Form 8-K - Current report

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): January 5, 2024 (January 4, 2024)

BION ENVIRONMENTAL TECHNOLOGIES, INC.

Exact name of Registrant as Specified in its Charter

Colorado		000-19333		84-1176672
State or Other Jurisdiction of Incorporation		Commission File Number		IRS Employer Identification Number

9 East Park Court

Old Bethpage, New York 11804

Address of Principal Executive Offices, Including Zip Code

516-586-5643

Registrant's Telephone Number, Including Area Code

Not applicable

Former name or former address, if changed since last report

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered

Indicate by check mark whether the registrant is an emerging growth company as defined in in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 7.01 Regulation FD Disclosure.

On January 4, 2024, the Company issued a press release entitled “Bion’s Ammonia Recovery Technology Optimization Moves to Final Design” which press release has been placed on the Investors page of our website.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.		Description
99.1		Press Release titled “Bion’s Ammonia Recovery Technology Optimization Moves to Final Design” (dated January 4, 2024)
104		Cover Page Interactive Data File (the cover page XBRL tags are embedded within the inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	BION ENVIRONMENTAL TECHNOLOGIES, INC.


	By:	*/s/ Mark A. Smith*
Date: January 5, 2024	Name:	Mark A. Smith, President

Exhibit 99.1

Bion’s Ammonia Recovery Technology Optimization Moves to Final Design

January 4, 2024. Fair Oaks, Indiana. Bion Environmental Technologies, Inc. (OTC QB: BNET), a leader in advanced livestock waste treatment technology and premium sustainable beef, announced it has achieved key objectives in the optimization of its Ammonia Recovery System (ARS) at the company’s commercial-scale demonstration facility in Fair Oaks, Indiana. Bion will now begin the final design process for full-scale systems.

Bion’s ARS produces premium fertilizer products from the volatile ammonia in livestock waste. Final economic and energy efficiency models will be validated during the final design process, which should be completed in the first quarter of 2024. Bion will engage an engineering firm to prepare a third-party evaluation of the ARS. Operating results to date at Fair Oaks indicate ARS performance will exceed initial expectations for ammonia recovery and economics.

The ARS stabilizes the ammonia with CO2, also from the waste, producing precision low carbon and organic nitrogen fertilizers. Most of the nitrogen in livestock waste is lost as ammonia, both a waste of resources and a significant source of air and water pollution worldwide. Value-added nitrogen fertilizers will create new revenues and the economics needed to export excess nitrogen from impaired watersheds to where it is needed.

Several applications to OMRI (Organic Materials Review Institute) and CDFA (California Department of Food and Agriculture) are being prepared for listing and certification of new organic products. Bion received an OMRI-Listing in 2020 for its initial product. Bion will continue producing liquid and crystal fertilizers to support testing and life-cycle analysis, product trials, and ongoing organic initiatives.

Bion’s patents apply to any organic waste stream where anaerobic digestion (AD) is used to produce biogas: any livestock waste; food and food processing waste; municipal wastewater; and others. Recent trends in Michigan and California indicate an evolving regulatory focus on ammonia, nitrates, and animal waste AD. Bion’s ARS technology offers a timely solution to this problem.

Bill O’Neill, Bion’s CEO, said, “Our operational progress keeps us on track to commercialize both the technology and our sustainable beef production model. Though delayed by supply chain disruptions, the demonstration at Fair Oaks has confirmed the system’s state-of-the-art capabilities. The wide applicability of the ARS and its environmental benefits cannot be overstated, as livestock-related nutrient issues grow globally.”

_______________________________

About Bion: Bion’s patented third generation technology (Gen3Tech) minimizes environmental impacts of large-scale livestock production, increases resource and production efficiencies, and will deliver a premium product with a USDA-certified sustainable brand to the consumer. The platform prevents pollution to air, water, and soil, while recovering clean water, high-value organic and low-carbon precision fertilizer coproducts, and renewable energy. Bion is focused on developing state-of-the-art indoor cattle feeding operations that will produce truly sustainable premium beef. For more, see Bion’s website at https://bionenviro.com.

This material includes forward-looking statements based on management's current reasonable business expectations. In this document, the words ‘will’, ‘should’, ‘anticipate(s)’ and similar expressions identify certain forward-looking statements. It should be noted it is difficult to accurately predict the startup and optimization of a first-of-its-kind advanced waste treatment technology platform. The timelines discussed are estimates only. These statements are made in reliance on the Private Securities Litigation Reform Act, Section 27A of the Securities act of 1933, as amended. There are numerous risks and uncertainties that could result in actual results differing materially from expected outcomes.

Contact Information:

Craig Scott

SVP, Director of Communications

(406) 281-8178 direct

Cover	Jan. 04, 2024
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Jan. 04, 2024
Entity File Number	000-19333
Entity Registrant Name	BION ENVIRONMENTAL TECHNOLOGIES, INC.
Entity Central Index Key	0000875729
Entity Tax Identification Number	84-1176672
Entity Incorporation, State or Country Code	CO
Entity Address, Address Line One	9 East Park Court
Entity Address, City or Town	Old Bethpage
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	11804
City Area Code	516
Local Phone Number	586-5643
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false