What BioHiTech Global does

BioHiTech Global (NASDAQ: BHTG) is a vertically integrated waste management technology and services company headquartered in Chestnut Ridge, New York, founded in 2014. The company combines traditional waste services with proprietary technology solutions targeting five primary enterprise verticals: food service and hospitality, municipalities, grocery and retail, cruise lines, and healthcare facilities. Named customers include Carnival Corporation, Princess Cruises, Sprouts Farmers Market (deployed at 18 locations), Delaware North (including a sustainability award at Milwaukee's Miller Park), a major New York metropolitan healthcare facilities operator, the University of Delaware, Temple University, Lincoln Financial Field, and the Four Seasons Hotel Boston. The company employs a direct enterprise field sales motion supplemented by equipment lease financing through Crestmark (a MetaBank division) and US Equity Funding to reduce upfront CapEx for buyers.

The company operates three core technology platforms. (1) Revolution Series Digesters — compact aerobic digesters (Seed, Sprout, and Revolution models) plus the newer Sapling model for retail/grocery — provide on-site food waste disposal with integrated IoT sensors feeding the BioHiTech Cloud analytics platform. (2) HEBioT Facilities are resource recovery plants using a patented High Efficiency Biological Treatment process exclusively licensed (for 11 northeastern U.S. states and Washington, D.C.) from Italian technology partner Entsorgafin S.P.A.; the process converts mixed municipal solid waste into EPA-approved solid recovered fuel and diverts up to 80% of incoming waste from landfills. The first HEBioT facility commenced operations in Martinsburg, West Virginia in March 2019; a second HEBioT plant in Rensselaer, New York has received permit approval with projected annual revenue of approximately $12 million. (3) BioHiTech Cloud Services is an IIoT data analytics platform providing real-time waste monitoring, reporting, and an intelligent control system (BHTG Smart Mode Technology — patent pending). The company also distributes the Altapure AP-4 high-level sub-micron aerosol disinfection system under a 2020 partnership with Altapure, LLC, and has a registered BioHiTech API for third-party integration. The HEBioT subsidiary is co-owned with Kinderhook Industries (a private investment firm with over $2.0 billion in committed capital), which holds a 40% interest in exchange for $3.5 million cash plus ~$2 million in assets.

BioHiTech generates revenue through four primary streams: HEBioT resource recovery facility operations (managed services model, $892,899 in Q2 2020, more than threefold year-over-year growth), digester rental/service/maintenance (subscription/recurring, $356,033 in Q2 2020), one-time equipment sales, and management advisory and other fees. A newer revenue stream from Altapure AP-4 distribution began in 2020. Q2 2020 total revenue was $1.3 million, representing 21.2% year-over-year growth despite COVID-19 headwinds. The company is not yet profitable and reported negative stockholders' equity of $1.04 million as of Q2 2020 before a July 2020 public offering of $8.2 million strengthened the balance sheet. Disclosed funding history totals approximately $13.4 million across convertible debt, preferred stock, asset/cash contributions, and public equity raises, with Kinderhook Industries as the most significant institutional capital partner.

Name

BioHiTech Global

Legal name

BioHiTech Global, LLC

Website

https://biohitechglobal.com

Company type

Public

Founded year

2014

Operating status

Operating

Short description

BioHiTech Global (NASDAQ: BHTG) is a vertically integrated waste management technology company combining on-site food waste digesters, HEBioT municipal resource recovery facilities, and IoT-enabled data analytics for cruise lines, grocery chains, hospitality, healthcare, and municipal customers.

Ownership category

akta.pro rank

Product category

Waste Management Services

NAICS

Waste Treatment and Disposal (5622), Solid Waste Collection (562111), Remediation Services (562910)

SIC

Refuse Systems (4953), Sanitary Services (4950), Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Anaerobic Digestion (AD) & Biogas/RNG Production (Organics Feedstocks) (BPALAEAC)

akta.pro secondary industries

Food Waste Reduction & Diversion Services (Donation, Animal Feed, Source Reduction Programs) (EUAIAEAH), Anaerobic Digestion (Wet/Dry AD) & Biogas Production (EUAIAEAD), Industrial Waste-to-Energy (Non-Hazardous Process Wastes) (EUACAIAI), Anaerobic Digestion Biogas Power (Agricultural & Industrial AD) (EUACAIAD), Organics-to-Energy & CHP from Biogas (On-site Power/Heat) (EUAIAEAG)

