Palm Beach, FL – (December 04, 2018) — The market for renewable energies continues to develop and evolve as the demand for sustainable fuel sources continues to rise in light of economic and political pressures. According to the International Energy Agency, over $1.8 trillion was spent on clean and renewable energies in 2017. The rising level of investment is being driven by an increased emphasis on developing environmentally friendly energy sources as society steadily distances itself from traditional fossil fuels. An increased emphasis on sustainability is driving prominent growth, while tech and energy leaders are also recognizing the recurring value in renewable energy sources and the ability to convert waste into output. Perfect example is in Entsorga West Virginia, where a resource recovery facility will process mixed municipal solid waste (MSW) into a clean-burning fuel that is ready to begin operations very soon. Renewable energy usage has doubled in the United States since 2008, illustrating just how quickly this market is developing.. Active companies in the markets this week include BioHiTech Global, Inc. (NASDAQ:BHTG), Vivint Solar Inc. (NYSE:VSLR), Enphase Energy Inc. (NASDAQ:ENPH), Waste Management Inc. (NYSE:WM), 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 that BioHiTech’s Entsorga West Virginia, LLC (“EWV”) subsidiary has completed an $8 million tax-exempt bond financing to finalize construction and commence operations at the nation’s first HEBioTtm renewable resource recovery facility located in Martinsburg, West Virginia (the “Martinsburg Facility”).
Ziegler, a privately held investment bank, capital markets and proprietary investments firm, acted as sole placement agent for the $8,000,000 Series 2018-A tax-exempt bonds issued on behalf of EWV. BioHiTech recently entered into a definitive agreement to become the largest owner of EWV which the Company expects to close in the coming weeks. Other minority partners include: Apple Valley Waste Technologies, a portfolio company of Kinderhook Industries, LLC, and Entsorga USA, a company owned by the principals of the Italian engineering firm that developed the HEBioT technology. Another Kinderhook portfolio company, Apple Valley Waste, an affiliate of Apple Valley Waste Technologies, will be providing feedstock and certain business services for the operations.
The Martinsburg Facility is expected to begin commissioning in December 2018 utilizing a patented high efficiency mechanical and biological treatment process (“HEBioT Process”) for the disposal and recycling of mixed municipal solid waste into an EPA approved solid recovered fuel (“SRF”). Upon becoming fully operational, the facility will have a capacity to accept up to 120,000 tons per year of inbound municipal solid waste, converting as much as 45% of that waste into a SRF that is contracted to be sold to a multi-billion dollar cement company with operations nearby.
BioHiTech plans to build a series of facilities utilizing the patented HEBioT process in the US in the coming years. A second site is currently under development in Rensselaer, NY with other potential locations in early stage planning.
Commenting on the financing, Frank E. Celli, Chief Executive Officer of BioHiTech Global stated, “We are excited to have EWV complete the last stage of financing prior to completion of the Martinsburg Facility. The opening of this facility will represent a new sustainable direction for the waste management industry in the United States and we look forward to leading the way toward a more responsible approach to waste disposal along with our partners at Gold Medal and Entsorga.” Read this full announcement and more news for BHTG at: https://www.financialnewsmedia.com/news-bhtg/
It was also reported this week that Gold Medal Group and its wholly-owned subsidiaries, a portfolio company of Kinderhook Industries, LLC and its minority partner BioHiTech Global, Inc. announced the acquisition of Apple Valley Waste Services, Inc. (“Apple Valley”). The transaction represents Kinderhook’s 36th investment in the environmental services sector. Apple Valley is a leading solid waste company that offers collection, processing, disposal, and recycling services throughout the Mid-Atlantic region. Apple Valley services residential and commercial customers in West Virginia under certificates of necessity issued by the Public Service Commission of West Virginia and provides residential and commercial waste collection services in large metropolitan areas such as Baltimore, Washington, D.C., and Southern Pennsylvania.
Additionally 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
In other industry news and developments and companies to watch:
Advanced Disposal Services Inc. (NYSE:ADSW) closed down slightly on Monday at $26.77 trading over 500,000 shares by the market close. 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., we provide integrated, non-hazardous solid waste collection, recycling and disposal services to residential, commercial, industrial and construction customers across 16 states and the Bahamas. Our team is dedicated to finding effective, sustainable solutions to preserve the environment for future generations.
Enphase Energy Inc. (NASDAQ: ENPH) received coverage late last weed by the Motley Fool in an article report it’s been quite the year for Enphase Energy (NASDAQ: ENPH), which has seen its shares more than double since the start of 2018. Stretch back just a bit further and the stock has gained over 400% since the beginning of 2017. Fueling the gains is an order-of-magnitude improvement in profitability. The business reported an operating loss of $3.4 million through the first nine months of 2018, a nearly 11-fold improvement from the $37.2 million operating loss coughed up in the year-ago period.
Vivint Solar Inc. (NYSE:VSLR) recently announced it has installed 1 gigawatt (GW) of solar energy systems since its launch. The company installed 1 GW in just seven years, making it one of the fastest residential solar providers to reach this significant milestone. Founded in 2011, Vivint Solar has become a national leader in residential solar, helping more than 146,000 customers in 22 states enjoy the benefits of affordable, renewable energy.
Waste Management Inc. (NYSE: WM) recently announced that its new Reeves County Solids and Liquids Injection Facility, designed for the safe disposal of oilfield wastes, is now fully operational. “Our Reeves County facility is the first Waste Management Energy Services slurry injection site to service the oil and gas industry,” said Scott Bradley, Area Vice President for Waste Management’s Four Corners Market Area. “The state-of-the-art technologies and processes effectively and safely handle and dispose of waste generated by oilfield exploration and production operations, thus minimizing the risks of storage.” Located within the Permian Basin, where more than half of the U.S. oil rigs are, the Waste Management Energy Services facility is on a 230-acre site in Balmorhea, Texas. As an injection disposal operation, it requires substantially less surface footprint than a more traditional landfill. The operation currently has 15 employees.
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