BioteQ Environmental Technologies Inc.
TSX : BQE

BioteQ Environmental Technologies Inc.

April 01, 2010 08:30 ET

BioteQ Environmental Technologies, Inc.: Joint Venture Restarts Bisbee Plant

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 1, 2010) - BioteQ Environmental Technologies, Inc. (TSX:BQE), a leader in the treatment of industrial waste water, announced today that it has come to an agreement with Freeport-McMoRan Copper and Gold Inc. ("Freeport") to end furlough of the joint venture plant in Bisbee, Arizona and restart operations. The plant was placed on furlough in April 2009. During the last 12 months, the joint venture partners performed a number of reviews of the Bisbee facility that lead to the implementation of technical improvements and cost reduction measures.

Following the plant restart in April 2010, BioteQ and Freeport have agreed to resume periodic quarterly reviews of the plant operation similar to those performed during normal plant operation prior to furlough.

David Kratochvil, BioteQ's President and COO stated," We look forward to re-starting the Bisbee plant and expect that following the initial ramp-up period, the facility will return to full production sometime in the second quarter of 2010. We are proud of the work that has been completed by the joint venture partners during furlough contributing to improvements in safety, environmental compliance, and operating efficiencies of the Bisbee plant."

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 8 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, 2009. 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
    1-800-537-3073
    or
    BioteQ Environmental Technologies Inc.
    Caren Holtby
    Investor Relations
    1-800-537-3073
    investor@bioteq.ca
    www.bioteq.ca