Published:
Converted Organics Expands Presence in U.S. Golf Course Market
BOSTON - (BUSINESS WIRE) - Converted Organics Inc. (NASDAQ:COIN) announced today that its
all-natural organic fertilizer products are be utilized or tested at 11
U.S. golf courses and country clubs, including Bethpage Black, site of
the June 18-22, 2009 U.S. Open PGA Championship.
A trial is currently underway at Bethpage Black to measure the efficacy
of Converted Organics LC 1-1-1 and Converted Organics' Turf-Blend
6-0-0 in relation to environmental stress and disease suppression. The
products are also being used or tested at the following ten sites: Brae
Burn Country Club (West Newton, MA), Boston Golf Club (Hingham, MA),
Eastward Ho Country Club (Chatham, MA), Country Club of New Bedford (New
Bedford, MA), Cape Cod Country Club (Falmouth, MA), Hyannisport Country
Club (Hyannisport, MA), Bay Pointe Country Club (Onset, MA), Mink
Meadows Golf Club (Martha's Vineyard, MA), Newport Country Club
(Newport, RI), and Green Valley Country Club (Portsmouth, RI).
"Converted Organics penetration of the U.S. golf course market continues
to expand. We have formed promising relationships with these well-known
courses and are confident that utilization and testing of our products
at the world-renowned Bethpage Black, as well as other prominent
courses, will lead to long-term, mutually-beneficial associations," said
Edward J. Gildea, President of Converted Organics. "There are
approximately 16,000 golf courses in the United States, so this market
represents an important component of Converted Organics' continued
growth and development."
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, and a third is under development in Johnston,
Rhode Island. 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 Company's ability to continue
full operations at its Woodbridge facility and to become more efficient
in its operations, the Company's ability to continue to sell its product
to other customers, and the Company's ability to raise financing on a
timely basis, if at all. 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
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
Copyright © 2009, Business Wire, Inc., All rights reserved.
Copyright © 2009, NewsBlaze,
Daily News
Tags: Agriculture, Business wire, massachusetts, rhode isl and , Sports, manufacturing, Environment
_ _