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): February 15, 2023 (February13, 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 February 13, 2023, the Company issued a press release entitled “Bion Provides Fair Oaks Demonstration and Optimization Project Update” 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 Provides Fair Oaks Demonstration and Optimization Project Update” (February 13, 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: February 15,<br> 2023 | Name: | Mark A. Smith, President |
Exhibit 99.1
BionProvides Fair Oaks Demonstration and Optimization Project Update
February13, 2023. New York. New York. Bion Environmental Technologies, Inc. (OTC QB: BNET), a developer of advanced livestock waste treatment technology and premium sustainable beef, announced that the first shipment of process units for the commercial scale demonstration and optimization project at Fair Oaks, Indiana, has been delivered on-site.
The structure that will house the system has been completed; facility services, including electrical, will be installed concurrently with the assembly of the process units. The first shipment included the evaporator, pre-heaters and associated thermal exchange units. Final inspections of the remaining units, including the distillation and absorption columns, diffusion tanks and defoaming units, are now being conducted at Buflovak/Hebeler Process Solutions, LLC, Bion’s process engineering and equipment fabrication vendor located in Buffalo, New York. They will be shipped to Fair Oaks within a week of final inspection verification, which is scheduled for February 15. No further delays associated with supply chain issues or fabrication are expected. Bion anticipates assembly will be completed in mid-April, followed by start-up and preliminary data soon after.
The demonstration and optimization system at Fair Oaks is at commercial scale, designed to treat and recover the ammonia from the waste load from approximately 1,500 cattle. Once optimized steady-state operations have been achieved, Bion will have the data needed to complete the final design of the systems needed to treat the waste from the 15,000-head module(s) that comprise a Bion project. That will allow Bion to move forward with project development, including financing and permitting, on multiple fronts.
Bill O’Neill, Bion’s CEO, said, “We are really looking forward to checking the boxes at Fair Oaks. While we know the technology works and moreover that it will perform even better as we scale it up, we understand it is critical that we prove that to our potential JV partners that have not been involved in our technology development. We are excited to get that accomplished, as well as produce the data that will allow us to design optimal performance into our 15,000-head facilities that support the projects we intend to begin developing this year.”
_________________________________
About Bion: Bion’s patented third generation technology (Gen3Tech) was designed to largely mitigate the environmental impacts of large-scale livestock production, increase its resource efficiencies, and deliver a USDA-certified sustainable product to the consumer. The platform simultaneously prevents pollution to air, water, and soil, while recovering high-value organic fertilizer coproducts and renewable energy that increase revenues. Bion’s Gen3Tech platform can create a pathway to true economic and environmental sustainability with ‘win-win’ benefits for a premium sector of the $175 billion U.S. livestock industry and the consumer. For more information, see Bion’s website at https://bionenviro.com.
Thismaterial includes forward-looking statements based on management's current reasonable business expectations. In this document, the words‘will’, ‘expect(ed)’, ‘scheduled (for)’, and similar expressions identify certain forward-lookingstatements. These statements are made in reliance on the Private Securities Litigation Reform Act, Section 27A of the Securities actof 1933, as amended. There are numerous risks and uncertainties that could result in actual results differing materially from expectedoutcomes.
ContactInformation:
Craig Scott
SVP, Director of Communications
303-898-4945 direct