BioHiTech Global Inc (NASDAQ: BHTG) announced some pretty big news this morning. The company announced that it has received a new patent, further protecting its intellectual property. Today, we’ll talk about:
- The patent;
- what it means for BHTG;
- and what we’ll be watching for with regard to the stock ahead.
BHTG Announces Patent News
As mentioned above, BioHiTech Global made a key announcement this morning. In a press release issued early, the company announced that it has received a new patent from the United States Patent and Trademark Office (USPTO). In the release, BHTG said that the patent surrounds a network connected weight tracking system for a waste disposal machine.
The new patent, U.S. Patent NO. 9,977,414, surrounds a food waste weight tracking system and method using a waste disposal machine with data network connectivity to transmit weight tracking system information over a computer network or cloud for storage, tracking aggregation and sharing by a centralized computer system. In a statement, Frank E. Celli, CEO at BHTG, had the following to offer:
Having this 414 Patent in hand is a major competitive advantage for BioHiTech as we now have the only integrated solution to measure food waste volumes directly from a disposal unit, such as our aerobic digesters or any other PLC controlled food waste disposal device, and share that data for analysis immediately via any network or the cloud… Food waste data is becoming increasingly more important to customers, not only for improving efficiency through better supply chain management, but also for providing evidence of compliance in those areas where disposal of food waste is regulated by the government. We believe our patented methodology checks all the boxes making it the simplest, smartest and most cost effective way to dispose of food waste in a sustainable manner for the environment. We have additional patents pending as part of our IP protection strategy and will continue our product innovation efforts to further enhance our competitive advantage, drive future revenue growth, and build lasting value for our stockholders.
Why This Patent Is So Important
At the end of the day, patents are key to the protection of intellectual property owned by any entity. In this particular case, BioHiTech is working to improve the way in which we look at waste by turning waste into energy. This particular weight tracking system will help the company systematically process waste, tracking it every step of the way to ensure efficiency. As the world continues to move toward a cleaner, more environmentally friendly lifestyle, this type of tracking and efficiency will be key.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on BHTG. In particular, we’re interested in following the growth of the company’s product as it will not only lead to a more environmentally friendly way to handle waste, it also has the potential to generate an incredible profit. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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