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BOSTON, Dec 17, 2009 (BUSINESS WIRE) -- Converted Organics Inc. (NASDAQ:COIN) announced today that independent analytical tests have reconfirmed the exceptional nutritional value of its Lawn & Turf(TM) 8-1-4 organic granular fertilizer. Results of testing conducted by Midwest Laboratories, Inc. of Omaha, Nebraska indicate that Lawn & Turf(TM) 8-1-4 fertilizer efficiently and effectively provides nutrients to the soil to improve plant growth.
"These results reinforce the previously-stated benefits of Converted Organics' Lawn & Turf(TM) 8-1-4 fertilizer. Converted Organics' proprietary High Temperature Liquid Composting (HTLC) method of processing food waste results in a unique, solid organic fertilizer that rapidly stimulates soil microbial activities to quickly release mineral nutrients, as well as biologically active compounds, which enhance plant growth and development. This also conditions soils for increased nutrient and water holding capabilities," said William A. Torello, Ph.D., Director of Product Research and Development for Converted Organics. "As our Lawn & Turf(TM) 8-1-4 customers have learned, high levels of polyphenols, fatty acids, anti-oxidants and natural plant hormones contribute to the proven strong disease and environmental stress suppression characteristics of our product."
Specific test results found that the NPK (nitrogen/phosphorus/potassium) content for Lawn & Turf(TM) 8-1-4 was accurate, and that the product's overall micronutrient package was greater than expected for tested essential micronutrients. Lawn & Turf(TM) 8-1-4's naturally-occurring iron content was found to be 1.3 percent, versus the two percent content added to many other fertilizer products. The product's carbon-to-nitrogen ratio was extremely low (5.1/1 versus the 10-20/1 ratio deemed as desirable for most organic fertilizers), thereby accounting for its rapid and effective reaction. Additionally, Lawn & Turf(TM) 8-1-4's naturally-occurring humic acid content, which greatly increases nutrient and water holding capacities as well as enhances soil microbial activities and the overall physical condition of the soil, was reported at 16.5 percent. Humic acid must be added to most other organic fertilizers during the production process. Finally, tests results showed that Lawn & Turf(TM) 8-1-4's organic matter content, which enables a fertilizer to improve the physical properties of soil by providing an energy source for beneficial organisms and enhancing the reservoir of soil nutrients, was 77 percent. As an industry rule, having greater than 20 percent organic matter in an organic fertilizer is considered desirable.
About Converted Organics Inc.
Converted Organics (NASDAQ:COIN, www.convertedorganics.com), based in Boston, MA, is dedicated to producing high-quality, all-natural, organic soil amendment and fertilizer products through food waste recycling. The Company uses its proprietary High Temperature Liquid Composting (HTLC) system, a proven, state-of-the-art microbial digestion technology, to process various biodegradable food wastes into dry pellet and liquid concentrate organic fertilizers that help grow healthier food and improve environmental quality. Converted Organics sells and distributes its environmentally-friendly fertilizer products in the retail, professional turf management, and agribusiness markets.
Converted Organics' flagship manufacturing facility is located in Woodbridge, New Jersey. A second manufacturing site is located in Gonzales, California. 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 percent, 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. In a number of lab and field trials, Converted Organics' 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. Increased use of nitrogen in commercial agriculture and turf grass applications, such as on 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 reduces chemical run-off to streams, ponds and rivers, an objective with significant long-term benefits to the environment.
Converted Organics' products have a long shelf life compared to many other organic fertilizers. 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. Forward-looking statements include the ongoing customer demand for the Company's products and the Company's ability to continue to become more efficient in its operations.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-K, 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.
PR Financial Marketing
for Converted Organics Inc.
Investor Contact:
Jim Blackman, 713-256-0369
jim@prfmonline.com
or
Sterling Communications
Public Relations Contact:
Pat Fiaschetti, 908-996-7945
sterling.pf@att.net
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