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Biorem

Full company profile

uuid00078ga

Namestring
Biorem
Legal namestring
BIOREM Technologies Inc.
Websiteurl
biorem.biz
Company typeenum
Public
Founded yearint
1990
Operating statusenum
Operating
Ownership categoryenum
Headcount rangeband
11–50
akta.pro rankint
HeadquartersPuslinch, Canada
HQ citystring
Puslinch
HQ countrystring
Canada
HQ regionstring
North America
Markets served

Serves global market

Offices2 records

Each record includes

City, Country, Type, Description, Source

Keyword5 values
air emissions abatement, biological air treatment, odor control systems, VOC removal, biogas desulfurization
Industry3 codes
1Emission Control & Scrubbing Equipment (Scrubbers, Dust Collectors, Catalytic Systems)
CodeIMAHAEAKPrimaryYes
2Flue Gas Cleaning & Air Pollution Control for Biomass/WtE (FGD, SCR/SNCR, ESP/Baghouse, Dioxins/Mercury)
CodeEUAAALAHPrimaryNo
3Solvent/Sorbent/Catalyst Materials & Capture Equipment Manufacturing (Absorbers, Strippers, Heat Exchangers)
CodeEUAAALAJPrimaryNo
NAICS code1 code
  • Industrial and Commercial Fan and Blower and Air Purification Equipment Manufacturing333413
SIC code1 code
  • Industrial & Commercial Fans & Blowers & Air Purifing Equip3564
Product category
Air Emissions Control Systems
Social media profiles2 records
GTM motion1 record

Each record includes

Type, Description, Source

Revenue model3 records
1Air Emissions Control Systems (Equipment Sales)
TypeOne Time License
Description

Sale of engineered biofiltration, biotrickling filter, dry scrubber, and biogas sweetening systems. Systems range from modular units for small air flows (100 CFM) to large custom field-erected systems (500,000+ CFM). Revenue recognized upon project delivery and commissioning.

biorem.biz
2Technical Services and Maintenance
TypeProfessional Services
Description

System evaluation, air sampling, preventative maintenance, safety audits, system upgrades, and replacement/spare parts. Service level agreements and recurring maintenance contracts provide ongoing revenue.

biorem.biz
3Proprietary Media and Consumables
TypeTransaction Fee
Description

Sale of proprietary biofiltration media (BIOSORBENS, XLD, BIOPAK, BIOROLL, BIOBLOK) and replacement adsorbents (activated carbon, catalytic carbon, potassium permanganate media). Recurring revenue from media replacements.

biorem.biz
Marketing channels3 records

Each record includes

Title, Type, Stage, Description, Source

Distribution channels5 records

Each record includes

Title, Type, Scope, Target buyer, Description, Source

Cost components6 values
Supply Chain, Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure
Pricing details1 tier
1Custom engineered systems for project-specific requirements
ModelUnit PricingBilling cadenceMulti-year contract
Notes

Systems sized from 50 m³/hr to over 500,000 m³/hr. Pricing determined by air flow capacity, technology type, media selection, instrumentation requirements, and installation complexity. Modular BASYS units range from 100 CFM up to 6000 CFM per unit.

biorem.biz
GTM typeB2B
B2B
Offering typeHardware or Manufacturing
Hardware or Manufacturing
Brand1 of 9 records shown
1BASYS
Description

Modular biological air systems for small air flows ranging from 100 CFM up to 6000 CFM.

biorem.biz
+8 more records
Core offering1 text field

BIOREM engineers, designs, manufactures and distributes biological air emissions abatement systems, including biofilters, biotrickling filters, dry scrubbers and biogas sweetening systems, used by municipalities and industrial operators to remove odors, volatile organic compounds (VOCs), hydrogen sulfide (H2S) and hazardous air pollutants (HAPs). Systems range from 50 m³/hr to over 500,000 m³/hr and rely on proprietary engineered biofiltration media such as BIOSORBENS and XLD.

