Press release from CNW Group
BIOX wins Technology Green 15 award from Deloitte
Wednesday, October 19, 2011
TSX symbol: BX
TORONTO, Oct. 19, 2011 /CNW/ - BIOX Corporation (BIOX) (TSX: BX), a renewable energy company that designs, builds, owns and operates biodiesel production facilities, today announced that it has been named one of the Technology Green 15™ companies by Deloitte. The award showcases 15 Canadian companies that are leading the way to create major breakthroughs in the field of green technology. BIOX won for its proprietary biodiesel production technology that forms the backbone of its 67 million litre nameplate facility in Hamilton, Ontario which has been operating at full production capacity since 2008.
"This award recognizes the impact of not only our proprietary biodiesel production technology but also the role renewable biodiesel can play in fueling economic growth in Canada," said Kevin Norton, Chief Executive Officer of BIOX Corporation. "Our technology is ideally suited to contribute meaningful biodiesel supply to help fulfill the mandated minimum blending requirements that are now law in Canada and the U.S. The successful track record of production from our Hamilton facility that won us this award supports our planned expansion including a second proposed manufacturing plant in the U.S."
"The Deloitte Technology Green 15 Award recognizes those Canadian companies that offer solutions to global environmental challenges by creating intellectual property and technology that reduce society's environmental impact," said Richard Lee, National Leader, Technology, Media & Telecommunications Industry Group, Deloitte. "Companies such as BIOX are creating technology solutions that have a significant environmental impact and demonstrate a compelling return on investment, despite facing tough economic times. In doing so, they are helping position Canada as a global leader in the development of commercially viable green technology."
About the Deloitte Technology Green 15™
The Technology Green 15™ recognizes Canada's leading GreenTech companies. GreenTech, the industry term for "green technologies", is taking on greater importance in the world in general, and the world of business in particular. It includes any technology that promotes a more efficient use and re-use of the earth's resources in industrial production and consumption. GreenTech products and services are designed to reduce or eliminate environmental impacts and improve operational performance, productivity, or efficiency while reducing costs, inputs, energy consumption, waste, or pollution. Although many companies within GreenTech industry sectors are very different, they share a common trait: all use new, innovative technology to create products and services that compete with existing products and services on price and performance while reducing impact on the environment.
About BIOX Corporation
BIOX is a renewable energy company that designs, builds, owns and operates biodiesel production facilities. BIOX currently owns and operates a biodiesel production facility in Hamilton, Ontario, Canada with a nameplate capacity of 67 million litres per year. BIOX has an innovative, proprietary and patented production process that is capable of producing the highest quality, renewable, clean burning and biodegradable biodiesel fuel utilizing a variety of feedstocks - from pure seed oils to animal fats to recovered vegetable oils with no change to the production process. BIOX's high quality biodiesel fuel meets North American (ASTM D-6751) quality standards. BIOX is Canada's largest biodiesel producer and is focused on building, owning and operating a network of commercial scale biodiesel production facilities in jurisdictions where clearly defined renewable fuel standards policies exist.
Certain statements in this press release constitute "forward-looking" statements that involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, objectives or achievements of BIOX, or industry results, to be materially different from any future results, performance, objectives or achievements expressed or implied by such forward-looking statements. These statements reflect BIOX's current views regarding future events and operating performance are based on information currently available to BIOX, and speak only as of the date of this press release. These forward-looking statements involve a number of risks, uncertainties and assumptions and should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such performance or results will be achieved. Those assumptions and risks include, but are not limited to, the fact that BIOX's results of operations and business outlook are highly dependent on a mix of legislation and producer payment programs and tax credits; and upon commodity prices, which are subject to significant volatility and uncertainty. Many factors could cause the actual results, performance or achievements of BIOX to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including factors described in this press release and those discussed in BIOX's publicly available disclosure documents, as filed by BIOX on SEDAR (www.sedar.com). Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described in this press release as intended, planned, anticipated, believed, estimated or expected. Unless required by applicable securities law, BIOX does not intend and does not assume any obligation to update these forward-looking statements.
For further information:
| BIOX Corporation |
Executive Vice President & CFO
Phone: (905) 337-4970
| Investor Relations |
Phone: (416) 815-0700 ext. 238