2008 - Momentum Play: Converted Organics Inc. - 500 Beiträge pro Seite
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Converted Organics Inc.
Corporate Overview:
Converted Organics Inc. (NASDAQ: COIN), based in Boston, MA, is a company dedicated to producing a valuable all-natural, organic soil amendment or fertilizer product 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 will sell and distribute its environmentally-friendly fertilizer or biostimulant in the retail, turf management and agribusiness markets.
We have received the permits needed to build our first facility in Woodbridge, NJ. This facility is licensed to process 500 tons of organic food waste per day. When operational, that translates to 150,000 tons of waste diverted from landfills each year. That means a reduction in green house gasses and a reduction in the need for new landfill capacity.
The Woodbridge facility will be completely under roof with all ambient and process air filtered or scrubbed using the best equipment available. This equipment is rated 99.7% effective is eliminating harmful or obnoxious odors. Combined with a small footprint, our licensed technology is appropriate for any light industrial location.
Our Woodbridge facility will produce both a dry pellet or round bee-bee sized prill and liquid concentrate. The products have a long shelf life compared to many other organic fertilizers. They 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.
In a number of laboratory and field trials, the 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. Our products can be used on a standalone basis or in combination with more traditional fertilizers and crop protection products.
Waste recycling, GHG reduction, safe products for our lawns, gardens and food growers; as many of our shareholders have heard us say, we intend to do well by doing good.
http://convertedorganics.com/
Corporate Overview:
Converted Organics Inc. (NASDAQ: COIN), based in Boston, MA, is a company dedicated to producing a valuable all-natural, organic soil amendment or fertilizer product 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 will sell and distribute its environmentally-friendly fertilizer or biostimulant in the retail, turf management and agribusiness markets.
We have received the permits needed to build our first facility in Woodbridge, NJ. This facility is licensed to process 500 tons of organic food waste per day. When operational, that translates to 150,000 tons of waste diverted from landfills each year. That means a reduction in green house gasses and a reduction in the need for new landfill capacity.
The Woodbridge facility will be completely under roof with all ambient and process air filtered or scrubbed using the best equipment available. This equipment is rated 99.7% effective is eliminating harmful or obnoxious odors. Combined with a small footprint, our licensed technology is appropriate for any light industrial location.
Our Woodbridge facility will produce both a dry pellet or round bee-bee sized prill and liquid concentrate. The products have a long shelf life compared to many other organic fertilizers. They 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.
In a number of laboratory and field trials, the 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. Our products can be used on a standalone basis or in combination with more traditional fertilizers and crop protection products.
Waste recycling, GHG reduction, safe products for our lawns, gardens and food growers; as many of our shareholders have heard us say, we intend to do well by doing good.
http://convertedorganics.com/
Antwort auf Beitrag Nr.: 32.978.441 von benefactor am 08.01.08 12:57:34Wem COIN zu langweilig ist, kann sich ja an den dazugehörigen Warrants versuchen.
So wie es aussieht, sehen wir nächste Woche locker die $10 und vielleicht sogar einiges mehr.
Converted Organics, Inc. Secures Rhode Island Site for Second Organic Fertilizer Facility
Tuesday January 15, 6:00 am ET
New Facility Will Significantly Increase Company's Ability to Meet Growing Product Demand
BOSTON--(BUSINESS WIRE)--Converted Organics Inc. (NASDAQ:COIN - News) announced today that they executed an Option to Lease with the Rhode Island Resource Recovery Corporation (RIRRC) to build a state-of-the-art organic fertilizer facility in Johnston, RI. The Lease Option represents the second such contract secured by Converted Organics in two years; the company’s first facility is under construction in Woodbridge, NJ.
“The option to lease the Rhode Island property for development of Converted Organics’ second facility represents a significant milestone for our company,” said Ed Gildea, President, Chairmen, and CEO of Converted Organics, Inc. “Converted Organics is now exceptionally well-positioned at the cross-roads of three significant global economic trends: the explosive growth in organic farming, the critical need for sustainable solid waste recycling solutions, and the overwhelming demand for green technology investment opportunities.”
