Boston, Mass.-Converted Organics Inc. has executed an option to lease with the Rhode Island Resource Recovery Corp. (RIRRC) to build a state-of-the-art organic fertilizer facility in Johnston, R.I. 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, N.J. 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, which is anticipated to begin operations in 2009. Converted Organics claims the new facility will increase the recycling rate within Rhode Island while also extending the life of the landfill by eliminating 10-15 percent of the waste currently being deposited there, and will aid 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,” reported Ed Gildea, president, chairman, and CEO. “The option to lease the Rhode Island property for development of Converted Organics’ second facility represents a significant milestone for our company. Converted Organics is now exceptionally well-positioned at the crossroads 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.”
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