BioNitrogen Signs Agreement With Saipem for EPC Services
WEST PALM BEACH, FL--(Marketwired - Dec 16, 2014) - BioNitrogen Holdings Corp. (OTC PINK: BION), a cleantech company that utilizes patented technology to build environmentally-friendly plants that convert biomass into urea fertilizer, today announced that it has signed an agreement with Italy-based Saipem, a leader in the provision of engineering, procurement, project management and construction services (EPC), to provide BioNitrogen with EPC services for its urea manufacturing facilities.
Under the terms of the agreement, Saipem will carry out the engineering design of BioNitrogen's plants, procure all the equipment and materials necessary, and construct BioNitrogen's facilities.
"Saipem has both the experience and reputation that is required to carry out our projects efficiently," said Bryan Kornegay, Jr., Director of BioNitrogen. "Saipem has built 130 urea plants around the world since 1971, making it the preeminent firm in this industry. This agreement is a critical step in BioNitrogen's plant engineering and construction process."
"After completion of the FEL 2 feasibility study, we have selected Saipem to be the lead EPC contractor," said Carlos Contreras, Sr., CEO of BioNitrogen. "We look forward to Saipem working with our best in class technology providers and with AMEC who has performed the engineering on our plants to date."
About Saipem
Saipem, based in Milan, Italy, operates in the Engineering & Construction and Drilling businesses, with a strong bias towards oil & gas-related activities in remote areas and deep-waters. Saipem is a leader in the provision of engineering, procurement, project management and construction services with distinctive capabilities in the design and execution of large-scale offshore and onshore projects, and technological competences such as gas monetization and heavy oil exploitation. Saipem has built over 130 reference nitrogen plants since 1971. Additional information can be found at www.Saipem.com.
About BioNitrogen Holdings Corp.
BioNitrogen Holdings Corp. (OTC PINK: 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.
