BIOREM awarded two industrial projects in China
The repeat order in
“Our significant investment into building a presence in
Biological treatment of polluted air has made significant advances in the removal of Volatile Organic Compounds (VOC’s) in recent years with Biorem being one of the leading research companies. Biorem now has systems installed in many industrial sectors including food & beverage, pharmaceutical, automotive, paint facilities, petrochemical and others. Biological air pollution systems are now replacing older non-green technologies such as Chemical Scrubbing, Activated Carbon and Thermal Oxidizers as advancements in product development have improved the cost competitiveness.
It is anticipated that the revenue from these projects will be entirely recognized for accounting purposes in the 2009 fiscal year.
About BIOREM Inc.
BIOREM(R) manufactures Biosorbens(R) biofilter media and is a leading supplier of biofilters for air pollution control in municipal and industrial applications, including BIOCUBE(R) modular units and Mytilus(R) biotrickling filters. With over 600 installed systems and over a decade of experience, the Company’s products are the technology of choice for odor control at wastewater treatment plants across
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Forward-Looking Statements
This press release contains forward-looking statements based on current expectations. These forward-looking statements contain various risks and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements. Risks and uncertainties about the Company’s business are more fully discussed in the disclosure materials, financial statements and MD&A filed with the securities regulatory authorities in
Non-GAAP Measures
“Order Bookings” and “Order Backlog” do not have any standardized meaning prescribed by Canadian generally accepted accounting principles (“GAAP”) and may not be comparable to measures presented by other companies.
Order Bookings and Order Backlog are non-GAAP measures that the Company uses to evaluate its sales performance. Order Bookings are those binding contracts that the Company enters into with a third party for the delivery of our products or services. As Order Bookings are received, the contract value (before any associated sales taxes) is included in the Order Backlog. The Order Backlog is reduced by the revenue that is recognized on each project.
SOURCE Biorem Inc.
