SOURCE: BioNitrogen Corporation

BioNitrogen Corporation

April 02, 2013 10:02 ET

BioNitrogen Corporation Announces Supply Agreement With United Suppliers, Inc. for Plants in Pointe Coupee Parish, Louisiana

DORAL, FL--(Marketwired - Apr 2, 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 it has signed a supply agreement with United Suppliers, Inc. for the offtake of urea fertilizer for its planned plants in Pointe Coupee Parish, Louisiana.

United Suppliers is owned by 735 locally-controlled Ag Retailers and provides crop nutrients such as urea fertilizer to its owners in 20 states from east of the Rockies to west of the Mississippi River plus three of the western provinces in Canada.

This will be the second supply agreement under the framework agreement announced with United Suppliers in August 2012. The supply agreement contract will provide United Suppliers with the plant production of approximately 124,200 short tons annually per plant for twenty-five (25) years.

Mr. Matt Carstens, United Suppliers Vice President of Crop Nutrients, stated, "The agreement for these plants provides a framework for building plants in a strategic area to provide green domestic urea to our nitrogen fertilizer customers based on BioNitrogen's sourcing of biomass raw material. It will enhance our ability to obtain US-manufactured fertilizer from BioNitrogen."

Bryan Kornegay, Jr., President and CFO of BioNitrogen, said, "We are pleased to further our relationship with United Suppliers. This supply agreement is another important step toward providing green domestic urea fertilizer made from U.S. biomass to North American farmers."

About United Suppliers, Inc.
United Suppliers is a wholesale organization based in Eldora, Iowa with a defined purpose of helping their owners be more capable and competitive. The company is owned by locally controlled agricultural retailers who do business throughout the United States and Canada, and provides owners a reliable, convenient and timely supply of crop nutrient and crop protection products, as well as customized business solutions. United Suppliers was established in 1963 by 30 Iowa retailers joining forces to create their own distribution company and has since grown to 735 owners in 20 states & 3 providences, with more than 400 employees and sales in excess of $2 billion. For more information please visit www.UnitedSuppliers.com.

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.

Contact Information

  • CONTACT:
    Adam Friedman
    Principal
    Adam Friedman Associates
    Email Contact
    (212) 981-2529