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SMALL BUSINESS
The Home Depot® Re-Orders Converted Organics’ Products for 2010 Season
Business Wire
Converted Organics Inc. (NASDAQ:COIN) announced today that the Company
shipped a re-order for its organic Lawn & Turf fertilizer to The Home
Depot® (NYSE: HD), the world's largest home improvement specialty
retailer, in preparation for the upcoming 2010 growing season. The Home
Depot® placed its initial order for Converted Organics’ all-natural Lawn
& Turf fertilizer in December, 2008 through distributor New England
Pottery, an affiliate of Central Garden & Pet. Last year, Converted
Organics’ Lawn & Turf fertilizer was carried in 94 The Home Depot®
stores throughout Massachusetts, Connecticut, Rhode Island and Long
Island, New York.
“A repeat customer, particularly one as well-regarded as The Home
Depot®, is one of the most valuable indicators of the quality and
effectiveness of our products. We are very pleased that The Home Depot®
and its customers had positive experiences with Converted Organics’ Lawn
& Turf fertilizer,” said Edward J. Gildea., President of Converted
Organics. “We completed the shipment to The Home Depot® this week, and
are prepared to fill re-orders from other existing customers, as well as
initial orders from new customers for the 2010 season.”
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
Copyright Business Wire 2010
2010-02-09 09:45:00
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