« Previous | Next » | All Messages |  ITRO Message Board Home | recommend post |  Ignore Poster

ITRO AXcess News: Green Clean Tech Company Bucks Economic Trend

HOUSTON, TX -- (Marketwire) -- 01/06/09 -- Reno-based Itronics Inc. (OTCBB: ITRO stock news) reached a new milestone in its business by reporting record revenue for 2008 and fourth-quarter results that topped the charts for this environmentally green clean technology company.

In an announcement released this morning, Itronics founder Dr. John Whitney was quoted as saying, "Even though the overall U.S. economy is struggling, we are expecting strong fertilizer revenue growth to continue in 2009 because of both increased regional and national interest in our products and because of a significant order backlog."

Itronics reported $3.02 million in revenue for 2008, an increase of 29% over the prior year's $2.34 million. For the fourth quarter 2008, Itronics reported $605,000 in revenue compared to $413,000 in the prior year's period, an increase of 46%.

While Whitney has every right to be bullish about Itronics' prospects for 2009, previous announcements support that outlook.

The maker of environmentally friendly liquid fertilizers promoted under the GOLD'n GRO label has increased both supply of raw materials obtained through photowaste liquid processing and expanded its product line.

GOLD'n GRO Guardian Deer Repellent, Itronics' newest product, "is expected to add significantly to the 2009 revenue increase," Whitney stated.

Itronics' Deer Repellent falls under the category of systemic deterrents, which when applied is absorbed through the leaves, leaving a bitter taste if eaten. But the breakthrough product carries a one-two punch in that it also fertilizes the plants. In a Dec. 16, 2008 announcement, Itronics noted that "landscape maintenance companies evaluating GOLD'n GRO Guardian Deer Repellent have shown that the product is effective, long lasting, and does no harm to the deer it repels."

"In all cases reported, the spray applications worked well," said Whitney. "Exactly what the customer wanted."

Targeting the Northeast region of the Nation, Itronics reported that GOLD'n GRO Guardian Deer Repellent is now registered in nine states.

Environmental regulations require that before a seller can introduce a new product it must go through a state-by-state environmental registration process and for fertilizer products it means closer scrutiny to environmental law. But even after EPA approval, ag-related products move slowly to market with field tests. That entire process can take years to achieve, but as Whitney implied, Itronics Deer Repellent "is exactly what the customers wanted."

Itronics' plant in Reno is the only EPA approved facility in the Nation for processing photowaste liquids for conversion into fertilizer, which gives the environmentally green technology company a distinct advantage.

A bonus comes from Itronics' removal of heavy metals in photochemical waste processing -- silver. According to the announcement this morning, silver sales in the fourth quarter of 2008 rose 65%.

Itronics manufactures a 99.99% pure five-ounce silver bar which is numesmic quality and dated. Each year, Itronics produces a new numbered batch that are quickly snapped by collectors as well as investors, though demand for "green silver" is on the rise and the Company noted that for the year, silver sales have increased 40%. In fact, demand is outpacing available supply. That's why Itronics announced plans on November 11, 2008 to increase silver refining capacity at its Reno plant by 100 times.

Currently, Itronics Metallurgical, Inc.'s, a wholly-owned subsidiary of Itronics, Inc., annual silver refining capacity is 24,000 ounces. Plans call for increasing that capacity to 2.4 million ounces per year. Itronics noted in that November announcement that "Production at capacity with $10 per troy ounce silver would increase silver sales from $240,000 per year to $24 million."

The expansion will be done in two steps, first, installing a new leaching circuit in 2009 "which will reduce the amount of solids delivered to the refining operation by 90%." In 2010, Itronics will "install a new modular melting system in 2010 which will reduce melt cycle times, reduce cost, and increase physical capacity by up to 10 times." The Company noted that stage one will increase production 10 times, and stage two permits Itronics Metallurgical to increase capacity 10 times, moving the Company's subsidiary into a whole new level of green silver production.

Note to Editors: "News Features" are stories provided to publishers copyright-free for print or online display at no charge. All we ask is that publishers include our byline (AXcess News) as the source or if online, link to our Web site: http://www.axcessnews.com. If you are interested in displaying our news on a regular basis, please contact our editorial department at: 775-882-8381 or by email at: editor@axcessnews.com.