BOSTON, Aug. 17, 2010 (GLOBE NEWSWIRE) -- Converted Organics Inc. (Nasdaq:COIN) today announced that the company will be an Exhibitor at the third annual Boston GreenFest 2010, the region's largest multicultural environmental festival. From August 19-21, Boston GreenFest will turn Boston's City Hall into a celebration of the ways in which Bostonians can create a better world by greening their lives and communities. Converted Organics' products will be on display at the Green Roofs, Green Cities tent.
In addition to its exhibit, representatives from Converted Organics will speak at the festival about food waste recycling, organic lawn and garden care, as well as introduce TerraSphere's vertical farming technology during a presentation on Friday, August 20 at 10:30 a.m. EDT.
"As a Boston clean-tech company, Converted Organics is thrilled to support local environmental initiatives and companies, such as the Boston GreenFest and the Foundation for a Green Future, which help our communities lead healthier, more sustainable lives," said David Flannery, Converted Organics' VP of Marketing. "Our participation in this event is a great opportunity to educate a large and diverse population about the benefits of organic lawn and garden care as well as introduce TerraSphere's vertical farming technology to the local public."
On July 7, 2010, Converted Organics Inc. entered into an agreement to acquire TerraSphere. This acquisition is expected to close in September 2010, pending approval of Converted Organics' shareholders. The transaction is expected to strengthen the green-business portfolio and collective market-strength of Converted Organics.
About Converted Organics Inc.
Converted Organics Inc. (Nasdaq:COIN) (www.convertedorganics.com) 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.
The Converted Organics Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7431
About Foundation for a Green Future, Inc.
Foundation for a Green Future, Inc. is a Boston-based 501(c)(3) nonprofit dedicated to providing environmentally focused programs to the Greater Boston community. The organization provides green jobs training and works with local schools, community centers, and neighborhood organizations to educate young and old about green technologies, and designs interactive curricula to suit their needs. Annually, the Foundation for a Green Future organizes Boston GreenFest, the region's largest multicultural environmental festival, celebrating the many ways to create a better world by greening our lives and our communities.
About TerraSphere Systems, LLC
TerraSphere Systems (www.terraspheresystems.com) is dedicated to building highly efficient systems for growing organic fruits and vegetables in a controlled indoor environment. TerraSphere's clean technology helps to promote the sustainable consumption of natural resources by accelerating plant production and maximizing crop yields, while improving environmental footprints through the reduction of carbon emissions and fuel use associated with traditional crop production and distribution. TerraSphere's unique, environmentally and socially-responsible business model helps to facilitate job creation and diverse, community-based workforces. TerraSphere believes its technology can potentially revolutionize access to organic produce for both remote and urban communities, alleviate land management issues for agricultural producers, and ease hunger crises for the world's growing population.
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