Investors

Chairmans Annual Report – 2018

A warm welcome is extended to all our shareholders attending our tenth Annual meeting.  Upfront I would like to thank our shareholders, and on your behalf particularly our Directors for their counsel and support during 2017 in what proved to be a valuable foundation year for Bio-Sep.

Our focus has been upon enhancing the value of our prime assets: our Patents and our Pilot Plant, thereby to strengthen our foundations as we continue to explore and implement key steps toward our ongoing quest to pursue a route to achieve commercial application for our technology.

During 2017 further patents have been granted to add to the global reach of our portfolio, and we have engaged an additional legal adviser to assist in key markets.

Turning to our Pilot Plant we have completed remedial action to meet health and safety standards, and commissioning to meet industrial operating standards.  This has required considerable work from all those involved ably lead by Ken Day, supported by our Consultants, to whom the Company extends a very great thank you.  This achievement has enabled a trial programme to commence to gain additional data and prepare for show case discussions with potential industrial partners.

Your Company will gather data from the pilot plant, and benefit from the engagement of MTC of Coventry to review its operation in a feasibility study to define necessary steps to optimize and upscale our pilot plant efficiency to a commercial economic bio-refinery capability and advise upon a preferred route into the global market.  To action this will demand additional personnel resources.  In 2017 we completed the engagement of 4 Consultants with complementary technical skills to those of your Directors.  It is expected during 2018 to appoint a fulltime technical team leader to enhance our ability to deliver upon the recommendations arising from the MTC report.

In the last quarter of 2017 we concluded an important strategic review to map the direction of our future business plans and actions.  Bio-Sep is now entering an exciting and demanding period of investment. We have completed a successful equity issue from amongst existing shareholders to strengthen our financial position.  It is now planned to offer £300K equity to strategic investors.

We are entering an exciting juncture that will demand staying power and a high degree of professionalism, but risks of execution remain.

I thank all our shareholders, including our Directors, for their valuable contribution as a sounding board, and encourage ongoing participation and feedback in recognition ‘that we are in this all together’.

I particularly extend thanks to my fellow Directors for gifting their time and providing counsel upon a wide range of technical business initiatives to skillfully guide your company to deliver upon achievements for shareholders benefit.

 

Malcolm G Gates   Chairman                                                                          4 April 2018