BioNitrogen, City of Perry close to deal – North Florida's Rising StarNorth Florida's Rising Star
From Perry News-Herald, September 12, 2014
Efforts by the Taylor County Commission, Perry City Council and Taylor County Development Authority to entice the West Palm Beach-based BioNitrogen to build a multi-million dollar plant in Taylor County have seemingly paid off, with company officials announcing this week they hope to hold a ribbon cutting ceremony at their proposed building site here within the next 30 days.
The City of Perry and BioNitrogen are very close to finalizing an agreement under which the city will provide collateral guaranty on a $5 million line of credit taken out by the company for work on a proposed plant here.
BioNitrogen President and Chief Financial Officer Bryan B. Kornegay Jr. said that once the agreement is signed, they are prepared to begin work on the project with the goal of “moving dirt” by the end of the year at the site, located on Foley Road (CR 30) across from Georgia-Pacific’s Foley Cellulose Mill.
He added that environmental studies have been completed on the property and they have an agreement in place to purchase the 55-acre parcel from Foley Timber and Land Co.
“We’re excited about the support we’ve received from the area,” Kornegay said. “We have been welcomed with open arms.
According to company officials, BioNitrogen plans to utilize patented technology to convert biomass into urea fertilizer at a series of plants, including the one planned for Taylor County.