Converted Organics will construct a 40,000 square foot facility for the processing of organic materials, such as food waste, into liquid and solid fertilizer products for the retail, turf management, and agribusiness markets. At full capacity, the facility will process up to 200 tons per day, or 60,000 tons annually. The facility will be located on the grounds of RIRRC's property, which also houses the state’s only active municipal landfill. Material that would otherwise be deposited in the landfill will be diverted to Converted Organics’ new facility. Converted Organics anticipates that the facility will begin operations in 2009.
The new facility will increase the recycling rate within the State of Rhode Island, while also extending the life of the landfill by eliminating 10-15 percent of the waste currently being deposited there, and will aide in preventing associated increases in greenhouse gas emissions.
“This facility represents an important partnership between Converted Organics and RIRRC, and is the first of several municipal development projects our company has underway,” said Mr. Gildea. “We are excited that our partnership with RIRRC will not only will help Converted Organics satisfy the significant demand for our products, but also bring multiple new jobs to the Johnston community.”
About Rhode Island Resource Recovery Corporation
The Rhode Island Resource Recovery Corporation is the state environmental agency dedicated to providing the public with environmentally sound programs and facilities to manage solid waste. The agency funds and manages the state's recycling program, and owns and operates the Central Landfill and Materials Recycling Facility in Johnston, Rhode Island.
Created by the Rhode Island General Assembly in 1974 as the Rhode Island Solid Waste Management Corporation, the corporation changed its name in August, 1996. Although not a department of the state government, RIRRC is a public corporation and a component of the State of Rhode Island for financial reporting purposes. To be financially self-sufficient, the agency earns revenue through the sale of recyclable products, methane gas royalties and fees for its services.
RIRRC, in partnership with grocery stores in R.I., has developed a unified, free recycling program for plastic bags and plastic film. The stores, from large national chains to neighborhood markets, are members of the Rhode Island Food Dealers Association, which endorsed the recycling effort and promoted participation. Known as “ReStore,” the program offers Rhode Islanders the opportunity to recycle their plastic film bags. Collection barrels are located at participating grocery stores. Since all plastic bags are eligible for recycling, it doesn't matter what name-brand bags are deposited in the barrels. Consumers can recycle all types of plastic film including plastic newspaper sleeves, dry cleaner bags, and produce baggies.
About Converted Organics Inc.
Converted Organics (NASDAQ: COIN - News), based in Boston, MA, is a development stage company 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 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.
Tuesday January 15, 6:00 am ET
New Facility Will Significantly Increase Company's Ability to Meet Growing Product Demand
BOSTON--(BUSINESS WIRE)--Converted Organics Inc. (NASDAQ:COIN - News) announced today that they executed an Option to Lease with the Rhode Island Resource Recovery Corporation (RIRRC) to build a state-of-the-art organic fertilizer facility in Johnston, RI. The Lease Option represents the second such contract secured by Converted Organics in two years; the company’s first facility is under construction in Woodbridge, NJ.
“The option to lease the Rhode Island property for development of Converted Organics’ second facility represents a significant milestone for our company,” said Ed Gildea, President, Chairmen, and CEO of Converted Organics, Inc. “Converted Organics is now exceptionally well-positioned at the cross-roads of three significant global economic trends: the explosive growth in organic farming, the critical need for sustainable solid waste recycling solutions, and the overwhelming demand for green technology investment opportunities.”
Converted Organics will construct a 40,000 square foot facility for the processing of organic materials, such as food waste, into liquid and solid fertilizer products for the retail, turf management, and agribusiness markets. At full capacity, the facility will process up to 200 tons per day, or 60,000 tons annually. The facility will be located on the grounds of RIRRC's property, which also houses the state’s only active municipal landfill. Material that would otherwise be deposited in the landfill will be diverted to Converted Organics’ new facility. Converted Organics anticipates that the facility will begin operations in 2009.
