BIOHITECH GLOBAL, INC. (OTCMKTS:BHTG) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement.
On January 24, 2020, BioHiTech Global, Inc. (the “Registrant”) received a fully executed Product and Service Supply Agreement (the “Agreement”) with Carnival Corporation, Carnival plc and specific of their operating companies (“Buyer”). Under the Agreement, the Registrant, through its wholly owned subsidiary BioHiTech America, LLC (“Seller”) agreed to sell its Revolution Series Digesters at volume pricing initially based upon a tier between 200 and 400 digesters over a term extending through November 30, 2023. In the event that Buyer fails to reach the discount tier pricing initially utilized in selling digesters, Buyer is obligated to pay Seller an amount equal to the difference between the appropriate discount tier pricing and the actual price paid. In the event that Buyer exceeds the discount tier pricing initially utilized in selling digesters, Seller is obligated to credit Buyer an amount equal to the difference between the appropriate discount tier pricing and the actual price paid. A copy of the Agreement is attached as Exhibit 10.1 to this Current Report and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
| 10.1 | Product and Service Supply Agreement between BioHiTech America LLC and Carnival Corporation, Carnival plc and specified operating companies dated December 18, 2019. (Certain portions of this Exhibit 99.1 have been omitted) |
BIOHITECH GLOBAL, INC. Exhibit
EX-10.1 2 tm205892d1_ex10-1.htm EXHIBIT 10.1 Exhibit 10.1 In accordance with Item 601 (b)(10)(iv) certain portions,…
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About BIOHITECH GLOBAL, INC. (OTCMKTS:BHTG)
BioHiTech Global, Inc. provides an environmentally friendly solution for food waste disposal. The Company, through its subsidiaries, BioHiTech America, LLC and BioHiTech Europe Limited, offers its customers various technologies integrating technological, biological and mechanical engineering solutions for the control, reduction and/or reuse of organic waste. It has a distribution license to sell, lease, use, distribute and manufacture the Eco-Safe Digester product. The Eco-Safe Digester is a data-driven, network-based mechanical/biological technology, which transforms food waste into nutrient-neutral water that can be disposed of via conventional sanitary sewer systems. The Eco-Safe Digester may be used by businesses in food service, hospitality, healthcare, government, conference centers, education centers or stadiums. Its Internet enabled system, the BioHiTech Cloud, streams data from the digesters, collects information from system users and integrates business application data.