Wednesday, July 7, 2010

Converted Organics Strengthens Green Tech Portfolio With Proposed Acquisition of Vertical Farming Pioneer TerraSphere System

"BOSTON, Jul 7, 2010 (GlobeNewswire via COMTEX) -- Converted Organics Inc. (COIN 0.53, -0.01, -1.19%) announced today that it has entered into an agreement to acquire TerraSphere Systems, a Massachusetts LLC and a rapidly growing pioneer in the vertical farming market. Completion of the $26 million all stock transaction would be the Company's largest acquisition to-date and is subject to the approval of Converted Organics' shareholders."

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