BioteQ Environmental Technologies Inc.
TSX : BQE

BioteQ Environmental Technologies Inc.

June 24, 2009 08:30 ET

BioteQ Secures NRC-IRAP Funding Support for Research & Development

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 24, 2009) - BioteQ Environmental Technologies Inc. (TSX:BQE), a leader in the treatment of industrial wastewater, has received a non-repayable contribution of up to $295,000 from the National Research Council of Canada Industrial Research Assistance Program (NRC-IRAP), a federally-funded program that supports the commercialization of innovative Canadian technologies. The contribution will support BioteQ's development program to apply the company's technologies to treat water for coal-fired power generating facilities and waste water produced from the Canadian oil sands. In addition, NRC-IRAP will also provide both technical and business-oriented advisory services.

"We are pleased to secure funding support from NRC-IRAP," stated Brad Marchant, BioteQ's CEO. "This work will help BioteQ diversify its technologies and customer base, and provide new and sustainable water treatment solutions for the power generation and oil sands industries. NRC-IRAP was instrumental in the initial commercialization stages of BioteQ's core technology and we welcome their support towards expansion of our marketplace."

BioteQ is a water treatment company that applies innovative technologies and operating expertise to solve challenging water treatment problems. To date, the company has primarily served the mining industry, where it has built and operated 8 industrial scale water treatment plants at mine sites in Canada, the US, Mexico, Australia, and China, producing clean water that meets strict water quality criteria for re-use or safe discharge to the environment.

Coal-fired power generating facilities and oil sands projects are large consumers of fresh water for their industrial processes. Both industries are under increasing regulatory pressure to reduce their water consumption and adopt new water recycling measures. However, the recycle of water often leads to the build-up of dissolved constituents including sulphate, metals, hardness, silica, and organics which can interfere with industrial equipment and hence limit the extent of water recycle without proper treatment. BioteQ aims to demonstrate that its suite of water treatment technologies can provide a cost effective and environmentally responsible solution for some of the water treatment challenges faced by the power generation and oil sands industries.

BioteQ Corporate Profile

BioteQ is a water treatment company that treats wastewater contaminated with dissolved heavy metals and sulphate, reducing environmental liabilities while delivering lower life cycle costs for water treatment.

BioteQ has been named one of Canada's 50 Most Socially Responsible Corporations, 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
    or
    BioteQ Environmental Technologies Inc.
    Caren Holtby
    Investor Relations
    604-685-1243 or 1-800-537-3073
    604-685-7778 (FAX)
    Email: investor@bioteq.ca
    Website: www.bioteq.ca