GUELPH, ON, Dec. 18 /CNW/ - BIOREM Inc. (TSXV:BRM) announced today the receipt of an industrial air pollution treatment contract in Canada for approximately $700,000. The system will treat a complex array of industrial emissions using a Biofiltair system to meet very stringent air pollution control standards. The proposed system will utilize an advanced design to ensure that the operation of the facilities is fully in compliance with the Government's air quality regulations.
"We have been focusing significant amounts of our resources on developing the next generation of biological solutions for industrial air pollution control projects," said Peter Bruijns, President and CEO of Biorem. "Odor is an indicator that there are a variety of chemical compounds being emitted in an air stream. The makeup of these compounds may have varying effects on human health, which are generally not beneficial over long term exposure. Removal of these chemical compounds can now be done using clean, sustainable technologies offered by Biorem."
This order brings year-to-date bookings to over $17.4 million which is $3.5 million or 27% higher than the same period in 2007 of $13.1 million.
About BIOREM Inc.
BIOREM 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 500 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 North America. Additional information on BIOREM is also available at our web site at www.biorem.biz.
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 Canada on www.sedar.com.
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.
%SEDAR: 00020304E