Differentiator
Functional benefit
Problem solved
Quantifiable outcome1 of 6 values shown
  • Operational savings in excess of 85% compared to liquid-based scavengers for biogas desulfurization
+5 more records
Product overview1 text field

BIOREM offers a comprehensive portfolio of air emissions abatement technologies and products. The core product line consists of engineered biological systems including BASYS modular biofilters (100-6000 CFM), BiofiltAIR large-scale concrete biofilters, MYTILUS biotrickling filters for H2S and water-soluble VOC removal, SYNERGY multi-stage combination systems (biotrickling + biofiltration + activated carbon), Biogas Sweetening systems for H2S removal from methane gas streams, Dry Scrubber adsorption systems, and Cannabis Odor Control solutions. These systems utilize proprietary engineered media products including BIOSORBENS (20-year life expectancy), XLD (next-generation for recalcitrant compounds), BIOPAK (high H2S loading), and BIOROLL/BIOBLOK structured packing. Systems range from 50 m3/hr to over 500,000 m3/hr and can treat odors, VOCs, and hazardous air pollutants through biological oxidation processes.

Product and service12 records
1BASYS Biofilter
CategoryBiofiltration Systems
2BiofiltAIR
CategoryBiofiltration Systems
3MYTILUS Biotrickling Filter
CategoryBiotrickling Filter Systems
4SYNERGY Multi-Stage System
CategoryMulti-Stage Treatment Systems
5Biogas Sweetening System
CategoryBiogas Treatment Systems
6Dry Scrubber Adsorption System
CategoryDry Scrubber Systems
7Cannabis Odor Control System
CategorySpecialty Odor Control Systems
8BIOSORBENS Engineered Biofiltration Media
CategoryProprietary Biofiltration Media
9XLD Engineered Media
CategoryProprietary Biofiltration Media
10BIOPAK Proprietary Media
CategoryProprietary Biofiltration Media
11BIOROLL and BIOBLOK Structured Packing
CategoryProprietary Biofiltration Media
12Technical Services and Maintenance
CategoryTechnical Services
Scale indicator10 records

Each record includes

Type, Value, Description, Source

Partnership1 partner
1Ontario Environment Industry Association (ONEIA)
Strategic tierMinorTypeOthers
Description

ONEIA is the business association representing the environment industry in Ontario, Canada. BIOREM maintains membership and participates in the association to connect with thousands of contacts including key people at environmental technology companies, law, investment and insurance firms, institutes, universities and governments.

biorem.biz
Recent move5 records

Each record includes

Date, Type, Title, Description, Source

Peers10 records
TypeDirect peer
Description

German manufacturer of industrial biofilters for odor and VOC control. Competes head-to-head with Biorem in European wastewater and industrial applications using biological fixed-film technology.

TypeEmerging player
Description

US-based provider of biological odor control and air emissions systems targeting wastewater and industrial applications. Comparable niche competitor with overlapping biotrickling/biofilter product offerings.

TypeBroad incumbent
Description

Global environmental services incumbent offering water, waste and air quality management including industrial odor and VOC solutions. Indirect competitor that can subsume Biorem-style projects in integrated municipal/industrial tenders.

TypeBroad incumbent
Description

Global water and treatment solutions company that acquired Evoqua, offering broader water and air emissions treatment. Competes with Biorem by bundling air emissions into larger municipal/industrial water and wastewater programs.

TypeDirect peer
Description

Netherlands-based specialist in biological gas cleaning and odor abatement using biotrickling and biofiltration technologies. Closely comparable to Biorem's MYTILUS, BASYS and biogas sweetening offerings in municipal and industrial markets.

6Ambio
TypeDirect peer
Description

Italian company specializing in biological air treatment and biofiltration for industrial emissions. Overlaps with Biorem's BASYS/MYTILUS offerings, particularly in Mediterranean industrial and waste-handling markets.

TypeDirect peer
Description

German provider of biological exhaust air treatment systems (biofilters, biotrickling filters) for industrial and municipal customers. Directly competes with Biorem's core biofiltration portfolio in European industrial odor and VOC applications.

TypeDirect peer
Description

US-based biological air pollution control solutions provider targeting industrial odor and VOC applications. Direct North American competitor to Biorem's BASYS, MYTILUS and SYNERGY product lines.

TypeDirect peer
Description

Dutch environmental equipment firm offering biological and chemical air treatment systems. Comparable to Biorem across wastewater, waste-to-energy and industrial odor/VOC abatement use cases.

