BioNitrogen Receives Approval to Issue Bonds for Plant in Hardee County, Florida
(firmenpresse) - DORAL, FL -- (Marketwire) -- 11/06/12 -- , LLC, a wholly-owned subsidiary of (PINKSHEETS: BION), announced today that it received approval from the Board of County Commissioners of Hardee County on Thursday, November 1, 2012 for the Florida Development Finance Corporation (State of Florida) to issue up to $150 MM in bonds for the construction of the Hardee County plant. A critical hurdle was cleared in the process of receiving a Major Special Exception that allows construction of the plant to proceed without re-zoning. As part of the process, the planning and zoning board issued its unanimous approval and recommendation of the Major Special Exception at a hearing held on the same date.
Construction on the site is slated to commence in early 2013. The proposed plant will be able to produce 15 tons of urea fertilizer per hour, or 124,200 tons annually.
"The County's approval sets the stage for the initiation of the construction process of what will be the first environmentally-friendly plant in the United States that converts biomass into urea fertilizer," said Carlos A. Contreras, President and CEO of BioNitrogen. "We are excited to be another step closer to providing domestically produced urea fertilizer for the North America market."
(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 .
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.
Adam Friedman
Principal
Adam Friedman Associates
917.675.6250
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Datum: 06.11.2012 - 14:51 Uhr
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News-ID 1167847
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