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Press
Release Archives: 08/07/2006
Itronics
President Whitney Tells Southern California Investors
Company has $1 Billion Market at 35 Percent Gross Profit
Margin
RENO, Nev. and IRVINE, Calif., Aug. 7
/PRNewswire-FirstCall/ -- Itronics Inc. (OTC Bulletin
Board: ITRO; Frankfurt and Berlin Stock Exchanges: ITG)
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. |
