BioteQ Environmental Technologies Inc.
TSX : BQE

BioteQ Environmental Technologies Inc.

December 03, 2007 08:30 ET

BioteQ to Build Demonstration Plant for Sulphate Removal with Freeport McMoRan Copper and Gold

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 3, 2007) - BioteQ Environmental Technologies Inc. (TSX:BQE), a leader in the treatment of industrial contaminated water, today announced a new development agreement with Freeport McMoRan Copper and Gold to jointly engineer, construct and operate a demonstration plant for the removal of sulphate and other dissolved solids at the Sierrita copper mine site in southern Arizona, using BioteQ's proprietary Sulf-IX™ ion-exchange technology. The plant, to be constructed in 2008, is anticipated to have a total capacity of 125 gallons per minute. Freeport McMoRan will be responsible for all capital and operating costs; BioteQ will license its technology to Freeport McMoRan and provide the process on an on-going license basis. The demonstration plant will enable Freeport McMoRan to evaluate BioteQ's technology for potential application at other sites.

Brad Marchant, BioteQ's President & CEO, stated, "We are optimistic about the market opportunities for our sulphate reduction technology, as regulations for sulphate discharge are tightening in many jurisdictions around the world, driving the need for environmental compliance in industries like mining, metal processing, pulp and paper, and chemical manufacturing. We are delighted to be working again with Freeport McMoRan, building on our water treatment project experience together at their Bisbee and Blackwell sites. The Sierrita project will be the first large-scale application of BioteQ's Sulf-IX™ process."

BioteQ's Sulf-IX™ technology has several potential advantages compared to other sulphate removal technologies, such as reverse osmosis, including lower capital and operating costs, and elimination of a residual product that would require either further treatment and/or costly disposal. The only by-product of the Sulf-IX™ process is solid gypsum which is commonly used in the manufacture of fertilizers and building products. Gypsum is non-toxic and forms under atmospheric conditions, which is in contrast with conventional membrane processes for sulphate removal that require the energy intensive formation of solid crystals and their subsequent disposal in licensed depositories. It is anticipated that the treated water produced by the Sulf-IX™ process will meet international standards for water recycling for municipal and agricultural applications.

BioteQ Corporate Profile

BioteQ finances, builds, owns and operates water treatment plants for the world's mining companies and utility operators, reducing environmental liabilities while generating revenue from waste. The company's commercially proven technology treats acid mine drainage and other metal-laden waste water by sequentially removing metals and sulphate, producing saleable metal products and clean water than can be discharged safely to the environment. BioteQ is headquartered in Vancouver, Canada, and trades on the TSX under the symbol BQE. For additional information, go to www.bioteq.ca.

About Freeport McMoRan Copper and Gold

Freeport McMoRan Copper and Gold (NYSE:FCX) is a fully integrated producer of copper, gold and molybdenum, with mines and processing facilities in North America, South America, Asia, Africa and Europe.

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, 2006. 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
    Investor Relations
    1-800-537-3073 or (604) 685-1243
    or
    BioteQ Environmental Technologies Inc.
    Caren Holtby
    Investor Relations
    1-800-537-3073 or (604) 685-1243
    (604) 685-7778 (FAX)
    Email: investor@bioteq.ca
    Website: www.bioteq.ca
    or
    Wolfe Axelrod Weinberger Assoc LLC - In the U.S.
    Adam P. Lowensteiner
    (212) 370-4500
    Email: adam@wolfeaxelrod.com
    or
    Wolfe Axelrod Weinberger Assoc LLC - In the U.S.
    Alisa D. Steinberg
    (Media)
    (212) 370-4500
    (212) 370-4505 (FAX)
    Email: alisa@wolfeaxelrod.com