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BioHiTech Global Shares Surge As It Expands Carnival Corp Relationship

Updated: 18 Mar 2021

Shares of sustainable technology and services company BioHiTech Global (NASDAQ: BHTG) are surging premarket after the company said it has expanded its relationship with Carnival Corporation (NASDAQ: CCL), mutually committing to providing the company's technology to different brands across its fleet.

BioHiTech has received two purchase orders from Carnival, for the Revolution Series food digesters, totalling over $1.8 million, covering 15 ships, including two from UK-based Cunard Cruises and four from Italy-based Costa Group for their Costa Cruise Line.

The company anticipates fulfilling these orders during the second and third quarters of 2021.

BioHiTech Global's share price is up almost 49% premarket at $2.80.

“These orders expand our worldwide reach and continues to support Carnival's commitment to sustainable food waste management and environmental compliance,” commented Tony Fuller, BioHiTech's CEO.

“Including the most recent purchase orders, BioHiTech has received more than $8.4M in purchase orders from Carnival and we anticipate a continued rollout of our onboard bio-digester and analytics solution to the remaining ships under the Carnival umbrella,” he added.

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