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BOSTON, Dec 10, 2008 (BUSINESS WIRE) --
Converted Organics Inc. (NASDAQ:COIN) announced today that results from warm season turf trials conducted with its Turf-Blend(TM) 6-0-0, Biolizer(R) GP, and Biolizer(R) 5-2-1 products at the University of Florida, Ft. Lauderdale indicate that the Company's liquid organic fertilizers yield results as quickly and effectively as standard soluble urea. The trials were conducted on ultradwarf bermudagrass, the turf most commonly used for golf course greens, and St. Augustinegrass, the predominant home lawn turf in south Florida.
"These trial results are very significant because they demonstrate that Converted Organics' liquid organic fertilizers can be used as effectively as standard inorganic urea, which is a first for a liquid organic fertilizer product," said William A. Torello, Ph.D., Director of Product Research and Development for Converted Organics. "We anticipate that golf course superintendents and lawn care professionals will find these trial results very compelling, since they indicate that Converted Organics' Turf-Blend(TM) 6-0-0, Biolizer(R) GP and Biolizer(R) 5-2-1 can replace urea in terms of speed-of-action, while also increasing soil health and reducing plant disease."
The design of the turf trial, which was conducted from July through November, 2008, required the ultradwarf bermudagrass to be mown daily at one-eighth inch and the St. Augustinegrass to be mown weekly at three inches. All fertilizers were applied monthly at the normal rates of either 0.5 or 1.0 lb. of nitrogen per 1000 square feet.
"This study indicates that Converted Organics' Biolizer(R) and Biolizer(R) GP products can and should be used in all facets of the green industry. In particular, these products represent cost-effective organic liquid fertilizer options for the lawn care industry, which is a significant market opportunity for Converted Organics," added Dr. Torello. "While golf course professionals will still be attracted to our Turf-Blend(TM) 6-0-0 for greens, tees and approaches due to the higher lysine analysis, they can now also comfortably opt for our Biolizer(R) GP fertilizer for larger fairway and rough areas."
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 affects 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 the "Risk Factors" section in the Company's most recently filed annual report on Form 10-KSB, as updated in the Company's quarterly reports on Form 10-Q filed since the annual report, 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.
COIN-G
SOURCE: Converted Organics Inc.
For Converted Organics Inc.
Investor Contact:
PR Financial Marketing
Jim Blackman, 713-256-0369
jim@prfmonline.com
or
Public Relations Contact:
Sterling Communications
Pat Fiaschetti, 908-996-7945
sterling.pf@att.net
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