BOCA RATON, Fla., Feb. 3, 2014 (GLOBE NEWSWIRE) -- Zero Gravity Solutions, Inc. (ZGSI or "the Company") (Pink Sheets:ZGSI) announced today that it has established a wholly owned subsidiary, Zero Gravity Solutions Ltd (ZGSL), to service the Company's operations and interests in the European Union (EU) and other international markets.
As of 16 December 2013, ZGSI is a 100% owner of ZGSL. ZGSL has established an office at Harwell Oxford's Satellite Applications Catapult facility at the Harwell Campus in Oxfordshire, United Kingdom (UK), a major space, biotech and life science development site in the UK. Harwell Oxford is becoming known as Space Central with the European Space Agency building a 50,000 square foot new building on this site. The campus already has 150 companies located there employing 4,500 people. This is estimated to expand to 20,000 over the next five years. Because of the resistance to the use of Genetically Modified Organism (GMO) in food in Europe, we anticipate the EU to become a primary early adopter initially of our BAM-FX™ product and subsequently of our International Space Station (ISS) based plant stem cell technology. The European agricultural market is a USD300 billion/year enterprise as compared to the USA, which is USD175 billion/year.
Mr. Hugh Chambers is the newly appointed, UK-based Managing Director of ZGSL. Mr. Chambers is a highly experienced international senior executive. His career includes the establishment of international business collaborations, joint ventures and overall business development strategies in over 80 countries worldwide.
Richard Godwin, Chief Executive Officer and President of ZGSI, stated, "The development of ZGSI's presence in the UK provides a platform into the EU and other world agricultural markets. Mr. Godwin further stated, "This not only assists us with our R&D efforts but also provides outlets for our pipeline of products as we develop them."
Mr. Chambers, Managing Director of ZGSL, stated, "We see this as an extraordinarily exciting opportunity to be associated with Harwell. Its emphasis on innovative utilization of technologies developed for space complements our efforts to place Zero Gravity Solutions at the confluence of commercialization opportunities of the ISS and fulfilling critical needs of humanity here on Earth."
About Zero Gravity Solutions, Inc.
Zero Gravity Solutions, Inc. is a zero gravity and agricultural biotechnology public company commercializing its technology derived from and designed for Space with significant applications on Earth. These technologies are focused on revolutionizing world agriculture by providing valuable solutions to major challenges facing humanity, including threats to world agriculture and the ability to feed the growing population. The two primary categories of the Company's technologies are: 1) an organic, cost effective, ionic nutrient delivery system for plants that is designed to provide a way to achieve healthier, more robust, more productive crops while reducing chemical use, waterway contamination and irrigation and 2) the development and production, in the prolonged zero/micro gravity environment of the International Space Station, large volumes of Non-GMO, novel stem cells with unique and beneficial characteristics, which can be patented for commercial sale to third parties in the agricultural and human regenerative medical markets. The Company is headquartered in the United States with additional offices in the United Kingdom. Information on the Company can be viewed on www.zerogsi.com.
This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence on third-party suppliers, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.