GUELPH, ON, June 22 /PRNewswire-FirstCall/ - BIOREM Inc.
("Biorem" or "the Company") (TSX-V: BRM) today announced that it
has received an order for its advanced biological-based volatile
organic compounds (VOC) abatement system, totaling just over
$500,000. VOCs are emitted primarily
from solvents and fuels and react in the atmosphere to form
ground-level ozone. This system will be used to remove VOC
emissions from an EPA designated "ozone-non-attainment area" in
the United States where
ground-level ozone standards are not being met.
"Our system was selected because it has the lowest carbon
footprint of any current abatement technology. Customers seeking
VOC abatement do not want technologies with high energy
requirements or that produce secondary pollutants, such as Nitrous
Oxides which typically result from Thermal Oxidation processes,
because they understand this only shifts the environmental impact,"
said Peter Bruijns, President and
CEO. "Securing this order in the VOC market demonstrates Biorem is
on track with our strategy to leverage our world-class technology
to expand and diversify into new markets."
Biorem has been developing next generation biological solutions
for the degradation of VOCs using biological techniques. The result
is a technology solution able to achieve up to 95% destruction of
VOCs using biological processes. Biorem has, to date, filed three
patent applications covering a number of innovations which will
provide a competitive advantage.
"The key commercial objectives to developing a clean technology
solution for the VOC market are to achieve performance and capital
cost parity with older green house gas producing technologies such
as Regenerative Thermal Oxidizers while fitting the biological
solution into a similar footprint. Biorem is also installing its
first full-sized commercial unit that meets these key criteria at
an automotive facility in Ontario
which will also be used as a demonstration site," said Bruijns.
As previously announced, the Company is concentrating on two new
major market segments: treating emissions of volatile organic
compounds and renewable energy (biogas purification). These two
combined markets are estimated to be $425
million annually in North
America, and will also provide significant opportunities in
China, where Biorem also
operates.
About BIOREM Inc.
Biorem is a leading clean technology company that designs,
manufactures and distributes a comprehensive line of
high-efficiency biological-based air emissions control systems.
These systems are used to eliminate odors, volatile organic
compounds (VOCs) and hazardous air pollutants (HAPs), and for the
conditioning of biogas renewable energy. With sales and
manufacturing offices across the continent, a dedicated research
facility, a worldwide sales representative network and more than
600 installed systems worldwide, Biorem not only offers
state-of-the-art technology-based products but also peace of mind
for municipalities, industrial companies and their surrounding
communities. Additional information on Biorem is available on our
website at www.biorem.biz.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Forward-Looking Statements
This press release contains forward-looking statements based on
current expectations. These forward-looking statements contain
various risks and uncertainties that could cause actual results to
differ materially from those reflected in the forward-looking
statements. Risks and uncertainties about the Company's business
are more fully discussed in the disclosure materials, financial
statements and MD&A filed with the securities regulatory
authorities in Canada on
www.sedar.com
Non-GAAP Measures
"Bookings" and "Backlog" do not have any standardized meaning
prescribed by Canadian generally accepted accounting principles
("GAAP") and may not be comparable to measures presented by other
companies. Bookings and Backlog are non-GAAP measures that the
Company uses to evaluate its sales performance. Bookings are those
binding contracts that the Company enters into with a third party
for the delivery of our products or services. As Bookings are
received, the contract value (before any associated sales taxes) is
included in the Backlog. The Backlog is reduced by the revenue that
is recognized on each project and then adjusted for any currency
changes.
SOURCE Biorem Inc.