BioNitrogen (BION) Signs Agreement with Manuelita to Explore Partnership in Latin America
(firmenpresse) - MIAMI, FLORIDA -- (Marketwire) -- 03/27/12 -- BioNitrogen Corp. (PINKSHEETS: BION) a developer of revolutionary patent-pending technology for converting renewable and abundant biomass waste into high-nitrogen urea and urea fertilizer is pleased to announce further developments on their global meetings with key governments, businesses and organizations.
On March 21st, 2012 BioNitrogen's delegation, headed by Carlos A. Contreras, President of International Operations met with Mr. Alberto Jose Otoya Dussan, Corporate Development Manager of Manuelita Corporation S.A.S. ("Manuelita") in the City of Cali, Colombia.
Manuelita and BioNitrogen signed a non-circumvent and non-disclosure Agreement relating to the potential partnership arrangement for the production of fertilizers. The purpose of the agreement is to provide Manuelita technical and economic confidential information in an up-coming visit to both Texas and Florida which Manuelita will then utilize to evaluate and analyze to potentially sign a Memorandum of Understanding containing terms and conditions for Joint Venture regarding production of fertilizers in Latin America.
The information covered under the Agreement includes business and technical information (documents, records and data) that the companies will review to outline the partnership.
Manuelita's review includes documents, records and data related to Patent Cooperation Treaty Application No. PCT/US2009/053547, Modularized System and Method for Urea Production Using a Bio-mass Feedstock, Modularized Urea Production Using a Biomass Feedstock, and U.S. Provisional Patent Application No. 61/088,253, System Method and Apparatus For Producing Fertilizer and/or Mixed Fuels, together with all analyses, compilations, drawings, details, formulas, studies, memoranda, notes and other relevant documents, records and data supplied by BioNitrogen.
"Manuelita is a key player and leader in the agriculture industry in Latin America. We share their commitment to meet the needs of the present without compromising the needs of future generations." stated Mr. Carlos A. Contreras, President of International Operations for BioNitrogen "We are looking forward to creating a sustainable business partnership in the main production areas of Latin America where our companies and projects fit together perfectly."
About Manuelita Corporation S.A.S.
Manuelita is a diversified agro-industrial organization with a growing presence in the major production areas of Latin America. The 140 year old privately owned company consolidates sustainable businesses in the main production areas of Latin America, by offering food and renewable energy, while promoting the well-being of its neighboring communities and it's over 7,000 employees and becoming an environmental leader. Its target customers are mainly from the food, energy and chemical sectors, in both domestic and international markets. For more information, please visit .
About BioNitrogen Corp.
BioNitrogen is an entrepreneurial, American company that has been established to design and to build fully operational, turnkey manufacturing facilities to produce urea. BioNitrogen is undertaking these efforts in response to the challenges presented by an ever expanding world population, a rapidly increased need for food production, and an awareness of the fragility of the world's environment. Given all these challenges and the promise that the Company's products possess to effectively respond to these challenges, the Company believes that it is positioned at the right place and time. BioNitrogen's modular plant designs are capable of manufacturing 15 tons of urea fertilizer per hour for a total annual production of approximately 124,200 tons per plant.
BioNitrogen is headquartered in Miami, Florida, USA and trades on the over-the-counter pink current information tier under the stock symbol BION. Learn more at .
Additional information can be found on BioNitrogen's website at and an executive corporate summary video can be viewed here, .
Safe Harbor Statement
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 - This press release contains forward-looking statements, including without limitation statements about the operations and future prospects for BioNitrogen Corp. (the "Company"). Forward-looking statements in this press release should not be viewed as pledges or undertakings regarding future performance. These forward-looking statements are subject to risks and uncertainties that could cause the Company's actual results to vary materially from those anticipated. The Company cautions the reader not to place too much reliance upon any such forward-looking statements, because such forward-looking statements reflect the opinions and beliefs of the Company only as of the date when they were made. Factors that may cause actual results to differ materially from the forward-looking statements contained in this release include, among others, the following: (i) the Company's future operational, financial or marketing performance; (ii) the ability of the Company to bring new products to market that are complementary to the products that the Company currently produces; (iii) the ability of the Company to increase or maintain profit margins on the products it offers to the marketplace; (iv) the strength of the Company's product development pipeline; (v) the Company's growth and profitability prospects; (vi) the estimated size and growth prospects of the natural fertilizer market; (vii) the Company's competitive position in the natural fertilizer market and its ability to take advantage of future opportunities in this market; (viii) the benefits of the Company's products to be realized by customers; (ix) the receptiveness of the agricultural and commercial market for bulk urea or other products that the Company manufactures; and (x) a reduction in the cost of natural gas or other inputs that may make the cost of producing urea using alternate methods less expensive compared to the cost of producing urea at one of the Company's plants. Forward-looking statements are based on management's beliefs and opinions at the time the statements are made. The Company does not have any obligation to update forward-looking statements should circumstances change or should management's beliefs or opinions change.
Contacts:
BioNitrogen Corp.
8725 N.W. 18th Terrace, Suite 105
Doral, FL 33172 U.S.A.
(305) 418-8545
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Datum: 27.03.2012 - 06:55 Uhr
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