CHESTNUT RIDGE, N.Y., Nov. 12, 2018 /PRNewswire/ -- BioHiTech Global, Inc. ("BioHiTech" or the "Company") (NASDAQ: BHTG), a technology and services company that provides cost-effective and sustainable waste management solutions, today announced that the Company has expanded sales efforts for its digester solutions to include the Maritime Industry.
The Maritime market segment includes large transport vessels, oil platforms, compressed natural gas carrier ships, and offshore drilling operations. With more than 50,000 merchant ships, 500 offshore rigs and 400 carrier ships currently in operation, this represents a very large opportunity market for BioHiTech. Additionally, these locations face unique challenges with regard to food waste disposal, including limited space for waste storage and waste processing equipment as well as water and power usage constraints making BioHiTech's digesters the perfect sustainable disposal solution.
BioHiTech's compact Revolution digesters are designed to handle this challenging environment, utilizing an aerobic digestion process that naturally breaks down food waste. Their durable design and smart technology ensure that machines stay working at sea, while minimizing the use of power and water. BioHiTech has seen early success to-date in this space, deploying its digesters in offshore drilling platforms and vessels in both the Persian Gulf and the Gulf of Mexico.
David Fenton, VP of Corporate Sales says, "The Maritime Industry represents a very large market opportunity for our technology. These vessels and platforms have rigorous demands in terms of convenience, sustainability, and reliability that make our digesters a great fit. Our Revolution Series Digesters are particularly attractive to these customers, especially on those vessels where space is at an absolute premium. We look forward to expanding our presence in the market as we continue to build our recurring revenue stream from this business as we head into 2019."
About BioHiTech Global
BioHiTech Global, Inc. (NASDAQ: BHTG), is changing the way we think about managing waste. Our innovative waste management services combined with our disruptive technologies provide sustainable waste disposal and supply chain management solutions for businesses and municipalities of all sizes. Our cost-effective technology platforms can virtually eliminate landfill usage through real-time data analytics to reduce waste generation, biological disposal of food waste at the point of generation, and the processing of municipal solid waste into a valuable renewable fuel. For more information, please visit www.bioihitech.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 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.
SOURCE BioHiTech Global, Inc.