BION.L Regulatory News (BION)

13 April 2021

BiON plc

("BiON" or "the Company")

Trading Update

BiON (AIM: BION), an environmental engineering, wastewater treatment and renewable energy solutions company, provides an update on trading for the year ended 31 December 2020 ahead of announcing its annual audited results in June 2021.

As noted in the Company's interim results announcement, during the first half of 2020, BiON was active in sourcing and securing engineering, procurement, construction and commissioning ("EPCC") contracts and this momentum increased through the second half of the year. The Company also succeeded in recommencing power sales at its Malpom biogas power plant in December 2020. As a result of this progress, the Company expects to report revenue for full year 2020 of at least RM100m, representing growth of more than 310% over 2019. As noted above, these results remain subject to audit.

In particular, the growth has been driven by the expansion of the Company's EPCC activities in Indonesia in the second half of the year, where BiON completed a number of projects under eco-infrastructure initiatives. BiON continued the upgrading works at its Kahang (2MW) and Malpom (2MW) biogas power plants as well as progressing its Seberang Perak (2MW) and Nasaruddin (1MW) plants that it acquired in the second half of the year. This enabled Malpom to recommence supplying electricity (at an initial reduced capacity) to Tenaga Nasional Berhad ("TNB"), Malaysia's largest integrated electricity company, at the end of the year.

Post period, at the end of January 2021, BiON commenced commercial operations at Seberang Perak. This followed the receipt of the certificate of initial operation date ("IOD") from the regulatory authorities, which enables the Company to sell electricity to TNB at a discount tariff rate. The Company expects to receive the certificate of commercial operation date, which will allow it to receive the full Feed-in-Tariff rate, as well as the IOD for Nasaruddin in the coming weeks, subject to government restrictions on travel related to the COVID-19 pandemic. BiON has continued to pursue EPCC contracts in Malaysia and Indonesia and to progress the upgrading works at Kahang and Malpom that will enable full operations to resume. In addition, the Company is engaged in seeking to convert and expand its pipeline of renewable energy and waste-to-value projects in line with its stated strategy.

The Company will provide further information at the time of its annual results announcement.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018.

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