CHESTNUT RIDGE, N.Y.,
July 22, 2020 /PRNewswire/ --
BioHiTech Global, Inc. ("BioHiTech" or the "Company") (NASDAQ:
BHTG), a technology and services company that provides
cost-effective and sustainable waste management solutions,
announced today that the Company has expanded its financing
relationship with Crestmark, a division of MetaBank, N.A., a
leading business-to-business lender, and US Equity Funding, a full
service commercial financing firm, to begin offering equipment
lease financing for the Altapure AP-4™ high-level disinfecting
system.
The lease financing through Crestmark and US Equity Funding will
make the implementation of this technology more affordable to
potential customers in the markets BioHiTech services including
healthcare, hospitality, and education. Financing will only be
offered for customer contract applications that receive business
credit approval from either leasing company. Crestmark and US
Equity Funding currently offer BioHiTech customers lease financing
options for approved Revolution Series Digester rental contract
applications.
"We are excited to expand our relationship with Crestmark and US
Equity Funding for our new disinfecting distribution business,"
stated Frank E. Celli, CEO of
BioHiTech Global. "We believe this technology is the most
effective solution for achieving high-level disinfection of areas
such as infirmaries, guest or patient rooms, classrooms, and small
common spaces as part of any post-COVID safety protocol. And
now, with this equipment lease financing in place, it can be a much
more affordable option for helping businesses maintain a healthy
and safe environment for their employees and customers."
John C. McBride, Senior Vice
President of US Equity Funding stated, "We look forward to helping
BioHiTech expand its business in this important area.
COVID-19 has had a severe impact on economic activity in this
country and we are happy to use our collective expertise to
facilitate prompt, transparent financing to help organizations
address the new safety and health issues resulting from this
pandemic as they get back to business."
About the Altapure AP-4™
The Altapure AP-4™
is an enhanced, automated and touchless high-level disinfection
sub-micron aerosol system launched in 2017, providing a safe
process and rapid kill of spores, viruses, and vegetative bacteria,
such as but not limited to: COVID-19, Acinetobacter baumanii,
Pseudomonas aeruginosa, VRE, MRSA, Bacillus atrophaeus, Geobacillus
stearothermophilus, Polio virus, , C. auris and Clostridium
difficile (C. difficile). Extensive research and development
alongside Harris Corporation, formerly ITT Exelis, a top-tier
global aerospace, defense, and information solutions company,
resulted in the creation of a very unique and patented aerosol
generation technology that when coupled with the liquid
agent Altacare®, a reagent grade peracetic acid
solution, yields rapid and unparalleled results for high level
disinfection. Altapure is committed to providing its customers with
the highest quality products and processes in the marketplace that
are safe to use and are environmentally friendly. All of Altapure's
products are engineered, manufactured, and assembled in the
U.S.
About Crestmark
Crestmark provides innovative
financial solutions for businesses nationwide. Financing solutions
include asset-based lending, accounts receivable financing, lines
of credit, term loans, factoring, machinery/equipment financing and
equipment leasing. Crestmark has extensive experience in helping
many industries including transportation, manufacturing, staffing,
petrochemical, renewable energy, government contractors,
hospitality/hotels, insurance agencies, and technology
hardware/software. Crestmark, a division of MetaBank®, N.A., is
headquartered in Michigan, with
additional offices in California,
Florida, Louisiana, Tennessee, and Illinois; representatives nationwide; and a
Canadian foreign representative office. www.crestmark.com
About US Equity Funding, LLC
US Equity Funding, a
Boston based company, is a full
service commercial financing firm that provides lending, leasing
and advisory services to small and middle market businesses. The
company offers unparalleled expertise in the commercial
finance industry and brings over 100 years of combined experience
in the market-place, providing in-depth knowledge relative to
all aspects of commercial financing. The company's knowledge and
expertise in this field facilitates customized financing
solutions.
About BioHiTech Global
BioHiTech Global, Inc.
(NASDAQ: BHTG), is changing the way we think about managing
waste. Our cost-effective technology solutions include the
patented processing of municipal solid waste into a valuable
renewable fuel, biological disposal of food waste on-site, and
proprietary real-time data analytics tools to reduce food waste
generation. Our unique solutions enable businesses and
municipalities of all sizes to lower disposal costs while having a
positive impact on the environment. When used individually or
in combination, our solutions lower the carbon footprint associated
with waste transportation and can reduce or virtually eliminate
landfill usage. For more information, please
visit www.biohitech.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, including statements about the benefits of this leasing
program, potential improvements to cash flow, and the growth of its
digester business, are based on many assumptions and estimates that
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.
Company Contact:
BioHiTech Global, Inc.
Richard Galterio
Executive Vice President
Direct: 845.367.0603
rgalterio@biohitech.com
www.biohitech.com
Investors:
ir@biohitech.com
View original content to download
multimedia:http://www.prnewswire.com/news-releases/crestmark-and-us-equity-funding-expand-lease-financing-relationship-with-biohitech-to-include-the-altapure-ap-4-high-level-disinfecting-system-301097721.html
SOURCE BioHiTech Global, Inc.