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Itronics President Whitney Tells Southern California Investors Company has $1 Billion Market at 35 Percent Gross Profit Margin
8/7/2006 7:00:55 AM
RENO, Nev. and IRVINE, Calif., Aug 07, 2006 /PRNewswire-FirstCall via COMTEX/ -- Itronics Inc. ( ITRO ) announced today that, at its presentation on August 5th to the prestigious Southern California Small Cap Investor Conference (SCIA), Dr. John Whitney, Company President, said the combined market for Itronics' services and products is approximately $1 billion and Itronics is targeting a 35 percent gross profit margin.

"The total fertilizer market in the U.S. is 50 million tons, a market of approximately $16 billion. Now that we have completed a 15-year, $24 million research and development program to perfect liquid fertilizers that are more effective and environmentally beneficial, we believe our revenues, currently at $1.1 million for six months, will grow significantly," Dr. Whitney will tell the SCIA attendees.

"Our GOLD'n GRO fertilizers, which are developed after the heavy metals have been stripped from photowastes, are up to three times more effective than other fertilizer products, making them much more economical for the farmer. The crop production is increased by up to 40 percent using our products at the same time ground water contamination is significantly decreased due to the reduced fertilizer requirements, a win for the farmers and for the environment," Dr. Whitney said.

"Photowaste is generated by medical, dental, and veterinary uses and consumer photo processing," Itronics President said. "Using Itronics' technology, 100 million gallons of waste photoliquids are sufficient to manufacture 200 million gallons of GOLD'n GRO fertilizers, while this same amount of waste contains 20 million ounces of silver, worth about $220 million, which Itronics' proprietary technology strips out."

"Our recycling removes 100 percent of the silver and other heavy metals from photowastes and converts the entire residuals into usable products, which is why we have won so many honors from environmental groups," Dr. Whitney said. "With our R & D now behind us, we hope to also win the plaudits of investor groups such as the SCIA."

About Itronics

Itronics, through its subsidiary, Itronics Metallurgical, Inc., is the only company in the world with a "Beneficial Use Photochemical, Silver, and Water Recycling" facility that extracts more than 99 percent of the silver and virtually all the other toxic heavy metals from used photoliquids and converts the resulting liquids into environmentally beneficial, chelated, multinutrient liquid fertilizer products sold under the GOLD'n GRO trademark, and 5 troy ounce, 0.999 pure, Silver Nevada Miner numismatic bars. The environmentally friendly liquid fertilizers can be used for lawns and houseplants, and are available, along with GOLD'n GRO liquid fertilizer injectors, at the Company's "e-store" catalog at http://goldngro.com . The popular Silver Nevada Miner bars are available at the Company's "e-store" catalog at http://www.itromet.com .

Headquartered in Reno, Nevada, Itronics Inc. is a "Creative Environmental Technology" company and a world leader in photochemical recycling. The Company also provides project planning and technical services to the mining industry and operates the global Gold Producing Stocks web site at http://www.insidemetals.com . Itronics was one of five finalists for the 2001 Kirkpatrick Chemical Engineering Award, the most prestigious worldwide award in chemical engineering technologies. The Company was awarded second place, Highly Commended in the Environmental Technology category, at the prestigious Institution of Chemical Engineers (IChemE) 2005 Worldwide Environmental Award ceremonies at the Royal Courts of Justice in London, England in September 2005. Itronics was awarded the USA Gold Award at the House of Commons in London in November 2005 as part of the International Green Apple Environmental Awards contest, one of the largest and most prestigious of its kind in the world and the International Green Hero award in 2006 for its leadership on environmental issues. Itronics' GOLD'n GRO fertilizer was named one of the top 10 new technologies representing the best of agricultural innovation by the Canadian Association of Agri-Retailers in its December 2005 publication "Communicator." Dr. John Whitney, Itronics President, was selected as Nevada's Inventor of the Year for 2000 and is a member of the Inventor's Hall of Fame at the University of Nevada, Reno.

VISIT OUR WEB SITE: http://www.itronics.com


"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This press release contains or may contain forward-looking statements such as statements regarding the Company's growth and profitability, growth strategy, liquidity and access to public markets, operating expense reduction, and trends in the industry in which the Company operates. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update these forward-looking statements to reflect actual results, changes in risks, uncertainties or assumptions underlying or affecting such statements, or for prospective events that may have a retroactive effect.

SOURCE Itronics Inc.

Paul Knopick, +1-888-795-6336, for Itronics Inc.

http://www.prnewswire.com

Posts: 3346 | From: Leominster,MA,US | Registered: Jul 2003  |  IP: Logged | Report this post to a Moderator
   

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