized alternative fuel source. The waste received at a facility is converted to a clean burning alternative fuel (Solid Recovered Fuel or SRF), which will be used as an alternative or supplement to fossil fuels. SRF is ideal for co-processing plants such as cement kilns and steel mills, as well as coal fired power plants, as a source for the production of renewable energy.
In other industry news and developments:
Clean Energy Fuels Corp. (NASDAQ:CLNE) recently announced its operating results for the quarter and nine months ended September 30, 2018. Andrew J. Littlefair, Clean Energy’s President and Chief Executive Officer, stated, “In the third quarter we improved financial operating results, including continued positive operating cash flows, launched the Zero Now Finance program with our new partner Total S.A., and gained additional customers across different markets. Zero Now Financing has tremendous potential because it gives heavy-duty truck fleets the opportunity to purchase clean natural gas trucks for the price of diesel trucks, while also allowing them to lock in a fixed discount to diesel. Subsequent to quarter end we also signed a significant joint marketing RNG deal with BP. We believe we are well positioned financially and anticipate rapidly growing our Redeem renewable natural gas business with the new BP deal and adding volume through the Zero Now Finance program.”
Enphase Energy Inc. (NASDAQ:ENPH) recently announced that it will be participating at the Bank of America Merrill Lynch Solar and Alternative Energy Symposium 2018 in New York, NY. Raghu Belur, co-founder and chief products officer of Enphase Energy, is scheduled to participate in one-on-one meetings and present at 3:45pm EST on Dec. 6, 2018. Enphase Energy, a global energy technology company, delivers smart, easy-to-use solutions that connect solar generation, storage and management on one intelligent platform. The Company revolutionized solar with its microinverter technology and produces the world’s only truly integrated solar plus storage solution. Enphase has shipped more than 18 million microinverters, and over 820,000 Enphase systems have been deployed in more than 120 countries.
Casella Waste Systems Inc. (NASDAQ:CWST) recently announced has acquired the assets of Boon & Sons, Inc. (“Boon”) and of Oceanside Rubbish, Inc. (“Oceanside”). Both transactions closed on November 1, 2018. Boon is a provider of residential, commercial and roll-off collection services in the Rochester, NY market. Oceanside is a provider of residential, commercial and roll-off collection services and operates a transfer station in the Southern, ME marketplace. In total, the Company expects to generate approximately $16 million of annualized revenues from the Boon and Oceanside acquisitions.
Advanced Disposal Services Inc. (NYSE:ADSW) came to a close up slightly on Wednesday with over 720,000 shares traded on the day. Advanced Disposal brings fresh ideas and solutions to the business of a clean environment. As the fourth largest solid waste company in the U.S., it provides integrated, non-hazardous solid waste collection, recycling and disposal services to residential, commercial, industrial, and construction customers across 16 states and the Bahamas. Its team is dedicated to finding effective, sustainable solutions to preserve the environment for future generations.
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