Converted Organics Inc. (NASDAQ:COIN)
announced today that its Gonzales, California manufacturing facility
produced and sold 64 percent more liquid organic fertilizer during the
first six months of 2009 than during the same period in 2008. A total of
839,000 gallons were manufactured and shipped between January and June
of this year, compared to 510,000 gallons during the first half of last
year.
The Gonzales facility also posted second quarter 2009 liquid organic
fertilizer production and sales that were 93 percent ahead of production
and sales for the same period last year (640,000 gallons versus 331,000
gallons). Additionally, first quarter 2009 liquid organic fertilizer
production and sales at Gonzales increased 11 percent over production
and sales for the first quarter of 2008 (199,000 gallons compared to
179,000 gallons).
“This year’s significant increase in production and sales at Converted
Organics’ Gonzales plant reflects our ability to meet growing customer
demand for our liquid organic fertilizer products,” said Edward J.
Gildea, President of Converted Organics. “We are pleased that both
certified organic and conventional growers are increasingly relying on
Converted Organics’ liquid fertilizers, and we remain focused on
continually expanding our market opportunities.”
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.
