Market Overview

BIOREM Announces Orders Totalling $12.2 million - Including $4 million in China

Share:

BIOREM Announces Orders Totalling $12.2 million - Including $4 million in China

PR Newswire

GUELPH, ON, Aug. 13, 2018 /PRNewswire/ - BIOREM Inc. (TSXV:BRM) ("BIOREM" or "the Company") today announced a number of new orders totalling $12.2 million. The orders are for air emission abatement projects in North America and China. The new orders include 15 new contracts in Canada and the USA totalling $8.2M and 4 new contracts in China totaling $4.0M. All of these contracts represent orders for custom designed, advanced biological air and gas emissions abatement equipment for delivery within 2018 and early 2019.

"Management is quite pleased with the results of our various business development initiatives," said Derek S. Webb, President and Chief Executive Officer. "Of particular note are the orders received from the Chinese market. The investment of time and resources to address the world's largest environmental goods and services market in China is starting to show the results of that effort. With the Chinese central governments serious initiatives to improve air quality for its citizens, the demand for reliable performing emissions abatement equipment is increasing at an exponential pace. BIOREM is perfectly positioned to take advantage of these momentous changes."

"As a result of these new bookings, BIOREM has a strong order backlog of projects for delivery over the next three to four quarters. The outstanding order backlog is currently at $26 million and expected to remain fairly consistent over the coming quarters.  Combined with a lack of debt and significant increase in working capital, management is actively pursuing additional strategic initiatives to further broaden our capabilities and reach."

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 1,200 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.

Cision View original content:http://www.prnewswire.com/news-releases/biorem-announces-orders-totalling-12-2-million---including-4-million-in-china-300695786.html

SOURCE Biorem Inc.

View Comments and Join the Discussion!