Converted Organics Receives Re-Order From Matosantos Commercial Corporation, Company’s Distributor To Walmart And Other Retailers For Its Organic Fertilizer
Converted Organics Inc. (NASDAQ: COIN) announced today that the Company received a re-order for its all-natural, organic fertilizers from Matosantos Commercial Corporation, the Company's exclusive distributor to Walmart (NYSE:WMT) in the Caribbean, which in January 2010 placed its initial order for Converted Organics' Lawn & Turf(TM) 8-1-4, Flower & Garden(TM) 4-1-8 and Indoor & Container(TM) 4-1-8 organic fertilizer products.
“Due to its island ecology, Puerto Rico is sensitive to the use of petrochemicals and we are pleased about obtaining the quick re-order of our product, which is testament to how well-received our organic fertilizers are within the area. It’s an important market for us, as its tropical setting fosters demand for our products year round, and we look forward to continually being able to supply the needs of our customers there with our cost-efficient products and solutions,” said Edward J. Gildea, President of Converted Organics.
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.
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