BioteQ Advances Project in Chile With EcoMetales

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Source: BioteQ Environmental Technologies

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 07/16/12 -- BioteQ Environmental Technologies, Inc. (TSX: BQE), a leader in the treatment of industrial wastewater, has secured a contract with EcoMetales to develop basic engineering and laboratory testing related to arsenic removal for a treatment facility to be built in Chile. The work, which will include laboratory test work, process design and capital and operating cost estimates, is expected to be complete by the end of the third quarter of this year. Following the completion of this stage of work, BioteQ and EcoMetales will negotiate a commercial agreement to advance the project to the next stage of engineering and construction. The project will be subject to regulatory review and approval prior to construction. EcoMetales is a wholly-owned subsidiary of Codelco, one of the world's largest copper producers.

BioteQ and EcoMetales commenced work together on this project in 2011, to review the application of BioteQ's technologies for the treatment of arsenic in smelter scrubber effluent. The initial evaluation has indicated that BioteQ's processes can be economically applied to produce a stable arsenic product that can be safely disposed, with a significant reduction in sludge production. The project is expected to apply BioteQ's patented BioSulphide® process to generate hydrogen sulphide reagent on-demand, as a reagent to recover and stabilize arsenic from smelter waste.

Jonathan Wilkinson, BioteQ's CEO, stated, 'We are pleased to secure a contract with our channel partner in Latin America. The project is expected to lead to the supply of a BioSulphide® system in 2013, and an operating role commencing in 2014. This project achieves a significant milestone in our relationship with EcoMetales and our entry into the Latin American market.'

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.

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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, 2011 and the section entitled 'Risk Factors' in the Company's Annual Information Form for the year ended December 31, 2011). 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.

 

Contacts:
BioteQ Environmental Technologies Inc.
Tanja McQueen
VP Corporate Development
604-685-1243 or 1-800-537-3073
604-685-7778 (FAX)
investor@bioteq.ca

 

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