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Wednesday January 6, 11:41 am Eastern Time
Company Press Release
Bionet Technologies Announces Z Smith Reynolds Grant to Greengold International
HILTON HEAD, S.C.--(BUSINESS WIRE)--Jan. 6, 1999--BioNet Technologies, Inc. (OTC BB: BNTK - news) announced today that its subsidiary, GreenGold International, has been awarded a $35,000 grant from the Z Smith Reynolds Foundation to facilitate the installation of its first duckweed production unit in North Carolina.
GreenGold International owns patents relating to the commercial production of duckweed, a water plant which produces protein superior to soy beans at rates 10 times faster than soy beans and which has been used globally for over 15 years as a viable alternative for treating nitrogen rich waste water. Greengold's business plan calls for the integration of its duckweed production units into the waste disposal systems of hog farms, replacing the traditional method of spraying the waste on open fields. This allows these farms to effectively recycle the water used in waste removal and eliminates the water and air pollution problems currently associated with the hog industry. Duckweed produced through this process will be harvested and sold as feed to the hog, cattle and chicken industries.
Commenting on the grant, Alan Schafler, President of BioNet Technologies, said, ''We are very pleased that the Z Smith Reynolds Foundation has recognized, as we have, the potential this technology represents. This grant represents just a small reflection of the excitement and enthusiasm which GreenGold and the production units have generated.''
BioNet Technologies, Inc. is a bio-technology company headquartered in Jupiter, Florida. The company is focused on growth through the acquisition of strategically relevant, emerging growth biotech companies and products and through internal growth of its business units. For more information contact Timothy Miles at 843-686-5590
Certain statements in this press release constitute ''forward-looking statements'' within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks and uncertainties, including the ability of the Company and its subsidiaries to successfully market their products to their target markets, and other factors which may cause the actual results, performance or achievements of the company, or industry results, to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements
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Contact:
BioNet Technologies, Hilton Head
Timothy Miles, 843/686-5590 |
