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Converted Organics Completes Shipment of 132 Tons of Organic Fertilizer to Major Retail Distribution Chain

Business Wire
March 16, 2009


Converted Organics Inc. announced today that the Company has completed shipping an order for
132 tons of its organic Lawn and Turf fertilizer to a major retail
distribution chain for the spring 2009 growing season. The last of
14 product shipments was dispatched from the Company’s Woodbridge,
New Jersey manufacturing facility on Thursday, March 12th.

“Consumers now have direct access to Converted Organics’ Lawn and
Turf fertilizer, and we are confident that our organic product will
be incorporated into many lawn care management programs this
spring,” said Edward J. Gildea, President of Converted Organics. “An
order of this size from a major retail distribution chain is a
milestone for Converted Organics, and we are very pleased that
recent improvements in the efficiency and productivity of our
Woodbridge manufacturing facility enabled us to fulfill this order
in a timely fashion.”

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 improve the efficiency and productivity of the Woodbridge
plant. 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.

 

 

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