Following a year-end update on Bion Environmental Technologies, Inc. (OTC QB:BNET) has shared an additional update with its investors.
Following a year-end update on December 6, 2018, Bion Environmental Technologies, Inc. (OTC QB:BNET) has shared an additional corporate update with its investors, addressing key announcements from the US federal government that suggest it will be providing cost-share money for nutrient control strategies.
In a note to investors, Bion highlighted the three announcements, which included the US EPA Letter of Expectation to Pennsylvania regarding PA default on Chesapeake Bay Strategy, the joint US EPA – USDA announcement on nutrient control strategies and bipartisan legislation secures federal funding to combat algae blooms. These notices all suggest that the government will be providing cost-share money for nutrient control strategies and a widespread cleanup of livestock waste, including the adoption of private-sector solutions like that being developed by Bion.
There is no debate that livestock waste used as fertilizer is the largest source of unregulated nutrients in most of our major watersheds, which US EPA calls the greatest water quality problem today,” the company noted in a closing statement. “Over the last decade, algae blooms – increasingly toxic – and dead zones have spread at an alarming rate. More recently, nitrate-contaminated groundwater (drinking water) has been identified in a growing number of states. The largest livestock facilities, with their scale and concentration, offer the best opportunity for high-impact cost-effective nutrient reductions. The real issue is how to stimulate and pay for widespread cleanup. We think federal funding is coming soon.”