BioNitrogen's Technological Exclusivity and Production Process Agreement is Finalized
1055 words
1 June 2012
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Revisions to Agreement Better Position BioNitrogen for Long Term Growth and Stability
MIAMI--(BUSINESS WIRE)--June 01, 2012--
BioNitrogen Corporation (Pink Sheets:BION) a developer of revolutionary patent-pending technology for converting renewable and abundant biomass waste into high-nitrogen urea and urea fertilizer has finalized and executed a revised agreement with Agricultural Bioenergy Products, LLC (ABP) and BIO-SNG Technologies International, LLC, a wholly owned subsidiary of BioNitrogen. In yet another important agreement for BioNitrogen, the Company today announced an exclusive agreement that extends the Patent Cooperation Treaty Application No. PCT/US2009/053547, Modularized System and Method for Urea Production using a Bio-mass Feedstock exclusively to BioNitrogen. The U.S. Patent filing involves a proprietary process for the conversion of biomass into Urea Fertilizer. BioNitrogen's President & CEO, Carlos A. Contreras offers his perspective of this important agreement, "Today BioNitrogen continued to build a dynamic future for our employees and shareholders. In yet another continuation of recent business development agreements, this particular agreement will result in worldwide urea production as the company now controls the exclusivity to this amazing proprietary conversion technology. This agreement also allows BioNitrogen to further sub-license this proprietary conversion technology to other entities and strategic partners to build plants and produce urea worldwide. In addition, this revised agreement eliminates the up-front fee to ABP as contained in the prior agreement, thus allowing BioNitrogen to utilize its resources in developing its business model."
Frank J. Segredo, BioNitrogen's Corporate Development Officer also offered the following, "BioNitrogen is positioning itself for explosive growth over the next five years. This agreement is just one of many in our pipeline that will result in worldwide production of an extremely important part of the overall food supply. For example, 48% of the world's food is produced with the use of nitrogen fertilizer. Every year, the world uses 170 million tons of fertilizer for not just food, but feed, fiber and fuel. Perhaps even more important is the fact that history continues to show that fertilizer is a key component in the global quest to ensure food security which leads to economic and political stability that in turn leads to sustainable agriculture. The bottom line is actually quite simple," says Segredo, "the world needs more economical urea fertilizer production plants especially in areas where natural gas and product transport are huge economic barriers to build such plants. BioNitrogen is truly a company in the right place and time with the perfect business and production model."
Mr. Contreras offers his final perspective on the subject, "The vast majority of fertilizer producers and governments throughout the world are looking for new and existing fertilizer companies that will help feed their Countries and our Planet. Based on the number of phone calls we receive daily, these Companies and key Government Officials are seriously looking for alternative production technologies to invest in our futures. Thus our agreement to secure exclusivity in the proprietary conversion process will be looked down the road as historic for BioNitrogen."
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 http://www.bionitrogen.com/Invest_Today/ [http://www.bionitrogen.com/Invest_Today/].
Additional information can be found on BioNitrogen's website at www.BioNitrogen.com [http://www.bionitrogen.com]
19.07.2012, 3312 просмотров.
