Boston-Converted Organics Inc. said Feb. 24 that on Feb. 20 it completed an initial shipment of 22 tons of its all-natural, organic lawn and turf fertilizer to a major retail distribution chain for the Spring 2009 selling season. Converted Organics expected to ship a second 22-ton order to the same major retail distribution chain Feb. 25. It also announced that full-time, around-the-clock manufacturing operations commenced at the Converted Organics Woodbridge, New Jersey, facility Feb. 21. “Although Converted Organics expected to be fully operational in January, our production schedule was delayed. However, we are very pleased to have begun shipping our organic fertilizer to a major retail distribution chain for the upcoming growing season,” said Edward Gildea, company president. “The difficulties and challenges we encountered as we commenced our manufacturing system have been or are being addressed. To date in 2009, we have processed 1,131 tons of food waste at our Woodbridge facility and anticipate that figure to increase significantly in the near future as we operate on a 24-hour cycle.” The company said as a result of the delay in manufacturing, it is seeking additional cash resources. It has retained the services of Chardan Capital Markets LLC to pursue strategic offerings, including a potential financing or restructuring. Chardan is a full-service financial firm specializing in small and microcap companies in the international arena, encompassing both public and private sectors. Converted Organics has also been in the news lately as it owns a plant in Gonzales, Calif., which, under a former owner, allegedly spiked organic fertilizer with ammonium sulfate (GM Jan. 5, p. 10).
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