Keywords

• Food waste digesters
• Resource recovery facilities
• Waste data analytics
• Renewable fuel processing
• Waste management services

Headquarters

HQ city

Chestnut Ridge

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Supply Chain, Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. HEBioT Resource Recovery Facility Operations: Revenue generated from the company's HEBioT resource recovery facility in Martinsburg, West Virginia, which processes municipal solid waste into EPA approved solid recovered fuel. Q2 2020 revenue was $892,899, representing more than threefold year-over-year increase.
2. Digester Rental, Service and Maintenance: Recurring revenue from rental, service and maintenance of Revolution Series Digesters. Q2 2020 generated $356,033. Q3 2017 recurring revenue from rental, service and maintenance grew by 15.8% year over year to $415,000.
3. Equipment Sales: One-time revenue from sale of food waste digesters and related equipment. Includes Revolution Series Digesters sold to customers including cruise lines and grocery chains.
4. Management Advisory and Other Fees: Revenue from management advisory services provided to related parties and other fee-based services.
5. Altapure Disinfection Products Distribution: Distribution revenue from the Altapure AP-4 high-level disinfecting system and related supplies. Began in 2020 as a new product category following partnership with Altapure, LLC.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels4 records

Core offering

BioHiTech Global develops and sells vertically integrated waste management solutions combining proprietary hardware, facility operations, and data analytics. The company sells on-site aerobic food waste digesters (Revolution Series including Seed, Sprout, and Sapling models), operates resource recovery facilities using its patented HEBioT process that converts municipal solid waste into EPA-approved solid recovered fuel, and provides the BioHiTech Cloud IIoT data analytics platform for real-time waste monitoring. The company also distributes the Altapure AP-4 high-level disinfection system and operates Gold Medal Environmental integrated waste services.

Product overview

BioHiTech Global is a vertically integrated waste management services company combining traditional waste services with disruptive technology solutions. The company operates across three main divisions: (1) BioHiTech Digesters - on-site aerobic food waste digesters including the Revolution Series (Seed, Sprout, Revolution) and Sapling models for food services, hospitality, healthcare, and grocery; (2) HEBioT Facilities - resource recovery facilities processing municipal solid waste into EPA-approved solid recovered fuel using patented mechanical and biological treatment technology, with facilities in Martinsburg, WV and planned in Rensselaer, NY; and (3) BioHiTech Cloud Services - IIoT-enabled data analytics platform providing real-time waste monitoring and optimization. Additional offerings include Gold Medal Environmental integrated waste services, the Altapure AP-4 high-level disinfection system (distributed product), and the BioHiTech API for third-party integration. The company serves diverse markets including restaurants, healthcare, municipalities, cruise lines, and hotels.

Differentiator

Problem solved

Functional benefit

Brands

• Revolution Digesters: Food waste diversion digesters for commercial and industrial use
• HEBioT Facilities
• BioHiTech Cloud Services
• Gold Medal Environmental
• Revolution Series
• Sapling Digester
• Altapure AP-4

Products and services

• Revolution Series Digesters
• Sapling Food Waste Digester
• HEBioT Resource Recovery Facility Operations
• BioHiTech Cloud Services
• Gold Medal Environmental
• Altapure AP-4 Distribution

Quantifiable outcome

• Up to 80% landfill diversion rate achieved through HEBioT process
• +4 more outcomes

Named customers10 records

Segments5 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

AI capability3 records

Feature5 records

Partnerships

Eight partnerships are on record, tiered key, core and minor.

