By: Tomas Ronolski - AllPennyStocks.com News

Friday, November 6, 2015

According to global investment bank Goldman Sachs, the clean energy industry is expected to be an important growth market. Goldman Sachs notes in a report that the success of the clean tech and renewables sector requires thoughtful collaboration among entrepreneurs, investors, strategic partners, government and non-governmental organizations.

Goldman Sachs also adds that several clean tech companies are looking for strategic partnerships. This is because of the volatility in the global capital markets and investors’ focus on reducing their risks. Goldman Sachs adds that strategic partners can offer not only the much needed growth capital but also greater credibility and the prospect of future off-take business and access to broader markets.

Clean tech companies are also getting attention from venture capital firms. According to Goldman Sachs, several leading venture capital firms are looking at mature business models that have been able to scale technologies to critical mass and have a more visible path to cash flow generation.

BIOREM Inc. (TSX-Venture:BRM) is a Canada-based clean technology company. BRM is engaged in the design, manufacture and distribution of a comprehensive line of high-efficiency air emissions control systems use to eliminate odors, volatile organic compounds (VOCs) and hazardous air pollutants (HAPs).

Thursday morning, BRM reported its financial results for the third quarter of 2015. For the quarter ended September 30, 2015, BRM reported revenue of $4.2 million, representing an increase of 83% over the same period in the previous year. In the first nine months of 2015, the company has had revenue of $13.6 million, representing an increase of 102% over the same period in the previous year. The increase in revenue came from Canada, China and other international markets where the company operates.

BIOREM’s gross profit for the quarter was $1.5 million. EBITDA for the quarter was $468,000. The company reported net earnings of $318,000 for the third quarter of 2015, compared to a net loss of $1.653 million reported for the same period in the previous year. On a per share basis, BRM’s net earnings for the quarter were $0.02 per basic share and $0.01 per diluted share.

Derek S. Webb, President and CEO of BIOREM, said that the company is pleased to have had a solid quarter in terms of bookings and profitability. Webb said that backlog has increased to $17.6 million which sets the foundation for future growth. He added that new ideas and produces are expected to begin to contribute to growth in 2016.

Although the prospects for BRM were positive from start to finish, the stock price is reacting very differently with Company shares coming down about 50% from their September highs. Up until recently, the stock had been in an uptrend, so this may just be an overdone correction as shares continue their slide in Friday’s trading.

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