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Bion Announces PENNVEST Board Approves $7.8 Million Financing for Kreider Farms Dairy Project
Date:1/28/2009

, as well as all other stakeholders, to develop policies that will support long term capital investment in livestock waste treatment facilities. The results of a recent study commissioned by the Pennsylvania state legislature projects an average nutrient removal cost of $28 per pound of nutrient per year to upgrade existing wastewater plants. Bion anticipates that it will be able to reduce that projected cost by as much as 75%, based upon its models and anticipated policy modifications.

Bion's project at Kreider Farms will be the first comprehensive on-farm waste treatment plant installation in the state, generating a steady stream of more than 100,000 credits per year. In addition to this initial dairy installation, Bion is working on a second phase of the project that it believes will generate in excess of 1 million additional credits. Phase 2 is anticipated to include a renewable energy production facility that will convert cellulose in the waste stream into usable thermal energy. According to the Chesapeake Bay Tributary Strategy, Pennsylvania's municipal wastewater treatment plants that ultimately discharge into the Susquehanna River watershed are required to reduce or offset their nutrient discharges by 7.5 million pounds per year.

Mark A. Smith, Bion's President, stated, "We are extremely pleased with the PENNVEST Board's loan approval. This is a great example of what Pennsylvania's nutrient credit trading program was designed to do: achieve nutrient reductions required under the Chesapeake Bay Strategy at a fraction of the cost to upgrade municipal waste treatment plants. This value proposition is the essence of what new technologies and solutions need to accomplish - doing more with less - one of Bion's core principles. We look forward to working with PENNVEST, the PA DEP, US EPA and other stakeholders to achieve permanent, effective, and affordable solutions for the Chesapeake Bay."

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SOURCE Bion Environmental Technologies, Inc.
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