• Altapure, LLCkeyTechnology or Integration · 1 January 2020BioHiTech entered into agreement with Altapure, LLC to distribute its patented line of environmentally-friendly, high-level disinfecting products including the Altapure AP-4 system. BioHiTech began conducting product demonstrations in June 2020 as part of this distribution partnership.
• Delaware NorthkeyChannel Partner/ Reseller/ Distributor · 25 September 2018BioHiTech partnered with Delaware North to deliver sustainable food waste solution using Revolution Series Digester and Data Analytics Platform. Partnership helped Milwaukee's Miller Park win Best Sustainability Initiative Award. Delaware North operates hotels and restaurants across the US.
• Gold Medal GroupcoreStrategic or Co-development Partner · 6 August 2018Kinderhook-backed Gold Medal Group acquired solid waste management and resource recovery facility in Philadelphia, with plans to transform the site into an Eco-Park for sustainable disposal services. BioHiTech sold 2.2% stake in Gold Medal Group for $2.25 million in July 2019.
• Waste Masters SolutionsminorChannel Partner/ Reseller/ Distributor · 1 January 2018Partnership with Waste Masters Solutions to complete digester installation at Lincoln Financial Field in Philadelphia.
• Entsorgafin S.P.A.coreTechnology or Integration · 2 November 2017BioHiTech completed acquisition of its first HEBioT renewable waste facility license from Entsorgafin S.P.A. for approximately $6.1 million in cash and common stock. BioHiTech holds exclusive U.S. development rights for the patented HEBioT solid waste processing technology in 11 northeastern states and DC.
• University of DelawarekeyStrategic or Co-development Partner · 2 October 2017University of Delaware completed Life Cycle Assessment of BioHiTech Digesters for food waste management. Study demonstrates how BioHiTech's aerobic digester technology can significantly reduce the global warming impact of food waste disposal. UD Dining Services has deployed BioHiTech digesters.
• Modern Waste ProductsminorChannel Partner/ Reseller/ Distributor · 26 September 2017Modern Waste Products agreed to offer BioHiTech's IIoT Data Analytics Platform on its Smart Compactors, expanding distribution of BioHiTech's smart waste management technology.
• MarathonminorStrategic or Co-development Partner · 13 June 2011Strategic alliance announced in 2011 to promote organic waste solutions, representing an early partnership for BioHiTech's digester technology.

Scale indicators10 records

Recent moves8 records

Expansion highlights8 records

Direct peers

• Divert, Inc. U.S. company that operates anaerobic digestion facilities and provides food waste prevention technology for grocery retailers and food service operators. Closely comparable to BioHiTech's Revolution Series Digesters and grocery vertical focus.
• Harvest Power: Operator of anaerobic digestion and composting facilities that convert organic waste into renewable energy and soil products. Comparable as a direct competitor in the organics-to-energy space that BioHiTech's HEBioT facilities address.
• GreenWaste Recovery: California-based integrated solid waste and recycling services company with organic waste processing capabilities. Comparable as a regional direct peer offering collection, recycling, and organics processing similar to BioHiTech's bundled offering.
• Wheelabrator Technologies: Operator of waste-to-energy facilities that process municipal solid waste to produce electricity, serving the same municipal customers as BioHiTech's HEBioT facilities. Directly comparable as an established waste-to-fuel competitor.
• Casella Waste Systems, Inc. Regional solid waste, recycling, and resource management company with a strong Northeast U.S. footprint. Directly comparable to BioHiTech because it overlaps with BioHiTech's exclusive HEBioT territory in the Northeast and operates resource recovery facilities at a similar mid-cap scale.
• Covanta Holding Corporation: Operator of waste-to-energy facilities that combust municipal solid waste to generate electricity. Closely comparable to BioHiTech's HEBioT line because both convert municipal solid waste into energy/fuel products, though Covanta uses incineration rather than BioHiTech's biological treatment process.

Broad incumbents

• Stericycle, Inc. Provider of regulated waste management services (including hazardous waste) and customer-facing waste solutions. Comparable as a broader incumbent addressing healthcare, retail, and commercial customers with overlapping waste compliance needs.
• Waste Management, Inc. Largest integrated waste services company in North America offering collection, transfer, recycling, and disposal (including waste-to-energy). Comparable because it operates the full waste value chain that BioHiTech targets with its HEBioT facilities and digesters, though at vastly greater scale and across a broader geographic footprint.
• Republic Services, Inc. Second-largest U.S. waste services company providing solid waste collection, recycling, and disposal, including landfill gas-to-energy projects. Comparable as a broad incumbent addressing the same municipal and commercial waste customers that BioHiTech serves.

Emerging players

• Rubicon Technologies: Software and services company providing smart waste and recycling routing technology to haulers and municipalities. Comparable as an emerging player that combines IoT/data analytics with traditional waste services, mirroring BioHiTech Cloud's data-driven approach.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about BioHiTech Global