Belvidere, Dec. 6, 2013 (GLOBE NEWSWIRE) -- Terra Tech Corp (TRTC) subsidiary Edible Garden, a hydroponic herb and produce cultivator, signed a distribution deal with GroRite Greenhouse and Garden Centers in May of this year. Under the terms of the agreement Edible Garden and GroRite planned to convert up to 35,000 square feet of greenhouse space at GroRite's retail location in Lincoln Park, New Jersey into a hydroponic cultivation facility. The companies have recently finished converting 8,000 square feet and are currently harvesting and packaging 4,500 living basil plants from the facility. The Edible Garden hydroponic basil will be shipped throughout the Northeast to their current retail partners.
"While finishing the construction of our flagship facility in Belvidere we were also able to complete another step in expanding our cultivation footprint," says Derek Peterson, CEO of Terra Tech Corp. "This facility came on line at the perfect time for us as demand for our products is high throughout the holiday season. We plan to continue converting the remaining 27,000 square feet and expect it to be operational in early 2014."
The Lincoln Park facility is situated within a few hours drive of the New York, New Jersey, and Pennsylvania markets allowing them to efficiently service those areas with Edible Garden's fresh, living and locally grown produce. The operation is also conveniently located near the Hunts Point Produce Market, the largest produce market in the world, which serves an estimated 22 million people within a 50-mile radius. Edible Garden is currently seeding butterhead lettuce in the new space at Lincoln Park for sale and delivery to foodservice wholesalers through the market.
"While our primary focus has been grocers and other specialty retailers, we are beginning to cultivate products for wholesale into the food service industry. Having Manhattan just across the bridge gives us a major marketplace for servicing restaurants, hotels and other foodservice consumers as well," explains Ken Vande Vrede, COO of Terra Tech.
About Terra Tech
Terra Tech Corp. (TRTC) through its wholly owned subsidiary GrowOp Technology specializes in controlled environment agricultural technologies. The company integrates best-of-breed hydroponic equipment with proprietary software and hardware to provide sustainable solutions for indoor agriculture enterprises and home practitioners. Our complete product line is available at specialty retailers throughout the United States, and via our website. Through its wholly-owned subsidiary Edible Garden, cultivates a premier brand of local and sustainably grown hydroponic produce, sold through major grocery stores such as Shoprite, Food Emporium and others throughout New Jersey, New York, Delaware, Maryland, Connecticut, and Pennsylvania.
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Statements in this press release may be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "anticipate", "believe", "estimate", "expect", "intend" and similar expressions, as they relate to the company or its management, identify forward-looking statements. These statements are based on current expectations, estimates and projections about the company's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and probably will, differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including those described above and those risks discussed from time to time in Terra Tech Corp.'s filings with the Securities and Exchange Commission. In addition, such statements could be affected by risks and uncertainties related to Terra Tech Corp.'s (i) product demand, market and customer acceptance of its equipment and other goods, (ii) ability to obtain financing to expand its operations, (iii) ability to attract qualified sales representatives, (iv) competition, pricing and development difficulties, (v) ability to integrate GrowOp Technology Ltd. into its operations as a reporting issuer with the Securities and Exchange Commission, and (vi) general industry and market conditions and growth rates and general economic conditions. Any forward-looking statements speak only as of the date on which they are made, and the company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release. Information on Terra Tech Corp.'s website does not constitute a part of this release.
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