Business and Finance
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Mon, August 31, 2009
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Fri, August 28, 2009
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Biorem showcases new clean air technology
GUELPH, ON, Aug. 28 /CNW/ - BIOREM Inc. ("Biorem") (TSX-V: BRM) announced today it will be showcasing its new Unity product line at an event at the Preston Wastewater Treatment Facility in Cambridge, Ontario, on Friday, August 28, 2009. The event will be hosted by Ontario's Ministry of Research and Innovation, which has provided Biorem with almost $1.2 million in new funding through its Innovation Demonstration Fund ("IDF"). IDF is a discretionary, non-entitlement funding program administered by the Ministry that focuses on the commercialization and initial technical demonstration of globally competitive, innovative Green technologies, processes and/or products. "The new funding provided by the Ontario's Ministry of Research and Innovation will allow us to showcase two different odour control projects: Unity, which is a small footprint unit that is shipped to site, already pre-assembled and requires minimal set-up on-site, and; a larger capacity unit, which is built on-site. We are currently evaluating locations for a demonstration site for this larger unit," said Peter Bruijns, President and CEO. "Advanced product development efforts via focused commercialization-oriented research are a constant priority at Biorem," added Mr. Bruijns. "This process technology provides us with a competitive advantage in both international markets such as China, but also in large city applications where footprint is a real constraint. This technology although developed for odour control also has great potential in green-house gas reduction applications." About BIOREM Inc. Biorem designs and manufactures air pollution control systems, including biofiltration and biotrickling systems that safely remove harmful contaminants such as Hydrogen Sulfide, Reduced Sulfur compounds, and VOC's from the air. Our systems are environmentally friendly, clean and sustainable all the while reducing green-house 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 at our web site 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 "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: Ed Corbett, Chief Financial Officer, BIOREM Technologies Inc., [ ecorbett@biorem.biz ], Tel: (519) 767-9100 x275; Adriana Braczek, Investor Relations, The Equicom Group Inc., [ abraczek@equicomgroup.com ], Tel: (416) 815-0700 x240
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