Business
Biorem provides growth strategy and outlook for 2010/11
Biorem provides growth strategy and outlook for 2010/11
About this update from Biorem Inc.
[{"type":"text","content":"\n\n\n\n May 3, 2010 (Canada NewsWire Group) -- BIOREM Inc. (TSX-V: BRM) With Biorem now entering new markets with innovative and advanced technological breakthroughs, the Company has decided to provide details of its new strategy for its future growth and its outlook for fiscal years 2010/11.\nBiorem is concentrating its efforts on two major new market segments; renewable energy (biogas purification) and the industrial sector focussed on volatile organic compounds (VOC), whose combined markets are estimated to be $425 million annually in North America alone, while at the same time maintaining and increasing its market share in its core odour control business.\nThe Company is in the final stages of its product release for biogas sweetening (the removal of H2S from raw biogas) by combining engineering expertise obtained from Europe with its own biofiltration technology expertise. The first commercial biogas units will be operating in North America by midyear with a product rollout through the Company's well established municipal sales channels already underway. Biogas purification plants would most typically be used on landfill gas and anaerobic digesters found at municipal waste water treatment plants.\nBiorem has already invested in a sales force to enter and gain a foothold in the VOC removal market in North America, which is a $285 million annual market and has grown historically at a 7.5% annual rate. The market is currently dominated by thermal oxidation, chemical scrubbers and activated carbon solutions, which now have 85% of the market. The Company's aggressive product development programs over the past few years have lead to a competitive capital cost position compared to the market leading thermal oxidation technologies along with a significantly lower (33%) annual operating cost.\n"Revenue from both the renewable energy (biogas) and industrial (volatile organic compounds) markets are expected to make a material contribution in 2011," said Peter Bruijns, President and CEO. "Biorem has committed to the investment in its growth through expansion of its sales capacity and a continued commitment to product development. Although the investment in this growth initiative will impact the Company's profitability in 2010, it also sets the stage for exceptional growth prospects for the coming years."\nThe bioga...