NEW YORK, July 9, 2012 /PRNewswire/ -- Bion Environmental Technologies, Inc. (OTC BB/QB: BNET) addressed today the recent confusion over similarities in name and symbol with BioNitrogen Corporation (Pink Sheets: BION).
Bion Environmental Technologies trades on the OTC Bulletin Board and OTC QB markets under the symbol BNET. Bion is a Colorado corporation (since 1989) with headquarters in New York and is fully-reporting under the Securities and Exchange Act of 1934. The Company has developed a micro-aerobic waste treatment technology that provides the only comprehensive solution to the environmental impacts of livestock production waste while simultaneously recovering valuable assets from the waste stream, including renewable energy and the nutrients phosphorus and nitrogen.
BioNitrogen Corporation trades on the OTC Pink Sheets under the symbol BION, which has created the confusion. BioNitrogen was incorporated in 2009, more than 20 years after Bion Environmental Technologies began using its name. BioNitrogen does not report under the SEC Act of 1934. According to the Company's website, "BioNitrogen is an American company focused on building fully operational, turnkey manufacturing facilities in the global marketplace to produce urea [nitrogen-based crop fertilizer]." According to the OTC Markets website, BioNitrogen is a development-stage company that recently closed on a financing "to complete the basic engineering design and advance towards the process of building plants and producing urea." The Company's technology is patent-pending.
In contrast, Bion Environmental Technologies has provided solutions to the livestock industry for 22 years, with 30 of its first-generation systems installed through 2003. The Company held the grand opening of its showcase second-generation system in July 2011 at Kreider Farms, in Lancaster County, PA. The project was financed by the Pennsylvania Infrastructure Investment Authori
|SOURCE Bion Environmental Technologies, Inc.|
Copyright©2012 PR Newswire.
All rights reserved