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 cscott@biontech.com 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.