Global Food Waste Management Infused with Smart Waste Technologies Projected to Near $75 Billion by 2025
PALM BEACH, Florida, April 24, 2018 /PRNewswire/ --
MarketNewsUpdates.com News Commentary
The global food waste management market is forecast to experience considerable growth over in the coming years as the industry is projected to reach USD 73.08 billion by 2025, growing at a CAGR of 11.35% from 2018 to 2025, according to Market Insight Reports. Market factors for food waste management expected continued growth include increased need for hotel chains and restaurants generating high volume of waste through due to increased consumption as well as being segmented on the basis of application of recycled products generated. The different process generates organic products which have high demand in applications such as animal feeds, renewable energy, and surge in demand is supplemented by growing application of disposal in fertilizers manufacturing. Renewable sources of energy, mainly biogas is gaining the focus on account of its clean form and economical processing cost. Growing concerns about environmental impact and feeding rising population in developing economies while reducing the consumption losses are expected to propel market growth over the next few years. Active companies in the markets this week include BioHiTech Global, Inc. (NASDAQ: BHTG), Waste Connections Inc. (NYSE: WCN), Republic Services Inc. (NYSE: RSG), NRG Energy Inc. (NYSE: NRG), Covanta Holding Corporation (NYSE: CVA).
BioHiTech Global, Inc. (NASDAQ: BHTG) BREAKING NEWS: BioHiTech Global, a technology and services company that provides cost-effective and sustainable waste management solutions today announced that the Company has been selected as a pre-approved supplier of food waste digesters for a major international hotel chain ("Hotel Chain") and has received orders from several UK properties for a total of six digesters for delivery in Q2 2018 and expects to deliver a minimum of 20 units in 2018.
As a pre-approved supplier, BioHiTech has begun its initial marketing efforts for its Revolution Series and Eco-Safe Digesters equipped with its proprietary supply chain data analytics software to the more than 150 individual hotel properties located throughout the UK. The Company believes this agreement will lead to an acceleration in the adoption of its proprietary sustainable food waste disposal solutions in this key European market and anticipates a progressive expansion over time into additional markets serviced by the Hotel Chain.
"We are excited to work with environmentally driven companies that not only understand the importance of sustainable waste disposal but also see the value in utilizing data analytics to reduce waste generation," said Frank E. Celli, Chief Executive Officer of BioHiTech Global. "We believe that the integration of our technology driven solutions into these first six locations is an important first step in helping this valued customer achieve its sustainability goals while reducing costs associated with disposal and generation of excess waste. It will also serve as a as an example for other hospitality companies in the European region to follow for the future." Read this and more news for BHTG at http://www.marketnewsupdates.com/news/bhtg.html
BioHiTech Global Was Featured on NASDAQ for Earth Day this past Friday.See the Full Video Here. (https://www.facebook.com/Nasdaq/videos/10156213066267429/)
In other industry news and developments:
Waste Connections Inc. (NYSE: WCN) last posted its earnings results on Wednesday, February 14th. The business services provider reported $0.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of $0.49 by $0.03. Waste Connections had a return on equity of 9.63% and a net margin of 12.46%. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the prior year, the company earned $0.46 EPS. Waste Connections's revenue was up 10.4% on a year-over-year basis. The company operates through six segments: Southern, Western, Eastern, Canada, Central, and Exploration and Production (E&P). It offers collection services to residential, commercial, municipal, industrial, and E&P customers; landfill disposal services; and recycling services for various recyclable materials, including compost, cardboard, office paper, plastic containers, glass bottles, and ferrous and aluminum metals. Read more here
Republic Services Inc. (NYSE: RSG) as of April 23 had a market capitalization of $21.74B at the rate of $65.55 a share. RSG's sales have annually surged 4.30% on average, however its earnings per share growth remained at 9.10%. Republic Service, together with its subsidiaries, provides non-hazardous solid waste collection, transfer, recycling, disposal, and energy services for small-container, large-container, municipal and residential, and energy services customers in the United States and Puerto Rico. The company's collection services include curbside collection of waste for transport to transfer stations; supply of waste containers; and renting of compactors.
NRG Energy Inc. (NYSE: NRG) recently announced a quarterly dividend on the Company's common stock of $0.03 per share, or $0.12 per share on an annualized basis. The dividend is payable on May 15, 2018 to stockholders of record as of May 1, 2018. NRG is the leading integrated power company in the U.S., built on the strength of our diverse competitive electric generation portfolio and leading retail electricity platform. A Fortune 500 company, NRG creates value through best in class operations, reliable and efficient electric generation, and a retail platform serving residential and commercial businesses. Working with electricity customers, large and small, we implement sustainable solutions for producing and managing energy, developing smarter energy choices and delivering exceptional service as our retail electricity providers serve almost three million residential and commercial customers throughout the country.
Covanta Holding Corporation (NYSE: CVA) recently announced it has been awarded a contract for the New York Department of Environmental Conservation's (DEC) Pilot Pharmaceutical Take Back Program. The five-year program, which commences this month, allows for the installation of kiosks at 250 retail pharmacies, hospitals and long-term care facilities across New York State where consumers will be able to return unused and expired medications for safe and secure disposal. Covanta Environmental Solutions is responsible for the collection and disposal from participating locations. Collected medications will be processed at Covanta's Energy-from-Waste facilities. Covanta's facilities are uniquely suited for the DEC's initiative as they have a long history of handling the secure destruction of pharmaceutical and controlled drug substance waste regulated by the Drug Enforcement Agency (DEA).
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