New American Energy, an alternative energy and sustainability asset manager, is co-located in Tulsa, OK and New York, NY. The Firm's managed funds are co-advised by alternative energy and clean technology investment bank Ardour Capital Investments.
Image by Gerd Altmann from Pixabay
Through its leading hedge fund, NAE Sustainability I, LP, the firm entered into a Securities Purchase Agreement with BioHiTech Global (NASDAQ: BHTG) for its newly created Series F Redeemable Preferred Stock and warrants to purchase Common Stock issued in March 2020.
New American Energy seeks significant, long-term relationships with companies who directly or indirectly provide critical services that benefit from an inelastic supply curve tied to population growth and commercialization of technology. The firm's investment team is led by Co-Chief Investment Officers Walter Nasdeo and Andrew Gold, and Head Trader Nicholaus Rohleder.
"New American Energy is proud to show its commitment to BioHiTech during this time of turbulence and uncertainty," said the New American Energy team. "BioHiTech is uniquely positioned with high-quality technology to commercialize an innovative solution to the global waste crisis. Despite current recessionary fears emanating from the coronavirus outbreak's impact on the global economy, the pressure to transition to a circular waste economy has not dissipated. In addition to this, landfill regulatory governance and capacity constraints have not eased during this time. BioHiTech Chief Executive Officer Frank E. Celli has an excellent track record operating at commercial scale in the waste sector throughout economic cycles. We are fully behind Frank and his team and look-forward to a long-term partnership."
About BioHiTech Global
BioHiTech Global, Inc. (NASDAQ: BHTG), is changing the way we think about managing waste. Our cost-effective technology solutions include the patented processing of municipal solid waste into a valuable renewable fuel, biological disposal of food waste on-site, and proprietary real-time data analytics tools to reduce food waste generation. Our unique solutions enable businesses and municipalities of all sizes to lower disposal costs while having a positive impact on the environment. When used individually or in combination, our solutions lower the carbon footprint associated with waste transportation and can reduce or virtually eliminate landfill usage. For more information, please visit www.biohitech.com.
About New American Energy
New American Energy is an alternative energy and sustainability asset manager with offices in Tulsa OK, New York, NY, and London, UK. Through its managed funds, NAE invests in global listed securities and participates in select structured investments across the alternative energy value chain. NAE's team is comprised of senior energy, engineering, and capital markets professionals dedicated to decreasing the global carbon footprint while also delivering superior risk-adjusted returns. For more information, please visit us at www.newamenergy.com.
View the source version on PR Newswire:
https://www.prnewswire.com/news-releases/new-american-energy-an-alternative-energy--sustainability-asset-manager-announces-its-participation-in-sustainable-waste-solutions-provider-biohitech-globals-recent-1-5-million-series-f-preferred-convertible-issuance-301041833.html
