BioNitrogen Corporation Signs Agreement to Acquire 245 Acres of Land in Pointe Coupe, Louisiana
08 Julio 2013 - 2:44PM
Marketwired
BioNitrogen Corporation (PINKSHEETS: BION), a cleantech company
that utilizes exclusive technology to build
environmentally-friendly plants that convert biomass into urea
fertilizer, announced today that it has signed an agreement to
acquire approximately 245 acres in Pointe Coupe Parish, Louisiana
for approximately $2 million. The land is adjacent to the Pointe
Coupe Port Commission port in Lettsworth, LA operated by Terral
River Services.
"We are very excited to have secured this important strategic
property," said Bryan Kornegay Jr., President and CFO of
BioNitrogen. "This contiguous 245-acre parcel is unique in that it
is adjacent to the Pointe Coupee Parish port terminal which will
provide us turnkey operational capacity and open access to the
Mississippi River, Red River and Atchafalaya River systems. The
land is surrounded by significant forestry biomass within a 75 mile
radius on three sides and agricultural biomass to the south. The
site provides excellent road and barge transportation access with
ample land for biomass accumulation, construction of up to five
plants and expansion of value added businesses such as urea coating
and blending."
Closing is scheduled for the fourth quarter of 2013.
Construction on this site for the initial Louisiana plant is
scheduled to be performed by CCC Group and is slated to commence in
the fourth quarter of 2013.
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
Email Contact (917)-675-6250
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