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Lifequest Subsidiary, Biopipe, Receives Its First Commercial Order in Ethiopia for a 100m3/day Sewage Treatment Plant Expected to be Installed at a Prestigious Resort

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RIDGEFIELD PARK, NEW JERSEY, Aug. 17, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- LIFEQUEST WORLD CORP (LQWC) subsidiary, Biopipe Global has developed the world’s only highly scalable onsite sludge and chemical free sewage wastewater treatment technology. This is Company’s first commercial purchase order for Biopipe sewage treatment plant from Ethiopia. The plant will have an installed capacity of 100m3 (26,500 gallons)/day and expected to meet all local discharge and reuse standards. The Company has issued the proforma invoice to the general contractor and the plant will take approximately 45 days to procure and deliver upon receipt of an acceptable letter of credit on a Free on Board (FOB) basis.

Tesfaye Tadli, Country Head for Biopipe, said, “We are thrilled to secure our first commercial order in Ethiopia. This 100m3/day plant will be installed at a prestigious resort in Gorgara, which is close to ancient city Gondar and Lake Tana and is one of three ‘Dine for Ethiopia’ tourist attraction development projects launched by Prime Minister Abiy Ahmed. More importantly Biopipe was selected ahead of a German STP system. We are also close to installing the demo plant for Ministry of Water & Irrigation and once commissioned, it will help us to accelerate the conversion of current sales opportunities in Ethiopia. We expect the letter of credit (LC) in favor of Biopipe Global to be opened within the next 30 days. Covid has certainly set us back by year and half but we are very confident of delivering meaningful sales in Ethiopia.”

About Lifequest & Biopipe

Lifequest offers effluent treatment plants (ETP), sewage treatment plants (STP), fat oil and grease (FOG) separator and hybrid media for water polishing. Biopipe, a wholly owned subsidiary, has developed a patented 100% sludge-free, chemical-free, odor-free, silent, easy to assemble and install, scalable, low cost, ecological and low maintenance-free onsite sewage wastewater treatment system. The Abrimix ETP solution available through our joint venture is a highly efficient and cost-effective industrial wastewater treatment system that is vastly superior to Dissolved Air Floatation (DAF) and other onsite industrial wastewater treatment systems.

www.lifequestcorp.com

https://www.biopipe.co/

Contact: tesfaye@biopipe.co

+251 91 152 3033

This press release contains forward-looking statements that reflect the Company's current beliefs, expectations or intentions regarding future events. Any statements contained in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as "will," "will be," "anticipate," "predict," “expect” "continue," "future," and similar expressions are intended to identify such forward-looking statements. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of the Company and are difficult to predict. Examples of such risks and uncertainties include, but are not limited to: political unrest in countries we operate in, Covid-19 pandemic related disruptions, shipping constraints, expatriation of invested capital, defaults, future revenues, expenditures, capital, the adequacy of the Company's current cash and working capital to fund present and planned operations, investments and the growth through joint ventures. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, can be found in our current Disclosure Statements at www.otcmarkets.com. The Company anticipates that subsequent events and developments may cause views and expectations to change. The Company assumes no obligation, and specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise.