DORAL, FL--(Marketwire - Mar 21, 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 the Battle River Agri-Ventures Co-op in Killam, Alberta to conduct feasibility study for one or more plants using BioNitrogen's patent pending technology.
As part of the study, BioNitrogen will perform the following activities:
- Market Study on Urea consumption and availability of biomass in the region.
- Viability of potential off takers for the final urea product.
- Biomass sample material and gasification analysis to determine the viability of available biomass to produce syngas within specifications.
- Analysis of logistical factors including biomass feedstock supply to the plant.
- Identification of plant construction constraints and shipment methods of urea to potential customers.
- Evaluate and Analyze plant operational elements and provide recommendations to maximize operational effectiveness.
"This agreement represents a first step in BioNitrogen's global strategy for making its unique technology available outside of the United States," said Bryan Kornegay, Jr., President and CFO of BioNitrogen. "We are eager to work in partnership with progressive, forward thinking companies that seek to bring our cost competitive and sustainable technology to their region."
If the study concludes that constructing a plant is feasible in Alberta, Canada, BioNitrogen will work closely with Battle River Agri-Ventures Co-op to identify viable options to build the plant, including a partnership or the licensing of BioNitrogen's patent-pending technologies.
About BioNitrogen Corporation
BioNitrogen Corporation (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.