GUELPH, ON, June 25 /CNW/ - BIOREM Inc. (TSXV:BRM) announced today the
receipt of two industrial air pollution treatment contracts worth $800,000
near Tianjin and Shanghai, China. The Tianjin system will treat a complex air
stream from an industrial installation. The Shanghai biofilter system will
treat odorous and VOC compounds at a major industrial client with whom Biorem
has worked with in the past.
The repeat order in Shanghai affirms Biorem's performance and competitive
advantage and highlights an increasing acceptance of biological air pollution
technologies by leading international corporations. The Tianjin project opens
many other industrial opportunities for the company in future years.
"Our significant investment into building a presence in China is
beginning to show positive results in orders as well as a rapidly growing
pipeline of opportunities," says Peter Bruijns, President and CEO. "We will
continue to build relationships in China and are committed to seeing our
international business grow in China as well as other key regions."
Biological treatment of polluted air has made significant advances in the
removal of Volatile Organic Compounds (VOC's) in recent years with Biorem
being one of the leading research companies. Biorem now has systems installed
in many industrial sectors including food & beverage, pharmaceutical,
automotive, paint facilities, petrochemical and others. Biological air
pollution systems are now replacing older non-green technologies such as
Chemical Scrubbing, Activated Carbon and Thermal Oxidizers as advancements in
product development have improved the cost competitiveness.
It is anticipated that the revenue from these projects will be entirely
recognized for accounting purposes in the 2009 fiscal year.
About BIOREM Inc.
BIOREM(R) manufactures Biosorbens(R) biofilter media and is a leading
supplier of biofilters for air pollution control in municipal and industrial
applications, including BIOCUBE(R) modular units and Mytilus(R) biotrickling
filters. With over 600 installed systems and over a decade of experience, the
Company's products are the technology of choice for odor control at wastewater
treatment plants across North America. Additional information on BIOREM(R) is
also available at our web site at www.biorem.biz.
The TSX Venture Exchange Inc. has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release. The TSX
Venture Exchange Inc. has in no way passed upon the merits of the
proposed transaction and has neither approved nor disapproved of the
contents of this release.
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.
"Order Bookings" and "Order 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.
Order Bookings and Order Backlog are non-GAAP measures that the Company
uses to evaluate its sales performance. Order Bookings are those binding
contracts that the Company enters into with a third party for the delivery of
our products or services. As Order Bookings are received, the contract value
(before any associated sales taxes) is included in the Order Backlog. The
Order Backlog is reduced by the revenue that is recognized on each project.
For further information:
For further information: Ed Corbett, Chief Financial Officer, BIOREM
Technologies Inc., email@example.com, Tel: (519) 767-9100 x275