TypeBroad incumbent
Description

International water and waste management company with air emissions control capabilities. Competes with Biorem on large integrated municipal and industrial contracts where air treatment is bundled with broader environmental services.

Market position
Strengths5 records

Each record includes

Headline, Details, Source

Weaknesses5 records

Each record includes

Headline, Details, Source

Competitive moat6 records

Each record includes

Type, Details

Key risks6 records

Each record includes

Headline, Details, Source

Key highlights7 records

Each record includes

Headline, Details, Source

Customer concentration

Classification, Details

Named customers5 records

Each record includes

Name, Industry, Type, Use case, Source, UUID

Segment5 records

Each record includes

Title, Type, Primary, Description, Pain point addressed, Use case, Source

Ideal customer profile5 records

Each record includes

Profile, Firmographic size, Sales motion, Sales cycle length, Buying structure, Purchase trigger, Buyer persona, Geography, Industry vertical, Primary use case, Description, Pain points, Evidence proof points, Target buyer

Technology focused
Yes
API detail
Has APIbool
No

Docs URL, Description

AI maturity
App detail

Has app

Feature7 records

Each record includes

Title, Differentiator, Description, Source

Core technology
Revenue estimate
Valuation estimate
Number of profiles
Profiles6 records

Each record includes

Name, Designation, Designation category, Overview, Profile commentary, Source

Subsidiaries1 record

Each record includes

Name, Acquired on, Relationship type, Type, Business focus

No data
Funding overview

Funding stage, Last funding date, Total funding USD

Funding rounds3 records

Each record includes

Round, Amount USD, Date, Pre money valuation, Total investors, Investors, News

Investors3 records

Each record includes

Name, Type, Date of entry, Rounds participated, Website

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Each record includes

Name, Acquisition type, Announced date, Completed date, Status, Website, News

Investment

Each record includes

Name, Round, Announced date, Lead investor, Website, News

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Biorem

Air Emissions Control Systemsbiorem.biz

Biorem firmographics

Firmographics
Name
Biorem
Legal name
BIOREM Technologies Inc.
Website
https://biorem.biz
Company type
Public
Founded year
1990
Operating status
Operating
Headcount range
11–50 employees
Ownership category
akta.pro rank

Biorem industry classification

Industry
Product category
Air Emissions Control Systems
NAICS
Industrial and Commercial Fan and Blower and Air Purification Equipment Manufacturing (333413)
SIC
Industrial & Commercial Fans & Blowers & Air Purifing Equip (3564)
akta.pro primary industry
Emission Control & Scrubbing Equipment (Scrubbers, Dust Collectors, Catalytic Systems) (IMAHAEAK)
akta.pro secondary industries
Flue Gas Cleaning & Air Pollution Control for Biomass/WtE (FGD, SCR/SNCR, ESP/Baghouse, Dioxins/Mercury) (EUAAALAH), Solvent/Sorbent/Catalyst Materials & Capture Equipment Manufacturing (Absorbers, Strippers, Heat Exchangers) (EUAAALAJ)

Keywords

  • Air emissions abatement
  • Biological air treatment
  • Odor control systems
  • VOC removal
  • Biogas desulfurization

Where Biorem is headquartered

Location

Headquarters

HQ city
Puslinch
HQ country
Canada
HQ region
North America

Offices2 records

Markets served

Biorem business model

Business model
GTM type
B2B
Offering type
Hardware or Manufacturing
Cost components
Supply Chain, Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

  1. Air Emissions Control Systems (Equipment Sales): Sale of engineered biofiltration, biotrickling filter, dry scrubber, and biogas sweetening systems. Systems range from modular units for small air flows (100 CFM) to large custom field-erected systems (500,000+ CFM). Revenue recognized upon project delivery and commissioning.
  2. Technical Services and Maintenance: System evaluation, air sampling, preventative maintenance, safety audits, system upgrades, and replacement/spare parts. Service level agreements and recurring maintenance contracts provide ongoing revenue.
  3. Proprietary Media and Consumables: Sale of proprietary biofiltration media (BIOSORBENS, XLD, BIOPAK, BIOROLL, BIOBLOK) and replacement adsorbents (activated carbon, catalytic carbon, potassium permanganate media). Recurring revenue from media replacements.

