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BioNitrogen purchases additional 600 acres for plant site

January 10, 2013 |

In Florida, BioNitrogen has purchased approximately 600 acres of land in Hardee County, Florida, for $9.7 million. The total acreage includes the 40 acres of land BioNitrogen acquired previously in September 2012. The purchase was financed by an $8 million mortgage note and $1.7 million in common stock warrants. The land will be used to start construction of their plant in early 2013, and is expected to produce 124,200 TPA of urea fertilizer.

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