VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/01/12 -- BioteQ Environmental Technologies, Inc. (TSX: BQE), a leader in the treatment of industrial wastewater, is pleased to announce that its new ion exchange plant at the Dexing mine site is the recipient of an $3.5 million RMB grant (approximately $550,000 Cdn) from the Jiangxi Provincial Development and Reform Commission. The ion exchange plant is a 50/50 joint venture project with Jiangxi Copper Company that recovers nickel and cobalt from low-grade solution, producing clean water and saleable metal products. The grant, awarded in the Green Technology/Environmental category, recognizes high-tech innovations that deliver significant impact for the region in the form of environmental, economic and social benefits.
Jonathan Wilkinson, BioteQ's Chief Executive Officer stated, 'We along with our joint venture partner, Jiangxi Copper Company, are pleased that the Dexing ion exchange project has been recognized for being a leader. This grant also is a reflection of BioteQ's commitment to delivering innovative water treatment solutions that contribute positively to environmental sustainability.'
The Jiangxi Provincial Development and Reform Commission is the governing body that oversees economic and social development in Jiangxi province of China. The Commission provides approval for key projects, formulates policy, and promotes sustainable growth in the region.
BioteQ Corporate Profile
BioteQ is an innovative clean technology leader in global industrial water treatment. 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
Except for statements of historical fact relating to the Company, certain information contained herein constitutes 'forward-looking statements' within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements are frequently characterized by words such as 'plan,' 'expect,' 'project,' 'intend,' 'believe,' 'anticipate' and other similar words, or statements that certain events or conditions 'might' or 'will' occur. 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 and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the development, construction and operation of water treatment plants, variations in water quality, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and other factors described in the section entitled 'Risks' in the Company's Annual Report for the Year Ended December 31, 2010. Circumstances or management's estimates or opinions could change. The reader is cautioned not to place undue reliance on forward-looking statements.
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