BIOREM Announces Order Updates
GUELPH, ON, Nov. 22, 2013 /PRNewswire/ - BIOREM Inc. (TSXV:BRM) ("Biorem" or "the Company") today announced two new orders totalling $1.0 million, which are in addition to the $1.9 million in new orders announced in October. The larger order is an industrial odour and VOC (Volatile Organic Compounds) control system in Europe and represents the 7th repeat order for this growing multinational client. The second order is an odour control system for a waste water treatment plant in the United States.
"Biorem now has multiple biological solutions for the removal of contaminants from industrial air sources," said Peter Bruijns, President and CEO. "With both Biofilter and Biotrickling filter configurations available, we have increased the number of VOC applications that are treatable using our clean technology solutions. Our growing list of global industrial installations reflects the success of our diversification effort and the future potential for the industrial emissions market."
Biorem additionally announced today that it has not come to agreement on satisfactory payment terms with a Chinese State Owned Enterprise (SOE) for a $2.8 million project located in Southeast Asia and has removed the project from its backlog for the time being.
"We have taken a position that on material international orders where risk of non-payment is a significant issue, we must ensure that satisfactory security, such as Letters of Credit are in place," said Peter Bruijns, President and CEO, "Being experienced in Asia, we are aware of the commercial risks and are satisfied this approach is in the best interests of the company."
VOCs are significant contributors to poor outdoor air quality in developed urban centers and many of these contaminants are considered either or both carcinogenic to humans and contributors to greenhouse gases. For more general information on VOCs please follow the link: http://en.wikipedia.org/wiki/Volatile_organic_compound
About BIOREM Inc.
BIOREM is a leading clean technology company that designs, manufactures and distributes a comprehensive line of high-efficiency air emissions control systems used to eliminate odors, volatile organic compounds (VOCs), and hazardous air pollutants (HAPs). With sales and manufacturing offices across the continent, a dedicated research facility, a worldwide sales representative network and more than 800 installed systems worldwide, BIOREM offers state-of-the-art technology-based products and peace of mind for municipalities, industrial companies and their surrounding communities. Additional information on BIOREM is available on our website at www.biorem.biz.
SOURCE Biorem Inc.