DORAL, FL -- (Marketwire) — 03/07/13 -- 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 begun engineering design leading to construction on a railroad spur in Hardee County where the first BioNitrogen urea fertilizer plant will be built. As previously announced, the Hardee County Industrial Development Authority ("IDA") allocated $2 million dollars in grants to BioNitrogen's Florida Plant subsidiary for reimbursable expenses incurred during the construction of the Hardee County plant to cover expenses related to the rail spur, construction and engineering of the initial plant.
KBR's Delaware-based operation, which is a KBR center of excellence for Bio Based Chemicals and Fuels, will be the lead engineer and project manager on the construction of the initial plant. In keeping with its core-values as a local community supporter, BioNitrogen will also be working with local Florida-based companies that will be involved in the design and construction of the rail spur, including Mulberry-based C.J. Bridges, which will handle construction of the rail spur, and Lakeland-based Kimley-Horn, which will handle civil and other site engineering for the project.
The railroad spur will link the plant site with the main railroad line owned by CSX, facilitating the transport of biomass to the plant and urea to BioNitrogen customers through its offtake agreement with United Suppliers, Inc.
"The rail spur is a critical piece of infrastructure and we're pleased to finalize the design and begin construction," said Bryan Kornegay, Jr., President and CFO of BioNitrogen. "We're also committed to using local companies for the rail spur and look forward to expanding it throughout our property for future development. Funding from the Hardee County Industrial Development Authority is central to the success of the overall plant construction project and we are pleased to partner with them."
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: Adam Friedman Principal Adam Friedman Associates adam@adam-friedman.com 917-675-6250
Rules of Conduct
Welcome to the discussion.
Or, use your linked account: