Two University students, Tom Szaky and Jon Beyer, enteredtheir "Worm Project" into a business plan contest atPrinceton. The project involved taking organic garbage fromthe dining halls at Princeton University and feeding it toworms. The worms processed the garbage into organicfertilizer for flowers, house plants, and vegetables.
- Most fertilizer products available today use syntheticchemicals which destroy the microbes that improve the soiland promote plant growth. In addition, runoff from fieldsinto water supplies causes harm to the environment.
- The popularity of organically grown foods is growing. Asa result, more farms are using organic fertilizers. TheUSDA projects that sales of organically grown food will be$20 billion this year and are expected to grow at an annualrate of 20 percent.
Szaky decided to drop out of school and dedicate his timeto turning the Worm Project into reality. His companyTerraCycle International Inc. www.terracycle.net signedcontracts through which it will receive 130 tons of organicgarbage daily from clients throughout northern New Jersey.
In his manufacturing process, the garbage is fed tomillions of red worms. The worms take about three weeks toturn the garbage into solid worm poop. The worm poop isseparated out, liquefied, and put in bottles.
- The resulting product is superior to other brands on themarket because most fertilizer has had chemicals added.TerraCycle's process is entirely organic, creating soilthe same way it's created in the forest.
Since the product became available in stores, about 15,000units have been sold. A 20-ounce bottle sells for $6.95.TerraCycle now has 11 employees and expects revenues toreach $1 million in its 2004-05 fiscal year.
Tom Szaky and Jon Beyer have created a brilliant "garageoperation" farming business using worms as their "livestock". All you need is a source of organic garbage andyou too can turn worm poop into cash.
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