GUELPH, ON, Dec. 7 /CNW/ - BIOREM Inc. ("Biorem" or "the Company") (TSX-V: BRM) announced today that it received four international orders for its air emissions control systems ("the Systems"), totaling C$1.2 million in value. The orders were booked in the month of November and were led by a $700 thousand municipal odor control project. The Systems cover the diverse nature of applications ranging from a petrochemical volatile organic compound removal project in Brazil, to an advanced two-stage biofiltration project at a wastewater treatment facility in South Africa. The other orders came from Ecuador and Israel. Biorem has an established presence in all of these markets. The units are expected to be shipped to site and fully operational in the second quarter of 2010.
"We are pleased to report substantial progress in advancing our organic growth bookings internationally," said Peter Bruijns, President and CEO. "These new orders reinforce management's strategy to expand Biorem's reach via product development and applications, as well as through geographic diversification. As a result of our strengthening competitive position in global markets and cost effective technologies, our Middle Eastern order marks our second contract win from the same customer. We will continue to develop our existing relationships to facilitate repeat business. Our international sales force will be a key driver in growing our sales in existing markets and penetrating new geographic markets."
About BIOREM Inc.
BIOREM designs and manufactures air emission control systems, including biofiltration and biotrickling systems that safely remove harmful contaminants such as Hydrogen Sulfide, Reduced Sulfur compounds, and Volatile Organic Compounds from the air. Our systems are environmentally friendly, clean and sustainable all the while reducing greenhouse gas emissions. With more than 600 installed systems worldwide, continued extensive research efforts and over 15 years of experience, BIOREM not only offers state-of-the-art technology-based products but also peace of mind for municipalities and 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.
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.
SOURCE BIOREM Inc.
For further information: For further information: Ed Corbett, Chief Financial Officer, BIOREM Technologies Inc., email@example.com, Tel: (519) 767-9100 x275; Adriana Braczek, Investor Relations, The Equicom Group Inc., firstname.lastname@example.org, Tel: (416) 815-0700 x240