Converted Organics Fertilizers Being Tested on Grain Seed Treatment in Idaho and Washington
BOSTON, May 26, 2011 (GLOBE NEWSWIRE) -- Converted Organics Inc. (Nasdaq:COIN) announced today that field trials testing a potential new application of its organic liquid fertilizers will be on display at The McGregor Company's Seed Treatment Product Development Field Day on June 15, 2011 at the Miller Research facility in Rupert, ID. The field trials will highlight the latest seed treatment products from BASF, Bayer, Chemtura, Syngenta, Valent and other companies on wheat, barley, beans and other crops important to Idaho agriculture. In the test,
Converted Organics liquid fertilizers are being applied directly to grain seed concurrently with fungicides to determine if this application will increase seed germination and seedling establishment. The McGregor Company's seed is widely used on approximately one million acres of grain in Eastern Washington and Idaho.
In 2010, potato crop trials in Idaho showed that Converted Organics LC 1-1-1 liquid fertilizer applied in combination with Biorem Inc.'s Pharmgrade™ Compost increased yields by 22% - 33% over acreage treated with just the grower's standard synthetic fertilizer. These extensive trials demonstrated to growers the significant improvement in the economic yield per acre for their potato crop. Potatoes are the highest valued crop in Idaho, generating $824 million in production value in 2010. Crop trials suggest that the value of Idaho's potato crop could be increased to $1.0 to $1.2 billion by applying Converted Organics liquid
fertilizer and Pharmgrade™ Compost in combination with synthetic fertilizers.
This year, Converted Organics Inc. has initiated several other field trial programs in Idaho and Washington in an effort to open up other promising market opportunities for the sale of its organic liquid fertilizers. Converted Organics' trials will solidify and build on those conducted last year and all have targeted objectives for some of the highest value crops in Idaho, including: 1) increased yield and quality improvement for potatoes; 2) increased yield and sugar percentages in sugar beets; and 3) increased protein content and root establishment in grain.
About Converted Organics
Converted Organics' (Nasdaq:COIN) mission is to promote, develop and operate profitable innovative clean technologies that contribute to the improvement of our environment by use of sustainable business practices and the judicious use of natural resources. Converted Organics Inc. is currently composed of three primary lines of business at the intersection of Agriculture, Water and Waste Recycling. Each business contributes to our mission and uses sustainable business practices that protect and value the environment. The three lines of business are Organic Fertilizer (Converted Organics), Vertical Farming (TerraSphere Systems - www.terraspheresystems.com), and Industrial Wastewater Treatment (Industrial Wastewater Resources).
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About The McGregor Company
The McGregor Company produces and markets seeds and fertilizers. The Company offers seed products for farmers; and farm input needs, including dry, liquid, or suspension fertilizers. The Company also provides transportation services, truck and trailer repairs, parts sales, office space rental services, and truck space rental services. In addition, it sells tanks, and other new and used equipment. The McGregor Company was founded in 1882 and is headquartered in Colfax, Washington. It has service centers in Pomeroy, Palouse, and Pullman, Washington.
This press release contains forward-looking statements that are subject to risks and uncertainties. These forward-looking statements include information about possible or assumed future results of our business, financial condition, liquidity, results of operations, plans and objectives. In some cases, you may identify forward-looking statements by words such as "may," "should," "plan," "intend," "potential," "continue," "believe," "expect," "predict," "anticipate" and "estimate," the negative of these words or other comparable words. These statements are only predictions. One should not place undue reliance on these forward-looking statements. The forward-looking statements are qualified by their terms and/or important factors, many of which are outside the Company's control, involve a number of risks, uncertainties and other factors that could cause actual results and events to
differ materially from the statements made. The forward-looking statements are based on the Company's beliefs, assumptions and expectations of our future performance, taking into account information currently available to the Company. These beliefs, assumptions and expectations can change as a result of many possible events or factors, including those events and factors, not all of which are known to the company, described most recently in the "Risk Factors" section in the Company's most recently filed annual report on Form 10-K. Neither the Company nor any other person assumes responsibility for the accuracy or completeness of these statements. The Company will update the information in this press release only to the extent required under applicable securities laws. If a change occurs, the Company's business, financial condition, liquidity and results of operations may
vary materially from those expressed in the aforementioned forward-looking statements.
CONTACT: Investor Contacts:
George McIntyre, 212-732-4300
Jim Blackman, 713-256-0369
PR Financial Marketing
Converted Organics Inc.
Source: Converted Organics Inc.
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