The new facility will increase the recycling rate within the State of Rhode Island, while also extending the life of the landfill by eliminating 10-15 percent of the waste currently being deposited there, and will aide in preventing associated increases in greenhouse gas emissions.
“This facility represents an important partnership between Converted Organics and RIRRC, and is the first of several municipal development projects our company has underway,” said Mr. Gildea. “We are excited that our partnership with RIRRC will not only will help Converted Organics satisfy the significant demand for our products, but also bring multiple new jobs to the Johnston community.”
About Rhode Island Resource Recovery Corporation
The Rhode Island Resource Recovery Corporation is the state environmental agency dedicated to providing the public with environmentally sound programs and facilities to manage solid waste. The agency funds and manages the state's recycling program, and owns and operates the Central Landfill and Materials Recycling Facility in Johnston, Rhode Island.
Created by the Rhode Island General Assembly in 1974 as the Rhode Island Solid Waste Management Corporation, the corporation changed its name in August, 1996. Although not a department of the state government, RIRRC is a public corporation and a component of the State of Rhode Island for financial reporting purposes. To be financially self-sufficient, the agency earns revenue through the sale of recyclable products, methane gas royalties and fees for its services.
RIRRC, in partnership with grocery stores in R.I., has developed a unified, free recycling program for plastic bags and plastic film. The stores, from large national chains to neighborhood markets, are members of the Rhode Island Food Dealers Association, which endorsed the recycling effort and promoted participation. Known as “ReStore,” the program offers Rhode Islanders the opportunity to recycle their plastic film bags. Collection barrels are located at participating grocery stores. Since all plastic bags are eligible for recycling, it doesn't matter what name-brand bags are deposited in the barrels. Consumers can recycle all types of plastic film including plastic newspaper sleeves, dry cleaner bags, and produce baggies.
About Converted Organics Inc.
Converted Organics (NASDAQ: COIN - News), based in Boston, MA, is a development stage company 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 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.
Converted Organics Inc. Exempt from New Tax on New Jersey Solid Waste Facilities
Thursday January 17, 6:00 am ET
BOSTON--(BUSINESS WIRE)--Converted Organics Inc. (NASDAQ:COIN - News) announced today that, as a recycling facility, it is exempt from the new tax that will be levied on the majority of solid waste facilities in New Jersey as part of the Recycling Enhancement Act signed into law on Monday, January 14 by Governor Jon Corzine.
The Recycling Enhancement Act levies upon the operator of most solid waste facilities in the state a recycling tax of three dollars per ton on all solid waste accepted for disposal or transfer. According to recent news reports, the Recycling Enhancement Act’s three dollar per ton tax would raise $34 million annually for municipal and county recycling programs in the state of New Jersey. As a recycling facility, the Converted Organics Inc. site under construction in Woodbridge, NJ will not be subject to this new law.
“Implementation of the Recycling Enhancement Act is positive news for Converted Organics and, we believe, has the potential to enhance our ability to attract customers,” said Edward J. Gildea, President of Converted Organics Inc. “This new law provides additional motivation for waste haulers to contract with Converted Organics to recycle food waste that traditionally winds up in solid waste facilities.”
The Converted Organics Inc. recycling facility that is under construction in Woodbridge, NJ has been approved for inclusion in the Middlesex County New Jersey Solid Waste Management Plan and has been permitted as a Class C Recycling Facility. When fully operational, the Woodbridge facility is expected to process approximately 78,000 tons of organic food waste, which will be diverted from landfills, and produce approximately 7,500 tons of dry fertilizer product and 6,700 tons of liquid fertilizer annually.
Thursday January 17, 6:00 am ET
BOSTON--(BUSINESS WIRE)--Converted Organics Inc. (NASDAQ:COIN - News) announced today that, as a recycling facility, it is exempt from the new tax that will be levied on the majority of solid waste facilities in New Jersey as part of the Recycling Enhancement Act signed into law on Monday, January 14 by Governor Jon Corzine.
