Business
BIOREM to enter new $400 million growth markets
BIOREM to enter new $400 million growth markets
About this update from Biorem Inc.
[{"type":"text","content":"\n\n\n\nFeb. 25, 2010 (Canada NewsWire Group) -- GUELPH, ON, Feb. 25 /CNW/ -- BIOREM Inc. (\"Biorem\" or \"the Company\") (TSX-V: BRM) today announced it will expand into the key industrial air emissions control markets of volatile organic compounds (\"VOCs\") and methane (biogas) emissions. BIOREM has taken the strategic decision to focus on developing advanced solutions for emissions control in the industrial space, as it will provide the Company with greater opportunity for recurring revenue generation and growth. BIOREM's entry into biogas purification adds a dimension of valuable product recovery and allows the Company to participate in sustainable clean energy markets in addition to its odor removal business.BIOREM is targeting niche areas within the VOC and methane emissions markets, that combined, have a market size of more than $400 million annually in the United States alone, with significant projected annual growth rates. The solutions currently available to clean these emissions from air streams - such as thermal oxidizers, chemical scrubbers and iron sponges - are non-biological in nature and generate further greenhouse gases or harmful byproducts during the cleaning process.Methane is 23 times more powerful as a global warming agent than carbon dioxide and accounts for more than 14% of all man-made greenhouse gas emissions on Earth. Capturing methane emissions and converting them for power generation or automobile fuel sources has the dual effect of mitigating atmospheric damage and providing sustainable, clean energy. There are many different VOCs emitted daily from the manufacturing of consumer products such as building materials, automobile parts, appliances and packaged foods. Many of these VOCs are harmful to human health and thereby contribute significantly to poor urban air quality (smog).\"Over the last few years, we have focused on building a stable platform for growth by establishing a strong management team and sales network, generating a healthy balance sheet, and developing best-in-class proprietary air emission control technology and intellectual property through research and development. With this accomplished, we are in an ideal position to embark on the next phase of our growth strategy,\" said Peter Bruijns, President and CEO. \"By expanding our business focus to cover the VOC and biogas markets, ...