ANAHEIM, Calif., April 17, 2018 (GLOBE NEWSWIRE) -- GreenGro Technologies, Inc. (OTC:GRNH), an innovative designer and developer of state-of-the-art indoor vertical farms, today announced it has completed its acquisition of an 80% majority interest in Biodynamics, Inc, an Akron, Ohio-based leader in controlled environmental agriculture (CEA), renewable energy and consumer hydroponics.
GreenGro Technologies today also provided an update on a number of previously announced projects, including;
- Global Renewable Resources ‘Smart Vertical Farm’ – The Company is pleased to report that the combination of GreenGro Technologies and Biodynamics’ proprietary vertical farm technologies have enabled them to secure a commitment letter from Mastronardi Produce Ltd. for the marketing of its USDA #1 products from the proposed Global Renewable Resources facility. Global Renewable Resources expects to begin construction of the new ‘Smart Vertical Farm’ upon completion of financing. The first phase of the GRR project is expected to consist of a 10-acre tomato facility, with the ability to expand up to 30 acres thanks to the technologies and renewable energies the GreenGro and Biodynamics partnership will bring to the table.
- CannaCulture Project – Biodynamics has received its first purchase contract from CannaCulture, and expects payment by the end of the second quarter.
- Development of the 4.5-Acre Site for a Canna-Business Park in Adelanto, CA – Greengro Technologies recently announced the submitting of documents to the City of Adelanto for approval of its plan to design and develop one of Southern California’s largest canna-business parks, with GreenGro’s state-of-the-art indoor vertical farm at the epicenter of the complex.
“GreenGro Technologies continues its ascent in the legal cannabis market with the closing of its acquisition of a majority equity position in Biodynamics, Inc.,” said James Haas, Chairman and Chief Executive Office of GreenGro Technologies, Inc. “We are committed to increasing corporate revenues while also expanding via strategic investment opportunities that deliver multiple revenue streams on behalf of our shareholders. In fact, we have promising new bids out for our canna-business park as we speak. I am confident we will be able to report outstanding growth for 2018 as we continue to increase our market share in an ever-growing marketplace while at the same time solidifying our position as one of the top innovators in our space.”
Mr. Haas went on to say that with all of the projects the Company is involved with currently along with potential new projects coming on board, he anticipates additional shareholder updates in the very near future.
To be added to GreenGro Technologies’ investor lists, please contact Bill Miller at bmiller@irpartnersinc.com.
About Biodynamics, Inc.
Biodynamics, Inc. Akron, Ohio, is an industry leader in Controlled Environment Agriculture (CEA), specifically commercial hydroponic vertical farms that use precision environmental control to protect crops from environmental elements and enable year-round production of high quality, locally grown produce. Biodynamics focuses on offering turnkey, fully automated, off-grid, state-of-the-art hydroponic vertical farms as one of the market’s premier indoor CEA systems providers. The company’s target market of customers includes businesses and institutions in the field of produce production and distribution. Secondary markets include corporate R&D laboratories and university agricultural schools. Biodynamics is headquartered in Akron, OH. (P) 330-920-6040 (I) www.biodynamicscea.com; (Email) info@biodynamicscea.com
About GreenGro Technologies
GreenGro Technologies (OTC:GRNH) is a world class provider of eco-friendly green technologies with specific domain expertise in indoor and outdoor agricultural science systems serving both the consumer and commercial farming markets. It brings together community and commerce through the growth and distribution of healthy, nutritious foods and vital medicines backed by science and technology. Customers include restaurants, community gardens, small and large scale commercial clients. GreenGro Technologies also provides design, construction and maintenance services to large grow and cultivation operations and collectives in the medical and recreational marijuana sectors.
The Company’s website at www.greengrotech.com offers regular updates including educational videos, projects updates, recipes and nutritional information, and where to find the Company’s products.
Forward Looking Statements
This release may contain forward-looking statements. Actual results may differ from those projected due to a number of risks and uncertainties, including, but not limited to, the possibility that some or all of the matters and transactions considered by the Company may not proceed as contemplated, and by all other matters specified in the Company's filings with the Securities and Exchange Commission. These statements are made based upon current expectations that are subject to risk and uncertainty. The Company does not undertake to update forward-looking statements in this news release to reflect actual results, changes in assumptions or changes in other factors affecting such forward-looking information. Assumptions and other information that could cause results to differ from those set forth in the forward-looking information can be found in the Company's filings with the Securities and Exchange Commission (www.sec.gov), including its recent periodic reports.
Investor/Media Contact:
Bill Miller
Investor Relations Partners
Phone: 844-565-5665
bmiller@irpartnersinc.com