BioteQ Environmental Technologies Inc.
TSX : BQE

BioteQ Environmental Technologies Inc.

April 15, 2013 08:30 ET

BioteQ Q1 2013 Operations Update

VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 15, 2013) - BioteQ Environmental Technologies Inc. (TSX:BQE), a leader in industrial waste water treatment, provides an update on plant operations and sales activities for the first quarter of 2013.

Operations

BioteQ had two active water treatment operations during the first quarter at Bisbee, Arizona and Dexing, China. BioteQ's seasonal operations at the Raglan site are expected to commence later this spring when water becomes available from the snow melt.

Revenues from both the Bisbee and Dexing plants are based on the sale of recovered copper. During Q1 2013 the Bisbee operation recovered approximately 140,000 pounds of copper and treated 290,000 m3 of waste water. The Dexing plant recovered approximately 511,000 pounds of copper and treated 2.2 million m3 of waste water.

Combined, in Q1 2013 the two operations removed and recovered approximately 651,000 pounds of copper from the environment and treated 2.5 million m3 of waste water compared to 530,000 pounds of copper and 1.8 million m3 of waste water in Q1 2012. Collectively, BioteQ expects to recover approximately 2.4 million pounds of copper in 2013.

BioteQ's Ion Exchange plant for cobalt and nickel recovery at Dexing, China recovered a limited amount of commercial grade cobalt-nickel product in 2012. This limited production was a result of plant deficiencies that required additional upgrades. Appropriate plant upgrades are now close to being fully implemented. BioteQ expects that the plant will ramp up to commercial production levels during Q2 2013.

During the quarter BioteQ and its Chinese joint venture partner, Jiangxi Copper Company, continued to progress site preparation and design and engineering work for the new ChemSulphide® water treatment plant that is being built at the Dexing mine site. Construction is expected to begin April. The system is expected to be commissioned in Q4 2013.

Mobile Sulf-IX Pilot Plant

In addition to operations at BioteQ's commercial plants, during Q1 BioteQ successfully completed commissioning of a mobile Sulf-IX™ pilot plant that was jointly funded by Newalta and BioteQ. This unit provides on-site field testing for sulphate removal from waste water. Data collected from the pilot plant testing will be used to validate the applicability of the technology to new water streams and to generate the design criteria for full-scale Sulf-IX™ water treatment plants.

Upon completion of commissioning, BioteQ began an initial testing contract with a US based industrial company. The pilot campaign is testing sulphate removal from waste water generated from flue gas treatment. Testing will be completed in April 2013. BioteQ and the customer will be reviewing results and discussing potential next steps during Q2.

Subsequent to Q1, BioteQ announced that it will sell its ownership share of the mobile Sulf-IX™ pilot plant to Newalta for approximately $500,000 Cdn following completion of the current testing contract. Under the terms of the agreement, BioteQ continues to retain full ownership of its Sulf-IX™ intellectual property. However, sale of this test unit will ensure that planning and execution for deployment of the unit will be more efficient and that the new arrangement will more effectively leverage the strengths of both Newalta and BioteQ.

Sales

During Q1 BioteQ received an order for lab and engineering services from a gold mining customer relating to application of SART technology.

Also during the quarter BioteQ secured two laboratory testing contracts. One contract involves application of BioteQ's expertise in SART technology to evaluate zinc removal from leach solution for a silver recovery plant. The test work is expected to be completed during Q2 2013 and will provide the basis for a budgetary level proposal for a commercial scale SART plant.

The second laboratory testing contract is focused on the investigation of heavy metals removal using BioteQ's sulphide precipitation technology for a BC mine currently in the permitting process. The test work will be completed during Q2 2013.

The Company expects to release its first quarter financial results on May 13, 2013. Details regarding the exact timing of the release and investor conference call will be provided a week prior to the release.

BioteQ Corporate Profile

BioteQ is an innovative clean technology leader in global industrial water treatment, serving the mining and energy markets. The company's proven technologies have been applied at sites around the world to recover dissolved metals and remove sulphate, producing clean water and eliminating residual waste. BioteQ is headquartered in Vancouver, Canada and trades on the TSX under the symbol BQE. Please visit our website at www.bioteq.ca for additional information.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

Certain information contained herein may not be based on historical fact and therefore constitutes "forward-looking information" under applicable Canadian securities legislation. This includes without limitation statements containing the words "plan", "expect", "project", "estimate", "intend", "believe", "anticipate", "may", "will" and other similar words or expressions. 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, uncertainties and other factors that may cause actual events or results to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, the Company's dependence on key personnel and contracts, uncertainty with respect to the profitability of the Company's technologies, competition, technology risk, the Company's ability to protect its intellectual property and proprietary information, fluctuations in commodity prices, currency risk, environmental regulation and the Company's ability to manage growth and other factors described in the Company's filings with the Canadian securities regulators at www.sedar.com (including without limitation the factors described in the section entitled "Risks and Uncertainties" in the Company's Annual Report for the year ended December 31, 2012 and the section entitled "Risk Factors" in the Company's Annual Information Form for the year ended December 31, 2012). Given these risks and uncertainties, the reader is cautioned not to place undue reliance on forward-looking statements. All forward-looking information contained herein is based on management's current expectations and the Company undertakes no obligation to revise or update such forward-looking information to reflect subsequent events or circumstances, except as required by law.

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
    Suite 1000 - 1050 West Pender Street
    Vancouver BC Canada V6E 3S7

    BioteQ Environmental Technologies
    Jonathan Wilkinson
    CEO
    604.685.1243 or 1.800.537.3073
    jwilkinson@bioteq.ca

    BioteQ Environmental Technologies
    Paul Kim
    CFO
    604.685.1243 or 1.800.537.3073
    pkim@bioteq.ca
    www.bioteq.ca