BioteQ Environmental Technologies Inc.
TSX : BQE

BioteQ Environmental Technologies Inc.

September 24, 2007 17:23 ET

BioteQ Commissions New Plant in Australia

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 24, 2007) - BioteQ Environmental Technologies, Inc. (TSX:BQE), a leader in the treatment of metal and sulphate contaminated water, has initiated commissioning of a new plant in Australia at the Mt Gordon mine, owned by Aditya Birla. The $4.3 million plant will recover copper, cobalt, and nickel using BioteQ's proprietary ChemSulphide™ process to produce saleable metals and clean water. Following metal recovery, the water will be further treated by standard evaporation methods to maintain the mine site's water balance. BioteQ has put up the capital cost of the plant and is responsible for all operating costs, in exchange for 90% of net revenues from the sale of metals recovered.

Brad Marchant, President and CEO of BioteQ stated, "We are pleased to start commissioning the water treatment plant at Mount Gordon, the first of 5 new construction projects in progress. BioteQ has a team of experienced engineers and operators on site, as well as excellent support from the Mount Gordon mine staff, to ensure the facility operates according to design."

The commissioning process, where the plant components are tested and optimized, is expected to take 3 to 4 months. When commissioning is complete, the plant will begin processing metal-laden waste water. With a design capacity of 2.2 billion litres of water per year, BioteQ expects the plant to process 1.44 million lbs of copper, 140,000 lbs of cobalt, and 23,000 lbs of nickel annually. Annual operating costs are anticipated to be $3.1 million.

BioteQ Corporate Profile

BioteQ finances, builds, owns and operates water treatment plants for the world's large mining companies and utilities operators to help them reduce their environmental liabilities while generating revenue from their 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 that can be discharged safely to the environment. BioteQ's partners include Phelps Dodge (Freeport), Breakwater, CVRD-INCO, Jiangxi Copper, Aditya Birla, Molymet, Xstrata, EPCOR Water Services and the US EPA. BioteQ is headquartered in Vancouver, Canada, and trades on the TSX under the symbol BQE. For additional information, go to www.bioteq.ca.

About Aditya Birla

The Aditya Birla Group is one of India's largest multinational conglomerates, with 85 state-of-the-art manufacturing units and sectoral services that span 20 countries, producing a range of products including viscose staple fibre, metals, cement, viscose filament yarn, branded apparel, carbon black, chemicals, fertilizers, insulators, financial services, telecom, and IT services. The company has 100,000 employees world-wide, and has been judged the best employer in India and among the top 20 in Asia by the Hewitt-Economic Times and Wall Street Journal Study 2007.

Through its subsidiary Hindalco Industries Limited ("Hindalco"), Aditya Birla Group owns a majority interest in Aditya Birla Minerals, with operations at two copper mine sites in Australia at Mount Gordon and Nifty. The company also has exploration rights in the Paterson province of Western Australia and in Queensland.

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