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BOSTON, Jan 28, 2008 (BUSINESS WIRE) -- The United States Composting Council has selected Converted Organics Inc. (NASDAQ:COIN) to make a presentation at its upcoming Conference and Exhibition in Oakland, CA, February 9-12, 2008. The USCC Conference is the largest conference in North America for the organics recycling, composting and wood waste recycling industry. The Converted Organics presentation is titled: "An Alternative - Enhanced Autogenous Thermophilic Aerobic Digestion Turns Food Waste into Soil Amendment."
"The opportunity to discuss our innovative in-vessel aerobic digestion technology at a conference as important as the USCC Annual Conference is a big plus for Converted Organics," said Jack Walsdorf, Chief Operating Officer of Converted Organics. "The professionals at the conference know full well that alternatives to the traditional handling of food waste will be necessary and our presentation will help develop opportunities for Converted Organics."
Dr. Stuart Buckner, Executive Director of the USCC, said, "Our conference is a national forum, and new, alternative treatment technologies such as the Converted Organics in-vessel solution will be of interest to our membership and attendees. Organics recycling is receiving well deserved attention and this presentation is a good fit for our conference program.
The Converted Organics Inc. recycling facility that is under construction in Woodbridge, NJ has been approved for inclusion in the Middlesex County New Jersey Solid Waste Management Plan and has been permitted as a Class C Recycling Facility. When fully operational, the Woodbridge facility is expected to process approximately 78,000 tons of organic food waste, which will be diverted from landfills, and produce approximately 7,500 tons of dry fertilizer product and 6,700 tons of liquid fertilizer annually.
About Converted Organics Inc.
Converted Organics (NASDAQ:COIN), based in Boston, MA, is a development stage company dedicated to producing valuable all natural, organic soil amendment or fertilizer products through food waste recycling. The company uses proven, state-of-the-art technologies to create a product that helps grow healthier food and improve environmental quality. Converted Organics plans to sell and distribute its environmentally-friendly fertilizer products in the retail, turf management, and agribusiness markets.
Converted Organics' fertilizer products will be produced in both a dry pellet and liquid concentrate. Converted Organics products have been tested in numerous field trials for more than a dozen crops with the result that, on average, the net value of the farmer's crop increased 11-16%, depending on the particular crop and product application. This is due, in part, to the disease suppression characteristics of the product, which reduce or eliminate the need for other costly, often toxic, crop protection applications. Increased use of nitrogen in commercial agriculture and turf grass applications, such as golf courses, has reduced the soil's ability to absorb nitrogen and other nutrients. Using the products produced by Converted Organics helps restore the soil by replenishing these micronutrients. This reduces the amount nitrogen required in a virtuous cycle that benefits from long-term use. As a result, use of the product will reduce chemical run-off to streams, ponds and rivers, an objective with significant long term benefits to the environment.
The products have a long shelf life compared to many other organic fertilizers. In a number of lab and field trials, the liquid product has been shown to be effective in mitigating powdery mildew, a leaf fungus that effects most plants and grasses and restricts the flow of water and nutrients to the plant. The Company's fertilizer products can be used on a stand-alone basis or in combination with more traditional fertilizers and crop protection products. Converted Organics expects to benefit from increased regulatory focus on organic waste processing and on environmentally-friendly growing practices.
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 described in "Risk Factors" in the prospectus, not all of which are known to the Company. 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.
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SOURCE: Converted Organics Inc.
For Converted Organics Inc. PR Financial Marketing Jim Blackman, 713-256-0369 jim@prfmonline.com
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