The Recycling Enhancement Act levies upon the operator of most solid waste facilities in the state a recycling tax of three dollars per ton on all solid waste accepted for disposal or transfer. According to recent news reports, the Recycling Enhancement Act’s three dollar per ton tax would raise $34 million annually for municipal and county recycling programs in the state of New Jersey. As a recycling facility, the Converted Organics Inc. site under construction in Woodbridge, NJ will not be subject to this new law.
“Implementation of the Recycling Enhancement Act is positive news for Converted Organics and, we believe, has the potential to enhance our ability to attract customers,” said Edward J. Gildea, President of Converted Organics Inc. “This new law provides additional motivation for waste haulers to contract with Converted Organics to recycle food waste that traditionally winds up in solid waste facilities.”
The Converted Organics Inc. recycling facility that is under construction in Woodbridge, NJ has been approved for inclusion in the Middlesex County New Jersey Solid Waste Management Plan and has been permitted as a Class C Recycling Facility. When fully operational, the Woodbridge facility is expected to process approximately 78,000 tons of organic food waste, which will be diverted from landfills, and produce approximately 7,500 tons of dry fertilizer product and 6,700 tons of liquid fertilizer annually.
Trading Spotlight
Converted Organics' Post-Effective Amendment to Form SB-2 Registration Statement Declared Effective by SEC
Thursday January 24, 4:15 pm ET
Exercise of Class A and B Public Warrants for Common Stock Now Permissible
BOSTON--(BUSINESS WIRE)--Converted Organics Inc. (NASDAQ:COIN - News) today announced that the Post-Effective Amendment to the company’s SB-2 Registration Statement was declared effective by the Securities and Exchange Commission (SEC) on January 24, 2008. This declaration of effectiveness allows for the voluntary exercise of Converted Organics’ Class A public warrants (NASDAQ:COINW - News) and Class B public warrants (NASDAQ:COINZ - News). Holders of the Class A and Class B warrants issued as a component of the units sold by Converted Organics in the company’s initial public offering may purchase 1.21551 shares of common stock for each warrant exercised. The Class A and Class B warrants are exercisable at $8.25 per warrant and $11.00 per warrant, respectively, at any time on or before February 13, 2012.
“Converted Organics’ continued growth and our recently announced Option to Lease agreement with the Rhode Island Resource Recovery Corporation to build our second state-of-the-art organic fertilizer facility prompted us to file the registration statement for the voluntary exercise of Class A and Class B public warrants,” said Edward J. Gildea, President of Converted Organics Inc. “The capital received will support Converted Organics’ continued expansion and development, and allow us to maximize our market opportunities.”
Converted Organics also announced that the company has entered into an arrangement with Depository Trust Company, a limited purpose trust company, to make the exercise of Class A and Class B public warrants a simpler process for warrant holders.
“Converted Organics is committed to making the exercise process as smooth as possible for warrant holders,” said Mr. Gildea. “We encourage any holders who are interested in voluntarily exercising their Class A or B warrants to consult the detailed instructions on our website, www.convertedorganics.com.”
A total of 1,800,000 Class A public warrants and 1,800,000 Class B public warrants were issued in connection with Converted Organics Inc.’s initial public offering on February 12, 2007. If all of the Class A and Class B public warrants are exercised before February 13, 2012 at $8.25 per warrant and $11.00 per warrant, respectively, Converted Organics will receive proceeds of up to $34,600,000.
Converted Organics Inc. Acquires United Organic Products and Waste Recovery Industries
Friday January 25, 6:00 am ET
Unique Technology, State-of-the-Art Manufacturing Facility, Strong Customer Base Enhance Existing Operations and Growth Capabilities
BOSTON--(BUSINESS WIRE)--Converted Organics Inc. (NASDAQ:COIN - News) announced today that the company has acquired the assets of United Organic Products, LLC of Gonzales, CA, as well as the assets, including the intellectual property, of Waste Recovery Industries, LLC of Paso Robles, CA. These acquisitions make Converted Organics the exclusive owner of the proprietary technology and process known as the High Temperature Liquid Composting (HTLC) system, which processes various biodegradable waste products into liquid and solid organic-based fertilizer and feed products. Converted Organics also acquires a leading liquid fertilizer product line, as well as a state-of-the-art production facility that services a strong West Coast agribusiness customer base through established distribution channels.
