BioteQ Signs MOU with SOQUEM for a Partnership in Quebec
BioteQ Environmental Technologies, Inc., has completed a Memorandum of Understanding (MOU) with SOQUEM, Inc., a wholly-owned subsidiary of SGF Minéra, Inc. The MOU provides the terms and conditions whereby BioteQ and SOQUEM could operate a partnership in Quebec to build and operate BioSulphide plants for water treatment and metal recovery. BioteQ would be the operator of the plants and maintain 70 percent ownership while SOQUEM would contribute 30 percent to the partnership.
Initially BioteQ and SOQUEM will assess more than 60 known acid contaminated sites in Quebec to determine the potential projects with the greatest environmental and economic benefit for application of BioteQ's BioSulphide Process. The initial review will cost approximately $140,000 to complete, the costs for which will be shared 70/30 by BioteQ and SOQUEM, respectively. It is expected that the initial review will be completed by the fourth quarter this year and provide several potential projects for installation of a treatment plant.