BIOREM Inc. (TSXV: BRM) ("Biorem" or "the Company") today announced that it has received a patent (US 8,772,015 B2) for its innovative biological air purification media. This green technology has passed laboratory and pilot testing and is now in full scale field trials. The media has been developed to meet very high levels of performance in a shorter residence time than ever before achieved using a biological process, and will open up new market opportunities for Biorem.
Once field trials are successfully completed, this technology will be offered as a means of extending the life of Granular Activated Carbon (GAC) currently commonly used for the treatment of municipal and industrial exhausts. Since it will remove most of the contaminants upstream of the carbon system, it is expected to increase carbon life by a factor of up to ten, resulting in significant cost savings for the customer, and environmental benefits. The market for carbon replacement is large, exceeding $100 million annually in North America alone and is incremental to our existing markets.
"We have been working on this technology solution for several years now and are pleased with the research results and particularly, the strength of the patent. One particular feature of this media is that it tends to destroy compounds that are not easily adsorbed into GAC systems making it the ideal complement to GAC," said Peter Bruijns, President & CEO. "This new technology has other uses such as commercial, institutional or industrial indoor air quality applications which are a new market opportunity for Biorem."
General information on GAC: GAC is used to adsorb air pollutants from an air stream thus purifying the air. However, GAC has a fixed storage capacity and once it is full (fully adsorbed) it must be replaced or regenerated. Replacement or regeneration of GAC can occur in as little as 3 months or as long as 2 years depending on the concentration of the pollution being treated. GAC is a reliable and proven technology, however, the combustion process used to create and regenerate GAC results in generation of greenhouse gases and other airborne contaminants. For every pound of GAC manufactured approximately 8lbs of CO2 is emitted to atmosphere. A typical small system would utilize approximately 3,000lbs of GAC resulting in 12 Tons of CO2 emissions every time carbon is replaced.
Biorem additionally announced that it has retained Questrade, Inc. to provide market-making services, in accordance with TSX Venture Exchange ("Exchange") guidelines. Questrade will buy and sell shares of the Company on the Exchange for the purpose of facilitating trading or providing liquidity in the Company's common shares.
The term of the agreement is one year, beginning December 1, 2014, at a cost of $5,000 per month. Questrade will not receive shares or options as compensation. The Company and Questrade are unrelated and unaffiliated entities, but Questrade and its clients may have or may acquire a direct interest in the Company's securities.
The agreement is subject to the approval of the Exchange.