“The acquisition of United Organic Products and Waste Recovery Industries’ assets catapults Converted Organics into a leadership position within the organic fertilizer industry and facilitates our immediate entry into the liquid fertilizer market,” said Edward J. Gildea, President of Converted Organics Inc. “The HTLC system, a proven, state-of-the-art microbial digestion technology that has been successfully producing high-quality commercial products for more than ten years, will become an integral part of our business and future growth.”
In addition to acquiring assets and technology, Converted Organics is proud to announce that the employees of United Organic Products, LLC will join Converted Organics, including Peter Townsley, Chief Executive of United Organic Products. Peter will join Converted Organics as Executive Vice President, Chief Technological Officer with responsibility for overseeing California operations, as well as product and process improvement and development.
United Organic Products is a well-established organic products company with over 20 years of industry expertise. The leadership of Waste Recovery Industries has almost 30 years of experience in the area of microbial digestion and organic waste disposal solutions. United Organic Products is affiliated with Waste Recovery Industries through a licensing agreement related to the HTLC system.
“These strategic acquisitions position Converted Organics for exceptional, continued growth,” said Mr. Gildea. “Combining United Organic Products’ operational experience and Waste Recovery Industries’ unique technological expertise with Converted Organics’ sales, marketing, and project development strengths will enable Converted Organics to enter new markets and provide robust support for growth of the company.”
These acquisitions are the most recent examples of Converted Organics’ development and growth. Last week, Converted Organics announced the execution of an Option to Lease agreement with the Rhode Island Resource Recovery Corporation (RIRRC) to build a state-of-the-art organic fertilizer facility in Johnston, RI. The agreement represents the second such contract secured by Converted Organics in two years; the company's first facility is under construction in Woodbridge, NJ.
Thursday January 24, 4:15 pm ET
Exercise of Class A and B Public Warrants for Common Stock Now Permissible
BOSTON--(BUSINESS WIRE)--Converted Organics Inc. (NASDAQ:COIN - News) today announced that the Post-Effective Amendment to the company’s SB-2 Registration Statement was declared effective by the Securities and Exchange Commission (SEC) on January 24, 2008. This declaration of effectiveness allows for the voluntary exercise of Converted Organics’ Class A public warrants (NASDAQ:COINW - News) and Class B public warrants (NASDAQ:COINZ - News). Holders of the Class A and Class B warrants issued as a component of the units sold by Converted Organics in the company’s initial public offering may purchase 1.21551 shares of common stock for each warrant exercised. The Class A and Class B warrants are exercisable at $8.25 per warrant and $11.00 per warrant, respectively, at any time on or before February 13, 2012.
“Converted Organics’ continued growth and our recently announced Option to Lease agreement with the Rhode Island Resource Recovery Corporation to build our second state-of-the-art organic fertilizer facility prompted us to file the registration statement for the voluntary exercise of Class A and Class B public warrants,” said Edward J. Gildea, President of Converted Organics Inc. “The capital received will support Converted Organics’ continued expansion and development, and allow us to maximize our market opportunities.”
Converted Organics also announced that the company has entered into an arrangement with Depository Trust Company, a limited purpose trust company, to make the exercise of Class A and Class B public warrants a simpler process for warrant holders.
“Converted Organics is committed to making the exercise process as smooth as possible for warrant holders,” said Mr. Gildea. “We encourage any holders who are interested in voluntarily exercising their Class A or B warrants to consult the detailed instructions on our website, www.convertedorganics.com.”
