BioNitrogen Corporation, a cleantech company that utilizes exclusive technology to build environmentally-friendly plants that convert biomass into urea fertilizer, announced today that it has signed an agreement to acquire approximately 245 acres in Pointe Coupee Parish, Louisiana for approximately $2 million. The land is adjacent to the Pointe Coupee Port Commission port in Lettsworth, LA operated by Terral River Services.
"We are very excited to have secured this important strategic property," said Bryan Kornegay Jr., President and CFO of BioNitrogen. "This contiguous 245-acre parcel is unique in that it is adjacent to the Pointe Coupee Parish port terminal which will provide us turnkey operational capacity and open access to the Mississippi River, Red River and Atchafalaya River systems. The land is surrounded by significant forestry biomass within a 75 mile radius on three sides and agricultural biomass to the south. The site provides excellent road and barge transportation access with ample land for biomass accumulation, construction of up to five plants and expansion of value added businesses such as urea coating and blending."
Closing is scheduled for the fourth quarter of 2013. Construction on this site for the initial Louisiana plant is scheduled to be performed by CCC Group and is slated to commence in the fourth quarter of 2013.