Pricing tiers

ModelBillingPrice
Unit PricingMulti-year contractCustom engineered systems for project-specific requirements

Go-to-market motion1 record

Distribution channels5 records

Marketing channels3 records

Biorem product offering

Product offering

Core offering

BIOREM engineers, designs, manufactures and distributes biological air emissions abatement systems, including biofilters, biotrickling filters, dry scrubbers and biogas sweetening systems, used by municipalities and industrial operators to remove odors, volatile organic compounds (VOCs), hydrogen sulfide (H2S) and hazardous air pollutants (HAPs). Systems range from 50 m³/hr to over 500,000 m³/hr and rely on proprietary engineered biofiltration media such as BIOSORBENS and XLD.

Product overview

BIOREM offers a comprehensive portfolio of air emissions abatement technologies and products. The core product line consists of engineered biological systems including BASYS modular biofilters (100-6000 CFM), BiofiltAIR large-scale concrete biofilters, MYTILUS biotrickling filters for H2S and water-soluble VOC removal, SYNERGY multi-stage combination systems (biotrickling + biofiltration + activated carbon), Biogas Sweetening systems for H2S removal from methane gas streams, Dry Scrubber adsorption systems, and Cannabis Odor Control solutions. These systems utilize proprietary engineered media products including BIOSORBENS (20-year life expectancy), XLD (next-generation for recalcitrant compounds), BIOPAK (high H2S loading), and BIOROLL/BIOBLOK structured packing. Systems range from 50 m3/hr to over 500,000 m3/hr and can treat odors, VOCs, and hazardous air pollutants through biological oxidation processes.

Differentiator

Problem solved

Functional benefit

Brands

  • BASYS: Modular biological air systems for small air flows ranging from 100 CFM up to 6000 CFM.
  • BiofiltAIR
  • MYTILUS
  • SYNERGY
  • Biosorbens
  • XLD
  • BIOPAK
  • BIOROLL
  • BIOBLOK

Products and services

  • BASYS Biofilter
  • BiofiltAIR
  • MYTILUS Biotrickling Filter
  • SYNERGY Multi-Stage System
  • Biogas Sweetening System
  • Dry Scrubber Adsorption System
  • Cannabis Odor Control System
  • BIOSORBENS Engineered Biofiltration Media
  • XLD Engineered Media
  • BIOPAK Proprietary Media
  • BIOROLL and BIOBLOK Structured Packing
  • Technical Services and Maintenance

Quantifiable outcome

  • Operational savings in excess of 85% compared to liquid-based scavengers for biogas desulfurization
  • +5 more outcomes

Companies that use Biorem

Customer profile

Named customers5 records

Segments5 records

Ideal customer profiles5 records

Biorem technology and API

Technology

Technology focussed Yes

API detail

Has API
No
API docs
API detail

Core technology

AI maturity

App detail

Feature7 records

Biorem partnerships and signals

Strategic signal

Partnerships

One partnership is on record.

  • Ontario Environment Industry Association (ONEIA)minorOthersONEIA is the business association representing the environment industry in Ontario, Canada. BIOREM maintains membership and participates in the association to connect with thousands of contacts including key people at environmental technology companies, law, investment and insurance firms, institutes, universities and governments.

Scale indicators10 records

Recent moves5 records

Biorem competitors and assessment

Company assessment

Direct peers

  • Bohn Biofilter: German manufacturer of industrial biofilters for odor and VOC control. Competes head-to-head with Biorem in European wastewater and industrial applications using biological fixed-film technology.
  • Pure Air Solutions: Netherlands-based specialist in biological gas cleaning and odor abatement using biotrickling and biofiltration technologies. Closely comparable to Biorem's MYTILUS, BASYS and biogas sweetening offerings in municipal and industrial markets.
  • Ambio: Italian company specializing in biological air treatment and biofiltration for industrial emissions. Overlaps with Biorem's BASYS/MYTILUS offerings, particularly in Mediterranean industrial and waste-handling markets.
  • Tholander Ablufttechnik: German provider of biological exhaust air treatment systems (biofilters, biotrickling filters) for industrial and municipal customers. Directly competes with Biorem's core biofiltration portfolio in European industrial odor and VOC applications.
  • BioAir Solutions: US-based biological air pollution control solutions provider targeting industrial odor and VOC applications. Direct North American competitor to Biorem's BASYS, MYTILUS and SYNERGY product lines.
  • DAS Environmental Solutions: Dutch environmental equipment firm offering biological and chemical air treatment systems. Comparable to Biorem across wastewater, waste-to-energy and industrial odor/VOC abatement use cases.

