VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/15/11 -- BioteQ Environmental Technologies, Inc. (TSX: BQE), a leader in the treatment of industrial waste water, has secured a contract from an international mining customer to provide detailed design and engineering services for a planned 1,800 cubic meter per hour water treatment system. Under the terms of the contract, valued at approximately CDN$1.4 million, work will commence immediately and will conclude in approximately six months.
Jonathan Wilkinson, BioteQ's Chief Executive Officer stated, 'BioteQ has worked with this customer on this particular project since 2008 to design a multi-stage water treatment system for a proposed new mine. This new contract represents the third stage of work on the project and is focused on providing detailed capital and operating cost estimates that will enable the customer to make a final investment decision about the water treatment plant. BioteQ is very pleased that this project has now moved to an advanced stage of development. This new contract is a reflection of the strength and growing maturity of BioteQ's commercial pipeline and represents a significant step forward for the Company.'
BioteQ Corporate Profile
BioteQ creates custom water treatment solutions to recover dissolved metals and remove sulphate from water impacted by mining, energy and industrial activities. The company's clean technologies convert wastewater into a useful resource while delivering lower life cycle costs for water treatment. BioteQ has designed and built 14 plants at sites in Canada, the US, Mexico, Australia and China, with additional projects in development.
BioteQ's sustainable water treatment solutions have been recognized with national and international awards for innovation and sustainability. BioteQ is headquartered in Vancouver, Canada, and trades on the TSX under the symbol BQE. For additional information, please visit our website at www.bioteq.ca.
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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