SOURCE: BioNitrogen Corporation
DORAL, FL--(Marketwire - Feb 27, 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 exclusive agreement with CF Industries, a global leader in fertilizer manufacturing and distribution, for the removal of its woody biomass from phosphate mining land to use for urea fertilizer production. This will supply BioNitrogen with biomass for its first plant in Hardee County, FL, and further demonstrates CF Industries environmental stewardship in its phosphate mining operations.
According to the terms of this agreement, BioNitrogen will be able to receive all of the woody biomass from CF Industries where it clears wooded land in Hardee County to mine for phosphate. The agreement is for an initial 180-day period with the opportunity for an extended partnership.
"We are pleased to be working with CF Industries," said Bryan Kornegay, Jr., President and CFO of BioNitrogen. "This agreement will not only grow our secured biomass supply but it will also promote sustainability in Florida. Most of the trees in rural phosphate mining areas such as Hardee County are burned. It's great to see a company such as CF Industries promoting environmentally friendly approaches to phosphate mining and creating positive impacts for the community."
BioNitrogen also announced today that it has received approval from the Florida Department of Environmental Protection for woody biomass collection on the company's 600 acre land parcel in Hardee County.
Construction on the site is slated to commence in early 2013. The proposed plant will be able to produce 15 tons of urea fertilizer hourly, totaling 360 short tons daily or 124,200 tons annually.
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.