SOURCE: BioNitrogen Corporation
MIAMI, FL--(Marketwire - Aug 15, 2012) - BioNitrogen Corporation (PINKSHEETS: BION), a cleantech company that utilizes proprietary technology to build environmentally-friendly plants that convert biomass into urea fertilizer, announced today the signing of a framework agreement with United Suppliers, Inc.
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.
The agreement provides United Suppliers with the right of first refusal for biomass-based urea, which will be produced by any future BioNitrogen plants in North America. It also provides for urea purchases by third-party customers of United Suppliers. The current agreement supersedes all previous agreements with United Suppliers.
Mr. Carlos Contreras, President and CEO of BioNitrogen, stated, "The support and backing of such an important fertilizer supplier is a testament to the validity of our business model and mission. This relationship provides us access to 735 Ag Retailers in United Suppliers' footprint in North America. Our intent is to build plants in the U.S. that allow the North American Ag Retailers and farmers to use domestic urea fertilizer made from U.S. biomass. Our partnership with United Suppliers creates a true win for our company, and for the North American Ag Retailer and the farmers that United Suppliers represents."
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.