8-K
BION ENVIRONMENTAL TECHNOLOGIES INC (BNET)
UNITED STATES
SECURITIES AND
EXCHANGE COMMISSION
WASHINGTON, D.C.
20549
FORM 8-K
CURRENT REPORT
Pursuant to Section
13 or 15(d) of the
Securities Exchange
Act of 1934
Date ofReport (Date of earliest event reported): April 25, 2023 (April24, 2023**)**
BION
ENVIRONMENTAL TECHNOLOGIES, INC.
Exact name of Registrant
as Specified in its Charter
| Colorado | 000-19333 | 84-1176672 |
|---|---|---|
| State or Other Jurisdiction<br> of Incorporation | Commission File Number | IRS Employer Identification<br> Number |
9
East Park Court
OldBethpage**, NewYork**
11804
Address of Principal
Executive Offices, Including Zip Code
516-586-5643
Registrant's Telephone
Number, Including Area Code
Not applicable
Former name or former
address, if changed since last report
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ | Written<br> communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|---|---|
| ☐ | Soliciting<br> material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| --- | --- |
| ☐ | Pre-commencement<br> communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| --- | --- |
| ☐ | Pre-commencement<br> communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| --- | --- |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
|---|
Indicate by check mark whether the registrant is an emerging growth company as defined in in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
| Emerging growth<br> company ¨ |
|---|
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Item 7.01 RegulationFD Disclosure.
On April 24, 2023, the Company issued a press release entitled “Bionand Dakota Valley Growers Announce LOI for Sustainable Beef Project ” which press release has been placed on the Investors page of our website.
Item 9.01 Financial
Statements and Exhibits.
(d) Exhibits.
| Exhibit No. | Description |
|---|---|
| 99.1 | Press Release<br> titled “Bion and Dakota Valley Growers Announce LOI for Sustainable Beef Project” (April 24, 2023) |
| 104 | Cover Page Interactive Data File<br> (the cover page XBRL tags are embedded within the inline XBRL document) |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| BION ENVIRONMENTAL TECHNOLOGIES, INC. | ||
|---|---|---|
| By: | /s/ Mark A. Smith | |
| Date: April 25,<br> 2023 | Name: | Mark A. Smith, President |
Exhibit 99.1
Bion and Dakota Valley Growers Announce LOI for SustainableBeef Project
April 24, 2023. New York. New York. Bion Environmental Technologies, Inc. (OTC QB: BNET), a leader in advanced livestock waste treatment technology and premium sustainable beef, and Dakota Valley Growers, a cattle feeder near Bathgate, North Dakota, announced a letter of intent to develop a 15,000-head sustainable beef cattle feeding operation. Annual production from the facility is expected to be approximately 42,500 head of premium sustainable beef cattle.
The Dakota Valley Growers (DVG) project will have indoor barns to ensure the cattle are adding protein instead of burning calories to stay warm or fight through mud. The barns will have slatted floors with continuous manure removal and processing. Anaerobic digesters will recover nearly 84,000 MMBTU of RNG, enough to replace 643,000 gallons of diesel with a low-carbon alternative transportation fuel.
Bion’s Gen3Tech system will capture and stabilize the volatile ammonia nitrogen in the manure stream, where it will be upcycled to a low carbon ‘Climate Smart’ pure nitrogen fertilizer product that can be precision applied when and where needed. The DVG cattle will produce approximately 4,000 tons of sustainably produced nitrogen fertilizer annually, enough to fertilize over 11,000 acres of North Dakota corn. The system will recover other fertilizer products, some organic, as well as nine million gallons of clean water that can be used for irrigation or watering the herd with minimal additional treatment.
RNG, nutrient, and water recovery will be transparent, third-party verified, and supported by blockchain. That data, coupled with cattle production history, will underpin a sustainable brand certified by the USDA’s Process-Verified-Program (PVP). Sustainability will be measured by improvements in resource efficiencies, animal health and welfare, and reduced impacts to air, water, and soil, and will be communicated to the consumer at the point of sale. Tyson Foods recently said, “consumers would be willing to pay at least 24 percent more for environmentally friendly, sustainable options at retail.”
Russell Edgar, founder of Dakota Valley Growers, said, “Bion can help us produce a better, more sustainable product and improve our bottom line at the same time. We are eager to get started. We have an opportunity to feed cattle right here in North Dakota, instead of sending more than 900,000 feeder calves south every year. That will increase local demand for corn and other feeds, services, and jobs. We all win. That’s good business for Dakota Valley Growers and good business for North Dakota and our corn farmers and cow-calf producers.”
Ed Schafer, a member of Bion’s Board and former US Secretary of Agriculture and North Dakota Governor, said, “North Dakota has a long and rich farming and ranching history. It may have made sense in the past to ship both our corn and calves south for finishing – no longer. We look forward to working with the Edgars and the North Dakota Livestock Alliance, Beef Commission, and Stockmen’s Association, and other stakeholders to develop projects to supply the most Climate-Smart – and Water-Smart – beef cattle in the world, from right here in North Dakota.”
_________________________________
About Dakota Valley Growers: DVG is a 6^th^ generation family owned and operated farming and cattle feeding operation located in the Red River Valley in northeast North Dakota, near Bathgate. The farm was established in 1879; the Edgar family now farms 4,200 acres to produce corn, alfalfa, grass hay, beans, and barley. They have produced and fed cattle for 20 years. For more, see DVG’s website at https://dakotavalleygrowers.com.
About Bion: Bion’s patented 3^rd^ generation technology (Gen3Tech) dramatically reduces the environmental impacts of large-scale livestock production, increases resource efficiencies, and delivers a verified sustainable product. The platform prevents pollution of air, water, and soil, while recovering low-carbon Climate Smart and organic fertilizer products and renewable energy. Bion is focused on developing clean state-of-the-art cattle feeding operations to produce premium beef with a sustainable brand certified by the USDA. For more, see Bion’s website at https://bionenviro.com.
This material includesforward-looking statements based on management's current reasonable business expectations. In this document, the words ‘will’,‘look forward (to)’, and similar expressions identify certain forward-looking statements. These statements are made in relianceon the Private Securities Litigation Reform Act, Section 27A of the Securities act of 1933, as amended. There are numerous risks and uncertaintiesthat could result in actual results differing materially from expected outcomes.
Contact Information:
Craig Scott
SVP, Director of Communications
(406) 281-8178 direct