SOURCE: BioNitrogen Corporation

BioNitrogen Corporation

April 04, 2013 13:10 ET

BioNitrogen Corporation Signs Agreement With BioResource Management, Inc. for Management & Logistics of Biomass Feedstock

DORAL, FL--(Marketwired - Apr 4, 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 an agreement with BioResource Management, Inc. to manage the logistics and delivery of woody biomass to BioNitrogen's plant in Hardee County.

BioResource Management, Inc., which specializes in the management of woody biomass resources for energy, chemicals, and fuel purposes, has been in the wood and forest management business in Florida since 2005. BioResource manages the delivery of 3,000 tons per day of woodchips to a cogen power plant in Florida, and they have the capability of supplying more than 240,000 tons of biomass annually for BioNitrogen's Hardee County plant. As part of the contract, BioResource will manage the logistics of all biomass for the Hardee County plant.

Richard Schroeder, President and founder of BioResource Management and forest management expert, said, "We are excited to be working with BioNitrogen and look forward to being the company's supplier of choice for woody biomass feedstock. Our company has a 30 year track record of managing biomass for major companies and we are certain that we will make a significant contribution to the success of the BioNitrogen plant."

"BioNitrogen has put together a 'best of the best' team with KBR, which will be providing the process engineering and detail design for the plants; United Suppliers, which is our offtake partner for the Florida and Louisiana plants; and now BioResource management, which will provide management and logistics services for the biomass feedstock supply to the Hardee County plant. We're thrilled to be working with Richard and his team at BioResource Management," said Ernie Iznaga, Operations Manager at BioNitrogen.

"In addition to biomass management services, BioResource Management will be performing feasibility studies for BioNitrogen to ensure that our urea plants are located in areas with acceptable levels of biomass feedstock and that those critically important resources are being managed in an environmentally responsible and sustainable manner," said Bryan Kornegay, Jr., President and CFO of BioNitrogen.

About BioResource Management, Inc.
BioResource Management, Inc. (BRM) is a forestry, geography and agriculture-based firm that focuses on biomass resources -- organic material used for energy, chemicals, and agricultural uses. Its personnel bring together over forty years of experience in forestry, biomass production, agriculture, and organic materials recycling. Capabilities include turn-key project development, applied research and facilities management. BRM is a registered contractor qualified for federal and state procurement, a member of professional organizations and a participant in state, federal and international research. For additional information, visit www.BioresourceManagement.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
    (917)-675-6250