Wednesday, May 07, 2014

Penny Stock Company Building Biomass Fertilizer Plant

Four Cents Can Buy A Piece Of The Biomass Industry
CLEWISTON, FL. -- Leveraging lots of million dollar loan packages and help from government agencies, BioNitrogen Holdings Corp., a "cleantech" company that a utilizes recently patented technology to build environmentally-friendly plants that convert biomass into urea fertilizer, will hold a ribbon cutting ceremony at 10 am on May 14, 2014, at the site of the company's initial plant in Hendry County, Florida. 

Among inducement initiated by Hendry county, the County was awarded a Florida Department of Transportation Economic Development Fund grant of $848,122 for the construction of turn lanes and an access road to the Weekley Industrial Park in Clewiston, the proposed plant site.

Additionally, approval was received for up to $312,000 in Qualified Target Industry ("QTI") tax refunds from the Florida Department of Economic Opportunity. The QTI tax refunds will be awarded over the course of five years.

$9.6 million has been allocated by the Florida New Markets Capital Investment Program. The NMTC investment will be to Hendry BN Construction & Fertilizer Services, LLC, a newly formed subsidiary of BioNitrogen Holdings Corp. The proceeds of the financing will be used for capital equipment, engineering, closing costs and improvements to the Hendry County site, including feedstock and fertilizer services and related equipment.

Hendry BN will operate on approximately 15 acres at the Weekley Industrial Park and provide mulch, feedstock, construction and fertilizer services to the site, Hendry County and surrounding areas.

Already having racked up a net loss of $2.1 million according to the latest published earnings, company officials predict five full time jobs within the coming year. The stock is currently selling for four cents a share.

But, always hopeful in a county with the highest unemployment number in Florida, Hendry county officials were quoted in recent news releases saying:

"We are excited about this investment and are hopeful this is the beginning of our county starting to diversify economically while creating new job potential," said Karson Turner, Chairman of the Hendry county Board of County Commissioners. "This is an important project to the County. Our Economic Development Council, County administration and Industrial Development Authority have worked closely together to create attractive incentives to further induce BioNitrogen to build a plant here in our County."

"This is Hendry County's largest project announcement in 50 years," said Gregg Gillman, President of the Hendry County Economic Development Council. "I look forward to seeing this new facility take shape and create jobs for Hendry County residents.

The ceremony will be held at the Weekley Brothers Industrial Park located at 3013 Evercane Road in Clewiston. Senior management of BioNitrogen and state and local officials will be in attendance and will discuss the plans for Hendry County.


  1. There is always a light at the end of the tunnel if one can just be hang on long enough. "...County's largest project announcement in 50 years"? It is worth the wait and the effort and enthusiasm too. May the fruition mark the beginning of turn around for the County, residents, and the company too, Amen.

  2. Anonymous12:04 AM

    5 employees added to Hendry co., largest project in last 50 years? I think McDonalds project was bigger and employes many more.