BioteQ Environmental Technologies Inc.
TSX : BQE

BioteQ Environmental Technologies Inc.

March 10, 2010 08:30 ET

BioteQ Advances Third Project in China

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 10, 2010) - BioteQ Environmental Technologies Inc. (TSX:BQE), a leader in the treatment of industrial waste water, announced that the company has initiated a third water treatment project in joint venture with Jiangxi Copper Company (JCC). The project is located at the Dexing Mine in China, to recover nickel and cobalt using a novel modification of conventional ion-exchange technology developed by BioteQ. The new plant will be in addition to the existing ChemSulphide® plant that currently operates at the Dexing site to recover copper from mine wastewater.

The joint venture partners have agreed to advance the project evaluation with a design report that will draw data from a pilot plant that is currently in operation at the site. BioteQ commissioned the pilot plant in February 2010 and JCC is responsible for the pilot plant operation under BioteQ's technical supervision. The pilot plant campaign and design report will take approximately three months to complete. The design report will more fully define the project scope and parameters, including details about water flow to be treated, expected recovery rates, terms of sale for the recovered cobalt and nickel and detailed capital and operating cost estimates. Preliminary estimates indicate that the project will require about $2 million in capital, to be shared equally by the joint venture partners. The design report will analyze and refine these estimates.

When the design report is complete, the joint venture partners will review the project economics and determine whether to proceed to construction in the third quarter of 2010.

Prior to piloting at Dexing, BioteQ extensively tested the use of ion exchange technologies combined with BioteQ's ChemSulphide® and BioSulphide® processes for cobalt and nickel removal at the company's research laboratory and existing operations. By removing cobalt and nickel from the acid water at Dexing, the process further enhances the environmental benefits of BioteQ's water treatment technologies and promotes sustainability by recovering valuable metals for recycle back to the metals industry.

This project builds on BioteQ's joint venture with Jiangxi Copper Company, China's largest copper producer. The companies signed a joint venture agreement in 2006 that identified six potential projects that could apply BioteQ's water treatment technologies. In 2008, BioteQ commissioned the first plant at the Dexing Mine in China; that year, the site was awarded the China Mining Environmental Protection Award. An addition to the Dexing projects, the joint venture partners have completed a design report for a water treatment plant at the Yinshan mine, which is pending permits for mine expansion.

BioteQ Corporate Profile

BioteQ is a water treatment company that applies innovative technologies and operating expertise to solve challenging water treatment problems, reducing environmental liabilities while delivering lower life cycle costs for water treatment. The Company's commercially proven technologies treat industrial wastewater contaminated with dissolved heavy metals and sulphate, producing saleable by-products and clean water that can be discharged safely to the environment. BioteQ has built 9 plants at sites in Canada, the US, China, Australia and Mexico, with additional projects in design and construction.

BioteQ has been named one of Canada's Top 50 Most Socially Responsible Corporations by Jantzi Research and Maclean's, and the company's sustainable water treatment solutions have been recognized with the Globe Award for Environmental Excellence, the PDAC Award for Environmental and Social Responsibility, the China Mining Environmental Protection Award, and the Mines & Money Sustainable Development Award. BioteQ is headquartered in Vancouver, Canada, and trades on the TSX under the symbol BQE. For additional information, please go to www.bioteq.ca.

On behalf of the Board of Directors

Brad Marchant

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Except for statements of historical fact relating to the Company, certain information contained herein constitutes "forward-looking statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate" and other similar words, or statements that certain events or conditions "might" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the development, construction and operation of water treatment plants, variations in water quality, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and other factors described in the section entitled "Risks" in the Company's Annual Report for the Year Ended December 31, 2008. Circumstances or management's estimates or opinions could change. The reader is cautioned not to place undue reliance on forward-looking statements.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release.

Contact Information

  • BioteQ Environmental Technologies Inc.
    Tanja McQueen
    Corporate Development
    604-685-1243 or 1-800-537-3073
    604-685-7778 (FAX)
    investor@bioteq.ca
    www.bioteq.ca