BioHiTech presses ahead with plans to build waste processing facility in upstate New York

The waste management services company BioHiTech Global Inc (NASDAQ:BHTG) announced Tuesday that its subsidiary Rensselaer Resource Recovery is pressing ahead with plans to build a new waste processing facility for the city of Rensselaer, New York.

The planned HEBiot facility is set to generate about US$12mln in yearly revenue as the system converts roughly 40% of the mixed municipal waste into a solid recovered fuel, approved by the Environmental Protection Agency. It also reduces waste sent to landfills by as much as 80%, according to BioHiTech’s calculations.

BioHiTech controls the US development rights in eleven states as well as Washington DC for the patented HEBiot technology, which was first developed by a private Italian company Entsorgafin.

The company’s shares jumped 17.4% to US$3.64 in afternoon trading.

Read: BioHiTech Global sees 2Q net loss widen, but revenue jumps on sales boost

The city of Rensselaer’s city planning commission voted 5-0 to approve the project which included an environmental review as well as a special use permit. But BioHighTech is now seeking final permit approval from the State of New York to begin construction on the project.

“We look forward to working with the State of New York to finalize the permitting process and bring this project to its fruition, said BioHiTech’s CEO Frank Celli in a statement.

If approved, the 72,000 square foot facility will sit on 23 acres of land in Rensselaer’s southern industrial area.

Based in Chestnut Ridge, New York, BioHiTech offers sustainable waste disposal systems for businesses and municipalities.

Story by ProactiveInvestors