DORAL, FL--(Marketwire - Jan 10, 2013) - BioNitrogen Corporation (PINKSHEETS: BION), a cleantech company that utilizes proprietary technology to build environmentally-friendly plants that convert biomass into urea fertilizer, announced today that Bryan Kornegay (40) will assume the position of President, effective immediately.
Mr. Kornegay, who is CFO, will also retain his current position. He succeeds Carlos Contreras, who will retain his position as CEO of the company.
Commenting on the news, Carlos A. Contreras, CEO of BioNitrogen, said, "Bryan has demonstrated exceptional leadership capabilities during his time at BioNitrogen and I am confident he will bring his strong executive management skills to his expanded role as President. This position will enable Bryan to continue his efforts to lead the company's expansion at this critical period of its growth and focus on fulfilling BioNitrogen's business strategy of plant construction and plant expansion that will result in a profitable enterprise."
Mr. Kornegay joined BioNitrogen in early 2012 as CFO and has more than 17 years of accounting, finance and private equity experience. He is a founder of B Group, a private equity and advisory group that focuses on food, energy, mining and infrastructure in the Americas. He has served on the boards of public and private companies. His work experience includes holding the position of CFO and director for an international river transportation company, an international exploration and production company and an international oilfield services company. Mr. Kornegay worked at the private equity firm Hicks, Muse, Tate & Furst until 2001. Mr. Kornegay performed transaction services and audit work for PricewaterhouseCoopers and Arthur Andersen as a Certified Public Accountant. He earned a B.B.A. in Accounting from Southern Methodist University and an M.B.A. from Columbia Business School.
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About BioNitrogen Corporation
BioNitrogen Corp. (PINKSHEETS: BION) is a cleantech company that utilizes proprietary technology to build environmentally-friendly plants that convert biomass into urea fertilizer. Our mission is to provide safe, cost effective, green solutions that are economically beneficial in locations where biomass is produced and urea is consumed. Additional information can be found at www.BioNitrogen.com.
Safe Harbor Statement
The forward-looking statements contained in this document involve risks and uncertainties that may affect the Company's operations, markets, products, services, prices and other factors as discussed in filings with the Securities and Exchange Commission. These risks and uncertainties include, but are not limited to, economic, competitive, legal, governmental and technological factors. Accordingly, there is no assurance that the Company's expectations will be realized. The Company assumes no obligation to provide revisions to any forward-looking statements should circumstances change, except as otherwise required by securities and other applicable laws.