Bion Responds to Confusion over Name and Symbol
NEW YORK, July 9, 2012 /PRNewswire/ -- Bion Environmental Technologies, Inc. (OTC BB/QB: BNET) addressed today the recent confusion over similarities in name and symbol with BioNitrogen Corporation (Pink Sheets: BION).
Bion Environmental Technologies trades on the OTC Bulletin Board and OTC QB markets under the symbol BNET. Bion is a Colorado corporation (since 1989) with headquarters in New York and is fully-reporting under the Securities and Exchange Act of 1934. The Company has developed a micro-aerobic waste treatment technology that provides the only comprehensive solution to the environmental impacts of livestock production waste while simultaneously recovering valuable assets from the waste stream, including renewable energy and the nutrients phosphorus and nitrogen.
BioNitrogen Corporation trades on the OTC Pink Sheets under the symbol BION, which has created the confusion. BioNitrogen was incorporated in 2009, more than 20 years after Bion Environmental Technologies began using its name. BioNitrogen does not report under the SEC Act of 1934. According to the Company's website, "BioNitrogen is an American company focused on building fully operational, turnkey manufacturing facilities in the global marketplace to produce urea [nitrogen-based crop fertilizer]." According to the OTC Markets website, BioNitrogen is a development-stage company that recently closed on a financing "to complete the basic engineering design and advance towards the process of building plants and producing urea." The Company's technology is patent-pending.
In contrast, Bion Environmental Technologies has provided solutions to the livestock industry for 22 years, with 30 of its first-generation systems installed through 2003. The Company held the grand opening of its showcase second-generation system in July 2011 at Kreider Farms, in Lancaster County, PA. The project was financed by the Pennsylvania Infrastructure Investment Authority (PENNVEST) and was installed as part of the efforts to provide low-cost nitrogen reductions under the Chesapeake Bay TMDL (Total Maximum Daily Load). Bion's IP portfolio at present includes seven U.S. patents, with an additional U.S. patent applied for and pending, as well as patents in Canada, New Zealand and Mexico, with patent applications under consideration for the European Union, Brazil, Argentina and Australia.
Craig Scott, Bion's VP Capital Markets, stated, "BioNitrogen's symbol being the same as our Company's name has created a certain amount of confusion. Despite the similarities in name and symbol between Bion Environmental Technologies and BioNitrogen Corp. it is important to note we are different companies. Bion shareholders or potential investors should contact us at 303-843-6191 or firstname.lastname@example.org if they have further questions."
Bion Environmental Technologies has provided environmental treatment solutions to the agriculture and livestock industry since 1990. Bion's patented next-generation technology provides a unique comprehensive treatment of livestock waste that achieves substantial reductions in nitrogen and phosphorus, ammonia, greenhouse and other gases, as well as pathogens, hormones, herbicides and pesticides. Bion's process simultaneously recovers cellulosic biomass from the waste stream that can be used to produce renewable energy.
Bion recently installed its next-generation dairy waste treatment system at Kreider Dairy Farms, a 1,200 cow dairy facility in Lancaster County, Pennsylvania. The system was installed to reduce ammonia emissions and nitrogen and phosphorus discharges, as well as greenhouse gases, odors, pathogens and other pollutants that impact both the Chesapeake Bay and local waters. For more information, see Bion's websites, www.biontech.com and www.bionpa.com.
This material includes forward-looking statements based on management's current reasonable business expectations. In this document, the words 'expect', 'will', 'proposed' and similar expressions identify certain forward-looking statements. These statements are made in reliance on the Private Securities Litigation Reform Act, Section 27A of the Securities act of 1933, as amended. There are numerous risks and uncertainties that could result in actual results differing materially from expected outcomes.
SOURCE Bion Environmental Technologies, Inc.