Bion Environment Stock Price, News & Analysis

Bion Environmental Technologies (OTC QB: BNET) has secured $500,000 in short-term financing from a group led by its three newest board members. The financing will be in the form of a note convertible into shares at the terms of Bion's next offering. Proceeds will maintain operations until a larger offering can be completed.

The company plans to pursue two main opportunities: the Stovall Ranching Company JV for premium Montana beef production and standalone ammonia control solutions for industrial and municipal sectors. Interim CEO Craig Scott acknowledged past leadership and cash flow issues but emphasized the company's technology has exceeded expectations.

Bion's patented Ammonia Recovery System produces organic and low-carbon nitrogen fertilizer products and clean water from animal manure and other organic waste streams. The company is focusing on developing state-of-the-art indoor cattle feeding operations and providing solutions in the clean fuels industry.

Bion Environmental Technologies announced the appointment of Turk Stovall and Bob Weerts to its Board of Directors. Stovall, a fifth-generation Montana rancher and CEO of Stovall Ranching Companies, brings extensive experience in cattle feeding and will also lead a JV to develop a new cattle feeding facility in Shepherd, Montana. Weerts, a Minnesota-based entrepreneur and long-time Bion shareholder, has a diverse business background in areas like erosion control, sod farming, and energy development. Bion's Head of Business Development, Craig Scott, highlighted their valuable expertise in bolstering Bion's commercialization and project development efforts.

Stovall Ranching Companies and Bion Environmental Technologies have announced a partnership to develop a state-of-the-art cattle feeding facility in Shepherd, Montana. The facility, designed to house 15,000 cattle, aims to produce high-quality, eco-friendly beef using Bion's advanced waste treatment and resource recovery technology. This includes solar power, organic fertilizers, and clean water harvesting systems. Turk Stovall, CEO of Stovall Ranching Companies, will join Bion’s Board of Directors and lead the venture. Both companies believe this project will set a new standard for sustainable beef production and could serve as a model for future facilities.

Bion Environmental Technologies has announced key leadership changes as it refocuses its efforts on project execution and development. CEO Bill O’Neill has resigned effective June 1, 2024, to pursue other interests, with Greg Schoener taking over as Interim Chief Operating Officer and joining the Board of Directors on the same date. Craig Scott, who has held various senior positions at Bion since 1996, has also joined the Board of Directors and will take on broader management duties.

Mark Smith, Chairman of the Board and President, was set to retire at the end of June 2024 but will continue to assist with the transition. The company remains focused on its capital needs and the engineering of its Ammonia Recovery System (ARS) at Fair Oaks, targeting cost-effective ammonia control for industrial organic waste streams, particularly in the meat packing/slaughter sector. Bion expects to commence a new project shortly and aims to leverage tougher EPA discharge standards to capitalize on its sustainable beef opportunity.

Bion Environmental Technologies (OTC QB: BNET) provided a comprehensive company update. The firm faced several challenges, including construction delays at Fair Oaks and management transitions following the passing of their long-term CEO/COO. These issues have hindered their ability to raise capital through traditional channels. Bion is in discussions with potential partners in clean energy, utilities, and agriculture to secure strategic investments. Despite financial setbacks, Bion remains optimistic about its Ammonia Recovery System (ARS), which has shown promising results in initial tests. The ARS technology, which extends to industrial and municipal waste streams, could accelerate revenue growth. Bion is also exploring opportunities in the sustainable beef industry, seeking distribution partners for its projects which could offer a unique solution for Renewable Natural Gas (RNG) from beef waste.