8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C.  20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

November 13, 2012

Date of Report (date of earliest event reported)

BION ENVIRONMENTAL TECHNOLOGIES, INC.

Exact name of Registrant as Specified in its Charter

Colorado	000-19333	84-1176672
State or Other Jurisdiction of Incorporation	Commission File Number	IRS Employer Identification Number

Box 566/1774 Summitview Way

Crestone, Colorado 81131

Address of Principal Executive Offices, Including Zip Code

(212) 758-6622

Registrant's Telephone Number, Including Area Code

Not applicable

Former name or former address, if changed since last report

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[ ]

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ]

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[ ]

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ]

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

ITEM 7.01   REGULATION FD DISCLOSURE.

On November 13, 2012, the Company issued a press release (attached hereto as Exhibit 99.1) entitled ‘Bion Issues Report on Local Environmental Benefits Resulting from Onsite Livestock Waste Treatment at Kreider Farms’ and has placed the press release on its website: www.biontech.com.   

On November 15, 2012, the Company issued a press release (attached hereto as Exhibit 99.2) entitled ‘Bion to be Panelist on US EPA’s Inaugural Water Quality Trading Workshop and Webinar’ and has placed the press release on its website: www.biontech.com.

ITEM 9.01  FINANCIAL STATEMENTS AND EXHIBITS.

(a)

Financial Statements of Businesses Acquired

Not Applicable.

(b)

Pro Forma Financial Information

Not Applicable.

(c)

Shell Company Transactions

Not Applicable.

(d)

Exhibits:

Exhibit Number	Description
99.1	Press release (dated November 13, 2012) (filed electronically herewith) entitled ‘Bion Issues Report on Local Environmental Benefits Resulting from Onsite Livestock Waste Treatment at Kreider Farms’
99.2	Press release (dated November 15, 2012) (filed electronically herewith) entitled ‘Bion to be Panelist on US EPA’s Inaugural Water Quality Trading Workshop and Webinar’

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Bion Environmental Technologies, Inc.

Date:  November 16, 2012

By: /s/ Mark A. Smith

       Mark A. Smith, President

EX-99

EXHIBIT 99.1

Bion Issues Report on Local Environmental Benefits

Resulting from Onsite Livestock Waste Treatment at Kreider Farms

November 13, 2012. New York, New York. Bion Environmental Technologies, Inc. (OTC QB/BB: BNET) today issued two reports on the local environmental benefits that result from its Kreider Farms Project and potential future livestock waste treatment projects. Bion recently commissioned a study that was conducted by Barry Evans, PhD, Senior Research Associate, Penn State Institutes of Energy and the Environment, to assess the local watershed benefits associated with nutrient reductions from onsite treatment of livestock waste. The full studies are available online at:

biontech.com/technology/docs/TMDL_Load_Comparisons_evans2d__4_.pdf

biontech.com/technology/docs/Evans_GroundwaterN.pdf)

To date, the environmental and economic value of Bion’s livestock waste projects has been evaluated only on the basis of the significantly lower-cost verified Chesapeake Bay nitrogen reductions they can produce. However, the ancillary (essentially ‘free’) environmental and economic benefits that accompany this onsite livestock waste treatment, and those impacts on the local communities where they are located, may provide even greater economic benefits and value to Pennsylvania’s tax- and ratepayers than the already substantial benefits of low-cost nitrogen credits.

Dr Evans’ Total Maximum Daily Load (TMDL – the limit of a pollutant a water body can receive and still meet water quality standards) study evaluated Bion’s Kreider Farms dairy and poultry projects and demonstrated verified reductions of nutrients that reach and affect Pennsylvania’s local fresh water sources, including its aquifers, reservoirs and lakes, and rivers and streams. According to the study, Bion’s projects will result in the annual reduction of millions of pounds of nitrogen and phosphorus loading to these local-area fresh water resources, leading to a substantial decrease in nitrates that reach local aquifers. Excess nitrates in drinking water can create serious health concerns in both humans and animals and would be very expensive to treat if future levels exceed safe limits.

Dr. Evans’ study of the impact of Bion’s projects on the local phosphorous-impaired watersheds (Chickies Creek, Quittapahilla Creek, and Donegal Creek) where Kreider’s operations are located, estimates that Bion’s projects will meet 44% of the Clean Water Act TMDL-mandated annual phosphorous reductions for Chickies Creek and exceed 100% of the annual phosphorous reduction mandates for Quittapahilla and Donegal Creek watersheds. A Clean Water Act TMDL is a TMDL that was established before the current Chesapeake Bay mandates. Excess phosphorus stimulates the rapid growth of plants and algae in fresh water, clogging waterways and reducing fishery and aesthetic values.

In June 2012, Pennsylvania’s budget included a Fiscal Code Amendment to fund a study to be completed by the end of 2012. The study will determine whether a competitive procurement program for verified nitrogen reductions from all point and non-point sources would significantly reduce the compliance cost of Chesapeake Bay nitrogen reduction mandates. The study will also determine what other environmental and health benefits would accrue to local environments (and whose value should be considered) as a result of projects that generate low-cost verified Chesapeake Bay nutrient credits. Lastly, the study will outline potential sources of funding to support such a program.