Emerging players

  • ECS Environmental Solutions: US-based provider of biological odor control and air emissions systems targeting wastewater and industrial applications. Comparable niche competitor with overlapping biotrickling/biofilter product offerings.

Broad incumbents

  • Veolia Environnement: Global environmental services incumbent offering water, waste and air quality management including industrial odor and VOC solutions. Indirect competitor that can subsume Biorem-style projects in integrated municipal/industrial tenders.
  • Xylem (Evoqua Water Technologies): Global water and treatment solutions company that acquired Evoqua, offering broader water and air emissions treatment. Competes with Biorem by bundling air emissions into larger municipal/industrial water and wastewater programs.
  • Suez Environmental: International water and waste management company with air emissions control capabilities. Competes with Biorem on large integrated municipal and industrial contracts where air treatment is bundled with broader environmental services.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

Biorem social profiles

Digital presence

Biorem financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Biorem leadership team

Management profile

Number of profiles

Profiles6 records

Biorem subsidiaries and ownership

Company hierarchy

Subsidiaries1 record

Biorem funding detail

Funding detail

Funding overview

Funding rounds3 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

Biorem M&A and investment

M&A and investment

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Biorem

What does Biorem do?

BIOREM engineers, designs, manufactures and distributes biological air emissions abatement systems, including biofilters, biotrickling filters, dry scrubbers and biogas sweetening systems, used by municipalities and industrial operators to remove odors, volatile organic compounds (VOCs), hydrogen sulfide (H2S) and hazardous air pollutants (HAPs). Systems range from 50 m³/hr to over 500,000 m³/hr and rely on proprietary engineered biofiltration media such as BIOSORBENS and XLD.

Is Biorem a public or private company?

Biorem is a public company. It is classified as public and is currently operating.

When was Biorem founded?

Biorem was founded in 1990. It employs 11 to 50 people.

Where is Biorem based?

Biorem is headquartered in Puslinch, Canada, in the North America region.

How does Biorem make money?

Three revenue lines are on record. Air Emissions Control Systems (Equipment Sales) is the primary driver. The others are technical Services and Maintenance and proprietary Media and Consumables.

Who are Biorem's main competitors?

Direct peers on record are Bohn Biofilter, Pure Air Solutions, Ambio, Tholander Ablufttechnik, BioAir Solutions and DAS Environmental Solutions. ECS Environmental Solutions is listed as an emerging player. Broad incumbents are Veolia Environnement, Xylem (Evoqua Water Technologies) and Suez Environmental.

Does Biorem have an API?

No public API is recorded for Biorem.

What industry is Biorem in?

Biorem's product category is Air Emissions Control Systems. Its primary akta.pro industry code is IMAHAEAK, Emission Control & Scrubbing Equipment (Scrubbers, Dust Collectors, Catalytic Systems), with a secondary code of EUAAALAH, Flue Gas Cleaning & Air Pollution Control for Biomass/WtE (FGD, SCR/SNCR, ESP/Baghouse, Dioxins/Mercury). Its NAICS code is 333413 and its SIC code is 3564.

