Lifequest Subsidiary, a Joint Venture in Bangladesh Receives Two Orders for 100m3/day and 180m3/day Biopipe Zero Sludge Sewage Wastewater Treatment Plants

Rhea-AI Summary

LIFEQUEST WORLD CORP (LQWC) announced that its subsidiary, Biopipe Global Corp, has secured two significant orders in Bangladesh. These orders include a 100m3/day wastewater treatment plant for a government office and a 180m3/day plant for a hotel. Despite challenges posed by Covid-19, Biopipe Innovation's Executive Director expressed optimism for future opportunities. Additionally, CEO Max Khan noted ongoing efforts to implement strategies in South Africa and Turkey, along with pending decisions on a major government tender in Ethiopia.

Positive

• Secured two new orders in Bangladesh for wastewater treatment plants.
• Continues to gain traction in Bangladesh despite Covid-19 challenges.
• Anticipating additional orders and future growth in the hospitality sector.

Negative

• Commercial activity impacted due to Covid-19 related lockdowns.
• Delayed tenders may hinder short-term growth prospects.

RIDGEFIELD PARK, NEW JERSEY, May 13, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- LIFEQUEST WORLD CORP (LQWC) subsidiary, Biopipe Global Corp., which developed the world’s only highly scalable onsite sludge, odor and chemical free sewage wastewater treatment technology, is pleased to announce that its joint venture in Bangladesh has received two new orders for a 100m3/day plant for a government building and 180m3/day plant for a hotel.

Ekram Zaman, Executive Director of Biopipe Innovation, our joint venture in Bangladesh, said, “In spite of severe Covid-19 situation, we are pleased to close two additional orders -- one for a government office building and the other for a hotel. Once commissioned, the hotel plant will help us pursue the hospitality sector more aggressively. Several tenders have been delayed due to lockdown, but we are confident that we will win those tenders once they come back on line.”

Max Khan, CEO of Lifequest, said, “Covid-19 has impacted commercial activity in our key markets but we continue to gain traction in Bangladesh. We are expecting additional orders in the near future. With capex decisions postponed due to lockdown, we are vigorously working to implement our Build Own Operate and Build Own Lease Transfer strategy in South Africa and Turkey.  We are also expecting a decision soon on a large government tender we qualified for in Ethiopia.”

About Lifequest & Biopipe

Lifequest offers both effluent treatment (ETP) and sewage treatment (STP) solutions. Biopipe, a wholly owned subsidiary, has developed a patented 100% sludge-free, chemical-free, odor-free, silent, easy to assemble and install, scalable, low cost, ecological and virtually maintenance-free onsite sewage wastewater treatment system. It treats both grey and black water.  The treated water exceeds EU and all local standards for discharge and can be reused for irrigation, flushing and cleaning.  Our Abrimix ETP solution is a highly efficient and cost-effective industrial wastewater treatment system that is vastly superior to Dissolved Air Floatation (DAF) systems.

www.lifequestcorp.com

https://www.biopipe.co/

Contact: info@biopipe.co

Biopipe Innovation, Bangladesh

Name: Ekram Zaman

Email: ezaman@biopipe.co

Phone: +880 1711991276

This press release contains forward-looking statements that reflect the Company's current beliefs, expectations or intentions regarding future events.  Any statements contained in this press release that are not statements of historical fact may be deemed forward-looking statements.  Words such as "will," "will be,"  "anticipate," "predict," “expect” "continue," "future," and similar expressions are intended to identify such forward-looking statements. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of the Company and are difficult to predict.  Examples of such risks and uncertainties include, but are not limited to: future revenues, expenditures, capital, the adequacy of the Company's current cash and working capital to fund present and planned operations, and the growth through joint ventures. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, can be found in our current Disclosure Statements at www.otcmarkets.com. The Company anticipates that subsequent events and developments may cause views and expectations to change. The Company assumes no obligation, and specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise.

FAQ

What recent orders did LQWC's subsidiary secure in Bangladesh?

LQWC's subsidiary, Biopipe Global Corp, secured orders for a 100m3/day plant for a government office and a 180m3/day plant for a hotel.

How has Covid-19 affected LQWC's operations?

Covid-19 has impacted commercial activity, delaying tenders and affecting overall business operations.

What are LQWC's future growth expectations in Bangladesh?

LQWC expects to secure more orders in the future and is optimistic about opportunities in the hospitality sector.