BioNitrogen Completes Casale Group Funding for EPC Cost Estimate
January 02 2014 - 9:48AM
Marketwired
BioNitrogen Completes Casale Group Funding for EPC Cost Estimate
WEST PALM BEACH, FL--(Marketwired - Jan 2, 2014) - 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 funded $340,000 to the Casale Group to finalize the
engineering design work in support of the Engineering, Procurement
and Construction (EPC) initial cost estimate. The source of the
funds is a $2 million financing announced on December 13,
2013. The balance of that sum is funding the initial EPC
contract for the first plant, including the CCC group and AMEC
engineering and design.
BioNitrogen first announced its agreement with the Casale Group
of Switzerland on August 15, 2013. The agreement contracts the
Casale Group to employ its ammonia and urea plant technology for
BioNitrogen's first plant. Casale has either built or refurbished
over 400 ammonia and urea plants worldwide and is a market leader
in ammonia and urea technologies.
"This funding will complete the necessary engineering design
work on the Casale Group ammonia and urea components allowing us to
complete the initial EPC estimates for the first plant," said Ernie
Iznaga, VP of Operations. "We are very excited about moving the
project forward with the CCC Group, AMEC and the Casale Group."
About Casale Group Founded in 1923, the Casale Group is a
Swiss-based global leader in the design and refurbishment of
ammonia, urea, methanol and chemical facilities. Leveraging on the
know-how and intellectual property developed in over 500 reference
projects around the world, the Group has a unique expertise in
ammonia, methanol and urea production. The Group's services
include: technical audits -- advisory and consultancy services for
improved plant performance; feasibility studies; licensing of
proprietary technologies; basic and detailed engineering; project
management; procurement services; plant construction management;
plant commissioning, start-up and optimization; project contracting
on a turn-key basis; after-sales technical services. For additional
information, please visit www.casale.ch.
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.
Contact Adam Friedman Principal Email Contact 917-675-6250
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