PACOIMA, Calif. and PLANT CITY, Fla. -- UTEK Corp. and American Soil Technologies Inc. have acquired Advanced Fertilizer Technologies Inc., a subsidiary of UTEK Corp., in a stock transaction.

Advanced Fertilizer Technologies Inc. contains a U.S.-patented technology that provides a cost-effective method for producing fertilizer from plant nutrients containing organic material and waste.

American Soil Technologies develops, manufactures and markets new technology that decreases the need for water in plant-growing environments while seeking to increase crop yield and reduce the environmental damage caused by common farming practices.

UTEK(R) is a leading, market-driven technology transfer company that enables companies to rapidly acquire innovative technologies from universities and research laboratories worldwide. UTEK has operations in the United States, United Kingdom and Israel.

SOURCE: UTEK Corporation via Business Wire.