A total of 1,800,000 Class A public warrants and 1,800,000 Class B public warrants were issued in connection with Converted Organics Inc.’s initial public offering on February 12, 2007. If all of the Class A and Class B public warrants are exercised before February 13, 2012 at $8.25 per warrant and $11.00 per warrant, respectively, Converted Organics will receive proceeds of up to $34,600,000.
Converted Organics Inc. Acquires United Organic Products and Waste Recovery Industries
Friday January 25, 6:00 am ET
Unique Technology, State-of-the-Art Manufacturing Facility, Strong Customer Base Enhance Existing Operations and Growth Capabilities
BOSTON--(BUSINESS WIRE)--Converted Organics Inc. (NASDAQ:COIN - News) announced today that the company has acquired the assets of United Organic Products, LLC of Gonzales, CA, as well as the assets, including the intellectual property, of Waste Recovery Industries, LLC of Paso Robles, CA. These acquisitions make Converted Organics the exclusive owner of the proprietary technology and process known as the High Temperature Liquid Composting (HTLC) system, which processes various biodegradable waste products into liquid and solid organic-based fertilizer and feed products. Converted Organics also acquires a leading liquid fertilizer product line, as well as a state-of-the-art production facility that services a strong West Coast agribusiness customer base through established distribution channels.
“The acquisition of United Organic Products and Waste Recovery Industries’ assets catapults Converted Organics into a leadership position within the organic fertilizer industry and facilitates our immediate entry into the liquid fertilizer market,” said Edward J. Gildea, President of Converted Organics Inc. “The HTLC system, a proven, state-of-the-art microbial digestion technology that has been successfully producing high-quality commercial products for more than ten years, will become an integral part of our business and future growth.”
In addition to acquiring assets and technology, Converted Organics is proud to announce that the employees of United Organic Products, LLC will join Converted Organics, including Peter Townsley, Chief Executive of United Organic Products. Peter will join Converted Organics as Executive Vice President, Chief Technological Officer with responsibility for overseeing California operations, as well as product and process improvement and development.
United Organic Products is a well-established organic products company with over 20 years of industry expertise. The leadership of Waste Recovery Industries has almost 30 years of experience in the area of microbial digestion and organic waste disposal solutions. United Organic Products is affiliated with Waste Recovery Industries through a licensing agreement related to the HTLC system.
“These strategic acquisitions position Converted Organics for exceptional, continued growth,” said Mr. Gildea. “Combining United Organic Products’ operational experience and Waste Recovery Industries’ unique technological expertise with Converted Organics’ sales, marketing, and project development strengths will enable Converted Organics to enter new markets and provide robust support for growth of the company.”
These acquisitions are the most recent examples of Converted Organics’ development and growth. Last week, Converted Organics announced the execution of an Option to Lease agreement with the Rhode Island Resource Recovery Corporation (RIRRC) to build a state-of-the-art organic fertilizer facility in Johnston, RI. The agreement represents the second such contract secured by Converted Organics in two years; the company's first facility is under construction in Woodbridge, NJ.
Und jetzt noch ein Aubruch über die $14, dann haben wir weiteres Momentum.
Converted Organics Inc. Enters into Strategic Agreement with RNK Capital to Sell Greenhouse Gas Emmission Reduction Credits
Tuesday February 26, 6:00 am ET
BOSTON--(BUSINESS WIRE)--Converted Organics Inc. (NASDAQ:COIN - News) announced today that the company has entered into a strategic agreement with affiliates of RNK Capital LLC (“RNK Capital”) to structure and manage commodity transactions in the global emissions trading markets. RNK Capital will work with Converted Organics to develop and implement emission reduction methodologies, including verification, certification and monitoring processes that are expected to generate tradable greenhouse gas emission reduction credits. RNK Capital is a leader in global environmental finance, and specializes in structured transactions for the global carbon and other environmental markets.
The carbon emissions trading market experienced significant growth over the past six years, having grown to an estimated value of just over $30 billion in 2006, according to the World Bank. Several international trading markets have developed to trade credits generated by projects that reduce the emissions of greenhouse gasses into the atmosphere, reflecting what is believed to be an increasing recognition of the threat posed by climate change.
