Advanced livestock waste treatment solutions company Bion Environmental Technologies Inc (OTCMKTS:BNET) was in focus among investors yesterday and it could be gauged from the 8% gain that it delivered for the day.
Market Action
On Monday, BNET stock gained 7.61% to $0.99 with 11K shares, compared to its average volume of 10K shares. The stock moved within a range of $0.9500 – 0.9900 after opening trade at $0.99.
Bion Announces LOI with University of Nebraska-Lincoln to Collaborate on Integrated Beef Facility
The rally in the stock came about on Monday after the company announced that it had signed a letter of intent with regards to a collaboration with the University of Nebraska-Lincoln. The two are going to collaborate on the establishment of an integrated beef facility. The innovative new facility is going to be equipped with an anaerobic digester, state-of-the-art barns, and the 3G Tech System that belongs to Bion.
The 3G Tech System is going to be deployed for the purposes of providing waste treatment, upcycle nutrients, and also help with the generation of renewable energy. The project in question is going to be stationed at the Feedlot Innovation Center, which is not far from Mead, Nebraska.
The main aim of the collaboration between the two parties is to promote research in the field of feedlot as well as other production technologies related to animals. It now remains to be seen if the Bion stock continues to display momentum today.
Key Quote
“The Feedlot Innovation Center presents an incredible opportunity to pull together the best and the brightest minds working in animal agriculture today to create more resilient systems for food animal production,” said Mike Boehm, Harlan Vice Chancellor for IANR and University of Nebraska vice president for agriculture and natural resources. “We are thrilled with Bion’s plan to be part of this effort, and are excited to welcome other partners, as well.”
Traders Note
BNET stock is trading above the 20-Day and 50-Day Moving averages of $0.93 and $0.93. Moreover, the stock is trading is the neutral zone with RSI stands at 55.
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