Brief: Biohitech Global Signs Agreement To Up Ownership Stake In Hebiot Renewable Resource Recovery Facility

Renovare Environmental

29/11/2018 13:56

Nov 29 (Reuters) - BioHiTech Global Inc  BHTG.O :
    * BIOHITECH GLOBAL SIGNS DEFINITIVE AGREEMENT TO INCREASE
ITS
OWNERSHIP STAKE IN THE NATION'S FIRST HEBIOT RENEWABLE RESOURCE
RECOVERY FACILITY
    * BIOHITECH GLOBAL INC - FACILITY IS EXPECTED TO COMMENCE
OPERATIONS IN DECEMBER AND ADD $7 MILLION OF ANNUAL HIGH MARGIN
REVENUE
    * BIOHITECH GLOBAL INC - MARTINSBURG FACILITY IS EXPECTED TO
BEGIN
COMMISSIONING PROCESS IN DECEMBER 2018 AND TO RAMP PRODUCTION
THROUGHOUT Q1 OF 2019
    * BIOHITECH GLOBAL INC - ENTERED AGREEMENT TO ACQUIRE AN
ADDITIONAL 26.8% OWNERSHIP STAKE IN MARTINSBURG FACILITY
    * BIOHITECH GLOBAL INC - MARTINSBURG FACILITY IS EXPECTED TO
BEGIN
COMMISSIONING PROCESS IN DECEMBER 2018 AND TO RAMP PRODUCTION
THROUGHOUT Q1 OF 2019
    * BIOHITECH GLOBAL - BUYING MORE STAKE FOR ISSUANCE OF ABOUT
$1.9
MILLION IN BIOHITECH PREFERRED STOCK, CONVERTIBLE INTO COMMON
STOCK AT $2.64/SHARE

Source text for Eikon:  ID:nPn3S5cN9a 
Further company coverage:  BHTG.O 

 (Reuters.Briefs@thomsonreuters.com)