“Converted Organics’ unique and proprietary technology, the High Temperature Liquid Composting (HTLC®) process, enables us to convert various biodegradable waste products, that would otherwise be deposited in landfills, into high-quality, organic-based fertilizer through an environmentally-friendly system,” said Edward J. Gildea, President of Converted Organics Inc. “Not only does this cutting-edge technology enable us to play an active role in reducing greenhouse gas emissions associated with landfill deposits, it also allows us to leverage this significant environmental benefit into a new revenue stream through the sale of surplus greenhouse gas emission trading credits.” RNK Capital will manage all sales of greenhouse gas emission reduction credits for Converted Organics as part of their agreement.
“We are pleased to have entered into a strategic agreement with Converted Organics, and feel that the company is well-positioned to leverage environmental commodities, such as greenhouse gas emission reduction credits, which are valuable currency on the global market,” said David Lee, RNK Capital.
About RNK Capital LLC:
Formed in February 2004, RNK Capital LLC is a leader in global environmental finance. RNK Capital invests in environmental assets by targeting international environmental and emissions markets as well as providing direct financing to projects that generate environmental market products and commodities. The firm is also a specialist in structured and managed transactions for the global carbon markets, and a leading investor in early stage environmental compliance projects. RNK Capital manages a portfolio of environmental products in the global carbon, North American criteria pollutant (SOx and NOx allowances), RECs, European ETS, and regional pollutants markets, as well as many other environmental attributes.
Tuesday February 26, 6:00 am ET
BOSTON--(BUSINESS WIRE)--Converted Organics Inc. (NASDAQ:COIN - News) announced today that the company has entered into a strategic agreement with affiliates of RNK Capital LLC (“RNK Capital”) to structure and manage commodity transactions in the global emissions trading markets. RNK Capital will work with Converted Organics to develop and implement emission reduction methodologies, including verification, certification and monitoring processes that are expected to generate tradable greenhouse gas emission reduction credits. RNK Capital is a leader in global environmental finance, and specializes in structured transactions for the global carbon and other environmental markets.
The carbon emissions trading market experienced significant growth over the past six years, having grown to an estimated value of just over $30 billion in 2006, according to the World Bank. Several international trading markets have developed to trade credits generated by projects that reduce the emissions of greenhouse gasses into the atmosphere, reflecting what is believed to be an increasing recognition of the threat posed by climate change.
“Converted Organics’ unique and proprietary technology, the High Temperature Liquid Composting (HTLC®) process, enables us to convert various biodegradable waste products, that would otherwise be deposited in landfills, into high-quality, organic-based fertilizer through an environmentally-friendly system,” said Edward J. Gildea, President of Converted Organics Inc. “Not only does this cutting-edge technology enable us to play an active role in reducing greenhouse gas emissions associated with landfill deposits, it also allows us to leverage this significant environmental benefit into a new revenue stream through the sale of surplus greenhouse gas emission trading credits.” RNK Capital will manage all sales of greenhouse gas emission reduction credits for Converted Organics as part of their agreement.
“We are pleased to have entered into a strategic agreement with Converted Organics, and feel that the company is well-positioned to leverage environmental commodities, such as greenhouse gas emission reduction credits, which are valuable currency on the global market,” said David Lee, RNK Capital.
About RNK Capital LLC:
Formed in February 2004, RNK Capital LLC is a leader in global environmental finance. RNK Capital invests in environmental assets by targeting international environmental and emissions markets as well as providing direct financing to projects that generate environmental market products and commodities. The firm is also a specialist in structured and managed transactions for the global carbon markets, and a leading investor in early stage environmental compliance projects. RNK Capital manages a portfolio of environmental products in the global carbon, North American criteria pollutant (SOx and NOx allowances), RECs, European ETS, and regional pollutants markets, as well as many other environmental attributes.
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