Converted Organics getting into farming

Boston, Mass.-Converted Organics Inc., which uses a proprietary thermal process to produce organic fertilizer from food wastes, has disclosed plans to acquire an 856-acre Colorado farm that will produce an immediate income and at the same time provide a test-bed for improving organic farming techniques. Late last month Converted Organics announced a letter of intent to acquire R.M. & S.M. Family Farm, LLC of Mosca, Colo., including rights to all equipment and intellectual property currently needed to operate the farming business. “R.M. & S.M. Family Farm, with revenue of $1.2 million and an 856-acre farm, provides Converted Organics with the ability to conduct large-scale field research to improve the profitability of the farm because of our growth trials with potatoes,” reported Company Pres Edward J. Gildea. He said Converted Organics will transition R.M. & S.M. Family Farm from conventional to organic growing practices and continue the production of commercially desirable crops such as corn and potatoes. Gildea remarked. “We hope this farm acquisition, which is part of our mission to involve the company with businesses that are not only stable but also sustainable, will be the first of many to benefit both the company and our shareholders.”