VANCOUVER, B.C.– BioteQ Environmental Technologies, Inc. (TSX: BQE), a leader in the treatment of industrial waste water, reports its unaudited financial and operating results for the three and nine months ended September 30, 2011. All figures are in Canadian dollars and are in accordance with International Financial Reporting Standards (IFRS), unless otherwise noted.

Operating and financial results highlights for Q3 2011

• BioteQ has active water treatment operations in China and the US and seasonal operations in Canada; these operations generate recurring revenues. Recurring revenues for the quarter were generated by copper recovery at the plants in Dexing China and Bisbee Arizona, and fee-based water treatment operations at the Raglan site in Quebec. The Company is also involved in several engineering, design, construction and piloting projects at various stages of completion; these projects generate one-time revenues. One-time revenues were driven by engineering projects for new plants that are expected to enter into construction in 2012.
• Total revenues for the period were $2.9 million compared to $2.7 million in 2010. The increase in revenue over the prior year quarter is mainly attributable to higher copper recovery at the Dexing plant in China.
• Year to date, revenues totaled $5.7 million compared to $7.2 million in 2010. Revenues were higher in 2010 largely because the company recorded a plant sale that generated one-time revenues.
• Operating income for the quarter was $1.6 million compared to $1.8 million in 2010. Year to date, operating income was $2.4 million compared to $3.4 million in 2010.
• The net loss for the quarter was $1.1 million, compared to net income of $2 million in 2010. The comprehensive loss for the quarter was $560,000 compared to income of $1.1 million in 2010. This includes one-time CEO transition and recruitment costs of $700,000. Year to date, the comprehensive loss was $2.7 million compared to income of $201,000 in 2010.
• Cash flow used in operations, before changes in non-cash working capital, was $540,000. Excluding CEO transition and recruiting costs, operating activities generated positive cash flow of $160,000. Year to date, cash flow used in operations was $2.3 million compared to cash flow generated by operations of $1 million in 2010.
• Year to date revenue and cash flow figures are in line with the Company’s 2011 financial guidance of $6.5 to $7.5 million in revenue and $3 to $3.5 million in operating cash use, before changes in non-cash working capital.
• BioteQ ended the period with $10.5 million in working capital which included $10.3 million in cash and short-term investments. At December 31, 2010, those balances were $13.8 million and $12.6 million respectively. The Company has no debt.
• During the quarter, the Company announced the appointment of Jonathan Wilkinson as the new Chief Executive Officer and director.
• During the quarter, BioteQ resumed operations at its Bisbee plant in Arizona, signed an agreement with a European engineering firm for a SART project, signed an agreement with Minera Mexico to review potential water treatment projects, and continued commissioning of a new 800 cubic meter per hour ion exchange plant for recovery of cobalt and nickel from low-grade solution at the Dexing site in China.
• Subsequent to quarter end, BioteQ announced that it had signed a new contract valued at $1 million, to be executed over the balance of 2011 and the first quarter of 2012.
• BioteQ is continuing its litigation efforts for the plants in Mexico and Australia to recover value from these assets. The Company presently has no definitive timeline with respect to when these matters will be resolved.
• BioteQ has an expanding pipeline of sales opportunities that are progressing toward commercial contacts. The projects, which are subject to customer approvals, are expected to contribute one-time projects revenues and recurring fee-based revenues over the next three years.

Jonathan Wilkinson, BioteQ’s Chief Executive Officer, stated, “We are pleased with the quarterly operating and financial results for BioteQ. The company has seen good commercial progress during the quarter, and we are confident that we will meet our current financial guidance for the year. We are continuing to aggressively pursue new growth opportunities and believe that the company is well positioned to generate strong results in 2012.”

BioteQ’s financial statements and the Company’s MD&A have been filed on SEDAR, www.sedar.com, and will be available on the BioteQ website at www.bqewater.com.

A conference call to discuss the financial results is scheduled for Tuesday November 15^th at 11:00 am Eastern. Participants can access the call by dialing 416-340-2217, or 1-866-696-5910, reference number 3277435. A playback of the call will be available until November 29^th by dialing 905-694-9451, reference number 2127682. A recording will be available on the BioteQ website within two days of the call.

BioteQ Corporate Profile
BioteQ creates custom water treatment solutions to recover dissolved metals and remove sulphate from water impacted by mining, energy and industrial activities. The company’s clean technologies convert wastewater into a useful resource while delivering lower life cycle costs for water treatment. BioteQ has designed and commissioned 14 plants at sites in Canada, the US, Mexico, Australia and China, with additional projects in development.

BioteQ’s sustainable water treatment solutions have been recognized with national and international awards for innovation and sustainability. BioteQ is headquartered in Vancouver, Canada, and trades on the TSX under the symbol BQE. For additional information, please visit our website at www.bqewater.com.

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The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Except for statements of historical fact relating to the Company, certain information contained herein constitutes “forward-looking statements” within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements are frequently characterized by words such as “plan,” “expect,” “project,” “intend,” “believe,” “anticipate” and other similar words, or statements that certain events or conditions “might” or “will” occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the development, construction and operation of water treatment plants, variations in water quality, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and other factors described in the section entitled “Risks” in the Company’s Annual Report for the Year Ended December 31, 2010. Circumstances or management’s estimates or opinions could change. The reader is cautioned not to place undue reliance on forward-looking statements.