BOSTON, Nov. 18, 2010 (GLOBE NEWSWIRE) -- Converted Organics Inc. (Nasdaq:COIN) announced today that Nick Brusatore, Co-founder and Technical Director of TerraSphere Systems LLC, has been appointed as Chairman of British Columbia Institute of Technology's (BCIT) Centre for Applied Research and Innovation Advisory Committee.
Kim Dotto, Dean of Applied Research at BCIT, says, "We are happy to have Nick Brusatore on the Advisory Committee, as he will provide critical feedback to the Centre from the business community on communication, research process and priorities, in relation to the sustainable agri-business marketplace."
Brusatore will be involved with BCIT's Commercialization Assistance Program which shares resources with partner institutions while providing applied educational opportunities for BCIT students and faculty. This is a program that helps entrepreneurs and small to medium-sized enterprises develop their ideas into successful commercial ventures. To find out more about the program, visit bcit.ca/appliedresearch/arlo/caps/
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 and agricultural 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 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.
About British Columbia Institute of Technology
Established in 1964, the British Columbia Institute of Technology is British Columbia's second largest post-secondary institution with over 48,000 students. BCIT has five campuses offering a wide-range of programs in technologies and trades, and credentials up to and including master's degrees, applied research, international activities, and partnerships with business. The vast array of programs are known for their applied, hands-on learning approach in the areas of engineering, business, media, computing, health, trades, and apprenticeships. BCIT prides itself on a hands-on approach to learning while providing graduates with job-ready skills applicable to a diverse range of industry sectors. BCIT facilitates life-long learning for career progression and career change; BCIT is integral to the economic, social, and environmental prosperity of British Columbia.
This press release contains forward-looking statements that are subject to risks and uncertainties. These forward-looking statements include information about possible or assumed future results of our business, financial condition, liquidity, results of operations, plans and objectives. In some cases, you may identify forward-looking statements by words such as "may," "should," "plan," "intend," "potential," "continue," "believe," "expect," "predict," "anticipate" and "estimate," the negative of these words or other comparable words. Forward-looking statements include, the TerraSphere transaction being in the long-term interest of the Company and that TerraSphere makes significant contributions to the combined company going forward. These statements are only predictions. One should not place undue reliance on these forward-looking statements. The forward-looking statements are qualified by their terms and/or important factors, many of which are outside the Company's control, involve a number of risks, uncertainties and other factors that could cause actual results and events to differ materially from the statements made. The forward-looking statements are based on the Company's beliefs, assumptions and expectations of our future performance, taking into account information currently available to the Company. These beliefs, assumptions and expectations can change as a result of many possible events or factors, including those events and factors described in the "Risk Factors" section in the Company's most recently filed annual report on Form 10-K, as updated in the Company's quarterly reports on Form 10-Q filed since the annual report, not all of which are known to the Company. Neither the Company nor any other person assumes responsibility for the accuracy or completeness of these statements. The Company will update the information in this press release only to the extent required under applicable securities laws. If a change occurs, the Company's business, financial condition, liquidity and results of operations may vary materially from those expressed in the aforementioned forward-looking statements.
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