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Live signals
MarketScreenerEarnings Flash (BRM.V) BIOREM Inc. Reports Q2 Revenue C$15.7MBiorem Inc., a Canada-based clean technology company, reported its Q2 revenue of C$15.7 million. The company's operations focus on designing, manufacturing, and distributing air emissions control systems such as biofilters and scrubbers.NewswireBIOREM Reports Second Quarter Earnings of $ 2 Million and $0.12 EPS - Revenue Increases 66% over Same Period in Prior YearBIOREM reported Q2 2026 revenue of $15.7 million, up 66% year-over-year, with net earnings of $2.7 million and EPS of $0.12. The company secured $14.8 million in new orders, maintaining a backlog near $75.5 million. Cash on hand was $7.2 million as of June 30, 2026.KalkineBiorem Inc. (TSXV:BRM) Gains Investor Attention as Environmental Technology Momentum Supports Positive Stock OutlookBiorem Inc. shares rose by 11.18% on July 28, 2026, driven by renewed investor interest in environmental technology companies and the company's focus on biological air purification solutions. The stock movement reflects broader market sentiment favoring sustainable infrastructure and industrial emissions management amid tightening environmental regulations. Analysts note that while the trend is constructive, investors should monitor execution risks, liquidity, and competitive dynamics within the small-cap sustainability sector.NewswireBIOREM Reports First Quarter Financial Results and Record $77 Million Order Backlog, Revenue Increase of 44%BIOREM reported Q1 2026 revenue of $6.8 million, a 44% increase from $4.7 million in the prior year, and a record $77 million order backlog. The company secured 18 new projects from Canada, the U.S., and the Middle East, with cash at $10 million and working capital at $14.5 million.NewswireBiorem Reports Record Revenues and Earnings before tax for 2025Biorem reported fiscal 2025 revenue of $42.4 million, up 13% year-over-year, and net earnings of $4.8 million, up 60%. Earnings per share rose 58% to $0.30, and order bookings increased 32% to $54.4 million.NewswireBiorem Reports Record Order Backlog, - $11.3 Million of Revenues in the Quarter and Quarterly EPS of $0.07BIOREM Inc. reported Q3 2025 revenues of $11.3 million, a 24% decline year-over-year from the record $14.9 million in Q3 2024, though up 19% sequentially from the previous quarter. The company booked $17 million in new orders during the quarter, building its order backlog to a record $71 million as of September 30, 2025, with management expecting continued growth as projects are delivered over the next 12 months. Net earnings for the quarter were $1.6 million ($0.07 per share), down from $2.2 million ($0.14 per share) in the year-ago period, while cash on hand increased to $8.4 million.PR NewswireBIOREM Reports Strong First Quarter Financial Results and Continued Growth in Order BacklogBIOREM Inc. reported first quarter 2024 results with revenue of $5.9 million, representing a 87% increase from Q1 2023 and a return to profitability with net earnings of $344,000 compared to a loss of $557,000 in the prior year period. The company booked $6.1 million in new orders during the quarter, building its order backlog to a historic $52 million, while also investing $363,000 in advanced manufacturing equipment to expand production capacity of its proprietary media. Management indicated that bidding activity remained strong and expects to report significant new bookings in coming months as the sales funnel continues to grow.Globalinvestorideasstock market news and investing podcasts for your next trading ideasThe article presents a directory of renewable energy and clean technology stocks from Global Investor Ideas, highlighting various public companies and investment funds focused on sustainable solutions. It details the business operations of firms such as Defense Metals Corp, SinglePoint Inc, and BIOREM Inc., alongside descriptions of numerous exchange-traded funds and indices tracking the green energy sector. The content serves as a resource for investors seeking to research entities involved in alternative energy, carbon capture, and environmental remediation.PR NewswireBiorem Reports Second Quarter Results and Record Order BacklogBiorem Inc. reported second quarter 2023 results with revenues of $4.3 million, a 32% decline from $6.3 million in Q2 2022, driven by delays in customer project construction schedules beyond the company's control. The company posted a net loss of $96,000 for the quarter and a year-to-date loss of $650,000, compared to net earnings of $64,000 in the first half of 2022. Despite the short-term setbacks, Biorem booked $16.8 million in new orders during the quarter, achieving a record order backlog of $51.5 million as of June 30, 2023, which the company expects to support stronger financial performance in the second half of the year.PR NewswireBiorem Reports First Quarter Financial ResultsBiorem Inc. reported a 28% year-over-year decline in first-quarter revenues to $3.2 million, driven by seasonal factors and a $200,000 project cost overrun. Despite the earnings loss, the company secured $3.6 million in new orders, bringing its total backlog to a historic high of $39.0 million. Management attributes booking delays to infrastructure project scheduling rather than competitive losses, while maintaining a cash position of $4.7 million.