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): August 16, 2023 (August15, 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 August 15, 2023, the Company issued a press release entitled “Bion’sAdvanced Waste Treatment Technology Start-Up Yields Positive Early Results” 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’s Advanced Waste Treatment Technology Start-Up Yields Positive Early Results” (August 15, 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: August 16, 2023 | Name: | Mark A. Smith, President |
Exhibit 99.1
Bion’s AdvancedWaste Treatment Technology Start-Up Yields Positive Early Results
August 15, 2023. Fair Oaks, Indiana. Bion Environmental Technologies, Inc. (OTC QB: BNET), a leader in advanced livestock waste treatment technology and premium sustainable beef, reports it has completed initial system startup at its Fair Oaks demonstration facility and is very encouraged by early operational results. Bion has already been able to operate the system at ‘steady state’ for (planned) short run-times, producing purified, concentrated ammonium bicarbonate base liquid distillate from manure digestate.
Bion anticipates it will operate the integrated Ammonia Recovery System (ARS) for the next 3-4 weeks during the current operational phase – processing manure digestate. Steady state operational optimization will continue for at least an additional 8 weeks, to produce repeatable operating data that supports (or surpasses) the existing economic models. Bion will use the optimized operating data to complete the final design of the 15,000-head modules that will make up full-scale projects, that today include Olson Feeders, Dakota Valley Growers, and Ribbonwire Ranch.
The Fair Oaks project will demonstrate the effectiveness of Bion’s patented Ammonia Recovery System, the heart of Bion’s Gen3Tech platform, at commercial scale. Today, up to 80 percent of the nitrogen in manure waste – most of its fertilizer value – is lost via ammonia emissions. Bion’s ARS captures and stabilizes that ammonia, using the carbon dioxide also in the waste stream, to produce liquid organic- and low-carbon water-soluble nitrogen fertilizers that can be precision applied, when and where needed. The ARS upcycles the ammonia nitrogen that would have been lost, creating a new revenue source, while preventing its release to the environment, where today it contributes to nutrient runoff, harmful algae blooms and coastal dead zones, groundwater contamination, and the formation of PM2.5, small inhalable particulate matter that represents a significant human health risk.
To supplement its press releases, Bion will also post periodic updates regarding Fair Oaks progress on its website (full link below) and its social media channels, including Twitter, Linkedin, and Facebook (links on Bion’s website).
_______________________________
About Bion: Bion’s patented 3^rd^ generation technology (Gen3Tech) dramatically reduces the environmental impacts of large-scale livestock production, increases resource efficiencies by recovering high-value byproducts, and delivers a verified sustainable end product. The platform minimizes air, water, and soil pollution, while recovering low-carbon Climate Smart and organic fertilizer products and renewable energy. Bion is focused on developing the cleanest state-of-the-art cattle feeding operations in the world, that will produce premium beef with a sustainable brand certified by the USDA. For more information, 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’,‘anticipate(s)’, ‘believe(s)’, and similar expressions identify certain forward-looking statements. It shouldbe noted it is difficult to accurately predict the startup and optimization of a first-of-its-kind advanced waste treatment technologyplatform. The timelines discussed are estimates only. These statements are made in reliance on the Private Securities Litigation ReformAct, Section 27A of the Securities act of 1933, as amended. There are numerous risks and uncertainties that could result in actual resultsdiffering materially from expected outcomes.
Contact Information:
Craig Scott
SVP, Director of Communications
(406) 281-8178 direct