BioteQ Environmental Technologies Inc.
TSX : BQE

BioteQ Environmental Technologies Inc.

April 11, 2013 17:00 ET

BioteQ Sells Mobile Sulf-IX™ Pilot Plant to Strategic Partner Newalta

VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 11, 2013) - BioteQ Environmental Technologies, Inc. (TSX:BQE), a leader in industrial waste water treatment, has sold its share of the mobile Sulf-IX™ pilot plant joint asset to partner Newalta (TSX:NAL) for approximately $500,000 Cdn. The mobile Sulf-IX™ pilot plant, which was built in 2012, is intended to provide on-site field testing for sulphate removal from industrial waste water. The unit was jointly developed by BioteQ and Newalta to further collaboration between the partners in pursuing projects that would apply BioteQ's innovative environmental technologies and would utilize Newalta's operating and management expertise.

The mobile Sulf-IX™ pilot plant was commissioned in Q1 2013 and is currently testing water streams at a prospective customer site in the US. Upon completion of this testing in Q2 2013, Newalta will assume full ownership of the mobile Sulf-IX™ pilot plant. BioteQ and Newalta believe that the consolidation of ownership interests will enable more effective and efficient planning and use of the mobile Sulf-IX™ plant.

Going forward Newalta plans to deploy the unit to assess opportunities to apply BioteQ's Sulf-IX™ technology at both existing and new customer sites in North America. Under the terms of the sale agreement, Newalta will provide operating services for pilot plant campaigns while BioteQ will provide on-site process and technical oversight and expertise during testing.

"BioteQ and Newalta have determined that the sale of the joint asset to Newalta will allow for more efficient use of the mobile Sulf-IX™ pilot plant and will provide better alignment with the respective strengths each company brings to the partnership," stated Jonathan Wilkinson, BioteQ's CEO. "We are pleased with this next step in the evolution of our relationship with Newalta and look forward to accelerating commercial progress between the Parties going forward."

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.

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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