The results to date from Pennsylvania’s nutrient credit trading program, and the long-term verified nitrogen credits available from Bion and others have demonstrated the significant and immediate cost savings available through nutrient trading. Bion’s projects will reduce the cost to tax and rate payers for Chesapeake Bay nitrogen credits by 50 to 80% compared to existing average municipal waste and storm water projects. Dr. Evans’ report now clearly quantifies the sizable and valuable ancillary local environmental benefits that can result from these types of competitively-procured projects.

The remaining issue to be determined will be how to reallocate the existing financial resources that are now being spent on high-cost/low-value solutions so that Pennsylvania and other states can take advantage of this opportunity. While the lower cost of compliance with the Chesapeake Bay mandate would be significant, the long-term value for Pennsylvania’s citizens – improved quality of life and public health, economic development, a cleaner and more productive fresh water recreational industry, and the long-term cost avoidance of future fresh water drinking requirements – will far exceed the actual cost of meeting the Chesapeake Bay mandate.

______________________________________________________

Bion Environmental Technologies has provided environmental treatment solutions to the agriculture and livestock industry since 1990. Bion’s patented next-generation technology provides a unique comprehensive treatment of livestock waste that achieves substantial reductions in nitrogen and phosphorus, ammonia, greenhouse and other gases, as well as pathogens, hormones, herbicides and pesticides. Bion’s process simultaneously recovers cellulosic biomass from the waste stream that can be used to produce renewable energy.

Bion installed its next-generation dairy waste treatment system at Kreider Dairy Farms, a 1,200 cow dairy facility in Lancaster County, Pennsylvania in July 2011. The system provides verified reductions of nitrogen and phosphorus, as well as substantial reductions of ammonia and greenhouse gas emissions, odors, pathogens and other pollutants in the waste stream that impact both the Chesapeake Bay and local waters. For more information, see Bion’s websites, www.biontech.com and www.bionpa.com.

This material includes forward-looking statements based on management's current reasonable business expectations. In this document, the words 'expect', 'will', 'proposed' and similar expressions identify certain forward-looking statements. These statements are made in reliance on the Private Securities Litigation Reform Act, Section 27A of the Securities act of 1933, as amended. There are numerous risks and uncertainties that could result in actual results differing materially from expected outcomes.

Contact information:

Craig Scott

Vice President-Capital Markets

303-843-6191 direct

EX-99

EXHIBIT 99.2

Bion to be Panelist on US EPA’s Inaugural

Water Quality Trading Workshop and Webinar

November 14, 2012. New York, New York. Bion Environmental Technologies, Inc. (OTC QB/BB: BNET) today announced it has been invited to be a panelist on the upcoming Water Quality Trading Workshop and Webinar, v1.0, hosted by the US EPA. The national webinar will be conducted from Washington, DC, on Wednesday, November 28th, from 11:00 AM to 5:00 PM Eastern Time.

The webinar is to provide a forum for stakeholders to discuss the status and next steps in advancing environmental markets as a tool to achieve water quality improvement under the Clean Water Act. The workshop is to help participants better understand the needs and perspectives of potential ‘buyers’ and ‘sellers’ of water quality improvements (credits), and the stakeholders they interact with, and discuss ways to promote and enhance trading and market opportunities. The webinar is an indicator of the US EPA’s commitment to reducing the impacts of excess nutrients, water quality trading to help reach those goals, and EPA’s efforts to provide states the tools they need to achieve their water quality objectives.

Other speakers at the webinar will include Nancy Stoner, Assistant Administrator, US EPA Office of Water; Ann Mills, USDA Deputy Undersecretary for Natural Resources and Environment; the Commonwealth of Virginia; the National Association of Clean Water Agencies; the Iowa Soybean Association; the Fresh Water Trust and others. The intended audience of the webinar is program managers such as states, other government organizations, and NGOs, and industry representatives for credit ‘buyers’ and ‘sellers’.

______________________________________________________

Bion Environmental Technologies has provided environmental treatment solutions to the agriculture and livestock industry since 1990. Bion’s patented next-generation technology provides a unique comprehensive treatment of livestock waste that achieves substantial reductions in nitrogen and phosphorus, ammonia, greenhouse and other gases, as well as pathogens, hormones, herbicides and pesticides. Bion’s process simultaneously recovers cellulosic biomass from the waste stream that can be used to produce renewable energy.

Bion installed its next-generation dairy waste treatment system on July 2011at Kreider Dairy Farms, a 1,200 cow dairy facility in Lancaster County, Pennsylvania. In August 2012 the system was issued a full and final water quality permit and its nitrogen reductions were verified by the PA Department of Environmental Protection. Verified nitrogen reductions can be used to offset at substantially lower cost the requirements to reduce nitrogen imposed on municipal waste water treatment plants, power plants and other point sources in the Chesapeake Bay and other watersheds. For more information, see Bion’s websites, www.biontech.com and www.bionpa.com.

This material includes forward-looking statements based on management's current reasonable business expectations. In this document, the words 'expect', 'will', 'proposed' and similar expressions identify certain forward-looking statements. These statements are made in reliance on the Private Securities Litigation Reform Act, Section 27A of the Securities act of 1933, as amended. There are numerous risks and uncertainties that could result in actual results differing materially from expected outcomes.

Contact information:

Craig Scott

Vice President-Capital Markets

303-843-6191 direct