updated 11/10/2010 10:16:22 AM ET 2010-11-10T15:16:22

BOSTON, Nov. 10, 2010 (GLOBE NEWSWIRE) -- Converted Organics Inc. (Nasdaq:COIN) announced today that Mark Vickars, CEO of Western Canada's largest natural and organic grocer, Choices Markets, reported that the lettuce and spinach products produced by the vertical farming technology of TerraSphere Systems, LLC are in high demand by his stores due to the highly favorable response by customers across British Columbia. TerraSphere sells the lettuce and spinach under the Eco Spirit label for its licensee, the Squamish Nation. The first shipment of lettuce to Choices Markets occurred in September 2010 and the first shipment of spinach was in October 2010.

Mr. Vickars commented, "Our customers are very impressed with the high quality of the Eco Spirit Lettuce and Spinach products, which are selling very well. It is incredible to see such high demand from our customers after only a short time of having the Eco Spirit products available at our stores. Choices Markets shoppers will continue to find products grown using TerraSphere's technology under the Eco Spirit label in all our fresh produce departments."

Mark Gildea, TerraSphere's CEO, stated, "The superb feedback by Choices Markets customers is a testament to the success of TerraSphere's technology and its production of high quality, great-tasting, fresh produce. Choices Markets offers many high quality products and we are thrilled that our lettuce and spinach are selling so well. We hope to offer additional produce products at Choices Markets and will continue the cohesive effort to provide the people of British Columbia with locally-grown, pesticide and chemical-free produce products."

TerraSphere designs and builds highly efficient hydroponic systems to cost-effectively grow commercially desirable crops in closed, compact, automated facilities. The patented TerraSphere system provides for sustainable consumption of natural resources through its clean vertical farming technology for year round food production close to population centers thereby reducing shipping to a minimum and providing a constant flow of fresh produce anywhere in the world. 

On July 6, 2010, Converted Organics Inc. entered into an agreement to acquire TerraSphere Systems, LLC. This acquisition was approved by Converted Organics' Shareholders on September 16, 2010 and is expected to close mid-November 2010.

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 Choices Markets

Founded in December 1990 by brothers, Wayne and Lloyd Lockhart, Choices Markets Canada is Western Canada's largest retailer of natural and organic food. With seven Greater Vancouver locations, Choices Markets focuses on offering shoppers alternatives to conventional grocery store items at fair prices.

About TerraSphere Systems, LLC

TerraSphere Systems ( www.terraspheresystems.com ) is dedicated to building highly efficient systems for growing fruits and vegetables in a controlled indoor environment. TerraSphere's clean technology helps to promote the sustainable consumption of natural resources by maximizing plant production and optimizing 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

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 may make 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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