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 17, 2024 (January 16, 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)

☐

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 16, 2024, the Company issued a press release entitled “Bion’s New Patent Expands Coverage to Industrial and Municipal Waste Streams” 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 New Patent Expands Coverage to Industrial and Municipal Waste Streams” (dated January 16, 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 17, 2024	Name:	Mark A. Smith, President

Exhibit 99.1

Bion’s New Patent Expands Coverage to Industrial and Municipal Waste Streams

January 16, 2024. New York. New York. Bion Environmental Technologies, Inc. (OTC QB: BNET), a leader in advanced livestock waste treatment technology and premium sustainable beef, was issued a new patent that broadens its Ammonia Recovery System (ARS) claims to include industrial and municipal wastewater streams.

Bion’s ARS was developed to recover the volatile ammonia in livestock waste streams, with a focus on the discharge from an anaerobic digester (AD), where biogas is produced. Bion just optimized the ARS at its Fair Oaks facility for the final design process for full-scale animal waste systems. With this fifth patent, Bion’s IP now covers organic waste streams from industrial and municipal sources, as well.

According to the American Biogas Council, the U.S. has more than 2,400 AD sites producing biogas today, with a development potential for 15,000 new sites. Bion intends to establish strategic partnerships to market the ARS as a stand-alone AD nitrogen control solution in two sectors:

INDUSTRIAL AND MUNICIPAL WASTEWATER AD is now used at 1,269 water resource recovery facilities in the U.S., with another 102 stand-alone systems that digest food waste. The Council estimates an additional 8,600 sites with development potential. Germany, by comparison, has almost 10,000 operating AD sites.

In the U.S., wastewater and AD digestate from industrial and municipal sources is already regulated for ammonia and nitrates; EPA recently proposed tougher standards for slaughter facilities. Bion believes ARS ammonia treatment costs will be competitive in these markets and that its unique premium fertilizer byproducts will create an advantage, especially with waste streams that are still considered ‘organic’, like slaughter and food waste.

ANIMAL WASTE There are 473 animal waste digesters operating in the U.S. today, most on dairy operations. The Council and USDA’s AgSTAR program estimate more than 8,000 additional sites with development potential. The ARS was designed specifically for this purpose: control ammonia from livestock waste and produce the highest value byproducts with it. Bion has already received an OMRI-listing (Organic Material Review Institute) for its initial fertilizer product and is preparing applications for several more.

Digestate from animal waste AD has enjoyed the same reduced regulatory requirements as land applying raw manure. Recent trends in Michigan and California indicate they will treat animal waste digestate as any industrial source, subject to groundwater permitting requirements. Bion believes its proven technology and value-added fertilizers will give it a significant competitive advantage in this evolving market.

Bill O’Neill, Bion’s CEO, said, “The timing of this patent couldn’t be better – it underscores the broad applications of our ammonia recovery technology. We’ve already seen results at Fair Oaks that demonstrate we can configure the ARS for the economics of industrial waste streams. It’s an opportunity that could both jumpstart and shorten our drive to commercialization and give us a stronger platform to launch our sustainable beef initiatives.”

About the ARS Bion’s core technology captures ammonia in livestock waste (and other organic waste streams), preventing its loss to the environment where it contributes to algae blooms and groundwater pollution. It also reverses the economic loss of nitrogen, stabilizing the ammonia with the CO2 in the waste stream to produce premium organic, Water- and Climate-Smart, nitrogen fertilizers. The ARS is now protected by five U.S. patents and is patent pending in EU, Mexico, and Canada.

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, 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 ‘intends’, ‘believe(s)’, ‘will’, ‘could’ 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. 16, 2024
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Jan. 16, 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