Business & Finance
Business and Finance
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Wed, May 13, 2009
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BIOREM awarded $1.3 million in new orders
GUELPH, ON, May 27 /CNW/ - BIOREM Inc. (TSXV:BRM) announced today the receipt of two recent orders totaling $1.3 million for projects in the midwest and western coast of the United States. These systems will use biofiltration technology to treat odors at wastewater treatment plants to meet stringent air pollution control requirements. Two biofilters at the mid-west location will treat emissions from headworks and biosolids sources. The larger biofilter in the West coast will treat over 44,000 cfm of polluted air streams. All three units will utilize Biorem's inorganic Biosorbens(R) media. "During these economic times, Biorem's products and technology strengths come to the forefront as we continue to be awarded new orders and grow our booking totals." said Peter Bruijns, President and CEO. "More than 75% of these projects are expected to revenue in 2009." 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 ]. 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 "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. %SEDAR: 00020304E
For further information: Ed Corbett, Chief Financial Officer, BIOREM Technologies Inc., [ ecorbett@biorem.biz ], Tel: (519) 767-9100 x275
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