If the patents are truly tied up in the Chapter 11 proceedings, then there is still the same small glimmer of hope. While we have been waiting on the cash for an EPC, an investor at any time could have swooped in with the needed capital. That possibility still exists. I am just trying to figure out it the proceedings make it more or less attractive to a would be white knight.
$7 per bushel corn and $ 11 per bushel wheat got the concept of BION off to a great start. Now at prices running at 50% of those levels, it is a harder sell. Many ammonia plants have been announced, and BION is not the only one that did not start construction.
Nitrogen has and will continue to be a volatile commodity. The majority of nitrogen producers may run through some rough quarters, and see some red ink due to expensive maintenance costs during the off season, but world wide nitrogen is a good long term investment. There will be additional Nitrogen capacity come on line every year as we replace lots of aging ammonia plants in China.
The most affordable, efficient plants with the right locations are the first ones that will break ground. Others will follow and some will get the axe.
Obviously the debts are all still there, so we will wait and see..... Don't send in more than you can afford to smile about losing.
GO BION!
https://ammoniaindustry.com/bionitrogen-in-bankruptcy/