Bion Environmental Technologies Secures $500,000 Financing
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Bion Environmental Technologies Secures $500,000 Financing
Bion Environmental Technologies, Inc. (OTC QB: BNET), a leader in advanced livestock waste treatment technology and sustainable livestock production, announced that it has received a commitment from a group led by its three newest board members for $500,000 in short-term financing.
Details of the Financing
Details of the transaction will be available in an 8-k filing. The short-term facility will consist of a note that can be converted into shares during Bion’s next offering. Proceeds from this financing will be used to support the company’s operations until a larger offering can be completed, ensuring continuity in its operations.
Leadership and Strategic Initiatives
Bion’s new leadership team is planning to focus on key projects, including the Stovall Ranching Company joint venture aimed at producing premium beef. Additionally, they are exploring standalone opportunities to provide ammonia control solutions in both industrial and municipal sectors.
Comments from Interim CEO
Craig Scott, Bion’s interim CEO, expressed confidence in the company's technology and leadership. He stated, “It's no secret we ran out of both leadership and cash; but we are serious about putting the train back on the tracks. The train – our technology – did not break. In fact, it has exceeded expectations. This new leadership group brings a commercialization mindset and a no-nonsense approach that this company needs.” He emphasized that the core team is focused on advancing the company’s market position.
Innovative Technology
Bion Environmental Technologies offers a patented Ammonia Recovery System that converts animal manure and other organic waste into organic and low-carbon nitrogen fertilizer products, along with clean water. This system supports Bion’s Gen3Tech initiative, aimed at minimizing the environmental effects from concentrated animal feeding operations (CAFOs). It also facilitates the generation of Renewable Natural Gas, improves resource efficiency, and produces ethically sourced beef.
Commitment to Sustainable Practices
As a forward-thinking company, Bion is dedicated to developing state-of-the-art indoor cattle feeding operations. The firm is committed to providing solutions that align with the growing clean fuels sector, making significant strides toward sustainability in livestock production.
Contact Information
For further information, please reach out to:
Craig Scott
Interim CEO
(406) 281-8178 direct
Frequently Asked Questions
What is the recent financing received by Bion Environmental Technologies?
Bion Environmental Technologies secured a commitment for $500,000 in short-term financing from a group led by its new board members.
How will the funds from this financing be utilized?
The proceeds will be used to maintain the company’s operations until a larger capital offering can be completed.
What are Bion's key projects under the new leadership?
Bion aims to focus on the Stovall Ranching Company JV, producing premium beef, and offering ammonia control solutions across various sectors.
Who is the interim CEO of Bion Environmental Technologies?
Craig Scott serves as the interim CEO, leading the company through its transitional phase with a focus on commercialization.
What technology does Bion Environmental Technologies specialize in?
Bion specializes in advanced livestock waste treatment technology and offers systems that convert waste into low-carbon fertilizers and renewable natural gas.
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