Tickers: XTSX:BQE, PINX:BTQNF
Tags: Environment
VANCOUVER, BC / TheNewswire / December 3, 2018 - BQE Water Inc. (TSX-V: BQE), a leader in the management of mine wastewater and metallurgical bleed streams has been awarded an interest-free repayable contribution of $412,000 from the Western Innovation (WINN) Initiative to support the commercialization of the Company's selenium removal technology Selen-IX(TM) in key markets.
The funding will give BQE Water access up to the amount awarded for activities to commercialize Selen-IX(TM) including technical advancements to broaden market applicability, marketing and business development to facilitate penetration of these markets, and expansion of the Company's in-house resources and capabilities to deliver Selen-IX(TM) to diverse market sectors.
"The Government of Canada is working hard to help Western Canadian entrepreneurs turn their ideas into thriving businesses and create good middle class jobs," said The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for Western Economic Diversification Canada. "I congratulate BQE Water for commercializing a green technology solution that keeps our natural resource sector a sustainable source of opportunity and prosperity for Canadians."
"We are very pleased that BQE Water and our Selen-IX(TM) technology was selected for the WINN initiative which is very competitive and involves rigorous screening across technical and commercial criteria," stated David Kratochvil, President and CEO of BQE Water. "The funds will provide BQE Water with the flexibility all innovators need to successfully roll-out their technologies and accelerate growth through faster and wider industry adoption."
WINN is a Government of Canada initiative that offers repayable funding for Western Canadian companies to bring innovative products, processes and services to market.
About Selen-IX(TM)
Selen-IX(TM) is a water treatment process technology that combines ion exchange and electro-reduction to remove selenium from large volumes of wastewater. A purely physico-chemical process, Selen-IX(TM) is insensitive to water temperatures and is highly adaptable to variabilities in water flows and selenium levels.
About Selenium
Selenium is a naturally occurring element essential to all life forms in trace amounts. Selenium is released into water by industrial activities in the mining, metal smelting and refining, oil & gas and fossil fuel power generation sectors. When selenium is present in water at higher concentrations, it is harmful to most fish and other aquatic life. As a result, selenium management has been identified as an important environmental issue by regulators and industries in North America.
About BQE Water
BQE Water is a leading provider of sustainable mine water solutions that support and improve the performance of mining and smelting operations. Founded on the belief that water liabilities could be opportunities, BQE Water is working to change the way the industry views and assesses options to solve mine water challenges. BQE Water is headquartered in Vancouver, Canada and trades on the TSX Venture Exchange under the symbol BQE. Visit www.bqewater.com for more information.
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The Toronto Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Certain information contained herein may not be based on historical fact and therefore constitutes "forward-looking information" under applicable Canadian securities legislation. This includes without limitation statements containing the words "plan", "expect", "project", "estimate", "intend", "believe", "anticipate", "may", "will" and other similar words or expressions. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks, uncertainties and other factors that may cause actual events or results to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, the Company's dependence on key personnel and contracts, uncertainty with respect to the profitability of the Company's technologies, competition, technology risk, the Company's ability to protect its intellectual property and proprietary information, fluctuations in commodity prices, currency risk, environmental regulation and the Company's ability to manage growth and other factors described in the Company's filings with the Canadian securities regulators at www.sedar.com (including without limitation the factors described in the section entitled "Risks and Uncertainties" in the Company's MD&A for the year ended December 31, 2017). Given these risks and uncertainties, the reader is cautioned not to place undue reliance on forward-looking statements. All forward-looking information contained herein is based on management's current expectations and the Company undertakes no obligation to revise or update such forward-looking information to reflect subsequent events or circumstances, except as required by law.
For further information please contact:
BQE Water Inc.
Suite 250 - 900 Howe Street
Vancouver BC Canada V6Z 2M4
David Kratochvil, President & CEO
Heman Wong, CFO
604-685-1243 or 1-800-537-3073
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