The stock of biotechnology services company BioHiTech Global (BHTG) has been surging more than 45% today in premarket trading. BioHiTech stock closed the Wednesday trade at $1.88 after rising by 4.44 percent. But today’s rise in BHTG stock follows on the heels of BioHiTech expanding its current business ties to other regions of the world.
What was the collaboration?
BioHiTech Global provides cost-effective solutions that enhance environmental outcomes through sustainable technologies and services. BHTG’s proprietary waste solutions include patented processes to convert municipal solid waste into renewable fuel, biological waste to be collected on-site, and cutting-edge algorithms for reducing food waste production. By reducing carbon footprints associated with waste transportation, BioHiTech solutions can reduce or virtually eliminate landfill usage.
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In a joint statement, today BioHiTech Global and Carnival Corporation announced an expansion of their partnership to include additional brands and regions across the Corporation’s fleet. With these new orders from Carnival:
- More than $1.8 million in recent purchase orders have been placed for Revolution Series food digesters.
- Additionally, the purchase orders cover 15 additional ships, and also include four ships from Italy-based Costa Group and two from the United Kingdom-based Cunard Cruises.
- BiHiTech expects to meet these orders in the second and third quarters of 2021.
- BHTG has been fulfilling orders with Carnival swiftly and efficiently.
- These orders expand BHTG’s reach across the globe and continue to support Carnival’s sustainability campaigns and environmental compliance objectives.
What BHTG will be accomplishing?
More than $8.4M in purchase orders has been received by BioHiTech Global (BHTG) from Carnival including the latest orders. BHTG anticipates that the Carnival cruise ships will continue to be equipped with onboard biodigesters and analytics suites.