BioteQ Environmental Technologies Inc.
TSX : BQE

BioteQ Environmental Technologies Inc.

September 27, 2010 08:30 ET

BioteQ and EcoMetales Sign Joint Development Agreement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 27, 2010) - BioteQ Environmental Technologies, Inc. (TSX:BQE), a leader in the treatment of industrial waste water, has signed a development agreement with EcoMetales Limited, an industrial waste management company owned by Codelco, Chile's largest mining firm. The companies have signed an agreement to jointly evaluate and develop waste treatment projects to recover, recycle and treat metals from industrial waste, including mine, smelter, and refinery waste, and have initiated their first project together to recover molybdenum from leach solutions.

EcoMetales Limited, a company wholly owned by Codelco, the largest copper producer in the world, operates a plant located 35 km northeast of Calama. The company, as an independent business unit, provides waste management treatment and metal recovery services for the mining industry in Chile.

Brad Marchant, BioteQ's CEO stated, "We are pleased to be working with EcoMetales. This strategic alliance provides access to new customers in an important mining region, and creates opportunities for potential new projects where we can apply our existing technologies for metal recovery and sulphate removal."

Ivan Valenzuela, CEO of EcoMetales stated, "EcoMetales is expanding its industrial waste treatment services internationally. By combining our technologies and know-how with BioteQ, we believe we can open new market opportunities for both companies. Together, EcoMetales and BioteQ can provide treatment solutions that recover valuable metals from waste, produce clean water for re-use, and reduce environmental liabilities for site owners."

Before signing this agreement, EcoMetales contracted BioteQ Environmental Technologies Inc. to provide laboratory test work, piloting and conceptual engineering services for the recovery of molybdenum from leach solutions. Initial laboratory testing has been completed, and pilot testing at the site is in progress. Upon completion of pilot testing, EcoMetales will evaluate the project economics of a full-scale plant, and will determine the appropriate business model to advance the project.

BioteQ Corporate Profile

BioteQ 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 10 plants at sites in Canada, the US, China, Australia and Mexico, with additional projects in design and construction.

BioteQ's sustainable water treatment solutions have been recognized with the CIM/Syncrude Award for Excellence in Sustainable Development, the Canada Export Achievement Award, the Jantzi/Maclean's Most Socially Responsible Corporations in Canada, 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
    604-685-1243 or 1-800-537-3073
    604-685-7778 (FAX)
    investor@bioteq.ca
    www.bioteq.ca