WEST PALM BEACH, FL--(Marketwired - December 13, 2013) - BioNitrogen Holdings Corp. (PINKSHEETS: BION), a cleantech company that utilizes patented technology to build environmentally-friendly plants that convert biomass into urea fertilizer, announced today that it has received over $2 million in financing. The majority of financing is in the form of a short term note for up to 6 months. In addition to funding the work related to signing the engineering, procurement and construction (EPC) contract for the initial plant, including the CCC Group, AMEC and the Casale Group engineering and design work, funds will be used for non-EPC work such as site, civil and environmental work related to the initial plant, working capital and general purposes.
"We are pleased about this important step in BioNitrogen's continued progress towards constructing its first plant," said Bryan Kornegay, Jr., President and CFO of BioNitrogen. "This financing continues the advancement of the initial plant and moves us toward completing the EPC contract."
About BioNitrogen Holdings Corp
BioNitrogen Holdings Corp. (PINKSHEETS: BION) is a cleantech company that utilizes patented 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.