BIOREM order backlog exceeds $50 million on strength of $11-million in new orders
North American sales a "vote of confidence" in new technologies and growth initiatives
GUELPH, ON, June 6, 2023 /PRNewswire/ - BIOREM Inc. (TSXV: BRM) ("Biorem" or "the Company") today announced $10.6 million of new orders for air emission abatement projects in North America. These orders bring the company's current order backlog to a record $50.4 million, its highest point since the company was founded in 1990.
"These recent orders are a demonstration that our growth initiatives are gaining traction," said Derek S. Webb, President and Chief Executive Officer. "We are expanding our range of service offerings and technological solutions. These two most recent orders incorporate newer technologies and a full range of ancillary components to allow our customers to centralize their response to their air emissions challenges."
The new products at the heart of these orders were introduced to a carefully-selected trial market segment. This positive initial customer response bodes well for markets outside the test area, and the company's sales network will begin marketing them to other domestic and global customers in the coming months, Webb said.
"We have broken another two company records with these orders," added Webb. "One of the orders was secured at $9.5 million, making it BIOREM's largest single order to date and continues a trend that is seeing our projects increase in both scope and size. The second order, at $1.1 million, is for a dual-stage chemical scrubbing system which incorporates some of the latest developments in the industry. Both projects are for municipal wastewater treatment facilities in North America and are expected to deliver over the next six to twelve months. This brings Biorem's order backlog to a record $50.4 million."
The air emissions abatement market in North America is currently growing at an annualized rate of 5.4% and expected to be at $1.6B (USD) by 2027. The technologies servicing this market are divided into biological (30%), physical (40%) and chemical (30%).
Biological reactors use a variety of microorganisms, from bacteria to mold and fungi to destroy hazardous air pollutants. Essentially, these microorganisms utilize the air pollutants as a food source, degrading them to harmless by-products such as carbon dioxide and water vapour. BIOREM's unique engineered media provide reliable performance over a useful life of two or more decades, resulting in extremely low operating costs for customers.
Chemical treatment solutions in the context of gaseous phase pollutant abatement is typically where chemicals are injected into a recirculation fluid to remove specific contaminants from the gas stream. For example, sulfuric acid is employed to react with ammonia in an air stream and a caustic/hypochlorite solution may be used to address hydrogen sulfide and other sulfuric compounds. The chemicals utilized are consumables and their rate of consumption is a function of the pollutant mass loading.
BIOREM is a leading clean technology company that designs, manufactures and distributes a comprehensive line of high-efficiency air emissions control systems used to eliminate odors, volatile organic compounds (VOCs), and hazardous air pollutants (HAPs). With sales and manufacturing offices across the continent, a dedicated research facility, a worldwide sales representative network and more than 2000 installed systems worldwide, BIOREM offers state-of-the-art technology-based products and peace of mind for municipalities, industrial companies and their surrounding communities. Additional information on Biorem is available on our website at www.biorem.biz.
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SOURCE Biorem Inc.
