June 24, 2008
Converted Organics Appoints Dean Ulrich General Manager of Woodbridge, N.J. Facility
PR Financial Marketing
Jim Blackman, 713-256-0369
Converted Organics Inc. (NASDAQ:COIN) announced today that it has appointed Dean Ulrich as the General Manager of the Company's new flagship organic soil amendment and fertilizer processing facility in Woodbridge, New Jersey.
Mr. Ulrich, age 43, brings almost two decades of transportation and waste management industry expertise to Converted Organics. Most recently, Mr. Ulrich was the General Manager of EnviroSolutions, Inc. of Newark, N.J., where he held full profit and loss responsibility for a site that generated $50 million in annual revenue and included 50 employees. In this capacity, Mr. Ulrich also negotiated union contracts, ensured compliance with Department of Environmental Protection regulations, and developed annual budgets. Prior to joining EnviroSolutions, he was Region Operations Manager for Casella Waste Systems, where he oversaw operations for 12 hauling companies and improved company profits through re-routes and equipment procurement. Mr. Ulrich's background also includes responsibility for mergers and acquisitions, municipal contract negotiations, and management of waste hauling, transfer, and landfill operations for leading waste management companies such as Allied Waste, BFI, USA Waste, and Waste Management.
"Dean joins Converted Organics at an exciting and important juncture as we prepare to commence production at our state-of-the art manufacturing facility in Woodbridge," said John P. Weigold, Vice President of Development and Operations for Converted Organics. "Dean's knowledge of and experience in the waste management and transportation industries, coupled with his expertise in all aspects of facility operations and management, make him ideally suited to lead day-to-day operations at the Woodbridge site. We are confident that Dean will contribute significantly to the continued success of Converted Organics."
"As a veteran of the waste management, recycling and transportation industries, I was attracted to Converted Organics' cutting-edge technology, unique product line, commitment to manufacturing excellence, and environmental responsibility," said Ulrich. "I am very pleased to join an organization that is so well- positioned to meet the ever-expanding needs of its customers while maximizing its growth potential."
About Converted Organics Inc.
Converted Organics (NASDAQ:COIN), based in Boston, MA, is dedicated to producing valuable all-natural, organic soil amendment or fertilizer products through food waste recycling. The company uses proven, state-of-the-art technologies to create a product that helps grow healthier food and improve environmental quality. Converted Organics plans to sell and distribute its environmentally- friendly fertilizer products in the retail, turf management, and agribusiness markets.
Converted Organics' fertilizer products will be produced in both a dry pellet and liquid concentrate. 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%, 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. Increased use of nitrogen in commercial agriculture and turf grass applications, such as 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 will reduce chemical run-off to streams, ponds and rivers, an objective with significant long-term benefits to the environment.
The products have a long shelf life compared to many other organic fertilizers. In a number of lab and field trials, the liquid product has been shown to be effective in mitigating powdery mildew, a leaf fungus that effects most plants and grasses and restricts the flow of water and nutrients to the plant. 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.
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