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): January 5, 2024 (January4, 2024**)**
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 Regulation FD Disclosure.
On January 4, 2024, the Company issued a press release entitled “Bion’sAmmonia Recovery Technology Optimization Moves to Final Design” 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<br> Release titled “Bion’s Ammonia Recovery Technology Optimization Moves to Final Design”<br> (dated January 4, 2024) |
| 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: January 5,<br> 2024 | Name: | Mark A. Smith, President |
Exhibit 99.1
Bion’s Ammonia Recovery Technology Optimization Movesto Final Design
January 4, 2024. Fair Oaks, Indiana. Bion Environmental Technologies, Inc. (OTC QB: BNET), a leader in advanced livestock waste treatment technology and premium sustainable beef, announced it has achieved key objectives in the optimization of its Ammonia Recovery System (ARS) at the company’s commercial-scale demonstration facility in Fair Oaks, Indiana. Bion will now begin the final design process for full-scale systems.
Bion’s ARS produces premium fertilizer products from the volatile ammonia in livestock waste. Final economic and energy efficiency models will be validated during the final design process, which should be completed in the first quarter of 2024. Bion will engage an engineering firm to prepare a third-party evaluation of the ARS. Operating results to date at Fair Oaks indicate ARS performance will exceed initial expectations for ammonia recovery and economics.
The ARS stabilizes the ammonia with CO2, also from the waste, producing precision low carbon and organic nitrogen fertilizers. Most of the nitrogen in livestock waste is lost as ammonia, both a waste of resources and a significant source of air and water pollution worldwide. Value-added nitrogen fertilizers will create new revenues and the economics needed to export excess nitrogen from impaired watersheds to where it is needed.
Several applications to OMRI (Organic Materials Review Institute) and CDFA (California Department of Food and Agriculture) are being prepared for listing and certification of new organic products. Bion received an OMRI-Listing in 2020 for its initial product. Bion will continue producing liquid and crystal fertilizers to support testing and life-cycle analysis, product trials, and ongoing organic initiatives.
Bion’s patents apply to any organic waste stream where anaerobic digestion (AD) is used to produce biogas: any livestock waste; food and food processing waste; municipal wastewater; and others. Recent trends in Michigan and California indicate an evolving regulatory focus on ammonia, nitrates, and animal waste AD. Bion’s ARS technology offers a timely solution to this problem.
Bill O’Neill, Bion’s CEO, said, “Our operational progress keeps us on track to commercialize both the technology and our sustainable beef production model. Though delayed by supply chain disruptions, the demonstration at Fair Oaks has confirmed the system’s state-of-the-art capabilities. The wide applicability of the ARS and its environmental benefits cannot be overstated, as livestock-related nutrient issues grow globally.”
_______________________________
About Bion: Bion’s patented third generation technology (Gen3Tech) minimizes environmental impacts of large-scale livestock production, increases resource and production efficiencies, and will deliver a premium product with a USDA-certified sustainable brand to the consumer. The platform prevents pollution to air, water, and soil, while recovering clean water, high-value organic and low-carbon precision fertilizer coproducts, and renewable energy. Bion is focused on developing state-of-the-art indoor cattle feeding operations that will produce truly sustainable premium beef. 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’,‘should’, ‘anticipate(s)’ and similar expressions identify certain forward-looking statements. It should be notedit is difficult to accurately predict the startup and optimization of a first-of-its-kind advanced waste treatment technology platform.The timelines discussed are estimates only. These statements are made in reliance on the Private Securities Litigation Reform Act, Section27A of the Securities act of 1933, as amended. There are numerous risks and uncertainties that could result in actual results differingmaterially from expected outcomes.
Contact Information:
Craig Scott
SVP, Director of Communications
(406) 281-8178 direct