Visionary Private Equity Group
Investor Update - BioHiTech Global Update
Dear VPEG Limited Partner,
We hope this investor update finds you well. We're pleased to share with you important information below on the following:
- BioHiTech Global Record Quarterly Growth Update
BioHiTech Global Sets Quarterly Record With 20 New Eco-Safe Digester Orders from Commercial Customers Across the United States & Abroad in the First Quarter of 2016
Camelback Resort, America's Most Interactive Mountain Resort with Over 1 Million Annual Outdoor Enthusiasts & Visitors Drives New Initial Orders
BioHiTech Global, Inc. ("BioHiTech") (OTCQB: BHTG), a green technology company that provides innovative data-driven solutions for food waste disposal, recorded a new quarterly record with 20 new Eco-Safe Digester orders from commercial customers across the United States and abroad in the first quarter of 2016. Camelback Resort, an interactive mountain resort in the Pocono Mountains has placed an initial order for two Eco-Safe Digesters adding to BioHiTech's family entertainment customer roster.
Camelback Resort comprises of Camelback Lodge and Aquatopia - the biggest indoor waterpark in the Northeast. The 453-room lodge compliments all mountain activities from skiing and snowboarding to Pennsylvania's largest outdoor water park and zip line adventures. Camelback Resort encompasses more year-round attractions and amenities in one location than any other mountain resort in the country.
"The use of this technology fits perfectly with our Green Camel initiatives," stated Steve Moberly, assistant general manager and F&B director. "As our family-minded customers continue to show interest in more sustainable solutions for our future, the efficient management of food waste is important to helping us achieve our long term sustainability goals."
Half of the Eco-Safe Digester orders in the first quarter were received from the U.S. market and will be deployed into a diverse mix of commercial applications including: hospitality, retail, healthcare, food service, and entertainment. International growth contributed to the remaining 50% of the orders; further expanding sales through both the company's European subsidiary, BioHiTech Europe, as well as its exclusive distributor for Mexico and Latin America, Avangard Innovative.
"We are pleased to see continued growth within our existing customer portfolio as well as the addition of distinguished corporate customers like Camelback Resort," said BioHiTech Global's CEO Frank E. Celli. "Camelback's installations help validate the role of our Eco-Safe Digester at various family entertainment resorts, assisting in the reduction of their carbon footprint as they welcome millions of visitors on an annual basis. The continued progress of both our European subsidiary and exclusive distribution partners is a positive indication that our cost-effective technology is becoming a more mainstream solution for the effective disposal of food waste outside of the US marketplace."
BioHiTech Global's sales momentum has resulted in a backlog(1) of 90 units as of March 31, 2016. The 20 Eco-Safe Digester orders in the first quarter of 2016 represent the company's single most productive non-government contract quarter since inception.
About BioHiTech Global
BioHiTech Global (OTCQB: BHTG), "The Company" headquartered in Chestnut Ridge NY, is a technology company that provides the transparency needed to prevent food waste as well as offer a sustainable means for its disposal. BioHiTech's data-driven solution offers businesses insight into their waste stream creating immediate opportunities to identify inefficiencies, improve operating results and advance sustainability initiatives within their company. For more information, please visit www.biohitech.com.
About Camelback Resort
In 1963 Camelback Mountain Resort opened in the Pocono Mountains with 14 trails and three lifts serving 41,656 skiers. Today Camelback serves nearly 1,000,000 outdoor enthusiasts and visitors annually with 34 named trails, 16 lifts, 100% snowmaking, the largest snow tubing park in the U.S.A., Camelback Mountain Adventures (featuring the only mountain coaster in Pa, and North America's longest twin 4,000 ft. Zip-Flyers) and Camelbeach Waterpark (the largest waterpark in Pa. Newly opened is the 453-suite Camelback Lodge & Aquatopia Indoor Waterpark featuring the largest indoor waterpark in the Northeast, adult and kids spas, and the ski-in/ski-out Trails End Pub & Grille. Imagine skiing and surfing in the same day! Combined with Camelback's winter and summer operations, Camelback Resort is now the most interactive mountain resort in the U.S.A. For more information, please visit www.camelbackresort.com.
Forward Looking Statements
Statements in this document contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on many assumptions and estimates and are not guarantees of future performance. These statements may involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of BioHiTech Global, Inc. to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. BioHiTech Global, Inc. assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Our actual results may differ materially from the results anticipated in these forward-looking statements due to a variety of factors, including, without limitation those set forth as "Risk Factors" in our filings with the Securities and Exchange Commission ("SEC"). There may be other factors not mentioned above or included in the Company's SEC filings that may cause actual results to differ materially from those projected in any forward-looking statement. BioHiTech Global, Inc. assumes no obligation to update any forward-looking statements as a result of new information, future events or developments, except as required by securities laws.
(1) Backlog units represents unfilled contractual orders of digesters, which excludes purchase options and announced orders for which definitive contracts have not been executed, for either retail sales or leases in excess of one year. As many elements enter into the timing of delivery, many of which are solely under the control of customers, actual revenues from all backlog units may not be immediately recognized.
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This update contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included in this update that address activities, events or developments that Visionary Private Equity Group I, LP ("VPEG") and the companies or ventures that it has invested (or target as an investment) (collectively, the “Companies") expect, believe or anticipates will or may occur in the future are forward-looking statements. Without limiting the generality of the foregoing, forward-looking statements contained in this update specifically include the expectations of management of VPEG and the Companies regarding plans, strategies, objectives, anticipated financial and operating results of VPEG and the Companies, and production and operating expenses guidance included in the update. These statements are based on certain assumptions made by VPEG and the Companies based on management's experience, technical analyses, current conditions, anticipated future developments and other factors believed to be appropriate and believed to be reasonable by management. When used in this update, the words “will,” “potential,” “believe,” “intend,” “expect,” “may,” “should,” “anticipate,” “could,” “estimate,” “plan,” “predict,” “project,” “target,” “profile,” “model” or their negatives, other similar expressions or the statements that include those words, are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of VPEG and the Companies, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, the “Risk Factors” disclosed in VPEG's private placement memorandum. Any forward-looking statement speaks only as of the date on which such statement is made and VEPG and the Companies undertake no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law.
An investment in VPEG involves a high degree of risk and other considerations and, therefore, should be undertaken only by investors capable of evaluating the risks of making such an investment and bearing the risks, it represents. As an investor in VPEG you have carefully consider the information provided in this update; however, as a sophisticated investors you acknowledge that you have relied upon your own examination of and ability to understand the nature of this update, and your investment in VPEG, including the risks involved, in making a decision to invest in VPEG. There can be no assurance that VPEG will be able to achieve its investment objective or that investors will receive any return on or of their capital.