Converted Organics Ships Initial Order of an Anticipated 400,000 Gallons of Liquid Fertilizers to Distributor in Idaho
Distributor Anticipates Order of 400,000 Gallons, 4x Greater Than Last Year, Citing Product's Efficacy and Profitability
BOSTON, April 13, 2011 (GLOBE NEWSWIRE) -- Converted Organics Inc. (Nasdaq:COIN) announced today that it has received a preliminary order of up to 400,000 gallons of its all-natural, organic liquid fertilizer products (Converted Organics LC 1-1-1, and Converted Organics GP 3-2-1) from Biorem Inc. "By the end of this week we will have shipped 50,000 gallons, and another 40,000 gallons are scheduled to ship next week. The remainder of the order will follow in weekly shipments throughout the growing season," says Ed Gildea, President and CEO of Converted Organics. Gildea continues, "Our biggest push, and greatest success, has been in conventional crops." The fertilizers are to
be applied to various conventional and organic crops throughout Idaho and Utah, including potatoes, sugar beets, alfalfa, wheat and barley.
Trials conducted using the GP 3-2-1 fertilizer on wheat fields at Ricks Farm in Rexburg, Idaho showed a 2.5% increase in protein content. Grant Ricks from Ricks Farm explains, "These trial results are extremely positive, as they show a significant increase in the protein content of the plant. This ultimately displays an improved nutritional quality of the grain and translates into a higher value crop for growers."
Converted Organics LC 1-1-1 and Converted Organics GP 3-2-1 organic liquid fertilizers are specially formulated to provide growers with a high-quality fully pasteurized liquid fertilizer product that can stimulate microbial activity within the soil and is suitable for use on a variety of crops and soils. Both products are high in total organic acids as well as other plant health components. The product's liquid form helps distribute nutrients to plants through the soil to maximize growth potential and aid in disease suppression.
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).
The Converted Organics Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7431
Biorem Inc. is dedicated to building a better, more environmentally-sound planet, and to create a manufacturing, service and sales company which networks with like-minded people, in order to seek out all opportunities to beautify the earth. To do this, Biorem actively takes part in cleaning up environmentally sensitive sites, and using these resources to build better fertilizer, which in turn helps to renew the ground with eco-friendly soil, helping to promote and sustain a healthier growth pattern for the earth. For more information, visit Biorem at http://www.pharmgrade.net.
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: George McIntyre, 212-732-4300
Converted Organics Inc.
Source: Converted Organics Inc.
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