Bion Environmental, Kimmeridge execute MOU for ammonia recovery tech

Bion Environmental (BNET) Technologies executed a Memorandum of Understanding with Kimmeridge Energy Management Company. The MOU outlines a preliminary framework to explore the use of Bion’s ammonia recovery technology at a large Renewable Natural Gas facility. Under the MOU, Bion and Kimmeridge will share costs and collaborate on engineering work, fertilizer sample production, testing, and agronomic validation, lifecycle analysis, and commercial planning. The purpose of these efforts is to evaluate and negotiate a Joint Venture to develop Bion’s Ammonia Recovery System at a potential RNG facility operated by an affiliate of Kimmeridge. As part of the agreement, Bion has granted Kimmeridge a limited Right of First Refusal on a large equity investment in the Company, at a premium to current market price, during the evaluation period.