BOSTON, May 13, 2008 (BUSINESS WIRE) -- Converted Organics Inc. (NASDAQ:COIN) announced today that, in order to meet growing market demand for its all-natural, organic fertilizer and soil amendment products, the company has appointed two additional people to its sales team. The additions bring the total number of Converted Organics sales representatives to six.
Joseph Haynes, a recent graduate of Brandeis University, works out of Converted Organics' Boston headquarters and augments the company's presence in the eastern sales division. Joe has responsibility for all classes of trade customers, and has had an immediate impact working with professional turf distributors, municipalities, golf course superintendents, and retailers. Joe is also involved in planning promotional activities, trade shows, and advertising. Joe reports to Richard Aleo, Executive Vice President of Marketing for Converted Organics.
Adam Cholakain, a 10-year veteran of the agriculture industry, works in the western division of the company's sales force, under the supervision of Mike Gursky, Converted Organics' Western Divisional Sales Manager. Adam is focusing on Converted Organics' rapidly growing agriculture business. Adam is a graduate of Fresno State University, with a B.S. in Plant Science, and is a licensed Pest Control Advisor. Adam is calling on distributors and growers in the southwestern United States.
"Industry interest in and demand for Converted Organics' organic fertilizer products has been fueled by heightened awareness of agriculture-related environmental concerns, increased use of organic fertilizers in both organic and conventional farming, and consumers' overall desire for healthier and more environmentally-compatible living," said Richard Aleo. "We are very pleased to have Joe and Adam, two very well-qualified sales professionals, join the Converted Organics team to help us meet our customers' needs."
About Converted Organics Inc.
Converted Organics (NASDAQ:COIN), based in Boston, MA, is 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 of 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 including forward-looking statements relating to the preparation, filing and effectiveness of the Post-Effective Amendment to the Registration Statement that facilitates the exercise by the public of the Class A Warrants and the Class B Warrants. Those forward-looking statements are subject to risks and uncertainties, and 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.
SOURCE: Converted Organics Inc.
Converted Organics Inc. PR Financial Marketing Jim Blackman, 713-256-0369 firstname.lastname@example.org
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