Bion's former CEO and Technology Co-inventor Passes

Bion Environmental Technologies, Inc. (OTC QB: BNET), a leader in advanced livestock waste treatment technology and premium sustainable beef, announced several leadership changes as it refocuses on execution and commencing project development.

Bion has accepted the resignation of Bill O'Neill, its Chief Executive Officer, which became effective on June 1. Mr. O'Neill is departing to pursue other interests. He will work with Bion management through the end of June to help ensure a smooth transition. Mr. O'Neill's resignation from Bion's Board of Directors was also accepted.

Bion Environmental Technologies, Inc. (OTC QB: BNET), a leader in advanced livestock waste treatment technology and premium sustainable beef, gave the following company update:

We have faced several challenges in the last year that began with the construction delays at Fair Oaks and were complicated by ongoing management transition issues (resulting from the passing of our long-term CEO/COO). As a result, we have been unable to raise sufficient capital through our traditional retail sources. We are exploring all strategic options to raise capital and propel the company forward.  We knew that building a team and platform to commercialize our technology would require substantial strategic investment.  We are optimistic about our ongoing conversations with potential clean energy, utility, and agriculture partners, and we have begun raising capital with existing shareholders to fund near-term requirements.

Bion Environmental Technologies, Inc. (OTC QB: BNET), a leader in advanced livestock waste treatment technology and premium sustainable beef, announced that several of its largest shareholders have agreed to return up to 30 percent of their holdings to the company for cancellation.

Heirs of Dominic Bassani, Bion's former CEO and largest shareholder who passed in November, will return approximately 20 percent before the Company's June 30, 2024, fiscal year end, with another 10 percent upon Bion meeting funding milestones that are consistent with the company's growth objectives. Mark Smith, Bion's current President, who is transitioning to retirement during this year, will return approximately 30 percent of his holdings over the next month.

Bion Environmental Technologies, Inc. (OTC QB: BNET), a developer of advanced livestock waste treatment and resource recovery technology, announced it has applied to the Organic Materials Review Institute (OMRI) for an OMRI listing for its liquid 10-0-0 nitrogen fertilizer that is produced from livestock waste.

Bion's fertilizer – ammonium bicarbonate – is a stable, readily available source of nitrogen that is upcycled in a patented process from the reactive ammonia in livestock and other organic waste streams. In 2020, Bion received an OMRI listing for its initial product, a 0.5 percent ammonium bicarbonate solution. Bion is also preparing an application to the California Department of Food Agriculture (CDFA) for a 6-0-0 nitrogen fertilizer product; CDFA organic certification will expand the markets for Bion's fertilizer products.

Bion Environmental Technologies, Inc. (OTC QB: BNET), a leader in advanced livestock waste treatment technology and premium sustainable beef, was issued a new patent that broadens its Ammonia Recovery System (ARS) claims to include industrial and municipal wastewater streams.

Bion's ARS was developed to recover the volatile ammonia in livestock waste streams, with a focus on the discharge from an anaerobic digester (AD), where biogas is produced. Bion just optimized the ARS at its Fair Oaks facility for the final design process for full-scale animal waste systems. With this fifth patent, Bion's IP now covers organic waste streams from industrial and municipal sources, as well.