BIOREM Obtains $3.6 Million in Orders for Municipal Odor Control
CVF Technologies Corporation's holding BIOREM announced that it has recently received confirming orders valued at $3.6 million for the supply of its large scale BIOFILTAIR odor control technology.
The orders are comprised of two separate BIOFILTAIR systems for municipal odor control at a major city in the southern United States. An estimated $1.6 million (US) is scheduled for completion in this calendar year. CVF Technologies Corporation's ownership position in BIOREM equates to a value of approximately $0.56 per CVF common share.
The BIOFILTAIR systems will provide new levels of odor control with the stated objective of the customer to "....upgrade the wastewater treatment facilities, protect the environment and become a better neighbor to the community."
"It is a pleasure to receive these orders, since it provides us the opportunity to put our technology to work to improve the quality of life for this community" said Brian Herner, president and CEO of BIOREM. "These orders were received following extensive evaluation of available technologies and confirm the economic and performance advantages of our biological process."
Both systems are scheduled for startup in June 2006, with a significant component of the biofilter systems to be completed this year. "The engineering submittal phases of these projects have already begun as requested through earlier Letters of Intent and will enable us to meet the fast delivery schedule" said Herner.